North Dakota labor markets are going to be a key to deciding the future course of the economy in the state. I discuss the big picture for just a few measures and it is not great news.
I made my class predict the next monthly unemployment observation. The result is in.
Economic statistics are unable to keep up with the pace of change right now, so I tried to come up with a more accurate picture of the unemployment situation in North Dakota.
What once could be viewed as distinguishing labor market characteristics are less distinctive and may signal problems to some businesses.
Unemployment is not a useful policy metric in North Dakota, though it gets mentioned often. I look at the recent data, map it, and discuss.