Local unemployment rate drops to 7.3-percent
The US Labor Department reports the unemployment rate for the San Luis Obispo-Paso Robles area dropped from 8.6-percent in November 2011 to 7.3-percent in November 2012. The reduced unemployment rate represents a significant improvement for the local job market.
The Associated Press is reporting, “Unemployment rates fell below 7 percent in a majority of U.S. cities in November, evidence that steady job gains are benefiting most parts of the country. The Labor Department said Tuesday that rates fell in November from October in 215 of the 372 largest metro areas. Rates were unchanged in 33 and rose in 124. Rates dropped below 7 percent in 192 cities. That’s the first time since the recession ended that more than half of large cities had rates below that threshold.”
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