- Though sluggish, employment grew 1.7% between 2011 and 2012, or by 2.235 million new jobs. Job creation helped drive down the national unemployment rate from 8.9% to 8.1%. But improving conditions bring job seekers back to the job market, creating headwinds for the unemployment rate to move lower.
- This is a positive and necessary step in the transition back to economic health. Regionally, markets hardest hit by the housing downturn and subsequent economic crisis are seeing some of the strongest gains, with all five of the top 5 improving markets (pictured above) located in Florida and Nevada.
- Some markets are still experiencing rising unemployment rates. However, these figures belie the underlying trend of positive job creation drawing more unemployed workers back to search for jobs.
- Additional information on local market trends is available in the 4th quarter Local Market Reports. (member log in required)
