Outta' Work...Outta' Job....where can you move for "Recession Proof Cities?

[KoKo]

Do you think "Forbes Magazine" is "Outta" Touch with this report? IMHO it sounds like "Press Hype" by Libertarians who love to move all of us around like we are on a damned Chess Board! :puke:

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Real Estate
America's Recession-Proof Cities
Joshua Zumbrun 04.29.08, 8:20 PM ET

Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly--or even contract--in the first half of the year.

But some cities are doing just fine.

Take Oklahoma City, Okla. With falling unemployment, one of the country's strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis.
In Pictures: 10 Recession-Proof Cities

San Antonio is right behind. It also features solid employment figures and affordable home prices that continue to rise. Its industries are growing; it can't hurt that the new AT&T was formed when San Antonio-based SBC Communications swallowed the old AT&T Corp. and BellSouth.
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Ten Recession-Proof Improvements

The others holding steady or improving include Austin, Texas; Houston; Charlotte, N.C.; Dallas; San Jose, Calif.; Raleigh, N.C.; Salt Lake City; and Seattle.

Behind The Numbers
To find them, Forbes.com examined the country's 50 largest metros and looked at several key measures.

We examined unemployment data supplied by the U.S. Bureau of Labor Statistics for the year ending in February 2008 to see which areas are most adding or subtracting jobs. Next, we looked at the BLS data on job growth in non-farm payrolls, through February 2008, for construction, education and health services, financial activities, information, leisure and hospitality, manufacturing, natural resources and mining, professional and business services, trade, transportation and utilities, and the BLS's catch-all category, "other services."

We also took into account median home price data from the National Association of Realtors--from the fourth quarter of 2006 to the fourth quarter of 2007--to see which areas posted the largest annual gains. Our data don't account for the impact of declining sales in the first several months of this year.

Finally, our rankings were adjusted using data from a November 2007 report, "U.S. Metro Economies: The Mortgage Crisis," by the U.S. Conference of Mayors. It lists each city's estimated gross metropolitan product growth by projecting how rising foreclosures and falling home prices would affect overall levels of productivity in local economies.

Sunny Southern Skies
Texas cities fared best under these measures. San Antonio, Austin, Houston and Dallas-Fort Worth have benefited from historically lower home prices, which have been affordable to a large segment of the population. The availability of land--and, in some cases, little zoning--helped keep prices in these cities low. Instead of competing for homes, Texans could move to a new subdivision a little farther out.

What's more, all four boast falling unemployment rates, with Austin dropping from 3.8% to 3.6% and San Antonio from 4.3% to 4%.

Cities that are expected to see growth in non-farm payrolls include Raleigh, which is expected to see 7.4% growth in professional and business services and 6% growth in education and health. In Salt Lake City, where the median home price rose 2.5% and unemployment, at 3.1%, is below the 5.1% national average, growth in education and health services is expected to be 5.5%.

How are you planning on weathering the impending recession? Weigh in. Add your thoughts in the Reader Comments section below.

Some cities have seen increasing home prices but otherwise continue to struggle. Buffalo and Rochester, N.Y., have seen home price growth (from a low base) but still contend with high unemployment--around 6%--and slow-growing or shrinking industries.

And in the San Jose area, the median home sale price is over $830,000. That's 11% higher than it was in the fourth quarter of 2006, helping to land the area at No. 4 on our list. Problem is, that growth has since cooled, and it remains to be seen whether pricey homes coupled with a 5.3% unemployment rate will cause trouble for homeowners this year.

To be sure, even in the most resilient cities, the mortgage crisis has caused suffering. People everywhere got into bad mortgages. Similarly, even in the most battered cities, the majority of people are employed and making their mortgage payments. The extent of recession or resilience is very much in the eye of the beholder, and this list represents only one of many ways to take a snapshot of economies that are standing tall.

In his statements to Congress' Joint Economic Committee earlier this month, Federal Reserve Chairman Ben Bernanke predicted the economy would possibly move into recession in the first half of 2008 but begin to rebound in the second half.

If you're tired of waiting, these might be the best places to go.

http://www.forbes.com/2008/04/29/cities-recession-places-forbeslife-cx_jz_0429realestate_slide_2.html?thisSpeed=20000

http://www.forbes.com/2008/04/29/cities-recession-places-forbeslife-cx_jz_0429realestate_slide_2.html?thisSpeed=20000

[dsc]

1. I live in Raleigh and teach

and Forbes is full of crap. Wake County schools (Raleigh) are not renewing terminating contracts and is set to lay off teachers.

