Atlantic City-Hammonton, N.J. had the largest unemployment rate decrease for the month of October but is still well above the national average. Wall Street Journal staffer Harriet Torry takes a look at the rate for this struggling city, as well as 386 other metro areas.
For the month of October the rate was 7.7%, a 2.5% decrease from the 10.2% recorded in October 2014 but the recovery is ongoing:
“A lot of the damage in Atlantic City already occurred,” said Bruce Bergman, an economist at the U.S. Bureau of Labor Statistics for New York and New Jersey. The size of the city’s labor force has also declined, he said, although the data doesn’t detail whether shrinking manpower is due to demographic change or job seekers moving to other areas.
For more information on the unemployment rate in Atlantic City and other metropolitan areas, have a look at the Torry analysis.