Last week, the Bureau of Labor Statistics published the latest annual Local Area Unemployment Statistics (LAUS) for 2022. Subsequently, IIUSA updated its EB-5 TEA Mapping Tool to reflect these changes. According to the new data, the national unemployment rate decreased to 3.65% in 2022, indicating the benchmark for a census tract or contiguous census tracts to qualify as an EB-5 high unemployment area using the LAUS data has dropped to 5.48%. See below for the year-over-year trend of the national average unemployment rates based on LAUS data versus the ACS data from the U.S. Census Bureau:
In addition, we also found that unemployment rates have changed significantly among major counties across the country, thanks to the fact that the nation has made great progress in recovering from COVID-19. See below for the changes in unemployment rates (according to LAUS) in major counties:
IIUSA updated its EB-5 TEA Mapping Tool with the latest unemployment data of the 2022 annual LAUS unemployment rates.
The mapping tool is also updated based on the definitions of a high unemployment area and a rural has from the EB-5 Reform and Integrity Act of 2022.
Among many features, this updated tool lets you:
- Search any location in the U.S. to check TEA qualification;
- View whether any location qualifies as a single-tract high unemployment area, a multi-tract high unemployment area, or a rural area; and
- Retrieve the latest ACS and LAUS employment statistics for any census tract.
Support This Important EB-5 Industry Resource and Promote Your Business with an IIUSA Sponsorship
We thank everyone who has used the mapping tool for their support and the tremendous positive feedback. IIUSA will continue to improve the tool while keeping it FREE and accessible to everyone in the EB-5 community.
To help keep the IIUSA EB-5 TEA Mapping Tool free and updated, IIUSA is now offering sponsorship opportunities for the EB-5 TEA Mapping Tool. Sponsoring this important resource highlights your support and commitment to industry development and grants exposure to your business to hundreds of thousands of active users!
If you would like to sponsor this valuable industry resource, please email email@example.com or call us at 202-795-9669.