(The Center Square) – North Dakota’s not-seasonally adjusted unemployment rate for July is 1.9%, down from 2.3% in June, according to the latest statistics from the state’s Labor Market Information Center.
The number of unemployed North Dakotans dropped from 9,569 in June to 7,985 in July.
The state also gained 9,600 jobs from July 2022 to July of this year. The biggest gain was in mining and logging, which added 3,500 jobs. The leisure and hospitality industry added 1,800.
The state lost a cumulative 4,000 jobs in June but saw a drop of 6,400 jobs in the government sector, according to LMI. Those were mainly in local and state government educational services, Marcia Havens, LMI manager, told The Center Square.
North Dakota had the seventh-best change in its unemployment rate for July, according to WalletHub. The U.S. economy will grow very little in 2023 and will affect the unemployment rate, according to WalletHub Analyst Jill Gonzalez.
“This would lead to a jump in unemployment to as high as 4.6 percent, according to the Federal Reserve,” Gonzalez said. “Both of these things would be signs of the Fed continuing to try and get a handle on inflation. If this ‘worst-case scenario’ comes true, it could mean that millions of people who now have jobs could wind up unemployed.”
The national not seasonal unemployment rate for July is 3.8%, which is unchanged from June and the previous year, according to LMI.