The Greater Cleveland unemployment rate for May came in at 7.7%. This is well below the national unemployment rate of 9.1%, and below the state average of 8.5%. Other major metropolitan areas have been hit much harder and are recovering much more slowly. Cities such as Miami – 11.4%, Las Vegas – 12.4%, Charlotte – 10.4%, Los Angeles – 11.1% and Detroit -11.6% are dealing with far higher unemployment rates. While Cleveland has no doubt suffered through the Great Recession, the Cleveland area economy isn’t nearly as bad as the general public perception of it.
There are good signs pointing forward as well. Monster.com recently rated Cleveland as the 5th best city in which to find a job and local employment agencies are hiring, in anticipation of even more demand from employers. And if you’re in the movie production industry, business is very good in Cleveland right now.
Source: Bureau of Labor Statistics