US BLS: 2.3 million job losses in California in April

Eren Sengezer FXStreet

"Unemployment rates rose and nonfarm employment fell in all 50 US states and the District of Columbia in April," the US Bureau of Labor Statistics said on Friday.

"Nevada had the highest unemployment rate in April at 28.2% and 43 states set series highs," the BLS further noted in its statement. "Three largest state job losses in April were California (-2.3 million), New York (-1.8 million), Texas (-1.3 million).

Market reaction

This statement was largely ignored by the market participants. As of writing, the Dow Jones Industrial Average was down 0.6% on the day while the S&P 500 was losing 0.32% at 2,939 points.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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