Few Cities Have Regained Jobs They Lost, Report Finds

[alp227]

Less than a tenth of the nation’s metropolitan areas have regained the jobs they lost in the economic downturn, according to a report being released Wednesday by the nation’s mayors as they gather in Washington to express their exasperation that the federal government seems more intent on cutting aid to cities than on sending more.

Only 26 of the nation’s 363 metropolitan areas had recovered their lost jobs by the end of 2011, and only 26 more are projected to recover them by end of this year, according to the report, which was commissioned by the United States Conference of Mayors. It will take at least five years for the 80 hardest-hit areas to recover the jobs they lost, the report forecast.

Households in metropolitan areas experienced a 2.2 percent decline in median income from 2009 to 2010, it found, while those in rural areas did not see a statistically significant decline. And the report said that housing prices fell by 4 percent in 2011, sapping household wealth and further shrinking the property tax base that many cities rely on.

But the lingering economic crisis has failed to spur any meaningful recent action in Washington, mayors said in interviews.

full: http://www.nytimes.com/2012/01/18/us/few-cities-have-regained-lost-jobs-report-finds.html

[jberryhill]

1. On the other hand "riot police" is a projected growth area

[Kurmudgeon]

2. You don't turn around a GOP recession in a heartbeat, even Clinton needed some time to do it.

Just think if this country had not been so stupid as to put Boehner, Cantor, and the GOP boys in control in 2010.
It's so frustrating, every time the US takes a step forward, the right drags us 2 steps back.

[msongs]

3. our corporations get tax breaks and send jobs overseas. terrorists nt