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Atlantic City-Hammonton, New Jersey, had the largest jobless rate decrease over the year ended January 2023 (−2.6 percentage points). It was followed by Rockford, Illinois, which had a decrease of 2.5 percentage points, and Farmington, New Mexico, which had a decrease of 2.0 percentage points. In total, 59 metropolitan areas had unemployment rate decreases of 1.0 percentage point or more.read full article »
In January, nonfarm payroll employment increased over the year in 135 metropolitan areas and was essentially unchanged in 254 areas. The largest over-the-year percentage gains in employment occurred in Midland, Texas (+11.4 percent), Odessa, Texas (+7.8 percent), and Napa, California (+6.9 percent). Eight other metropolitan areas had significant over-the-year percentage increases in employment of at least 6.0 percent.
Total employer compensation costs for civilian workers averaged $42.48 per hour worked in December 2022. Wages and salaries cost employers $29.32 and accounted for 69.0 percent of total costs, while benefits cost $13.17 and accounted for the remaining 31.0 percent.
U.S. export prices decreased 0.8 percent from February 2022 to February 2023. This was the first 12-month decrease in U.S. export prices since the decrease of 1.0 percent from November 2019 to November 2020. From February 2022 to February 2023, prices for agricultural exports increased 3.3 percent.
U.S. import prices declined 1.1 percent from February 2022 to February 2023, the first 12-month decrease since the index fell 0.3 percent in December 2020 and the largest over-the-year drop since a 1.3-percent decline in September 2020. Prices for imports from China declined 0.4 percent over the past 12 months, the largest over-the-year decrease since July 2020.