📊 Labor Market Update: Rising Unemployment and Falling Wages Across U.S. Cities

🔸 90% of US cities experienced a rise in year-over-year unemployment rates in July, according to the BLS.

🔸 Jobless rates increased in 350 out of 389 metropolitan areas last month.

🔸 In 8 large metro areas with populations over 1 million, fewer people were employed in July 2024 compared to July 2019.

🔸 Average weekly wages dropped in 43% of the 389 metropolitan areas.

🔸 In 5 of the 8 highest-paying areas, where weekly wages are above $1,400, salaries declined year-over-year.

🔸 The labor market is showing signs of weakening.