Fourth District Employment and Business Cycles
The Fourth District’s unemployment rate rose sharply in August to 6.2%, an increase of 0.3 percentage point (pp) from July. This was the sharpest jump in 18 months and the third consecutive increase. Ohio, Pennsylvania, and West Virginia also saw statewide unemployment increases of 0.3 pp in August. By contrast, Kentucky’s unemployment rate fell 0.2 pp to 5.1%, the lowest rate of any state in the District.
Suggested citation: "Fourth District Employment and Business Cycles," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-10, pp. 14-15, 10.01.2004.