When the U.S. labor market is discussed, the national figures naturally take center stage. But the employment picture across the country can be very different -- not just between states, but from city to city, too. The recent jobs figures for February show a great variation among the country’s largest metropolitan areas. While some are doing extremely well, others are plagued with astronomical unemployment rates that are getting even worse.
The five worst-off metropolitan regions had unemployment rates of 17.6 percent or more in February -- more than double the national unemployment rate of 8.7 percent. Meanwhile, the five best regions had unemployment rates of 4.2 percent or less -- less than half the national average. 24/7 Wall St. reviewed the jobs market conditions in the five best and five worst-off cities.
Between February 2011 and February 2012, according to the Bureau of Labor Statistics, the non-seasonally-adjusted unemployment rate nationwide fell from 9.5 percent to 8.7 percent. In most of the nation’s largest metropolitan regions, the jobless rate followed a similar pattern. However, in 19 cities -- the majority of which are in New York State -- the jobless rate worsened rather than improved. Read more.....
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