Latest In

News

Unemployment Falls in 93 Percent of Metro Areas

Today, the Labor Department released its April survey of unemployment in 372 metropolitan areas across the United States. And it is a very good report: The rate

Jul 31, 2020
15.2K Shares
636.2K Views
Today, the Labor Department releasedits April survey of unemployment in 372 metropolitan areas across the United States. And it is a very good report: The rate of joblessness dropped in 346 areas, rose in 12 and remained flat in 14. That is a significant month-to-month improvement, as in March, unemployment fell in 257 metro areas and climbed in 89.
The report bodes well for Friday’s major jobs report. Economists expectthe economy to have added 500,000 jobs and the overall unemployment rate to track down. The data will be slightly skewed because of temporary census hiring. Still, it will hopefully augur an accelerating recovery, given that the weekly initial jobless claims and other metrics have stagnated.
Year-on-year, the stats are less good: The unemployment rate rose in 291 metro areas and fell in 73. In April, El Centro, Calif., recorded the highest rate of joblessness — 27.9 percent. The state in general carried the greatest number of hard-hit areas. Of 14 metro areas with unemployment rates above 15 percent, 11 were in California.
Camilo Wood

Camilo Wood

Reviewer
Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
Latest Articles
Popular Articles