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US Cities with Lowest Jobless Rates

US Cities with Lowest Jobless Rates - The Great Recession has had a greater impact on the Raleigh-Cary labor market than on Durham's, at least when it comes to unemployment rates, according to a new study released Wednesday by Business First of Buffalo, a sister paper of Triangle Business Journal.

An examination of October jobless rates each year from October 2000 through October 2010 finds that the Raleigh-Cary market had a slightly stronger labor market than did Durham until the Great Recession started in December 2007. In the three Octobers since then, the Durham area, which includes Chapel Hill, has taken Raleigh-Cary's place as the North Carolina metro with the lowest unemployment.

US Cities with Lowest Jobless Rates

Both MSAs posted their lowest jobless numbers in October 2000, when Raleigh-Cary's rate was 2.5 percent and Durham's was 2.9 percent. Raleigh-Cary maintained the lower rate through October 2007, when its 3.5 percent slightly bested Durham's 3.7 percent.

A year later, Raleigh-Cary's unemployment had jumped to 5.3 percent, while Durham's had risen to just 5 percent. Both markets peaked last year – 8.8 percent in Raleigh-Cary and 7.8 percent in Durham.

Read more: Unemployment rate hits 10-year peak in 112 U.S. markets | Triangle Business Journal

US Cities with Lowest Jobless Rates


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