Sunday, January 11, 2009

Expect City by City unemployment rates to worsen

Even though the BLS issued its report earlier this week that the national unemployment rate is at 7.2%, it will be several weeks before they issue data by state & city. So the best they currently have to offer by city is for November-2008 (During which the US unemployment rate was 6.8%.
You can see that Washington DC had only 4.4% unemployment rate, Boston 5.0%, and Houston and Phoenix were both at 5.5%.

Miami was at 6.4% unemployed, Chicago at 6.5%; And Los Angeles came in at 8.1% and Detroit at 9.5%.

Seeing as how the national unemployment rate increased by 50bps since the November reports (from which these cities were pulled), don't be surprised if most of these cities increased by 0.5% themselves once more data is published

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