Sunday, June 07, 2009

Update: Great Recession Geography

Related to my last post about the three Rust Belts, a tale of two economic recovery geographies:

Job losses will likely continue to moderate, although most economists expect the unemployment rate will peak above 10 percent sometime later in the year. Employment will probably not bounce back in all sectors—or all states—evenly. According to IHS Global Insight, states such as Texas, Oklahoma, and Utah will be the quickest to recover, while Rust Belt states of Michigan, Ohio, and Indiana may take years to bounce back.

I've also read that Colorado should be among the first to bounce back, forming a contiguous core of rapid recovery. A lot of the bad news does seem be coming out of Michigan and Ohio. I'm a bit surprised to see Indiana lumped in with those two states. Regardless, economic disparity within the Rust Belt will continue to be exacerbated.

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