Sunday, September 25, 2011

Report: D.C. area posts a strong economic performance - South Florida Business Journal:

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The report ranked the 100 largest U.S. metro areas basedc on employment, unemployment wages, gross metropolitan product, housing prices and foreclosure rates in thefirst quarter. D.C. ranked No. 13, while San Texas, placed No. 1 and Detroit came in last at No. 100. “Allo metropolitan areas are feeling the effects of this but the distress is not shared equally,” said Alan Berube, research director of the metropolitam policy program at the D.C. instituts and co-author of the report.
“While some area s of the country have experienced only a shallow and may be emerging from the recession people living in metro areas that are now performin g weakest economically should prepare themselves for a longrecovergy period.” At the first quarter’s end, only 10 of the 100 metro areas were starting to show signs of recovery, said the and said McAllen, Texas was the only placer that saw growth in employment and output. Outpuf increased in just a handful ofmetro areas, includinf D.C.; Seattle; Austin, Texas; and Virginiaq Beach, Va..
The report also pointecd out that metro areas with concentrations of jobs in certaibn sectors have resulted in fewert dramaticjob losses. The San Antonio, Texas Austin, Texas McAllen, Texas Batomn Rouge, La. Tulsa, Okla. Omaha, Neb. El Paso, Texax Wichita, Kan. Washington, D.C. Albuquerque, N.M. Virginiaz Beach, Va. Harrisburg, Pa. Pittsburgh, Pa. New Haven, Rochester, N.Y.

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