Rutgers Regional Report examines employment performance of the 50 states during Great Recession and Recovery
In the latest Rutgers Regional Report, “Employment Recession and Recovery in the 50 States,” Joseph J. Seneca, university professor and economist at the Bloustein School and Will Irving, research associate, provide an account of record of the private–sector employment performance of the 50 states during the Great Recession and the ensuing recovery. The analysis reveals how the severity of the job losses varied significantly across the 50 states during the recession and also how variable the job recovery has been among the states.
Professor Seneca noted, “With the recent significant slowdown in national and global economic activity juxtaposed on the severe state job losses during the recession and the tepid and variable job recovery since, the need for forceful and effective policy efforts to prevent a second recession could not be more compelling.”
Some of the report’s findings include:
- States losing the highest absolute number of private-sector jobs over the course of their employment declines included California (-1,297,400 jobs), Florida (-909,700 jobs), Texas (-485,900 jobs), Michigan (-443,600 jobs), and Ohio (-417,800 jobs). See table 2.
- States experiencing the longest private-sector employment declines relative to the 25-month U.S. employment recession included Arizona and Nevada (42 months), Missouri (39 months), Hawaii (37 months), and Idaho (36 months). See table 4.
- States experiencing the highest rate of private-sector employment decline included Nevada (-16.5 percent), Arizona (-13.9 percent), Florida (-13.1 percent), Michigan (-12.2 percent), and Idaho (-11 percent). See figure 2 and table 3.
- States recovering the highest percentages of their lost private-sector employment since the end of their individual declines include North Dakota (390 percent), Alaska (198 percent), Texas (73 percent), Louisiana (67.6 percent), and Nebraska (67.5 percent). See figure 4 and table 6.
- States accounting for the largest absolute private-sector job gains during their recoveries include Texas (354,800 jobs), California (266,800 jobs), and New York (177,200 jobs). See table 5.