The 11 Worst-Performing Cities in America

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1

Can you guess where Albany ranks?

Upstate NY in general isn’t doing too hot.

http://finance.yahoo.com/news/the-11-worst-performing-cities-in-america.html

While the U.S. recovery creeps forward, some cities are getting left behind.

We identified the weakest economic recoveries based on the latest MetroMonitor from the Brookings Institute, which looks at employment, unemployment, production, and home prices. They’re located in places like upstate New York, where the initial housing crash was less dramatic, but the slowdown more prolonged.

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#1 Little Rock, Arkansas

– Unemployment rate down 0.7 percentage points since 2011Q3
– Employment up 0.7% since 2010Q1
– Gross metro product up 2.9% since 2010Q1
– Home prices at a new low in 2012Q1

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#2 Harrisburg, Pennsylvania

– Unemployment rate down 0.9 percentage points since 2010Q1
– Employment down 1.2% since 2010Q1
– Gross metro product up 1.5% since 2009Q3
– Home prices at a new low in 2012Q1

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#3 Virginia Beach, Virginia

– Unemployment down 1.1 percentage points since 2010Q1
– Employment up 1.5% since 2010Q1
– Gross metro product up 1.0% since 2012Q1
– Home prices at a new low in 2012Q1

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#4 Albany, New York

– Unemployment hit a new high in 2012Q2
– Employment up 1.7% since 2011Q1
– Gross metro product up 5.0% since 2009Q3
– Home prices at a new low in 2012Q1

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#5 Buffalo, New York

– Unemployment hit a new high in 2012Q2
– Employment up 1.8% since 2009Q4
– Gross metro product up 5.1% since 2009Q2
– Home prices at a new low in 2012Q

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#6 Philadelphia, Pennsylvania

– Unemployment rate down 0.7 percentage points since 2010Q1
– Employment up 1.4% since 2010Q1
– Gross metro product up 3.4% since 2009Q3
– Home prices at a new low in 2012Q1

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#7 Honolulu, Hawaii

– Unemployment rate down 0.2 percentage points since 2009Q4
– Employment up 2.5% since 2009Q4
– Gross metro product up 3.6% since 2009Q3
– Home prices at a new low in 2012Q1

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#8 Jackson, Mississippi

– Unemployment rate is down 1.3 percentage points since 2010Q1
– Employment up 1.8% since 2010Q1
– Gross metro product up 1.0% since 2009Q3
– Home prices at a new low in 2012Q1

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#9 Syracuse, New York

– Unemployment hit a new high in 2012Q2
– Employment up 1.8% since 2010Q1
– Gross metro product up 6.5% since 2009Q2
– Home prices at a new low in 2012Q1

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#10 Poughkeepsie, New York

– Unemployment hit a new high in 2012Q2
– Employment up 2.2% since 2009Q3
– Gross metro product up 6.1% since 2009Q2
– Home prices at a new low in 2012Q1

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#11 Albuquerque, New Mexico

– Unemployment down 1.4 percentage points since 2010Q3
– Employment at a new low in 2012Q2
– Gross metro product up 5.0% since 2008Q2
– Home prices at a new low in 2012Q1

2

Add that to your presidential campaign Mr. Cuomonism

3

Really surprised there’s no California cities in that list as the mass exodus in that state seems to be well underway.

4

Albany never took that big of a hit to start off with especially in the housing market compared to other locations. Don’t know how much I believe this article…

5

Wow ny sure is leading the way

6

This.

It’s a light analysis of simple numbers. This area is booming from my perspective.

7

Also with the now just started expansion of the R&D center at the already humungous Global Foundaries I can’t see how Albany being so close would be not benefiting from the money coming to the area.

8

because people working at GF dont live in the hood. They make good money and dont live off government assistance.

9

We’re talking about all of Albany here not just Arbor Hill. I find it hard to believe that this area could be doing as bad as that article makes it seem. There was even rumors of apple scouting this area as the location for a manufacturing facility on American soil. Highly doubt they would be considering a location with the fourth worst economy in the nation.

10

State incentives to pull in business aren’t an indicator of how good our economy is.

11

Your right there not but the money that comes with these new business directly affects out economy. I know there’s a couple mil in electrical work just from this new R&D center up there. That’s only the electrical work not any of the other trades up there. All of this money being spent has to be affecting our local economy in some way.

12

Malta isn’t albany.

13

This.

We were not affected by the Real Estate explosion other people were in 05-07.

14

Yeah not everyone who works there lives in Malta though. Also all of the contractors doing the work that those billions of dollars are paying to have done don’t come out of Malta. Actually I don’t think there’s a single contractor there that’s from up that way. All of the money coming out of that place is affecting the surrounding areas whether you wanna believe it or not.

15

Upstate NY fucking rules man! :rofl

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It may not be 100 percent accurate but I would not be surprised if these stats were true. But who knows.

18

damn i knew it was bad. also they lie about unemployment. some people are not considered unemployed even tho they have no job. wtf is that? i bet albany should be #3 or higher not #4

19

Unemployment and being unemployed are different. So is being unemployed and working under the table. None of this shit is reliable.

20

The fact that you can be on unemployment for 2 fucking years is unbelieveable.