
13 Unlucky US Cities Still in a Recession
More than five years after the global financial crisis, the economy has completely improved, right? Not necessarily. The recovery has been uneven throughout the country, with some cities still living in a recession.
More than five years after the global financial crisis, the economy has completely improved, right? Not necessarily. The recovery has been uneven throughout the country, with some cities still living in a recession.
Idaho, New York and Louisiana all have two entries each and the West Coast isn’t represented at all on this list.
13. Idaho Falls, Idaho
Employment change in 2013: -1.8%
GMP change in 2013: -2%
Physicians might want to head to Idaho Falls regardless—the state is projected to have
Temple Park
12. Duluth, Minnesota
Employment change in 2013: 0.1%
GMP change in 2013: -2.1%
Physicians will enjoy working in Minnesota, even if Duluth is going through a recession. The state was one of only two to receive an A for making physician quality data available to consumers, but Minnesota is also doing great digitally. According to a new report, 94% of physicians are using
However, watch out: the state has one of the
Duluth skyline
11. Norwich-New London, Connecticut
Employment change in 2013: -0.9%
GMP change in 2013: -2.1%
Connecticut is one of those states that
Plus, it will cost you
10. Elmira, New York
Employment change in 2013: -1%
GMP change in 2013: -2.1%
Elmira has one of the
Downtown mall in Charlottesville. Photo by Bobak Ha’Eri.
9. Charlottesville, Virginia
Employment change in 2013: -1.9%
GMP change in 2013: -2.2%
The good news is that Charlottesville has one of the
8. Pocatello, Idaho
Employment change in 2013: -0.3%
GMP change in 2013: -2.2%
Again, Idaho might be a good place to go regardless of the recession in Pocatello because they need physicians and it’s a good state to retire in. Plus, AARP has listed Pocatello as
Historic downtown Pocatello.
7. Salisbury, Maryland
Employment change in 2013: -1.9%
GMP change in 2013: -2.2%
Maryland, like other states on the East Coast, has one of the largest medical payouts per capita, making it not-so-friendly to physicians, but it also has one of the
6. Binghamton, New York
Employment change in 2013: -0.4%
GMP change in 2013: -2.3%
New York state has a second entry on the list, this time with Binghamton. While the cost of living in Binghamton is below the national average, the median home sales price is up 1.5% year over year, according to Trulia, which isn’t a good combination with declining employment.
Downtown Binghamton
5. Steubenville-Weirton, Ohio-West Virginia
Employment change in 2013: -2.6%
GMP change in 2013: -2.6%
While Steubenville has just 28 new and resale homes on the market, 110 are in pre-foreclosure, auction or bank-owned states of the foreclosure process, according to Trulia. Weirton’s real estate market looks much better (the numbers are essentially flipped), but home prices are on the rise, while employment is down.
4. Yuma, Arizona
Employment change in 2013: -1.9%
GMP change in 2013: -3.2%
Yuma is facing the
Downtown Lafayette
3. Lafayette, Louisiana
Employment change in 2013: -2%
GMP change in 2013: -3.2%
The unemployment rate in Lafayette is around 4.2%, which is better than the nation’s average, but it’s creeping up, according to the numbers from the report. Plus Trulia reported that the number of new and resale homes on the market (341) is actually below the number in pre-foreclosure, auction or bank-owned states of the foreclosure. The median listing price for homes was $249,520.
2. Decatur, Illinois
Employment change in 2013: -4.2%
GMP change in 2013: -4.8%
Unemployment in Decatur is on a sharp rise and the unemployment rate is currently around 13%. According to Zillow, the median sale price in Decatur is currently $85,900, which is up from $66,000 this same time last year.
Red River Bridge connecting Shreveport and Bossier City. Photo by Nathan Pham.
1. Shreveport-Bossier City, Louisiana
Employment change in 2013: -1.3%
GMP change in 2013: -5.2%
Shreveport was actually named one of the
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