TED: The Economics Daily

South Dakota had the lowest annual average unemployment rate among the states in 2024, 1.8 percent. Unemployment rates were 2.3 percent in Vermont and 2.4 percent in North Dakota. Two states, Arizona and Pennsylvania, had record low unemployment rates in 2024, both 3.6 percent.

Real average hourly earnings for all employees increased 1.2 percent from February 2024 to February 2025. The change in real average hourly earnings combined with a 0.6-percent decrease in the average workweek resulted in a 0.6-percent increase in real average weekly earnings over this period.

Over the year ended February 2025, the Consumer Price Index for All Urban Consumers increased 2.8 percent. Food prices rose 2.6 percent, while energy prices decreased 0.2 percent. Prices for all items less food and energy increased 3.1 percent, the smallest 12-month advance since April 2021 (3.0 percent).

On the last business day of January 2025, there were 6.8 million unemployed people and 7.7 million job openings. This yielded a ratio of unemployed people to job openings of 0.9 for January, a figure unchanged since October 2024.