Tracking Economic Recession and Recovery in America’s 100 Largest Metropolitan Areas

Source: Brookings Institution, MetroMonitor, September 2009

From the summary:
This edition of the Monitor examines indicators through the second quarter of 2009 (ending in June) in the areas of employment, unemployment, output, home prices, and foreclosure rates for the nation’s 100 largest metropolitan areas. It finds that:
– Differences in economic performance among metropolitan areas remained stark.
– The South is overrepresented among both the 20 metro areas that suffered the most in the recession and the 20 that suffered least.
– Only a handful of metropolitan areas showed early signs of full recovery from the recession.
– Several metro areas showed signs of beginning to recover from the recession, and the rate of economic decline slowed in many more.
– Centers of auto and auto parts production continued to post sharp overall employment and output declines.
– Metro areas that specialize in banking had less severe job losses than the nation as a whole since the end of 2007.
– Signs that the housing market is stabilizing were apparent in many metro areas, though rising foreclosures continued to weaken some metropolitan markets.
– Pittsburgh, the site of the G-20 meetings on September 24 and 25, 2009, ranks among the U.S. metropolitan areas least affected by the recession.
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