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Severe unemployment worsens in cities

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Hibah Yousuf
CNN Money
Wednesday, January 6, 2010

NEW YORK (CNNMoney.com) — The number of U.S. metropolitan areas with jobless rates above 15% increased in November, according to government figures released Tuesday, despite the biggest one-month drop in the national rate in more than three years.

The Labor Department said 17 of 372 metropolitan areas surveyed suffered unemployment rates of at least 15% last month, up from 15 metro areas in October.

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National unemployment improved to a seasonally adjusted 10% in November from the 26-year high of 10.2% hit in October. The rate had climbed for 12 out of the previous 13 months before November. Economists surveyed by Briefing.com expect the national rate to edge up to 10.1% when the Labor Department releases its December jobs report Friday.

Three areas in Michigan posted jobless rates higher than 15%, including Detroit. The city wrecked by the collapse of the auto industry continued to lead the nation’s areas of 1 million people or more with the highest unemployment rate in November at 15.4%.

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This article was posted: Wednesday, January 6, 2010 at 10:52 am





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