On May 1^st, financial experts throughout the United States were once again encouraged by the BLS’ latest “Metropolitan Area Employment and Unemployment” report. According to the report, which focused specifically on data from March, national joblessness continued to decelerate, as unemployment was lower in 306 of the nation’s 372 metro areas in March 2013 than it was in March 2012.

At the same time, 157 areas reported jobless rates of less than seven percent, an increase of 44 areas, when compared to March 2012, while 44 areas’ unemployment rates were 10 percent or higher. Unsurprisingly, two of these areas, Yuma, Ariz., and El Centro, Calif., once again documented the country’s highest unemployment rates, at 26 and 23.7 percent, respectively.

On the other hand, for the fourth consecutive month, Midland, Texas, recorded the nation’s lowest jobless rate – 3.1 percent. Meanwhile, on a non-seasonally adjusted basis, 202 metro areas’ unemployment rates were lower than March’s national rate of 7.6 percent, as nonfarm payroll employment rose in 287 metro areas, from March 2012 to March 2013.

In addition, the BLS published the following figures concerning regional inflation and employment.

Source: BLS

• Mid–Atlantic: Morgantown, W.Va.’s jobless rate decreased for the second straight month in March, from 5.6 to 4.8 percent, as total unemployment declined to 3,300, the lowest monthly figure recorded since November 2012. Although the civilian labor force also deteriorated, employment did increase, rising to 64,100. (Link: http://www.bls.gov/eag/eag.wv_morgantown_msa.htm)
• Midwest: The greater Chicago 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 0.9 and 0.8 percent, respectively, from March 2012 to March 2013. (Link: http://www.bls.gov/eag/eag.il_chicago_md.htm)
• Mountain-Plains: From March 2012 to March 2013, hiring upturned within a majority of the greater Denver, Colo., area’s private sectors. The rise in employment was mostly pertinent within the education and health services and professional and business services sectors, however, increasing by 4.3 percent. (Link: http://www.bls.gov/eag/eag.co_denver_msa.htm)
• New England: After rising considerably in January, New Haven, Conn.’s unemployment rate has steadily decreased ever since, declining from 8.8 percent in February to 8.5 percent in March. Although total employment rose by 1,100, 26,000 residents were without work in March, the lowest monthly total of the first quarter. (Link: http://www.bls.gov/eag/eag.ct_newhaven_mn.htm)
• New York–New Jersey: Since rising to 9.4 percent in January, the greater New York City area’s jobless rate has begun to decline, falling to 8.1 percent in March. During that time span, the city’s employment situation has vastly improved, as 17,400 more New Yorkers were employed in March than in January. (Link: http://www.bls.gov/eag/eag.ny_newyork_msa.htm)
• Southeast: Hiring increased in most of Charleston, S.C.’s private sectors from March 2012 to March 2013, including finance, information, and leisure and hospitality. Within those three sectors alone, employment rose by 2.2, 4.2, and 1.6 percent, respectively. Of note, government employment also increased, by 2.9 percent. (Link: http://www.bls.gov/eag/eag.sc_charleston_msa.htm)
• Southwest: Despite rising slightly in February, to 7.6 percent, Albuquerque, N.M.’s jobless rate diminished in March, declining to 7.1 percent. In all, 28,200 residents were unemployed, a decrease of 2,000, in comparison to February, while 368,500 were employed, either part-time or full-time. (Link: http://www.bls.gov/eag/eag.nm_albuquerque_msa.htm)
• West: The greater Los Angeles area’s CPI-U and CPI-W each increased by 1.3 percent from March 2012 to March 2013. (Link: http://www.bls.gov/eag/eag.ca_losangeles_md.htm)

After a near two-month hiatus, the BLS released its latest “Metropolitan Area Employment and Unemployment” report on March 22^nd – the first report of the year to focus on 2013 employment data. As usual, the report was encouraging, as a majority of the United States’ metro areas recorded lower unemployment rates in January 2013 than in January 2012.
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On March 1^st, the BLS published its “Regional and State Unemployment – 2012 Annual Averages” report, which featured information regarding regional unemployment rates and employment-population ratios.

The report revealed that joblessness declined in three of the nation’s four primary regions, including the Midwest, South, and West, from 2011 to 2012. When compared to the average unemployment rates from 2011, jobless rates in the Midwest, South and West decreased by 0.9, 1.1, and 1.2 percent, respectively, in 2012. The only region that did not report a decline, the Northeast, recorded an average jobless rate of 8.2 percent – unchanged from 2011.

In the meantime, three of the four regions documented a rise in their average, annual employment-population ratios, which measure the proportion of Americans aged 16 or over who are presently employed, either part-time or full-time.

In the Midwest, the employment-population ratio rose from 60.3 in 2011 to 60.5 in 2012, The ratio ticked upward from 57.6 to 57.9 in the South and rose marginally in the West from 57.6 to 57.7. The Northeast’s employment-population ratio lingered at 58.7 for the second straight year.

Furthermore, the report issued the below data around regional employment-population ratios, unemployment rates, and employment figures.

• Mid–Atlantic: The Mid-Atlantic’s employment-population ratio augmented slightly last year, rising from 57.7 in 2011 to 57.8 in 2012. 1.8 million residents were without work, as the region’s unemployment rate also rose, from 8.4 to 8.5 percent. Nonetheless, the region’s civilian labor force and total employment also increased, rising to 20.7 million and 18.9 million, respectively.
• Midwest: The Midwest’s jobless rate declined considerably, from 8.3 percent in 2011 to 7.4 percent in 2012. Although total employment rose to 31.6 million in 2012, the civilian labor force decreased to 34.1 million. But, the region’s employment-population ratio did increase, rising from 60.3 to 60.5.
• Mountain: The Mountain region’s unemployment rate also fell, dropping from 8.9 to 7.9 percent. Even though the region’s employment-population ratio declined from 59.3 to 59.2, the total number of unemployed residents diminished, falling to 867,000, while the total number of employed residents rose to 10.2 million.
• New England: New England’s jobless rate and employment-population ratio each decreased from 2011 to 2012, declining to 7.2 percent and 61.3, respectively. The region’s total number of unemployed residents also contracted, falling to 560,000. However, New England’s civilian labor force also diminished, signifying the region’s economic recovery is far from complete.
• South: Many economists were pleased with the South’s latest employment data, as the region’s unemployment rate decreased sharply, from 8.8 percent in 2011 to 7.7 percent in 2012. In concert, the region’s civilian labor force and total number of employed residents grew to 56.5 million and 52.2 million, respectively.
• West: The West’s employment-population ratio improved slightly last year, rising from 57.6 to 57.7. But, the region’s noticeable decline in joblessness was perhaps the most encouraging news of the year, as the West’s unemployment rate shrank from 10.4 percent in 2011 to 9.2 percent in 2012. In all, 3.3 million residents were unemployed, a decrease of 409,000 compared to 2011.