DataInvesting

National unemployment rate falling in majority of major cities

Bureau of Labor Statistics finds unemployment rate at 5.1 percent
  • The unemployment rate was higher in June compared to a year ago in 75 metro areas, and it was unchanged in 27 areas.
  • The national unemployment rate in June was 5.1 percent – down from 5.5 percent the same month last year.
  • The largest year-over-year decrease in unemployment was in Los Angeles, while the largest jump was reported in Houston.

In localized markets throughout the nation, unemployment rates are typically faring well, which is great news for real estate agents. According to local unemployment rates by the Bureau of Labor Statistics (BLS), unemployment rates dipped annually in June in 285 out of 387 metropolitan areas. According to the BLS, the unemployment rate was higher in June than a year ago in 75 metro areas throughout the nation, and it remained unchanged in 27 areas. Of all the areas considered, eight of them had an unemployment rate less than 3 percent, while six were on the other end of the spectrum with jobless rates above 10 percent. The national unemployment rate in June was 5.1 percent, the BLS says, which is down from 5.5 percent the same month last year. Considering just the largest 51 metropolitan areas (metros with a population of 1 million or more), the lowest unemployment rate was seen in Austin-Round Rock, at 3.3 percent. And while Austin's job seekers are seeing more opport...