Metro Area Unemployment Data from December 2011Presentation Transcript
Metro Area Unemployment February 2012 National Association of REALTORS® Research Division Compilation of Data from the Bureau of Labor Statistics
While the unemployment rate is not yet back to normal in most areas, improvement is unmistakable and fairly well-spread geographically.
From one year ago, 24 metro areas have job gains. Of the 27 areas, Houston had the biggest percent growth in payrolls in the last year
Among the 27 metro areas reviewed, the Minneapolis area had the lowest unemployment rate, 5.5 percent in December, while Las Vegas continues to have the highest, at 12.7 percent in December. Both the Washington, DC and Boston areas had unemployment rates under 6 percent in December 2011.
Looking at changes in the last year, 25 large metro areas reviewed saw improvement in the unemployment rate. Among those reviewed, only the Chicago and New York metro areas saw an increase, or worsening, in the unemployment rate in that time period. By comparison, the unemployment rate in the US decreased by 0.8 percentage points in the year.
Las Vegas, NV had the greatest improvement in unemployment rate over the year. The unemployment rate there fell by 2.5 percentage points, from 15.2 percent to 12.7 percent. While Las Vegas saw an increase in the number of employed persons and a decline in the number of those unemployed, the balance was such that the labor force shrank slightly. By comparison, the US labor force was grew slightly in the same period.
Local unemployment rates are pictured in the graphs that follow.
Large Metros Unemployment Rate in December 2011
Unemployment Rate, Phoenix-Mesa AZ
PHXR.EMF (EMPLR) PHXR 10512-11011
Unemployment Rate, Los Angeles-Long Beach-Santa Ana, CA
LASR.EMF (EMPLR) LASR 10512-11011
Unemployment Rate, San Diego CA
SDIR.EMF (EMPLR) SDIR 10512-11011
Unemployment Rate, San Francisco-Oakland-Fremont, CA