Return to Peak Employment for Metro Areas
U.S. Conference of Mayors
February 29, 2012
The information provided here is for informational and educational purposes and does not necessarily reflect the opinion and/or policy position of the Georgia Municipal Association.
The recovery is very uneven across US regions, with the southeastern and southwestern metros, who were most affected by the housing bubble, looking ahead to years of recovery.
A new report by IHS Global Insight for the U.S. Conference of Mayors notes the mixed bag for the nation's 363 metropolitan statistical areas when it comes to a return to peak employment.
- Total nonfarm payrolls contracted by 6.2% and shed over 8.6 million jobs between 2007-2009.
- In 2011, the US added more than 1.6 million jobs to its payrolls, growing 1.3% over 2010.
- By the end of 2012, US total nonfarm payrolls will have grown by another 1.3%, and the nation will have regained 48% of the jobs lost in the recession.
- At this time only 26 metro areas have completely recovered jobs lost in the recession.
- By the end of 2012, another 26 will have completely recovered jobs lost in the recession, and an additional 99 will have recouped over one-half of their losses.
- For almost 80 metros, full recovery is over five years away.
- Less than 30% of lost jobs have been recovered by the end of 2011.
||The U.S. Conference of Mayors (USCM) is the official nonpartisan organization of cities with populations of 30,000 or more.|