This morning, the US Bureau of Labor Statistics (BLS) released preliminary May 2010 unemployment rate figures for all Metropolitan Statistical Areas (MSAs). The unemployment rate measures the percentage of the local workforce that reports itself as being out of work, information that the government collects by surveying households.
Summary:
- In May, an estimated 501,400 people in the Chicago metro area were unemployed, for a preliminary unemployment rate of 10.3% (not seasonally adjusted).
- This was a decrease from 10.7% in April 2010, but still above the national rate of 9.3%.
- Nonfarm employment, a separate measure based on data collected directly from employers about the number of jobs they are responsible for, suggests the Chicago MSA added 50,700 jobs between April and May, bringing total nonfarm employment up to 4.25 million.
- Chicago was among 9 of the 15 largest metros that experienced decreases in unemployment rates before seasonal adjustment from April to May, as illustrated in the following chart:
Note: All figures are not seasonally adjusted, preliminary, & subject to revision with the next BLS data release on 07/28/10
The following summary points and map compare preliminary May 2010 unemployment rates in MSAs to the US average:
- Among 49 MSAs with a population in 2000 of at least 1 million, 22 (including Chicago) exhibited unemployment rates above the US rate of 9.3% in May.
- The lowest unemployment rates were in Washington, D.C. (6.0%) and Minneapolis (6.4%)
- The highest rates were in Las Vegas (14.1%) and Riverside, CA (13.9%)
The full press release and data for all MSAs can be found on the BLS website.
