The US Bureau of Labor Statistics (BLS) released preliminary May 2011 unemployment rates 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.
- In May, an estimated 459,500 people in the Chicago metro area were unemployed out of a labor force of 4.83 million (compared to 4.81 million in April), resulting in a preliminary unemployment rate of 9.5% (not seasonally adjusted). This is a notable decrease from 10.3% one year prior.
- 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 gained 38,700 nonfarm jobs between April and May 2011, bringing total nonfarm employment to 4.30 million.
- Chicago was among 12 of the 15 large metros illustrated in the chart below that experienced an increase in unemployment rates from April to May before seasonal adjustment:
The following summary points refer to preliminary May 2011 unemployment rates in MSAs:
- Among 49 MSAs with a population in 2000 of at least 1 million, 29 exhibited unemployment rates equal to, or less than, the US rate of 8.7% (20 large MSAs, including Chicago, experienced rates above the US rate).
- The lowest unemployment rates among the 49 MSAs mentioned above were in Oklahoma City (4.9%) and Washington, D.C. (5.7%)
- The highest rates among the 49 MSAs mentioned above were in Las Vegas (12.4%) and Riverside, CA (13.2%)
Source: Bureau of Labor Statistics
Note: Preliminary figures are not seasonally adjusted and are subject to revision with the next BLS data release on 08/03/11
The full press release and data for all MSAs can be found on the BLS website.
