WASHINGTON – Unemployment rates fell in two-thirds of large U.S. metro areas in July, a sign of widespread improvement in the job market.
The Labor Department says unemployment rates fell in 239 of the nation’s 372 largest cities in July. That’s the most since April. Rates rose in 103 and were unchanged in 30.
The U.S. unemployment rate fell last month to a 4 1/2-year low of 7.4 per cent. That’s down from 7.6 per cent in June. Employers added 162,000 jobs. That’s enough to lower the unemployment rate but below the average monthly gain of 192,000 this year.
Fewer cities are reporting unusually high unemployment rates. Forty-one cities reported a rate above 10 per cent last month, down from 67 a year earlier.