Friday, June 19, 2009

Read the Dots

"Beneath the constant drumbeat of numbers emanating from Washington on the precarious state of the U.S. economy lies a complex, diverse set of 366 metropolitan economies—combinations of cities and suburbs that form distinct labor markets, housing markets, and centers of commerce"

MetroMonitor, "Tracking the Recession and Recovery in America's Top 100 Metropolitan Areas," Metropolitan Policy Program, The Brookings Institution, June 19,2009.

What world do you live in? Not surprisingly, not all metro areas are doing the same by a long shot. The orange dots, the most metro losses, cluster in California, the metro areas surrounding Detroit, and in Florida. The blue dots cluster in the plains states, the northeast and mid atlantic.

Manufacturing, auto, trade, and foreclosures are no doubt part of the not-doing-so-well story. The better-off metro areas probably have more diverse economies, fewer foreclosures. Reliance upon tourism probably fits in somewhere.

One oddity for me is that New Orleans is at the bottom of the list and Baton Rouge is at the top of this list. What's the connection?

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