Now that metro area unemployment rates for December have been released, it’s time for an update. For metro areas with populations of 1 million or more as of the 2010 census, here are the 10 lowest unemployment rates:
Topping the list, is Boston with an unemployment rate of 2.5%. Only two other large metros had an unemployment rate below 3%: Denver (2.6%), and Salt Lake City (2.7%). For comparison, the national unemployment rate for December was 4.5%.
Among large metro areas, Boston also tops the list for largest decrease in the unemployment rate over the course of 2016, dropping 1.5% from an already low rate of 4% in December, 2015:
Other metro areas to have seen a decrease in unemployment of 1% or more were Las Vegas (1.2%), Detroit (1.1%), Hartford, CT (1.1%), Seattle-Tacoma (1.0%), and Providence, RI (1.0%). The national unemployment rate fell 0.3% over the course of 2016. The outlier in this list is Detroit with an unemployment rate of 10.4% as of December, more than twice the national rate.
Of the 51 metro areas with population of at least 1 million, only twelve saw unemployment increase over the course of 2016:
Most of these metros had low unemployment rates as of December, 2015, and for most of them the increase has only been a fraction of a percent. However, Cleveland not only saw the largest increase in unemployment over 2016, it also has the highest unemployment rate of 10.7% as of December, 2016. Only Detroit comes close with its 10.4% unemployment rate (though Detroit’s unemployment rate decreased in 2016). All other larger metro areas posted unemployment rates less than 5.5% in December.