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According to the latest data released by the U.S. Bureau of Labor Statistics, unemployment rates increased in 272 U.S. metropolitan areas in October 2024 compared to the same period last year. Unemployment declined in 98 metropolitan areas during this period, while 19 areas saw no change. The overall national unemployment rate was 3.9 percent, up from 3.6 percent a year earlier.
Nonfarm payroll employment rose year-over-year in 32 metropolitan areas, remained virtually unchanged in 356, and declined in one. Significant employment growth was noted in major hubs like New York-Newark-Jersey City, Dallas-Fort Worth-Arlington, and Houston-The Woodlands-Sugar Land.
Sioux Falls, SD, boasted the lowest unemployment rate at just 1.5 percent. Meanwhile, El Centro, CA faced the highest unemployment rate at a staggering 19.6 percent. The disparity highlights the uneven economic recovery across the U.S., with 224 areas recording jobless rates below the national average and 149 areas exceeding it.
Among the nation's largest cities, Hartford-West Hartford-East Hartford, CT, had the lowest unemployment rate in October at 2.4 percent. On the other hand, Las Vegas-Henderson-Paradise, NV, struggled with the highest rate among large metropolitan areas at 5.8 percent. Notably, Denver-Aurora-Lakewood, CO, witnessed the largest year-over-year unemployment rate increase among large cities.
Among metropolitan divisions, Miami-Miami Beach-Kendall, FL, achieved the lowest unemployment rate at 2.2 percent. Detroit-Dearborn-Livonia, MI, recorded the highest division unemployment rate at 6.2 percent. Employment figures saw minimal change in most divisions, with a few exceptions reporting modest gains.
Significant employment increases were observed in sectors across several regions, with the largest numerical growth in New York-Newark-Jersey City, NY-NJ-PA. In terms of percentage increases, Rochester, MN, and Stockton-Lodi, CA, led with gains of 5.5 percent and 3.9 percent, respectively.
The October 2024 BLS report paints a mixed picture of the U.S. labor market, with ongoing challenges in several urban centers despite pockets of strong employment growth. This divergence underscores the complex economic landscape cities across the nation continue to navigate as they recover from varying degrees of economic disruption.