Metro Job Market Falls in some 223 Areas
A new study showed that metro job market fell in some 223 metro areas in the US as Americans who were discouraged by the recent massive job cuts being implemented by companies have stopped looking for another job.
An industry research firm said that this contributed to the low jobless turnout in September, adding that they could no longer be considered in the survey for jobless.
The IHS Global Insight on Friday said that the unemployment rate in most metro areas in the United States has dropped by around 59 percent, roughly 223 of the 380 metro areas covered by the study.
According to HIS regional economist Jim Diffley said that the job market situation has not improved since the finally stages of the recession, adding that more Americans gave up looking for new jobs than those who were successfully accepted by companies.
“We are currently looking at new jobless recovery since the job market has not budge at all,” Diffley said, adding that some 223 of the 380 metro areas in the US posted significant drop in unemployment in September.
“That’s 59 percent of major areas in the US that has not made any movements. Meanwhile, the jobless rates in some 123 metropolitan areas have increased also last month,” he added.
But Diffley said that most of the new cases of jobless people were mainly because of fear to leave the labor sector. Many of the people have also tried to look for better opportunities by enrolling back to schools to give them more edge over the competition.
Also, the economist said that once the person out of job stop looking for another work may no longer be counted as one of those who are unemployed.He said that the controlled rate in the drop of unemployed rate will continue for the next few months, adding that the government should look deeply into the economic situation.
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