Higher education and industries that support it are the reason these metropolitan areas are doing well. College towns across America tend to have lower unemployment rates than the population as a whole, Martin Kohli, Chief Regional Economist for the Bureau of Labor Statistics, explained in an interview. Universities often provide relatively stable jobs compared to employment in cyclical industries such as construction. The University of Iowa is located in Iowa City, Iowa State University is located in Ames, and the University of Nebraska is located in Lincoln —all three metro areas are on our list.
24/7 Wall St. identified the ten metropolitan areas with the lowest unemployment rates as of October, based on data from the Bureau of Labor Statistics. State and local median household income was obtained from the U.S. Census Bureau. Data on the biggest industries was also obtained from the BLS.
10. Logan, Utah-Idaho
- Oct. 2012 unemployment rate: 3.8% (tied for 9th)
- Total population:124,813
- Median household income: $46,356