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DC metro unemployment back below 6%

The Washington metro area’s unemployment in November fell below 6% for the first time since the coronavirus pandemic began.

The Department of Labor’s Bureau of Labor Statistics reports the D.C. metro’s non-seasonally-adjusted unemployment rate in November was 5.8%, down from 6.6% in October. That is still sharply higher than a year ago when the Washington region’s November 2019 unemployment rate was 2.8%.

The Baltimore metro’s unemployment rate in November fell to 6.1%, from 7.1% in October. Baltimore’s unemployment rate in November 2019 was 3.2%.

Nationwide, unemployment rates were higher in November than a year ago in 386 of the 389 metropolitan statistical areas where the bureau collects data.

Among cities with a population of 1 million or more, Las Vegas had the highest unemployment rate in November, at 11.5%.

Birmingham, Alabama and Minneapolis had the lowest jobless rates among large areas, at 3.8% and 3.9% respectively.

Among all metro areas, El Centro, California, and Kahului, Hawaii, had the highest November unemployment rates, at 16.4% and 16%.

The Labor Department posts monthly unemployment claims by metropolitan areas online.

Oil prices slip and Asian shares are mostly lower as investors sell chipmaker stocks

HONG KONG (AP) — Oil prices fell Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two days. Crude prices remain volatile after the U.S. said early Thursday it had conducted a “heavy wave” of strikes against Iran, responding to an attack on a U.S. base. U.S. futures edged higher after losses on Wall Street. In South Korea, recent drops in its benchmark Kospi, a big beneficiary of the global boom in artificial intelligence, have been seen by some analysts as a reflection of broader doubts about massive investments by technology giants in expanding capacity for AI.
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