Unemployment Sucks, If You're In the City...
Go figure, national unemployment numbers don't exactly show the suffering of urban job-seekers looking for gainful employment in places like Las Vegas and Detroit. I'd tell you all about San Francisco but frankly this place has been a ghost town since 2008, all the scared little Midwesterners running back to Mommy have sold their overpriced $500,000 condos and dropped out of the rat race. So don't trust those numbers. As always.
The job market in April was tougher than a year ago in hundreds of U.S. metropolitan areas, according to data the U.S. Labor Department released Wednesday.
The unemployment rate in April was higher than a year earlier in 291 of the 372 metropolitan areas covered by the Labor Department report. It was lower in 73 areas and unchanged in eight areas.
The national unemployment rate in April was 9.5%, not seasonally adjusted. But 14 areas—11 of which were in California—reported unemployment rates of at least 15%.
The Las Vegas-Paradise region of Nevada had the largest year-over-year jump in its April unemployment rate. Its jobless rate hit 14.2% in April, up 3.7 percentage points from a year ago. In addition, four other areas had year-over-year rate increases of more than three percentage points in April: Farmington, N.M.; Yuba City, Calif.; Rockford, Ill.; and Yuma, Ariz.
Elkhart-Goshen, Ind., posted the largest year-over-year decrease in the April unemployment rate, which was down 4.8 percentage points to 14.1%.
Eight areas reported jobless rates below 5%. Bismarck, N.D. had the lowest April unemployment rate at 3.6%.
Among metropolitan areas with a population of one million or more in the 2000 census, the Detroit-Warren-Livonia area of Michigan had the highest unemployment rate in April at 14.8%. That was followed by the Las Vegas-Paradise region and the Riverside-San Bernardino-Ontario, Calif. area, at 14.2%.
Viva la recovery!