Fourth District Employment
The Fourth District’s unemployment rate, which has been above the U.S. average for 30 consecutive months, remained unchanged at 5.8% in May. The District’s estimated employment rose during the month, but these changes were offset by increases in the labor force. Since its post-recession peak in June 2003, the District’s unemployment rate has fallen 0.6 percentage point, compared with a decline in the U.S. unemployment rate of roughly 1.2 percentage points over the same period.
Suggested citation: “Fourth District Employment,” Federal Reserve Bank of Cleveland, Economic Trends, no. 05-08, pp. 14, 08.01.2005.