Recession hits all 50 states, a first in at least 30 years

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More evidence of the recession’s severity: Economic activity contracted in every one of the 50 states in December, according to indexes tracked by the Federal Reserve Bank of Philadelphia.

That’s the first time all states have shown simultaneous declines in the Fed’s 30-year history of tracking the data.

For the fourth quarter overall, economic activity contracted in all but four states: Louisiana, Wyoming and North Dakota, which grew modestly; and Alaska, which was unchanged.

The Philly Fed’s indexes are calculated based on changes in non-farm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements.

Go here for a larger version of the accompanying map showing economic shrinkage or growth state-by-state in the fourth quarter.

Hat tip to the Calculated Risk blog, which posted this data earlier.

-- Tom Petruno