Unemployment Rate Increases in Some Metro Areas
A new data from the US Labor Department showed that the unemployment rate in some 162 metro areas across the country has increased in October, adding to the burden of job scarcity.
Meanwhile, the White House said that they will hold a “jobs summit” together with major corporations and economists in a bid to curb jobless rate in the US.
A day before the Obama administration hold its “jobs summit” at the White House, the Labor Department has released a new data showing that unemployment rate in most metro areas in the country has worsened or flat-lined.
Based on the new data, jobs across the country remained scarce with the jobless rate rising in some 162 out of 372 metro areas included in the survey. Meanwhile, jobless rate in some 42 areas remained unchanged while 162 areas have recorded decline in unemployment.
Meanwhile, the White House said that it will hold a job summit that aims to gather academics, economists, and corporate executives that will help the government to spur jobs creation.It will be recalled that the unemployment rate has already improved in some 223 areas while some 123 worsened in September.
The Labor Department said that the unemployment rate in these metro areas is volatile from month after month of changes since it is not seasonally adjusted. The government also said that the unemployment rate in these areas vary depending on the number of industries and corporations operating the said areas.
Due to this, manufacturing metro areas like Michigan and Indiana were hit by unemployment rate the hardest while California, Arizona, and Sun Belt cities were suffering from the downed housing markets.
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