SPPI tracks month-to-month job growth/decline in the American Southwest’s eight states, and today’s fresh numbers from the U.S. Department of Labor’s Bureau of Labor Statistics have us concerned.
September saw California, New Mexico, and Oklahoma lose employment for the second month in a row. Colorado’s job count declined as well. And the growth trends in Arizona, Utah, and Texas have slowed considerably.
Nevada, though, remained a bright spot. Its rate of job growth has actually picked up in the last few months — welcome news for an economy that was brutalized by lockdown mandates. (The Silver State’s unemployment rate is one spot behind Illinois for the worst in the nation.)
With disastrous decisions being made at the national level — e.g., more spending/borrowing, anti-energy measures, and further brinksmanship with Russia — it is more important than ever for policymakers at the local and state levels in the Southwest to position their communities to weather the storm that’s coming.