Tuesday, May 7, 2024

Austin area ties for lowest unemployment rate for metropolitans over 1 million

austinUnemployment rates were lower in June than a year earlier in 359 of the 372 
metropolitan areas, higher in 10 areas, and unchanged in 3 areas, the U.S. 
Bureau of Labor Statistics reported this week. Ten areas had jobless rates of  at least 10.0 percent and 74 areas had rates of less than 5.0 percent. Nonfarm payroll employment increased over the year in 307 metropolitan areas, decreased in 55 areas, and was unchanged in 10 areas. The national unemployment rate in June was 6.3 percent, not seasonally adjusted, down from 7.8 percent a year 
earlier.

Yuma, Ariz., and El Centro, Calif., had the highest unemployment rates in June,26.9 percent and 22.0 percent, respectively. Bismarck, N.D., had the lowest 
unemployment rate, 2.6 percent, followed by Midland, Texas, 2.9 percent. A total 
of 205 areas had June unemployment rates below the U.S. figure of 6.3 percent, 
157 areas had rates above it, and 10 areas had rates equal to that of the nation. 
(See table 1.)

Longview, Wash., had the largest over-the-year unemployment rate decrease in June 
(-3.4 percentage points). The next largest declines were in Decatur, Ill. (-3.3 
percentage points); Rocky Mount, N.C. (-3.2 points); and New Bedford, Mass. (-3.0 
points). Eighty-eight other areas had rate decreases of at least 2.0 percentage 
points. Florence-Muscle Shoals, Ala., had the largest over-the-year jobless rate 
increase (+0.9 percentage point).

Of the 49 metropolitan areas with a Census 2000 population of 1 million or more, 
Detroit-Warren-Livonia, Mich., had the highest unemployment rate in June, 9.2 
percent. Austin-Round Rock-San Marcos, Texas, and Minneapolis-St. Paul-Bloomington, 
Minn.-Wis., had the lowest jobless rates among the large areas, 4.4 percent and 
4.5 percent, respectively. Forty-eight of the large areas had over-the-year 
unemployment rate decreases, while one had an increase. The largest unemployment 
rate decline occurred in Chicago-Joliet-Naperville, Ill.-Ind.-Wis. (-2.8 
percentage points). Birmingham-Hoover, Ala., had the only jobless rate increase 
(+0.1 percentage point).

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