Regional unemployment continues to drop

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On January 8th, the BLS released its first “Metropolitan Area Employment and Unemployment” report of 2013, revealing that regional unemployment continued to decline last November.

According to the BLS, 322 of the nation’s 372 metro areas reported a lower jobless rate in November 2012 than November 2011, as only four areas recorded an unemployment rate of 15 percent or higher. Two of these areas, Yuma, Ariz., and El Centro, Calif., once again reported the nation’s highest jobless rates, at 27.5 and 26.6 percent, respectively.

In the meantime, 192 metro areas verified that their unemployment rates were lower than seven percent in November, an increase of 63, when compared to November 2011’s data. Nearly 30 percent of these areas registered jobless rates of five percent or below, including Bismarck, N.D., which recorded the nation’s lowest unemployment rate – 2.6 percent.

The BLS also recently released the following figures regarding regional unemployment and inflation.

Source: BLS

  • Mid–Atlantic: Nonfarm payroll employment rose within a majority of Ocean City, N.J.’s private sectors from November 2011 to November 2012. The city’s leisure and hospitality sector reported the highest upsurge in hiring, as employment rose by 7.1 percent. (Link: http://www.bls.gov/eag/eag.nj_oceancity_msa.htm)
  • Midwest: Springfield, Ill.’s unemployment rate declined for the fourth consecutive month in November, dropping from 7.1 to 6.8 percent. In all, 110,200 residents were employed, roughly 93 percent of the city’s civilian labor force. (Link: http://www.bls.gov/eag/eag.il_springfield_msa.htm)
  • Mountain-Plains: At 4.9 percent, Great Falls, Mont.’s jobless rate remained below the national average in November, as 38,500 residents were employed. Since June, the city’s unemployment rate has decreased by 0.8 percent. (Link: http://www.bls.gov/eag/eag.mt_greatfalls_msa.htm)
  • New England: For the fourth straight month, unemployment diminished within the greater Burlington, Vt., area in November. Since July, the area’s jobless rate has steadily declined, from 4.6 to 3.7 percent. 4,300 residents were without work in November. (Link: http://www.bls.gov/eag/eag.vt_burlington_mn.htm)
  • New York–New Jersey: The greater New York City area’s Consumer Price Index for All Urban Consumers (CPI-U) and Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose by two and 2.1 percent, respectively, from November 2011 to November 2012. (Link: http://www.bls.gov/eag/eag.ny_newyork_msa.htm)
  • Southeast: From November 2011 to November 2012, hiring rose within a majority of Bowling Green, Ky.’s private sectors. The uptick in hiring was especially noticed in the city’s leisure and hospitality and professional and business services sectors, as employment rose by 3.1 and 2.6 percent, respectively. (Link: http://www.bls.gov/eag/eag.ky_bowlinggreen_msa.htm)
  • Southwest: Tulsa, Okla.’s jobless rate declined considerably from October to November, falling from 5.6 to 5.1 percent. The total number of unemployed residents also decreased, from 25,300 to 23,100. Nearly 95 percent of the city’s civilian labor force was employed in November. (Link: http://www.bls.gov/eag/eag.ok_tulsa_msa.htm)
  • West: The greater Los Angeles area’s CPI-U and CPI-W each augmented by 2.1 percent from November 2011 to November 2012. (Link: http://www.bls.gov/eag/eag.ca_losangeles_md.htm)

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