a persistent aberration?
I was wrong. The March numbers are out and not only did the local unemployment rate not correct itself by going up, it went down further, from 3.9% in February to 3.7% in March. A number which puts us even further below the US average of 4.4%. The last time it was lower was 3.1% in February 1970. There was one brief month in June 1991 when the local and US unemployment rates were 6.1% and 6.9% respectively and thus an equal 0.8% difference. Just another factoid of note. The seasonally adjusted unemployment count of 43,000 is also the lowest since February of 1970. What was the peak unemployment count in the 7 county region: 201 thousand in January of 1983.
So we will wait another month to see if this aberration corrects itself. Here is what the graph looks like of the time series of the difference in unemployment rates locally vs. those in the US:
maybe one last question to ponder. They have not even started construction of the casino unless I am mistaken. I bet Don Barden would have had that project geared up if not for legal and administrative roadblocks. What would the numbers look like if that had come online already. It's a big enough project that he wants to get done quickly that it could in itself be noticed in the numbers.