Unemployment bump
Add Axios as your preferred source to
see more of our stories on Google.
Huntsville's unemployment rate rose to a seasonally adjusted 2.7% in June even as the national rate edged lower, new federal data shows.
Why it matters: While nearly half of the metro areas tracked in the U.S. Bureau of Labor Statistics jobs report posted higher unemployment rates, Huntsville's relatively low figure suggests its labor market remains solid.
By the numbers: Huntsville's unemployment rate is more than a percentage point below the national average and is lower than 95% of the areas surveyed by the Bureau of Labor Statistics.
The big picture: The lowest rate was Rapid City, South Dakota, which ticked just below 2%
- The highest was Southern California's El Centro at just under 19%, while Visalia, California, also topped 10%.
Context: The Huntsville area has added 3,900 jobs since last June. The state added 21,100 jobs during the same period.
What we're watching: The Fed's policymaking committee appears to be more focused on inflation than the job market. They left their key interest rate unchanged on Wednesday, leaving interest rates on credit cards and car loans elevated.
The bottom line: A stable local employment picture can be welcome news, but it doesn't necessarily translate into relief for household budgets.