Severe unemployment worsens in cities

By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- The number of U.S. metropolitan areas with jobless rates above 15% increased in November, according to government figures released Tuesday, despite the biggest one-month drop in the national rate in more than three years.

The Labor Department said 17 of 372 metropolitan areas surveyed suffered unemployment rates of at least 15% last month, up from 15 metro areas in October.

National unemployment improved to a seasonally adjusted 10% in November from the 26-year high of 10.2% hit in October. The rate had climbed for 12 out of the previous 13 months before November. Economists surveyed by Briefing.com expect the national rate to edge up to 10.1% when the Labor Department releases its December jobs report Friday.

Three areas in Michigan posted jobless rates higher than 15%, including Detroit. The city wrecked by the collapse of the auto industry continued to lead the nation's areas of 1 million people or more with the highest unemployment rate in November at 15.4%.

California's Inland Empire, including Riverside, San Bernardino and Ontario, ranked second to Detroit among larger areas with an unemployment rate of 14.2% in November.

El Centro, Calif., held its place as the metropolitan area with the highest unemployment rate at 29.2%, down from an upwardly revised 31.9% in October.

The second highest rate was in Yuma, Ariz., at 21.1%, a drop from 23.3% in October.

Jobless rates were higher than 10% in 125 metropolitan areas in November, up from 123 in October.

Overall, 143 cities in the Labor Department report had unemployment rates above the non-seasonally adjusted national figure of 9.4%, while 229 reported jobless rates below it.

The three metro areas with the lowest unemployment rates in November were all in North Dakota, with Bismarck at 3.4%, followed by Fargo and Grand Forks at 3.7%.

Large cities with the lowest jobless rates were New Orleans and the Washington, D.C. metro areas, each at 6.1%. Oklahoma City followed close behind with an unemployment rate of 6.4%. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 16,380.41 263.17 1.63%
Nasdaq 4,258.44 41.05 0.97%
S&P 500 1,886.76 24.00 1.29%
Treasuries 2.19 -0.01 -0.50%
Data as of 9:11am ET
Company Price Change % Change
AbbVie Inc 53.37 0.47 0.89%
Wells Fargo & Co 48.69 0.56 1.16%
Regions Financial Co... 9.10 0.04 0.44%
JPMorgan Chase and C... 56.20 1.12 2.03%
KeyCorp 12.35 0.16 1.31%
Data as of Oct 17

Sections

Russian authorities are continuing their crackdown on McDonald's, forcing the closure of a handful of restaurants and investigating roughly half of the country's 400 locations. More

Economists concerned over rapidly rising corporate debt levels in China are sounding the alarm, warning that major changes are needed to avoid an increase in "zombie" banks and firms. More

A new Gallup poll shows that one-third of Americans prefer their boss to be a man. More

As North Dakota's oil boom rages on, the droves of job seekers who have flocked there over the past few years are finally starting to move their spouses to the area and settle down. The result? Lots of babies. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.