Metro Area Unemployment: May 2011Presentation Transcript
Metro Area Unemployment May 2011 data; released June 2011 National Association of REALTORS® Research Division Compilation of Data from the Bureau of Labor Statistics
Among the 27 metro areas reviewed, the Washington DC area had the lowest May 2011 unemployment rate of 5.8 percent while Las Vegas had the highest, at 12.4 percent.
Looking at changes in the last year, 24 large metro areas reviewed saw decreases, or improvement, in the unemployment rate. Only two large metro areas reviewed saw an increase, or worsening, in the unemployment rate in that time period while one metro area had no change in the unemployment rate. By comparison, the unemployment rate in the US decreased by 0.6 percentage points in the year.
Las Vegas had the greatest improvement in unemployment rate over the year. The unemployment rate there fell by 2.5 percentage points, from 14.9 percent to 12.4 percent. Las Vegas actually saw a slight decline in the number of employed coupled with a large decline in the number of unemployed and the number in the labor force. Its labor force decline of 3.4 percent and decline in the number of unemployed of 19.6 percent were the largest among these areas.
Detroit; Portland, OR; Cleveland; Charlotte; and Pittsburgh followed in improvement in the unemployment rate. Each area had a drop of more than 1 percentage point in the year.
New Orleans and Memphis had the only increases in unemployment rate over the year. The unemployment rate in New Orleans is now 8.0 percent, and in Memphis it is 10.1 percent.
Large Metros Unemployment Rate in May 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