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Four States Back at Peak Employment: IHS

A report from Information Handling Services (IHS) showed that since the recession began, four states have reached or surpassed previous employment peaks while several more are within 1 percent of making that goal.

The report, put together by IHS U.S. Regional Economist Steven Frable, stated that Alaska, North Dakota, Texas, and Louisiana have all reached or passed their prerecession employment levels, with Alaska and North Dakota reporting peak employment in 2010-11.

These four states are also experiencing the most benefits from the current energy boom. Many other states have bounced almost all the way back, coming within 1 percent of their employment peaks.

On the other end of the spectrum, 16 states still have fewer than 95 percent of their prerecession job levels. Alabama, Florida, Arizona, Michigan, Rhode Island, and Nevada each have at least 7 percent to make up before hitting their previous peaks.

Half of the U.S. is expected to be back to peak job levels in 2012-13 while the other half will not completely recover until 2014 at the earliest. The majority of these states are expected to get back to their peaks in 2014-15, though states such as Arizona, Alabama, Florida, Connecticut, and Ohio are projected for a 2016-17 recovery. Nevada, Michigan, and Rhode Island are not expected to recover until past 2017.

Percentage of Jobs Below Peak Employment
(Bottom five states)

1. Nevada – 13 percent
2. Michigan – 11.4 percent
3. Florida – 9.3 percent
4. Arizona – 9.1 percent
5. Rhode Island – 7.6 percent

Source: dsnews.com