Fourth District Conditions
The Fourth District’s unemployment rate—compiled from county unemployment rates that are released a month after the states’—fell sharply in September, declining 0.3 percentage point to 5.9%. Beginning in early summer, the District’s unemployment rate had risen steadily, diverging sharply from the nation’s; by August, it had returned to its expansion high of 6.2%. But the September reading showed the difference between the District and U.S. unemployment rates had narrowed to a half percentage point. Is this likely to continue?
Suggested citation: "Fourth District Conditions," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-12, pp. 14, 12.01.2004.