Unemployment rate drops in 95 pct of U.S. cities

October 31, 2012 | Business | Written by

Washington, Oct 31: The unemployment rate has dropped in nearly 95 percent of cities in the United States in September as compared to August, according to a report.

According to the Labor Department, rates declined in 355 of the 372 metro areas, the most since April.

The report also showed that nearly half of cities now have unemployment rates below seven percent.

According to the data, the number of areas with unemployment rates above ten percent dropped to 35, down from 84 a year ago, CBS News reports.

Nationwide, the unemployment rate fell to 7.8 percent in September, the report said.

According to the report, this was the first time the rate has fallen below eight percent since January 2009, President Barack Obama’s first month in office. (ANI)