January 03, 2022
The US Bureau of Labor Statistics revealed that unemployment rates were lower in November than a year ago in all 389 metropolitan areas. A total of 139 areas had unemployment rates of less than 3.0%, while two areas had rates of more than 10.0%. Nonfarm payroll employment grew throughout the course of the year in 100 metropolitan areas and remained substantially unchanged in 289 areas. The national unemployment rate, in November, was 3.9%, not seasonally adjusted, down from 6.4% the previous year.
Metropolitan Division Unemployment (Not Seasonally Adjusted)
Eleven of the most populous metropolitan areas are comprised of 38 metropolitan divisions, which are essentially distinct employment centers. Nashua, NH-MA, had the lowest division unemployment rate in November, at 2.1%. The division with the highest rate, 7.1%, was Los Angeles-Long Beach-Glendale, CA. In November, the unemployment rate in each of the 38 metropolitan divisions fell year over year. Detroit Dearborn-Livonia, MI, experienced the greatest rate decrease (-7.1 percentage points) whereas West Palm Beach-Boca Raton-Delray Beach, FL experienced the smallest rate decrease (-0.9 percentage point).
Metropolitan Division Nonfarm Employment (Not Seasonally Adjusted)
Nonfarm payroll employment grew in 26 metropolitan divisions in November and remained virtually constant in 12 divisions year on year. Among the metropolitan divisions, New York-Jersey City-White Plains, NY-NJ (+279,300), Los Angeles-Long Beach-Glendale, CA (+250,900), and Dallas-Plano-Irving, TX (+156,300) experienced the most year-over-year growth in employment. Over-the-year percentage growth in employment were highest in San Francisco-Redwood City-South San Francisco, CA (+7.1%), Camden, NJ (+6.7%), and Boston-Cambridge Newton, MA (+6.3%).
Analyst Certification –The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure –The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.