March unemployment rates higher in 269 of 389 US metropolitan areas

06 May '24

2 min read

Mar unemployment rates higher YoY in 269 of 389 US metropolitan areas

Pic: Adobe Stock

Insights

Unemployment rates were higher in March than a year earlier in 269 of the 389 US metropolitan areas, lower in 89 and unchanged in 31.
A total of 77 areas had jobless rates of less than 3 per cent and 12 areas had rates of at least 8 per cent, official data show.
The number of US job openings changed little at 8.5 million on the last business day of March.

Unemployment rates were higher in March than a year earlier in 269 of the 389 metropolitan areas in the United States, lower in 89 and unchanged in 31. A total of 77 areas had jobless rates of less than 3 per cent and 12 areas had rates of at least 8 per cent, the US Bureau of Labor Statistics (BLS) reported recently.

Non-farm payroll employment increased over the year in 51 metropolitan areas, decreased in five areas, and was essentially unchanged in 333 areas. The national unemployment rate in March was 3.9 per cent, not seasonally adjusted, up from 3.6 per cent a year earlier.

The number of US job openings changed little at 8.5 million on the last business day of March.

The number of hires changed little over the month at 5.5 million, while the number of total separations decreased to 5.2 million. Within separations, quits (3.3 million) and layoffs and discharges (1.5 million) changed little.

On the last business day of March, the number of job openings changed little at 8.5 million; this measure was down by 1.1 million year on year (YoY). The job opening rate was little changed at 5.1 per cent in March.

The number of hires in the month changed little at 5.5 million, but was down by 455,000 YoY. The hiring rate, at 3.5 per cent, changed little in March.

The number of total separations in March decreased to 5.2 million—a drop of 339,000 YoY. The separation rate changed little at 3.3 per cent, a BLS release said.

The number of quits in the month was little changed at 3.3 million, but was down by 480,000 YoY. The quitting rate was little changed at 2.1 per cent.

In March, the number and rate of layoffs and discharges changed little at 1.5 million and 1 per cent respectively.

The number of job openings for February was revised up by 57,000 to 8.8 million, the number of hires was revised down by 37,000 to 5.8 million, and the number of total separations was revised down by 20,000 to 5.5 million.

Fibre2Fashion News Desk (DS)

More Textiles News - United States Of America...