OfflineThis is from an article on msnbc.com. It describes the cities that continue to feel the most pain from the 2007 - 09 recession. The whole article is here:
http://www.msnbc.msn.com/id/43551895/ns/business-local_business/
The cities are here if you don't want to read the whole article:
10.Canton-Massillon, Ohio
Change in employment 2001-2011: -10.1 percent
Population: 404,422
Unemployment: 9.3 percent
Poverty level: 12.3 percent
Median income: $44,799
9.Dayton, Ohio
Change in employment 2001-2011: -10.3 percent
Population: 841,502
Unemployment: 9 percent
Poverty level: 13.3 percent
Median income: $47,145
8.South Bend-Mishawaka, Indiana
Change in employment 2001-2011: -10.9 percent
Population: 319,224
Unemployment: 9.1 percent
Poverty level: 13.7 percent
Median income: $44,579
7.Youngstown-Warren-Boardman, Ohio-Pennsylvania
Change in employment 2001-2011: -11 percent
Population: 565,773
Unemployment: 9.1 percent
Poverty level: 15.5 percent
Median income: $40,734
6.Atlantic City-Hammonton, New Jersey
Change in employment 2001-2011: -11.5 percent
Population: 274,549 Unemployment: 12.5 percent
Poverty level: 10.6 percent
Median income: $54,934
5.Toledo, Ohio
Change in employment 2001-2011: -12.1 percent
Population: 651,429
Unemployment: 9.4 percent
Poverty level: 15.4 percent
Median income: $45,657
4.Hickory-Lenoir-Morganton, North Carolina
Change in employment 2001-2011: -13.6 percent
Population: 365,497
Unemployment: 11.7 percent
Poverty level: 14.4 percent
Median income: $40,181
3.Detroit-Warren-Livonia, Michigan
Change in employment 2001-2011: -15.8 percent
Population: 4,296,250
Unemployment: 11.1 percent
Poverty level: 14.2 percent
Median income: $52,954
2.Flint, Michigan
Change in employment 2001-2011: -15.8 percent
Population: 425,790
Unemployment: 10.8 percent
Poverty level: 17.3 percent
Median income: $44,376
1.Reno-Sparks, Nevada
Change in employment from peak: -16 percent
Population: 425,417
Unemployment: 11.7 percent
Poverty level: 11.7 percent
Median income: $55,578
Notice that most of them are located in the rust belt which also serves up a demographic reality.>>>Be careful buying houses in cities where the unemployment is higher than normal as it decreases the pool of available buyers.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
With the national debt WAY UP in the trillions, a decade is probably an understatement!!!Do you really think the TV, or newspapers, or our own government will tell us whats really going on?? With our national debt that high, what does that really mean for the $$$ we have, and its worth?? We are living with a FIAT money system, money thats backed by nothing (because of our high debt)..If you really want to find out the TRUTH of whats going on with our economy go to the sources that are reporting the TRUTH, go to the National Inflation Association, and mej.com and scroll down to (mejonomics..)
great article with good information...
thanks for sharing,
Valerie
Valerie
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I am not a conspiracy theorist for economics as I believe the folks in Washington aren't that smart. However, I do believe they have built their reporting models in such a way that the true information gets skewed. They are saying that inflation is not a problem because they measure it without including energy or food. (What do you think the two largest uses are of most people's paychecks after housing?) As an example, I used to be able to get a Whopper Jr. for 99 cents; now it is a $1.49. That looks like a 50% increase to me. But it doesn't get included in the official numbers.
I also agree with you about our useless position in the currency world. The squabbling in Washington about the debt ceiling, our extended deficit and our poor economic policies have devalued the dollar and it has hurt our citizens by artificially pumping up prices to compensate for the currency exchange. Remember, even the Arabs denominate oil in dollars.
But the real grand daddy of all problems is going to start when either 1) China stops rolling over their credit to us in US Dollar denominated debt; 2) US Citizens finally get a grip on what Social Security and Medicare are doing to our country; or 3) Pension obligations by some companies and most governmental agencies will never be able to be funded.
Always Looking to Acquire Houses | Always Looking to Amaze Investors