10 States With the Slowest Rates of Job Growth, 2020
U.S. job growth in 2019 is likely to average 170,000 jobs per month, down from 223,000 in 2018. The decline is partly attributable to fewer available workers to hire with the low unemployment rate. Also, businesses are reluctant to aggressively pursue growth, given increasing economic uncertainty from the intensifying trade war with China.
Hiring in some sectors --particularly health care-- remains robust. Services associated with a growing economy, such as computers, restaurants, and temporary help, are also up.
The weak spots? Retail is shedding workers as stores continue to close. The telecom sector also continues its long decline. The drop in oil prices has led to job cuts in the oil and gas sector. The trade war has hurt demand for agricultural products in farm states. Finally, low population growth is holding job gains in check for some states.
As a result, some states are struggling to add jobs. Every year, The Kiplinger Letterforecasts economic growth in all 50 states (plus the District of Columbia). Check out the 10 states with the slowest projected rates of job growth in 2020.
Hawaii
Population: 1,420,000
Unemployment rate: 2.7%
2019 job growth: 0.4% (2,600 new jobs)
2020 job growth: 0.4% (2,600 new jobs)
Hawaii lags the rest of the West with modest job growth this year and next, constrained by a lack of population growth. Its job creation rate is not expected to change much over the next several years. Similar to California, Hawaii has a high cost of living that likely led to a net emigration of 12,000 to other states last year. The economy has also slowed a
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