Fourth District Employment Conditions
Fee, Kyle, Economic Trends
The District's unemployment rate fell 0.1 percentage point to 10.1 percent for the month of July. The decrease in the unemployment rate is attributed to a decreases in the number of people unemployed (-0.6 percent), the number of people employed (-0.4 percent) and the labor force (-0.2 percent). Compared to the national rate in July, the District's unemployment rate stood 0.7 percentage points higher and has been consistently higher since early 2004. Since the recession began, the nation's monthly unemployment rate has averaged 0.7 percentage point lower than the Fourth District unemployment rate. From the same time last year, the Fourth District and the national unemployment rates have increased by 3.6 percentage points and 3.6 percentage points, respectively.
There are significant differences in unemployment rates across counties in the Fourth District. Of the 169 counties that make up the District, 32 had an unemployment rate below the national rate in July and 137 counties had rate higher than the national rate. There were 122 District counties reporting double-digit unemployment rates in July. Large portions of the Fourth District have high levels of unemployment. Geographically isolated counties in Kentucky and southern Ohio have seen rates increase as economic activity is limited in these remote areas. Distress from the auto industry restructuring can be seen along the Ohio-Michigan border. Outside of Pennsylvania, lower levels of unemployment are limited to the interior of Ohio or the Cleveland-Columbus-Cincinnati corridor.
The distribution of unemployment …
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Publication information: Article title: Fourth District Employment Conditions. Contributors: Fee, Kyle - Author. Magazine title: Economic Trends. Publication date: September 2009. Page number: 18+. © 2004 Federal Reserve Bank of Cleveland. COPYRIGHT 2009 Gale Group.