*** This article is from 2011, for more recent news on the unemployment rate, go here ***
The greater Cleveland area has the 10th lowest unemployment rate of all U.S. metropolitan areas with over 1 million people. Cleveland added 2,400 jobs between September and October to vault into the top 10.
At 7.1%, Cleveland had the lowest unemployment rate of all Ohio cities.
While unemployment remains an issue locally and nationwide, Cleveland has been doing relatively well. With a thriving medical industry, many new construction jobs, casino jobs, technology jobs, steel jobs and work supporting the new shale drilling industry, Cleveland might very well have been in an economic boom if the national economy wasn’t such a drag.
How Cleveland Compares
At 7.1%, Cleveland is nearly 2 full points below the state average of 9.0%. Columbus (7.6%), Akron (8.1%),Cincinnati (8.6%) and Dayton (9.2%) all lag Cleveland.
Nationwide, Cleveland compares well to other major cities. Chicago(8.6%), Atlanta(9.9%), Charlotte(10.2%), Detroit (10.2%) and Las Vegas(13.3%) are all significantly higher.
Check out the full list of cities by unemployment rate here. This list updates automatically every month, so after December 2011, the data may be different then what is mentioned above.
Goodbye Old School
The old, negative views of Cleveland may be hard for some to shake, but they are outdated. While there are certainly many issues yet to be solved, the reality is we’re moving forward economically. We’re no longer the same city we were in the 70’s. Things are getting better here. Much better.
The exciting part is there is more to come. The new Horseshoe casino has only begun to hire. AmTrust Financial will be adding up to 800 jobs to the area in the next few years. Republic steel is adding 450 jobs in Lorain. And that’s just what makes the headlines. Many local employers are quietly adding to their payrolls.