[BlooInBloo]

2. Doh. Named in the same sentence as TX.

[babylonsister]

3. It's almost a year old. nt

[w4rma]

5. Yup. Which proves that Forbes is very much full of BS. (nt)

[KoKo]

7. 2009: CEOs Select Best, Worst States for Job Growth and Business

Issue Date: January/February 2009, Posted On: 3/17/2009

CEOs Select Best, Worst States for Job Growth and Business

Texas, North Carolina, Florida Top List as Best States; California, New York, Michigan Are the Worst

As the nation’s unemployment figures continue to reach new heights, Chief Executive magazine's 2009 "Best & Worst States" survey took CEO's pulse on what the best and worst places for jobs and business growth are. For the fourth year in a row, CEOs rated Texas as the #1 state to do business and California as the worst.

Chief Executive's fifth annual survey asked 543 CEOs to evaluate their states on a broad range of issues, including proximity to resources, regulation, tax policies, education, quality of living and infrastructure. Providing additional insight to the evaluations, CEOs were also asked to grade each state based on the following criteria: 1) Taxation & Regulation, 2) Workforce Quality, and 3) Living Environment.

"Our survey, year-over-year proves that those states with the worst records continue to practice the same policies that alienate businesses," said JP Donlon, Editor-in-Chief of Chief Executive magazine. "As the nation’s economic problems continue to snowball and an increasing number of states experience budgetary problems, state governments ought to take a hard look at their taxation and unionization policies if they want to turn the page and attract new businesses and capital to their provinces."

Once again, this year, the same states that took the bottom five spots over the past few years preserved their rankings for the most part. For the fourth year in a row, California and New York were ranked the worst and second worst state to do business in, respectively. Michigan was ranked third from the bottom for the second year in a row. The only difference in the bottom five was a flip in the worst fourth and fifth states, as New Jersey took over Massachusetts as the fourth worst state.

Plaguing business growth and opportunities in these states are high business taxes exposed on business owners as well as a strongly unionized labor force. Coincidentally, all the bottom three states, California, New York and Michigan, also support some of the nation’s highest unemployment rates - 10.1 percent, 7.6 percent and 11.6 percent, respectively, as of January (most recent data available). This compares to a national average of 7.6 percent in the same month (national unemployment rate reached 8.1 percent in February).

Expressing the prevalent attitude among CEOs, one CEO said, "Michigan and California literally need to do a 180 if they are ever to become competitive again. California has huge advantages with its size, quality of work force, particularly in high tech, as well as the quality of life and climate advantages of the state. However, it is an absolute regulatory and tax disaster, as is Michigan."

As states put on an intense competition to attract business and investment in this tough economic environment, Chief Executive magazine's Best & Worst States survey experienced a flurry of activity in the top ranks with the entry of three new states into the top five: Florida, Georgia and Tennessee.

Texas maintained its #1 spot in the ranking for the fourth year in a row, as North Carolina, Florida, Georgia and Tennessee all jumped up in ranks, taking the #2, 3, 4 and 5 spots, respectively.

"Texas and the Carolinas are great for business," said one CEO. "South Carolina's Research Authority is exemplary in terms of creating new economic growth and Texas is strategically centered, has low taxes, and outstanding demographics."

As a testament to this statement, in contrast to much of the nation, in fiscal 2008, Texas' gross state product grew by 4.2 percent, compared to 1.9 percent for the national economy.


http://www.chiefexecutive.net/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=D8BB1C4F12AE46EF9B7647E09E3253A6&AudID=F242408EE36A4B18AABCEB1289960A07

[KoKo]

8. January 6, 2009:State Individual Income Tax Rates, 2000-2009

January 6, 2009
State Individual Income Tax Rates, 2000-2009

To view rates for 2000 to 2008, open the Excel spreadsheet at the bottom of the page.

For a list of local income tax rates (not included in this chart), click here.

Note: To zoom in, print, select text or search the following document, please use the grey toolbar below.
State Individual Income Tax Rates, 2009

http://74.125.47.132/search?q=cache:x4wXiWckbi4J:www.taxfoundation.or

[sreid01]

4. Raleigh, NC

I have family in North Carolina, I am considering trying to locate a job in Raleigh. This is sad but there is nothing where I am now. This is sad!

http://findajobfaster.blogspot.com/2009/03/finding-available-computer-technician.html">Computer Technician Jobs

[KoKo]

6. Despite all the bad news..Raleigh, NC is more opportunity than Cleveland, Ohio..

and we need Good Folks of Dem Stock down here...