November 03, 2021
According to the US Bureau of Labor Statistics, unemployment rates were lower in 386 of the 389 metropolitan areas in September than a year ago, higher in two areas, and unchanged in one region. There were 88 locations with unemployment rates of less than 3.0% and two areas with rates of more than 10%. Nonfarm payroll employment climbed in 90 metropolitan areas over the year, while it remained virtually steady in 299 others. The national unemployment rate was 4.6% in September, not seasonally adjusted, down from 7.7% the previous month.
Metropolitan Division Unemployment (Not Seasonally Adjusted)
Eleven of the most populated metropolitan areas are divided into 38 metropolitan divisions, which are effectively distinct employment centers. Warren-Troy-Farmington Hills, MI, had the lowest division unemployment rate of 2.4% in September, followed by Nashua, NH-MA, with a rate of 2.6%. The division of Los Angeles-Long Beach-Glendale, CA, has the highest rate of 8.2% among the divisions.
In September, the unemployment rate in each of the 38 metropolitan divisions fell over the previous year. The highest rate decrease was in Detroit-Dearborn-Livonia, Michigan (-9.1 percentage points). Camden, New Jersey, saw the smallest fall in rates (-1.1 percentage points).
Metropolitan Division Nonfarm Employment (Not Seasonally Adjusted)
Nonfarm payroll employment climbed in 25 metropolitan divisions in September, while it remained practically steady in 13 divisions year over year. Los Angeles-Long Beach-Glendale, CA (+254,600) had the largest year-over-year gain in employment among the metropolitan divisions, followed by New York-Jersey City-White Plains, NY-NJ (+221,800) and Dallas-Plano-Irving, TX (+140,000).
Anaheim-Santa Ana-Irvine, CA (+7.4%), San Rafael, CA (+7.0%), and San Francisco-Redwood City-South San Francisco, CA (+6.6%) had the highest percentage gains in employment year over year.
Disclaimer
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.
