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Majority of American Cities Are Still Recuperating Post Recession

In a statement released by Brooking Institution, 60% of American cities are still struggling to go back to their pre-recession level. It is unfortunate that not all American cities are doing well after the recession.

Some cities like Houston, Raleigh and Austin that focus on energy as well as technology are doing well. These three cities each have an unemployment rate of 4.3%; which is lower than the national average of 5.6%. Their economic health is thriving; they even outranked Beijing, Shanghai and Mumbai last year.

On the other hand, cities near the Great Lakes are still struggling to find their way back to pre-recession levels. Denver Property Management and Houses observed that cities such as Ohio, Cleveland and Dayton are still struggling. These three cities rely on manufacturing jobs and experienced harsh employment and population drops. As a result, their housing market also suffered.

The U.S. Conference of Mayors recently released a statement that says that the 363 cities will see an increase in job growth for 2015. This growth has the potential to be the best comeback year yet. Out of the 363 cities, 317 of them will be able to experience a job growth of 1% at the very least.

Source: realtormag.realtor.org