Having said that, US is very diverse country. Unemployment situation is differ dramatically by the metropolitan area. In addition, unemployment is now key reason for real estate value as it leads to foreclosure or distressed sales. It is very important to understand by metro unemployment situation in order to understand health of your real estate markets.
Below is unemployment data of Top 50 US metropolitan areas and its increase over past 12 month.
下記は、US Censusの2009年5月のアメリカの50大都市圏での失業率と過去一年間の増加ポイントです。
- 5 out of worst 10 metros are in California. This is reflection of California's real estate dependent economy and severe slow down of economy after bubble burst. No wonder state income is 30% below its budget.
- Metros with worst increase in unemployment rate are; 1. Detroit +6.6 (massive lay off in auto industory); 2. Riverside-San Bernardino CA +5.6 (too much dependence in contruction and real estate); 3. Charlotte NC +6.2 (Corrupse of Wachovia); 4. Providence RI +5.0; 5 (slump in manufacturing). Portland OR +6.7（http://bit.ly/9T06M）; 6. Atlanta GA +5.1; 7. San Jose CA +5.7; 8. Las Vegas NV +5.4; 9. Sacramento CA +4.8; 10. Los Angeles CA +4.5
- Metros with low unemployment rate are Salt Lake City, Oklahoma City, San Antonio, New Orleans, Austin, Washington DC, Houston, Virginia Beach, Dallas & Pittsburgh. 4 out of 10 are located in Texas. It prove the era of Texas.
| Rank | Metropolitan Stastical Area | Unemployment | Increase |
| 1 | Detroit-Warren-Livonia, MI MSA | 14.9% | 6.6 |
| 2 | Riverside-San Bernardino-Ontario, CA MSA | 13.0% | 5.6 |
| 3 | Charlotte-Gastonia-Concord, NC-SC MSA | 12.0% | 6.2 |
| 4 | Providence-New Bedford-Fall River, RI-MA MSA | 12.0% | 5.0 |
| 5 | Portland-Vancouver-Beaverton, OR-WA MSA | 11.6% | 6.7 |
| 6 | Atlanta-Sandy Springs-Marietta, GA MSA | 11.3% | 5.1 |
| 7 | San Jose-Sunnyvale-Santa Clara, CA MSA | 11.2% | 5.7 |
| 8 | Las Vegas-Paradise, NV MSA | 11.1% | 5.4 |
| 9 | Sacramento-Arden-Arcade-Roseville, CA MSA | 11.1% | 4.8 |
| 10 | Los Angeles-Long Beach-Santa Ana, CA MSA | 10.7% | 4.5 |
| 11 | Tampa-St. Petersburg-Clearwater, FL MSA | 10.6% | 4.7 |
| 12 | Chicago-Naperville-Joliet, IL-IN-WI MSA | 10.5% | 4.4 |
| 13 | Orlando-Kissimmee, FL MSA | 10.2% | 5.0 |
| 14 | Louisville-Jefferson County, KY-IN MSA | 10.2% | 4.5 |
| 15 | Cleveland-Elyria-Mentor, OH MSA | 10.0% | 3.5 |
| 16 | San Francisco-Oakland-Fremont, CA MSA | 9.7% | 4.6 |
| 17 | Jacksonville, FL MSA | 9.7% | 4.5 |
| 18 | Memphis, TN-MS-AR MSA | 9.7% | 3.3 |
| 19 | Miami-Fort Lauderdale-Pompano Beach, FL MSA | 9.4% | 4.2 |
| 20 | Cincinnati-Middletown, OH-KY-IN MSA | 9.4% | 4.0 |
| 21 | San Diego-Carlsbad-San Marcos, CA MSA | 9.4% | 4.0 |
| 22 | Nashville-Davidson–Murfreesboro–Franklin, TN MSA | 9.3% | 4.1 |
| 23 | Milwaukee-Waukesha-West Allis, WI MSA | 9.0% | 4.7 |
| 24 | St. Louis, MO-IL MSA | 9.0% | 3.1 |
| 25 | Raleigh-Cary, NC MSA | 8.9% | 4.3 |
| 26 | Seattle-Tacoma-Bellevue, WA MSA | 8.8% | 4.3 |
| 27 | Birmingham-Hoover, AL MSA | 8.7% | 4.9 |
| 28 | Kansas City, MO-KS MSA | 8.6% | 3.3 |
| 29 | Indianapolis-Carmel, IN MSA | 8.5% | 3.9 |
| 30 | Columbus, OH MSA | 8.3% | 3.2 |
| 31 | Buffalo-Niagara Falls, NY MSA | 8.3% | 2.6 |
| 32 | New York-Northern New Jersey-Long Island, NY-NJ-PA MSA | 8.2% | 3.4 |
| 33 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA | 8.2% | 3.3 |
| 34 | Richmond, VA MSA | 8.1% | 4.2 |
| 35 | Hartford-West Hartford-East Hartford, CT MSA | 7.9% | 2.5 |
| 36 | Minneapolis-St. Paul-Bloomington, MN-WI MSA | 7.8% | 3.1 |
| 37 | Baltimore-Towson, MD MSA | 7.6% | 3.5 |
| 38 | Boston-Cambridge-Quincy, MA-NH MSA | 7.5% | 3.0 |
| 39 | Denver-Aurora, CO MSA | 7.5% | 3.0 |
| 40 | Phoenix-Mesa-Scottsdale, AZ MSA | 7.3% | 3.1 |
| 41 | Pittsburgh, PA MSA | 7.3% | 2.6 |
| 42 | Dallas-Fort Worth-Arlington, TX MSA | 7.1% | 2.5 |
| 43 | Virginia Beach-Norfolk-Newport News, VA-NC MSA | 7.0% | 3.2 |
| 44 | Houston-Sugar Land-Baytown, TX MSA | 6.9% | 2.5 |
| 45 | Washington-Arlington-Alexandria, DC-VA-MD-WV MSA | 6.2% | 2.7 |
| 46 | Austin-Round Rock, TX MSA | 6.1% | 2.2 |
| 47 | New Orleans-Metairie-Kenner, LA MSA | 6.0% | 2.6 |
| 48 | San Antonio, TX MSA | 5.8% | 1.7 |
| 49 | Oklahoma City, OK MSA | 5.7% | 2.1 |
| 50 | Salt Lake City, UT MSA | 5.2% | 2.2 |
This is ranking of Top 50 largest metros in US. If you are interested in data on all US metros, please check out Wall Street Journal article.
Happy Investing!!!
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