MetroMonitor: Tracking Economic Recession and Recovery in America's 100 Largest Metropolitan Areas (2nd Quarter 2012)
| Posted: July 23rd, 2012
The unemployment rate fell in 90 of the top 100 largest metro areas between the fourth quarter of 2011 and the first quarter of 2012. Of the metros experiencing increases in unemployment, 7 of 10 were located in New York (Albany, Poughkeepsie, Rochester, Syracuse, and New York City) and Louisiana (New Orleans and Baton Rouge). Eighty-nine of the top 100, however, still remained above 6% and 11 of these metro areas are still experiencing double-digit unemployment rates. Seven of the 8 metros with the highest unemployment rates are located in California, and 17 of the top 25 metros with the highest rates are located in California or Florida. The three hardest hit metros, Fresno, Stockton, and Modesto, currently have more than 15% of the labor force unemployed. Many of the metros with the lowest unemployment rates are located in the Midwest, including Omaha (4.5%), Madison (4.8%), and Oklahoma City (5.1%). For more see the Brookings Institution MetroMonitor.
Built Environment, Economy
1 Comment »