According to a March 18th report by the Bureau of Labor Statistics, unemployment rates were lower in January than a year earlier in 282 of 372 metropolitan areas. Employment rates were lower in 73 areas, and unchanged in 17 areas. The national unemployment rate in January was 9.8%, down from 10.6% a year earlier.
The largest over-the-year employment increases in employment among the metropolitan divisions, were in Dallas-Plano-Irving Texas, up 2.7%. Of the 49 Metropolitan areas with a resident population of 1 million or higher, the highest unemployment rates were in the Riverside-San Bernardino-Ontario areas, and lowest in the Washington-Arlington-Alexandria Virginia areas.
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Companies will use these statistics to gauge and make decisions on products and services to offer, new products and services to bring to market, budgets and hiring.
Even more telling, in January of 2011, 30 out of the 34 most populous metropolitan areas reported over-the-year jobless rate decreases. This will be very powerful information and put pressure on companies that have been on the sidelines on hiring to date.
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