Finance Globe

U.S. financial and economic topics from several finance writers.
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Unemployment Rate Drops

Most U.S. cities have seen a drop in the unemployment rate over the past year, a government agency reported on Thursday.

The unemployment rate dropped in 317 of the 372 metropolitan areas surveyed by the Labor Department’s Bureau of Labor Statistics in the twelve-month period beginning in March 2010. It was higher in 44 metros, and remain unchanged in 11 areas.

The national average unemployment has dropped 1 percentage point in that same time period - from 10.2% down to 9.2% in March, the BLS said.

Fourteen areas had jobless rates of 15% or more. Twelve of those were located in California, including El Centro - the metropolitan area with the highest unemployment rate in the nation at 24.6% in March. Three other areas also had jobless rates of 20% or higher.

Only eight metropolitan areas recorded unemployment rates of 5% or less. Lincoln, Nebraska had the lowest jobless rate in the nation at 4.1%, closely followed by Bismark, North Dakota at 4.2%.

In March, 112 metropolitan areas reported jobless rates of at least 10.%, down from 166 areas a year earlier, while 65 areas posted rates below 7.% percent, up from 44 areas a year earlier. three

A total of 219 areas recorded March unemployment rates below the national average of 9.2%, 150 areas reported rates above it, and 3 areas had rates equal to that of the U.S. figure.
Bureau of Labor Statistics

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Monday, 22 April 2024

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