Urbanized U.S. Areas Hire More People: Forbes Daily

Unemployment is rising nationally — but the picture looks very different across U.S. cities, Danielle Chemtob reported for Forbes Daily.

The uneven labor market is weighing heavily on the Federal Reserve.

The national jobless rate inched up to 4.6% in July, but more than 60% of U.S. metro areas actually added jobs, according to Bureau of Labor Statistics data. Charlotte, North Carolina, recorded the fastest employment growth of any metro area with a population above 1 million.

Philadelphia and the New York City region also posted strong gains.

The uneven labor market is weighing heavily on the Federal Reserve. Fed Chair Jerome Powell signaled in his Jackson Hole address that interest rate cuts could be on the horizon if job softness persists.