Category: Unemployment

Economy Watch: Most Metro Areas See Declining Unemployment

Unemployment rates were lower in May 2018 than a year earlier in 350 of the 388 U.S. metropolitan areas, higher in only 20 areas, and unchanged in 18 areas, the Bureau of Labor Statistics reported on Wednesday, June 27. Ninety-six areas had jobless rates of less than 3 percent—the national rate is currently 3.8 percent—and a mere two areas are suffering unemployment rates of more than 10 percent.

Farmington, N.M., had the largest year-over-year unemployment rate decrease in May, down 2.2 percentage points. Another 52 metro areas had rate declines of at least 1 percentage point since a year ago. The largest year-over-year unemployment rate increase occurred in the Morgantown, W.Va., metro area (up 0.8 percentage points).

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