Unemployment falls in three-quarters of US cities

Noticed some good news today from the markets on Yahoo.com

Unemployment rates are falling in most metro areas across the country, suggesting that recent nationwide gains in hiring are widespread and not limited to a few healthy regions.

More than three-quarters of the nation’s 372 largest metro areas reported lower unemployment rates in February than the previous month, the Labor Department said Wednesday. That’s the most to report a decline since September.

And more than 300 areas added jobs in February compared to the previous month. That’s a much better showing than January, when most metro areas lost jobs.

The gains “are definitely becoming a lot more broad-based,” said Marisa DiNatale, a regional economist at Moody’s Analytics.

The metro areas that posted the biggest job gains in February, compared with the previous month, were: Los Angeles-Long Beach, with a gain of 53,600; New York City-Northern New Jersey, a gain of 18,500; and Miami-Fort Lauderdale, up 16,800.

Many big cities also saw steep drops in unemployment from January to February. The rate dropped from 9.3 percent to 8.8 percent in Phoenix; from 7.3 percent to 6.9 percent in the Austin, Texas metro area; and from 11.5 percent to 10.6 percent in Jacksonville, Fla.

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