2012 Employment Forecast and the Impact of Exports

Source: United States Conference of Mayors, January 2012

From the press release:
Job growth for nearly all of the nation’s metro areas will increase this year but not fast enough to force the unemployment rate below 8 percent, according to a report produced by IHS Global Insight as part of the US Conference of Mayors’ US Metro Economy series.

The Report released today, forecasts job growth for all metro areas but mild to weak for many, and predicts that 22% of metro areas hardest hit by housing crisis will take five years to recover….

…The outlook for 2012 is better. By the end of this year, the report forecasts that almost every one of our 363 metro economies will see job gains and the nation will have gained back 48 percent of its lost jobs. But despite this progress, the recovery remains slow and uneven. For almost 80 of the nation’s metro areas, it will take more than five years to get back to pre-recession levels of employment.

The report offers a glimpse into what middle-class families are going through in this economy: median real income for US households in 2010 was $49,455 – 7.1% lower than in 1999, when it was $53,252.
See also:
Key findings

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