Indianapolis Records Lowest Unemployment Among Major Markets
Unemployment rates across the country have improved dramatically over the past year as companies continue hire. In January, up to 33 of the nation’s top 50 markets registered unemployment rates below the U.S. average of 4.4%, according to data from the Bureau of Labor Statistics. Among major U.S. markets, Indianapolis recorded the lowest unemployment rate in January at 2.2%. Indianapolis even edged out Salt Lake City (2.4%) which usually has the lowest unemployment rate nationally. Also recording an unemployment rate below 3% was Nashville (2.9%). On the flip side, New York and Los Angeles posted the highest unemployment rates in January, both at 6.1%. Cleveland and Las Vegas were also among the bottom performers in January, with unemployment at 6% and 5.9%, respectively. However, Las Vegas, Los Angeles and New York had the most improved unemployment rates in January, with each posting declines of 460 to 600 basis points. Those declines were thanks to an improved job market. New York and Los Angeles created the biggest volume of new jobs nationally in the year-ending January, with Las Vegas also ranking among the top 10 job creation markets.