Rust Belt Redux
I thought to be fair I should update my rust belt divergence chart of unemployment rates in Pittsburgh, Cleveland and Detroit. See below. I will add in Charlotte gratuitously. Yes, to give credit where due, Cleveland has been coming in under our unemployment rate the last few months. Go Cleveburgh!
It is not quite a strict comparison of course. Pittsburgh looks to again be setting a new record in the size of the regional labor force.
But here is the graph. Lots of convergence. What I find surprising is that for 5 months earlier in the year Charlotte's unemployment rate was higher than Detroit's. Just a factoid to chomp on.