Correct, as similarly noted here, a PERWT value of 101 for a given METAREA, IND1950 and OCC1950 variable, can be correctly interpreted as 101 individuals (plus/minus a margin of error) residing in that METAREA in a particular industry/occupation.
Just be aware of some of the comparability issues of METAREA including changes in a metro area’s delineation and restrictions that affect the representativeness of METAREA to varying degrees across samples and even among metro areas within samples. You should consult this page for more information about incompletely identified metropolitan areas, as population estimates can be affected.