Unemployment rises in nearly all U.S. cities!
WASHINGTON - August 3, 2011 - Unemployment rates rose in more than 90% of U.S. cities in June, mirroring a national slowdown in hiring.
The Department of Labor said Wednesday that unemployment rates rose in 345 large metro areas. They dropped in 20 cities and were unchanged in seven. That's worse than May, when rates rose in only 210 cities; and it is a sharp reversal from April, when unemployment rates fell in nearly all metro areas.
The biggest increase was in Joplin, Missouri, which was hit by a major tornado on May 22. The city lost 9,400 jobs in June, and the unemployment rate jumped nearly 2%, to 9.6%.
The official national unemployment rate ticked up to 9.2% in June, the highest level this year.
Businesses have cut back on hiring this spring. Employers added only 18,000 jobs in June, the fewest in nine months. That's down sharply from an average of 215,000 net job gains each month in the February-April period.
Economic growth declined to less than 1% in the first half of this year. That's the slowest pace in more than two years.
Stagnant wages and high gas prices have cut into consumer spending, which accounts for 70% of economic activity. Spending fell in June for the first time in 20 months, the government said Tuesday.