Saturday, April 4, 2009

Unemployment Rises in all 372 Metropolitan Areas

According to the
Unemployment rates were higher in February than a year earlier in all 372 metropolitan areas, the Bureau of Labor Statistics of the U.S.Department of Labor reported today. Fourteen areas recorded joblessrates of at least 15.0 percent, while 20 areas registered rates below 5.0 percent. The national unemployment rate in February was 8.9 per-cent, not seasonally adjusted, up from 5.2 percent a year earlier.

There were over 100 metro areas with unemployment over 10% in February 2009---vs. only 12 areas with double-digit unemployment in February 2008.

Unlike in past recessions, this economic downturn is much closer to the Great Depression and Panic of 1907 in regards to how broad based the job losses have become.

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