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DC metro unemployment rate falls to pandemic low

The D.C. metro area’s unemployment rate fell to a pandemic low of 3.5% in July, down from 3.7% in June and 5.4% a year earlier.

The Labor Department’s Bureau of Labor Statistics reports unemployment rates were lower than a year earlier in 383 of the nation’s 389 metropolitan statistical areas. Ninety-one cities had unemployment rates of less than 3%.



Seven cities tied for the lowest July unemployment rate at just 1.7%:

  • Burlington, Vermont;
  • Fargo, North Dakota;
  • Logan, Utah;
  • Mankato, Minnesota;
  • Portsmouth, New Hampshire;
  • Rochester, Minnesota;
  • Sioux Falls, South Dakota.

Yuma, Arizona had the highest unemployment rate in July at 18.4%.

Among cities with a population of 1 million or more, Minneapolis had the lowest unemployment rate at 2%, and Las Vegas had the highest, at 5.6%.

Metropolitan unemployment rates are not seasonally adjusted.

See monthly metropolitan unemployment rates and changes in nonfarm payrolls online.

Oil prices slip and Asian shares are mostly lower as investors sell chipmaker stocks

HONG KONG (AP) — Oil prices fell Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two days. Crude prices remain volatile after the U.S. said early Thursday it had conducted a “heavy wave” of strikes against Iran, responding to an attack on a U.S. base. U.S. futures edged higher after losses on Wall Street. In South Korea, recent drops in its benchmark Kospi, a big beneficiary of the global boom in artificial intelligence, have been seen by some analysts as a reflection of broader doubts about massive investments by technology giants in expanding capacity for AI.
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