State Labor Market Update: January 2024 Data Release
This article covers the latest state-level employment data release from the Bureau of Labor Statistics, written by our team of regional economists. The summaries for each state are attributed accordingly below so that any quotes drawn from this article can be properly credited. Data used for this article are at the time of writing and are subject to future revisions by the BLS.
State Level Overview:
District of Columbia
written by Joseph Mengedoth
The labor market in the District of Columbia showed a slight improvement in January. Total payroll employment increased by 400 jobs, on net. The job gain was heavily concentrated in two industry sectors: education and health services added 1,300 jobs in the month while government added 800 jobs. Partially offsetting these gains were losses of 800 jobs in professional and business services, 600 jobs in leisure and hospitality, and 400 jobs in financial services. The level of employment in the District of Columbia remains considerably below (4.8 percent or 38,300 jobs) the pre-pandemic level of February 2020. On a year-over-year basis, however, employment was up 2,700 jobs. The majority of the net gain came from government (3,300 jobs) and education and health services (2,600 jobs). Meanwhile, the largest job loss over the year occurred in professional and business services (2,400 jobs). In terms of unemployment, the jobless rate in the District of Columbia ticked up 0.1 percentage point in January to 5.0 percent. The unemployment rate has remained consistently at around 5.0 percent for the last year and this rate is slightly below the pre-pandemic low of 5.2 percent.
For more economic data on the District of Columbia, see DC's Regional Economic Snapshot.
Maryland
written by Adam Scavette
One of the tightest labor markets among US states, Maryland's overall job growth continues to be muted through January 2024 as steady government hiring helps to offset private-sector job losses across several sectors. Maryland payroll employment increased by 6,800 jobs (0.2 percent), on net, in January. Government saw the largest increase in jobs month-over-month (3,900 jobs), followed by leisure and hospitality (2,900 jobs). Job declines occurred in construction (1,700 jobs). On a year-over-year basis, Maryland payroll employment increased by 5,500 jobs (0.2 percent), on net. The most jobs were added over the year in government (14,300 jobs), followed by education and health services (11,300 jobs). The most jobs lost over the year were in professional and business services (6,100 jobs), construction (5,900 jobs), and trade, transportation, and utilities (5,400 jobs). The unemployment rate in Maryland has risen 0.1 percentage point from December to 2.3 percent and has fallen 0.1 percentage point from January 2023 rate of 2.4 percent.
For more economic data on Maryland, see the state's Regional Economic Snapshot.
North Carolina
written by Laura Ullrich
North Carolina added 11,600 jobs in January, continuing many months of impressive employment growth. There are now over 350,000 more jobs in North Carolina than existed pre-pandemic. The strongest growth was seen in the construction and professional and business services sectors, which added 4,000 and 5,900 jobs, respectively. While overall employment was up 7.6 percent since February 2020, employment in the construction sector was up 12.7 percent and employment in the professional and business services sector was up 13.8 percent. There was a loss of 2,300 jobs in the trade, transportation, and utilities sector, representing the sole sector with job losses in January. The unemployment rate in the state was 3.5 percent in January, down slightly from 3.6 percent in December. The labor force in North Carolina grew by 5,100 in January, while the number of unemployed declined by 1,600. The labor force is now up 2.9 percent since the beginning of the pandemic.
For more economic data on North Carolina, see the state's Regional Economic Snapshot.
South Carolina
written by Laura Ullrich
South Carolina added 9,200 jobs in the month of January, which represented 3.3 percent of all jobs added in the United States. Given that the state represents about 1.5 percent of total employment, this was a relatively strong month of job growth in the state. There were 3,500 jobs added in the government sector, with most of the jobs added at the state and local government levels. The government sector remains the only sector below pre-pandemic levels, but it is now within one percentage point of February 2020 levels. There were 2,600 jobs added in the professional and business services sector and 3,200 were added in leisure and hospitality, with leisure and hospitality up 16 percent year-over-year and 6 percent when compared to pre-pandemic levels. One of only two sectors that lost employment in January, the trade, transportation, and utilities sector shed 3,100 jobs. The unemployment rate in South Carolina remained constant at 3.0 percent and the labor force increased by 1,500.
For more economic data on South Carolina, see the state's Regional Economic Snapshot.
Virginia
written by Joseph Mengedoth
Virginia's labor market strengthened in January. Payroll employment rose 8,700 jobs (0.2 percent), on net, compared to the prior month. The majority of the net gain came from the professional and business services industry and the government sector, which added 5,100 jobs and 4,500 jobs, respectively. Smaller gains occurred in financial services (1,400 jobs), manufacturing (1,100 jobs), and education and health services (500 jobs). The only sizeable losses in the month were the 2,200 jobs lost in trade, transportation, and utilities and the 1,500 jobs lost in leisure and hospitality. Compared to a year ago, total employment in Virginia was up 1.4 percent as every industry except trade, transportation, and utilities and professional and business services experienced growth. The unemployment rate in Virginia was unchanged at 3.0 percent in January and little changed from a year ago. In fact, the jobless rate in Virginia has remained between 2.5 percent and 3.1 percent for the last two years, which is comparable to the pre-pandemic lows and historical lows for the state. Virginia's labor force grew slightly (0.2 percent) over the month and has increased by 1.5 percent (almost 70,000 people) since January 2023.
For more economic data on Virginia, see the state's Regional Economic Snapshot.
West Virginia
written by Adam Scavette
West Virginia's payroll employment growth has been relatively strong over the past year through January 2024 with steady gains across education and health services, government, and construction. West Virginia payroll employment increased by 1,200 jobs (0.2 percent), on net, in January. Professional and business services saw the largest increase in jobs month-over-month (800 jobs), followed by leisure and hospitality (600 jobs). Job declines occurred in trade, transportation, and utilities (500 jobs) and education and health services (200 jobs). On a year-over-year basis, West Virginia payroll employment increased by 15,500 jobs (2.2 percent), on net. The most jobs were added over the year in education and health services (5,400 jobs), followed by government (4,500 jobs) and construction (2,000 jobs). The only industry that lost jobs over the past year was trade, transportation, and utilities (900 jobs). The unemployment rate in West Virginia remained flat over the month at 4.3 percent but has risen 0.7 percentage point from January 2023 rate of 3.6 percent.
For more economic data on West Virginia, see the state's Regional Economic Snapshot.
Views expressed are those of the author(s) and do not necessarily reflect those of the Federal Reserve Bank of Richmond or the Federal Reserve System.
