In this article, we will look at the 5 states with the lowest unemployment rates. We have also extensively discussed the job market in the US along with some key players. If you are interested in reading about that, along with a more extensive list in, head straight to the 20 States with the Lowest Unemployment Rates.
5. South Dakota
Unemployment Rate: 1.9%
Amazon is planning to hire more than 650 employees in South Dakota which includes seasonal, full-time, and part-time roles. This hiring initiative is in preparation for the upcoming holiday season, and Amazon has mentioned that seasonal employees may have the opportunity to transition into full-time roles. The company recently increased its average pay to over $20.50 per hour for customer service and transportation roles. Amazon has made huge investments in South Dakota since 2010, totaling over $400 million. These investments have not only created more than 800 direct jobs but also supported an additional 2,500 indirect jobs across the state and have, thus, contributed over $300 million to the South Dakota GDP.
4. North Dakota
Unemployment Rate: 1.9%
In North Dakota, the job market has been different for different cities. Fargo, the largest city, experienced a slight decline in employment in July, with 400 fewer jobs, but over the year, it saw a modest increase of 900 jobs. Bismarck reported no change in jobs from August and a small decrease of 200 jobs from a year ago. Meanwhile, Grand Forks, a smaller city, showed positive growth, adding 100 jobs in July and 1,200 jobs in the past year, making it the city with the fastest-growing job market in North Dakota.
3. New Hampshire
Unemployment Rate: 1.8%
The New Hampshire Department of Business and Economic Affairs (BEA)’s assessment reveals that the state’s life science workforce grew by 1,484 jobs and represented a 15.1% growth rate within the industry between 2012 and 2021. The industry comprises a $2.8 billion sector and employs over 11,000 people, with an average salary of $130,848 per year.
2. Vermont
Unemployment Rate: 1.8%
Vermont’s workforce shortages are a growing concern for businesses in the region. As of April 20, 2023, approximately 11,000 job openings are reported on the Vermont Department of Labor’s website. Vermont’s largest job fair was held at the Champlain Valley Expo to address this gap, with more than 130 employers from different sectors. The fair aimed to connect job seekers of all ages and experience levels with employers to bolster the state’s workforce. It also highlighted the demographic challenges Vermont faces due to a shrinking workforce.
1. Maryland
Unemployment Rate: 1.7%
Health and beauty product and kitchen appliance manufacturer Conair LLC is set to create 700 jobs with a new distribution center in Washington County, Maryland. The company will lease approximately 2.1 million square feet at a soon-to-be-constructed facility in Hagerstown, which is expected to be the largest single distribution center in Maryland. It is the state with the lowest unemployment rate.
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