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How are Cities Experiencing the Recession?

Posted by: Michael Dudley

17 June 2009 - 2:00pm

A new Brookings Institution study shows that American cities are experiencing the recession at "radically varying levels."

The Brookings Institution conducted a survey of the nation's 100 largest metropolitan areas and ranked them according to six "key indicators" -- employment, unemployment rates, wages, gross metropolitan product, housing prices, and foreclosure rates.

Detroit, with its 14 percent unemployment rate, was ranked last. Other cities, such as San Antonio Texas are weathering the recession fairly well. So much so, that one of the study' authors, Alan Berube, notes:

"This is not one national recession. It's felt barely at all in some parts of the country, and it's felt deeply and significantly in others...For the next several months we'll have to pay attention to several places that look like they're not poised to recover anytime soon."

The Brookings Institution's "MetroMonitor" website data will be updated quarterly.

Full Story: Recession Hurting U.S. Cities At "Radically Varying Levels"
Source: Huffington Post, June 17, 2009
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