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Unemployment rates fall to record lows in 4 US states

Unemployment rates fall to record lows in 4 US states

The state's jobless rate fell to 3.1 percent in March, down from 3.8 percent the year before, Iowa Workforce Development said Friday. March was the seventh consecutive month that posted both an increase in employment and a decrease in unemployment.

"The establishment survey showed little gain, but this was likely due to the storm in March combined with the warmer-than-normal weather in January and February", said Michael Walden, an economics professor at N.C. State University.

"When you have these high skilled jobs and you have high skilled people moving here you get a positive momentum going", said Bailey. Construction, however, saw another 1,800 jobs between March 2016 and March 2017 including 500 jobs between February and March of 2017.

Yet, most economists say the job market remains challenging for applicants lacking technology and other specialized skills necessary to land advanced manufacturing jobs.

Hendry County had the highest unemployment rate at 6.4 percent, followed by Sumter County at 6.1 percent and Citrus and Hardee counties at 5.9 percent. When the EDD adjusted for those seasonal factors, the number of payroll jobs in the county actually fell by 9,000 in March.

Walden say a key employment indicator to monitor will be the level of growth in the labor force.

Since the start of the economic recovery, Miami-Dade had led the state in job growth.

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"I am not quite sure why government bounced back but the weakness in the private sector reflects a payback from some earlier strength in construction, where activity was pulled forward because of unseasonably mild weather", Vitner said by email.

The largest gain in employment occurred in professional and business services, up 2,900 jobs to 731,600.

Lawrence County's jobless rate was 1.4 percentage points lower than it was a year ago.

The state should grow at double the national rate going from five and a half million to eight and a half million people by 2050. More than 12,000 of those jobs were in the Northwest Arkansas and Little Rock metropolitan areas, indicating that rural areas of the state continue to struggle, Jebaraj said.

New numbers show the unemployment rate in Kansas dropping below four percent last month. The 75,689 people looking for work in Colorado during March were the fewest since April 2001 and was down almost 11,000 from the February total.

"We need roughly 4,500 to 5,000 new permits to be pulled each year in order to keep Pace with our population increase", said Bailey.

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