Recovery to prerecession levels
By Venessa Wong and Joel Stonington
On June 22, Federal Reserve Board Chairman Ben Bernanke said U.S. economic growth is "continuing at a moderate pace, though somewhat more slowly" than previously anticipated, according to Bloomberg.
Of course, not all cities are created equal, according to data and analysis from the Brookings Institution's quarterly review of economic indicators of metropolitan areas across the country.
Anchored by large research institutions, military bases, and other stable employers, some metro areas, from Boston to Columbus to El Paso, have shown more resilience to the downturn than others. There is no suggestion that any area has been exempt from the social ills that resulted from the downturn. Unemployment remains in double digits around much of the country, with the Fresno (Calif.) area showing more than 18 percent unemployment in March. The top areas in this survey are down around 5 percent or 6 percent, with Honolulu showing the lowest unemployment.
The economic picture, even within states, can vary drastically. The major indicators—employment, gross metro product, and housing prices—show that some cities have fared better during two years of expansion by the world's largest economy.
Of course, not all cities are created equal, according to data and analysis from the Brookings Institution's quarterly review of economic indicators of metropolitan areas across the country.
Anchored by large research institutions, military bases, and other stable employers, some metro areas, from Boston to Columbus to El Paso, have shown more resilience to the downturn than others. There is no suggestion that any area has been exempt from the social ills that resulted from the downturn. Unemployment remains in double digits around much of the country, with the Fresno (Calif.) area showing more than 18 percent unemployment in March. The top areas in this survey are down around 5 percent or 6 percent, with Honolulu showing the lowest unemployment.
The economic picture, even within states, can vary drastically. The major indicators—employment, gross metro product, and housing prices—show that some cities have fared better during two years of expansion by the world's largest economy.
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