Majority of Metropolitan Areas See No Change in Nonfarm Payroll Employment
The U.S. Bureau of Labor Statistics has reported that unemployment rates in October were higher than a year earlier in 223 of the 389 metropolitan areas. These figures contrast with the 137 areas where unemployment rates dropped and the 29 areas where they remained unchanged. Notably, only six areas boasted jobless rates below 2.0 percent, while three areas struggled with rates of at least 8.0 percent.
This development comes alongside a relatively static nonfarm payroll employment scenario, with 52 metropolitan areas experiencing a year-over-year increase in employment, while 337 areas saw no significant change. The national unemployment rate stood at 3.6 percent, not seasonally adjusted, marking a slight increase from the previous year's 3.4 percent.
The Bureau's report draws on data from two monthly surveys, focusing on the civilian labor force and unemployment statistics based on residence, as well as employment data from an establishment survey measuring nonfarm employment, hours, and earnings by industry based on establishment locations.
In a detailed breakdown of metropolitan areas, Bismarck, ND, emerged with the lowest unemployment rate at 1.4 percent, followed by Fargo, ND-MN, at 1.5 percent. On the opposite end, El Centro, CA, recorded the highest rate at 19.3 percent. Interestingly, 220 areas reported jobless rates below the national figure of 3.6 percent, while 145 areas exceeded it.
The report also highlights significant regional disparities. Kahului-Wailuku-Lahaina, HI, witnessed the largest year-over-year unemployment rate increase of 3.4 percentage points, with 27 other areas also seeing rises of at least 1.0 percentage point. Conversely, Grants Pass, OR, experienced the most substantial decrease, with a drop of 1.5 percentage points.
Among larger metropolitan areas with populations over 1 million, Baltimore-Columbia-Towson, MD, and Birmingham-Hoover, AL, shared the lowest unemployment rates at 2.2 percent each, while Las Vegas-Henderson-Paradise, NV, faced the highest rate at 5.4 percent. Notably, 32 large areas saw increases in unemployment rates over the year, whereas 13 witnessed decreases.
The report also covers employment trends within metropolitan divisions. Miami-Miami Beach-Kendall, FL, reported the lowest division unemployment rate at 1.6 percent, while Detroit-Dearborn-Livonia, MI, faced the highest at 5.5 percent. Over the year, 20 metropolitan divisions experienced increases in unemployment rates, with the largest occurring in Newark, NJ-PA.
Focusing on nonfarm employment, the largest year-over-year employment increases were observed in New York-Newark-Jersey City, NY-NJ-PA, Dallas-Fort Worth-Arlington, TX, and Los Angeles-Long Beach-Anaheim, CA. Among large metropolitan areas, Jacksonville, FL, Raleigh, NC, and Dallas-Fort Worth-Arlington, TX, led the percentage increases in employment.