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Employment in the Fourth District

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The Fourth District’s unemployment rate fell a sizeable 0.4 percentage point to 5.8% in December. This decline seems to have been driven largely by a reduction in the estimated size of the labor force; estimated employment actually fell slightly during the month. Similarly, while the U.S. unemployment rate held steady at 5.4% in December, its 0.2 percentage point decline to 5.2% in January resulted more from a decrease in the labor force than an increase in employment.

Suggested citation: “Employment in the Fourth District,” Federal Reserve Bank of Cleveland, Economic Trends, no. 05-03, pp. 14, 03.01.2005.

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