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Changes in U.S. Employment

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From the peak of the last expansion (March 2001) to June 2004, employment in the U.S. fell 1.0%. The decrease was most severe in the Great Lakes (–4.6% in Michigan and –3.9% in Ohio), Middle South (–2.1% in Alabama), Northeast (–5.7% in Massachusetts), and Central regions (–3.6% in Colorado), whereas employment generally grew in the Rocky Mountain states, Alaska (6.1%), Florida (3.6%) and Nevada (7%). These changes result from both demographic and economic factors.

Suggested citation: "Changes in U.S. Employment," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-09, pp. 13, 09.01.2004.

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