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DC metro area unemployment falls to new pandemic low

The D.C. metro region’s unemployment rate in March was 2.7% — down from 2.9% in February, and the lowest unemployment rate since before the pandemic began three years ago.

A year earlier, the D.C. metro’s unemployment rate was 3.1%.

The D.C. region also gained a net 79,167 jobs compared to March 2022.

The U.S. Labor Department’s Bureau of Labor Statistics reports unemployment rates were lower than a year ago in 208 of the 389 metropolitan areas, higher in 151 and unchanged in 30.

A total of 125 areas had jobless rates of less than 3% and 11 areas had rates of at least 8%.

Among cities with a population of one million or more, Birmingham, Alabama, had the lowest metropolitan unemployment rate in March, at 1.8%. That was followed by Miami at 2.2%. Las Vegas still has the highest big city unemployment rate, at 5.7% in March.

Among all metro areas, Decatur, Alabama; Huntsville, Alabama; and Rapid City, South Dakota; had the lowest at 1.6%. El Centro, California had the highest, at 15.6%.

All metropolitan unemployment rates are not seasonally adjusted.

BLS posts monthly metropolitan unemployment rates and changes to civilian labor forces 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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