Did you know? Nominated one of the safest cities in America; Hillview Kentucky, filed for Chapter 9 bankruptcy in late August, bringing the national total of municipal bankruptcies to 14 since 2008. Some would call this the beginning of an economic recession. A economic recession is basically a lowdown in economic activity mainly do to high unemployment and a decline in the housing marketplace. The personal finance website WalletHub conducted an in-depth analysis of 2015’s Most & Least Recession-Recovered Cities.
According to a recent press report I received, “WalletHub has measured the progress of local economies since the financial crisis and how much work still has to be done in the name of recovery.” You should know, WalletHub compared the 150 largest U.S. cities across 17 key economic indexes. Their data set spans from the inpouring of college-educated workers to the number of new businesses to home-price appreciation.
Most Recession-Recovered Cities
1 Lubbock, TX
2 Denver, CO
3 Corpus Christi, TX
4 Anchorage, AK
5 Houston, TX
6 Oklahoma City, OK
7 Minneapolis, MN
8 San Francisco, CA
9 Fayetteville, NC
10 El Paso, TX
I guess you can say the top ten most recession-recovered cities listed above house confidence consumers and are producing new products and services in the consumer marketplace.
Least Recession-Recovered Cities
141 Stockton, CA
142 Detroit, MI
143 Mesa, AZ
144 Tempe, AZ
145 Modesto, CA
146 Glendale, AZ
147 Henderson, NV
148 North Las Vegas, NV
149 Tucson, AZ
150 San Bernardino, CA
I guess you can generalize that the top ten least recession-recovered cities as listed above lack job growth and aren’t producing new products and services in the consumer marketplace.
“America isn’t breaking apart at the seams. The American dream isn’t dying. Our new racial and ethnic complexion hasn’t triggered massive outbreaks of intolerance. Our generations aren’t at each other’s throats. They’re living more interdependently than at any time in recent memory, because that turns out to be a good coping strategy in hard times. Our nation faces huge challenges, no doubt. So do the rest of the world’s aging economic powers. If you had to pick a nation with the right stuff to ride out the coming demographic storm, you’d be crazy not to choose America, warts and all.”
― Pew Research Center, The Next America: Boomers, Millennials, and the Looming Generational Showdown
Be sure to check out the following key statistics from the 2015’s Most & Least Recession-Recovered Cities report from WalletHub.com:
- Grand Rapids, Mich., experienced the largest decrease (2%) in its unemployment rate, whereas Fresno, Calif., experienced the largest increase (5%).
- Brownsville, Texas, experienced the largest decrease (6%) in its poverty rate, whereas Detroit experienced the largest increase (9%).
- New Orleans registered the highest home-price appreciation, at 84%, whereas Detroit registered the highest depreciation, at 61%.
- Raleigh, N.C., experienced the highest population growth rate, at 24%, whereas Detroit experienced the highest decline, at 17%.
- Orlando, Fla., experienced the largest decrease in its violent-crime rate, at 1%, whereas Springfield, Mo., experienced the largest increase, at 0.5%.
- Portland, Ore., experienced the largest increase in GDP, at 36%, whereas Reno, Nev., experienced the largest decrease, at 10%.
For the full report and to see where your city ranks, click here.