CLICK HERE. / " title="THE PROVIDENCE metropolitan area's jobless rate declined in April to 10.7 percent. For a larger version of this map, CLICK HERE. /"/>BOSTON – The unemployment rate in the Providence-Fall River-Warwick metropolitan area declined in April to 10.9 percent of the labor force from 11.8 percent in the same month a year earlier.
According to nonseasonally adjusted data released on Thursday by the U.S. Bureau of Labor Statistics, the number of unemployed workers in the area dropped to 77,000 last month from 83,900 a year earlier.
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The Providence metropolitan area’s jobless rate declined by one full percentage point in April when compared to March.
Providence, at 10.9 percent, was slightly higher than Rhode Island’s rate, at 10.8 percent, and the national unemployment rate, at 8.7 percent, in April.
For Massachusetts’ New Bedford metropolitan area, the unemployment rate declined to 10.7 percent in April, down from 11.8 percent a year earlier and 12.6 percent a month earlier.
Nationwide, unemployment rates were lower in April in 297 of the 372 metropolitan areas when compared with a year earlier. It was higher in 54 areas and unchanged in 21 areas.
Twelve areas recorded jobless rates of at least 15 percent, 11 of which were in California, while 16 areas registered rates of less than 5 percent, the BLS said. The number of areas with jobless rates of at least 10 percent in April dropped by 127 from a year earlier.
El Centro, Calif., continued to have the highest unemployment rate in April, at 27.9 percent, followed by Yuma, Ariz., at 25.3 percent, and Yuba City, Calif., at 20.2 percent.
Look at the U-6 number then add in those on welfare and SSDI which didn’t exist in the 30’s plus add in those whose benefits have run out plus those that have stopped looking and that number is MUCH higher.
Now take the fact that the housing market is crashing anew plus the Fed is still printing cash from thin air to buy US Treasuries which China has stopped buying and you have a recipe for a disaster in the making.