(2Q-2022) States without an income tax led the Southeast and Arkansas’ border region in jobs creation in the first two years of the national economic expansion that began in April 2020, Bureau of Labor Statistics records show.

Florida led the 12-state Southeast region in jobs creation between April 2020 and April 2022, the most recent month reported by the BLS.

 

State Growth Rate
Florida 19.2%
Georgia 17.6%
Kentucky 16.8%
North Carolina 16.4%
South Carolina 16.2%
Tennessee 15.7%
Mississippi 14.1%
West Virginia 13.7%
Arkansas 12.25%
Alabama 12.1%
Virginia 11.77%
Louisiana 11.73%

 

Florida does not have a state income tax.

 

Tennessee and same period. Texas led the six state region that borders Arkansas in the
Tennessee 15.7%
Texas 15.3%
Mississippi 14.1%
Missouri 13.0%
Arkansas 12.25%
Louisiana 11.7%
Oklahoma 9.3%

 

Tennessee and Texas do not have a state income tax.

Nonfarm payroll employment measures jobs creation at the national, state and local levels. The employment data is reported monthly by the Bureau of Labor Statistics.

 

Payroll employment’s role in determining the economy’s position in the national business cycle is discussed in the enclosed article from Talk Business.

–Greg Kaza

Sources:

 

US Business Cycle Expansions and Contractions | NBER

Featured SAE Searchable Databases : U.S. Bureau of Labor Statistics (bls.gov)