In economics, Unemployment Rate = Number of Unemployed / Total Labor Force
By the term unemployment we mean the percentage of the entire labor force that is not employed but enthusiastically looking for employment and are eager to work. Here we will not consider the one, who are willing to remain unemployed because of not getting the job of own choice.
In March, the Labor department of U.S., record a fall of the unemployment rate in 303 of the country’s 372 major cities. The rate as recorded is up in 287 cities, reporting a total drop in the last month, and it is the best since September 2010. The rate has found increasing in 43 metropolises, while 26 reports unchanged condition.
From the news report of Washington it can be pointed out that the rate fell by 80 percent of the country’s largest cities. It is also adding that the current pickup in case of hiring is spreading.
The growth of the business added a total of 200,000 jobs approximation in March and February 2011.
Source – Unemployment falls in 80 pct. of large cities
Published Associated Press