Update: Jobs and incomes fell in the Western states in 2009
Final revised state figures for 2009 have just become available for two key indicators: nonfarm employment (from the U.S. Bureau of Labor Statistics) and personal income (from the U.S. Bureau of Economic Analysis). To the surprise of practically nobody, the Western states were not represented among the growth leaders. The nation as a whole recorded declines on both indicators for the year; the 4.3 percent drop in employment was the worst one-year decrease since the Great Depression.
Final revised state figures for 2009 have just become available for two key indicators: nonfarm employment (from the U.S. Bureau of Labor Statistics) and personal income (from the U.S. Bureau of Economic Analysis). To the surprise of practically nobody, the Western states were not represented among the growth leaders. The nation as a whole recorded declines on both indicators for the year.
Every state lost jobs
No state added jobs in 2009. Employment in the U.S. economy fell by 4.3 percent, the worst one-year decrease since the Great Depression. The 2009 decrease was the second consecutive year of job losses. The slow recovery after the recession of 2001 is the only other two-year job loss period on record, apart from the Great Depression.
Jobs and Personal Income Declined In Every Western State in 2009
- Texas:
- Rank: 8
- Percent: -2.8
- Montana:
- Rank: 21
- Percent: -3.7
- Wyoming:
- Rank: 23
- Percent: -4.0
- New Mexico:
- Rank: 24
- Percent: -4.1
- Washington:
- Rank: 30
- Percent -4.5
- Colorado:
- Rank: 32
- Percent -4.5
- Utah:
- Rank: 35
- Percent -4.8
- Idaho:
- Rank: 44
- Percent -6.0
- California:
- Rank: 45
- Percent 6.0
- Oregon:
- Rank: 47
- Percent -6.2
- Arizona:
- Rank: 49
- Percent -7.3
- Nevada:
- Rank: 50
- Percent -9.1
- United States:
- Percent: -4.3
Job Growth
¯
- Texas:
- Rank: 30
- Percent -1.6
- Montana:
- Rank: 22
- Percent: -1.1
- Wyoming:
- Rank: 49
- Percent: -3.9
- New Mexico:
- Rank: 8
- Percent: 0.0
- Washington:
- Rank: 19
- Percent: -0.9
- Colorado:
- Rank: 39
- Percent: -2.2
- Utah:
- Rank: 31
- Percent -1.6
- Idaho:
- Rank: 46
- Percent 3.0
- California:
- Rank: 40
- Percent: -2.5
- Oregon:
- Rank: 17
- Percent: -0.8
- Arizona:
- Rank: 42
- Percent: -2.7
- Nevada:
- Rank: 50
- Percent: -4.8
- United States:
- Percent: -1.7
Personal Income
¯
Source: Estimates compiled by JPMorgan Chase Economic Outlook Center, W. P. Carey School of Business, Arizona State University
The Texas economy lost 2.8 percent of its nonfarm jobs in 2009, but that record was better than the average state, and placed Texas among the top 10 performers for the year. Five of the 10 weakest labor markets were in the West. Nevada was dead last in the rankings, as employment fell by 9.1 percent. Arizona ranked 49th, with a decline of 7.3 percent.
Personal income
On the national level, personal income decreased by 1.7 percent. Personal income is made up of all sources of income including wages and salaries, proprietor's income, dividends and interest, and transfer payments such as unemployment benefits. In spite of various programs to boost incomes through transfer payments, personal income fell in 2009 for the first time since 1938.
A decrease in personal income was recorded in 43 states, and all Western states saw income fall, with the exception of New Mexico. Personal income in New Mexico registered neither an increase nor decrease in 2009. Nevada also ranked in 50th position on change in personal income, with a 4.7 percent decrease, more than twice the decline in the average state.
Wyoming ranked in 49th place, as personal income fell by 3.9 percent. In the West, smaller decreases than average were posted in New Mexico, Oregon, Washington, Montana, and Texas.
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