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February 6, 2008Not-So-Super Tuesday for State Labor Markets |
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From Economic Policy Institute: "Super Tuesday" on February 5th will mark an important convergence of two important phenomena. It will, of course, be the biggest step yet in selecting the next President, but it will also be the first coast-to-coast election since the nation's economic troubles became front page news. One sign of economic trouble is a rising unemployment rate. When the labor market weakens it hurts not just those who are out of work, but also suppresses pay levels for working people from the lowest-paid through middle-income families. Pay raises are fewer and farther between when unemployment is high. Over this period, Massachusetts has fared best, with its unemployment rate falling from 4.9% to 4.5%. But, in the face of a troubled national economy, it is unlikely that any state will be able to buck the trend for long. This will, no doubt, be on the minds of voters as they cast their votes next Tuesday. To see how the 24 "Super Tuesday" states are faring over recent months in terms of unemployment rates, health care coverage, pension rates, and other important economic indicators, read EPI's new Issue Brief.
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