As analysts keep predicting that economic conditions in the country will improve, some claim that it’s not enough to quote national statistics and vague data. Perhaps tangible, localized measures will help paint a clearer picture of where the nation is heading and one of the best is new jobs growth.
Between November 2010 and October 2011, the biggest cities in the country by population added 443,446 jobs. Unemployment in these 250 cities dropped by 7 percent, on average, during the period. Of course, some cities are faring much better than others.
An increase in the total number of new jobs would be great news for the economy. It means that the total number of people working is increasing. And if everything else stays the same, the unemployment rate improves. However, if new jobs are added and the total size of the labor force — those employed or looking for work — goes up too, unemployment actually can become worse. However, data shows that, in general, the cities that added the most jobs as a percentage of total employed also experienced improved unemployment rate, suggesting a strong relationship between the two.
The unemployment rate in five of the cities that added the most jobs as
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