flexiblefullpage - default
Currently Reading

A City-By-City Look At The Recovery

Advertisement
billboard - default

A City-By-City Look At The Recovery

Cities are recovering from the Great Recession at different rates, and some are undoubtedly doing better than others in terms of unemployment rate and employment growth


April 8, 2016

The United States is a big and varied place and the best way to gauge how the country is doing as a whole is to break it down into its individual pieces, with the individual pieces being its biggest cities.

That is exactly what The New York Times has done in measuring the recovery in the labor force since the Great Recession. With a city-by-city breakdown, the report first takes a look at unemployment rates among the biggest cities (cities with a civilian labor force of one million or more people). For each city, three points are marked on the graph, the unemployment rates in January of 2000, December of 2009, and January of 2016. While the numbers and how greatly the unemployment has changed in each city differs greatly, they all follow the same pattern; low unemployment in 2000 followed by a sharp spike, which is subsequently followed by a sharp decline. The graph ends up looking like a coniferous forest line, each peak at a different level, but generally uniform in height.

Some of the more notable unemployment shifts came in the cities of Detroit, San Antonio, Austin, and Denver. Detroit had one of the lowest unemployment rates in 2000, but by 2009 had the highest unemployment rate at 15.4 percent. A large decline that occurred between December 2009 and January 2016 stabilized things a bit, but the 5.9 percent unemployment rate is still not back to pre recession levels. In fact, San Antonio and Austin are the only major cities to have had a lower unemployment rate in January 2016 than they did in January 2000. Meanwhile, Denver had the lowest overall unemployment rate for big cities in January 2016 at 2.7 percent.

The report also analyzed growth in employment since the recession among these same cities. While Denver has the lowest unemployment rate, it is in the middle of the pack in terms of employment growth, expanding by 15 percent since the end of 2009. San Jose and Austin lead the pack, as each city’s employment has grown by over 25 percent. Cleveland, Cincinnati, and Pittsburgh are the bottom three in terms of growth and are the only three cities on the list that did not see growth of at least five percent.

To see how each city’s numbers broke down and to view accompanying graphs, click the link below.

Read more

Advertisement
leaderboard2 - default

Tags

Related Stories

Construction

Proven Ways to Improve Jobsite Productivity

Consider these solutions for reducing cycle time, hard costs, dry runs, rework, miscommunication, and overall inefficiencies on the jobsite

Affordability

What Are Our Affordable Housing Options? Really

There are a range of ideas out there for addressing the housing affordability crisis. And while offering more housing choices is great, which of those are truly solutions to affordability?

Business Management

Happiness and 'The Bear'

Can happiness be the core strategy of a home building business? It can ... and it probably should be

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year

Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.