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Old 12-21-2011, 03:46 PM
 
Location: Cleveland, OH
3,844 posts, read 8,042,614 times
Reputation: 1607

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Here are the unemployment numbers for the major metros. It's interesting to see many rust belt/great lakes cities weathering the storm, where it seems much the sun belt and California are getting hit the hardest. What the the reasons for this??

The national unemployment rate is currently at 8.6%.

Unemployment Rates for Large Metropolitan Areas

IMO the media often portrays sun belt cities as causing the recovery, yet look as their unemployment numbers paint a different picture:

October 2011 -- Sunbelt unemployment:
Atlanta(9.9%), Memphis (10.0 %), Charlotte(10.2%), and Las Vegas(13.3%)

The Rust Belt seems to be quietly chugging along (minus poor Detroit):

October 2011 -- Rust Belt/Great Lakes region unemployment numbers:
1) Minneapolis-St. Paul, MN -- 5.4%
5) Pittsburgh, PA -- 6.4%
6) Rochester, NY -- 6.7%
8) Buffalo, NY -- 7.0%
10) Cleveland, OH -- 7.1%

Finally, California has many of the roughest rates in the country:

October 2011 -- California
San Francisco -- 9.1%
San Jose -- 9.5%
San Diego -- 9.7%
Los Angeles -- 11.1%
Sacramento -- 11.4%
San Bernardino - Riverside -- 13.3%

How do we explain these numbers and regional differences?
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Old 12-21-2011, 03:53 PM
 
Location: Underneath the Pecan Tree
15,989 posts, read 30,724,774 times
Reputation: 7282
Quote:
Originally Posted by costello_musicman View Post
Here are the unemployment numbers for the major metros. It's interesting to see many rust belt/great lakes cities weathering the storm, where it seems much the sun belt and California are getting hit the hardest. What the the reasons for this??

The national unemployment rate is currently at 8.6%.

Unemployment Rates for Large Metropolitan Areas

IMO the media often portrays sun belt cities as causing the recovery, yet look as their unemployment numbers paint a different picture:

October 2011 -- Sunbelt unemployment:
Atlanta(9.9%), Memphis (10.0 %), Charlotte(10.2%), and Las Vegas(13.3%)

The Rust Belt seems to be quietly chugging along (minus poor Detroit):

October 2011 -- Rust Belt/Great Lakes region unemployment numbers:
1) Minneapolis-St. Paul, MN -- 5.4%
5) Pittsburgh, PA -- 6.4%
6) Rochester, NY -- 6.7%
8) Buffalo, NY -- 7.0%
10) Cleveland, OH -- 7.1%

Finally, California has many of the roughest rates in the country:

October 2011 -- California
San Francisco -- 9.1%
San Jose -- 9.5%
San Diego -- 9.7%
Los Angeles -- 11.1%
Sacramento -- 11.4%
San Bernardino - Riverside -- 13.3%

How do we explain these numbers and regional differences?
Because no one is really moving to the rustbelt.
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Old 12-21-2011, 04:06 PM
 
Location: Willowbend/Houston
13,403 posts, read 21,242,085 times
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Quote:
Originally Posted by blkgiraffe View Post
Because no one is really moving to the rustbelt.
Ding ding ding!
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Old 12-21-2011, 04:56 PM
 
29,968 posts, read 27,489,279 times
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Quote:
Originally Posted by costello_musicman View Post
IMO the media often portrays sun belt cities as causing the recovery
That's limited mostly to Texas.

The housing sector has yet to recover elsewhere in much of the Sunbelt.
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Old 12-21-2011, 06:00 PM
 
Location: East Coast of the United States
17,344 posts, read 19,615,226 times
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Quote:
Originally Posted by blkgiraffe View Post
Because no one is really moving to the rustbelt.
Based on these unemployment figures, I guess they should be huh?
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Old 12-21-2011, 07:13 PM
 
Location: roaming gnome
12,391 posts, read 24,606,389 times
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Quote:
Originally Posted by Mutiny77 View Post
That's limited mostly to Texas.

The housing sector has yet to recover elsewhere in much of the Sunbelt.
California, Florida, Arizona, and Nevada are all sunbelt cities that are not that great. The good economies in the last 5 years were NC and TX for the most part, though NC I do not consider sunbelt...but I'll give it to it... Otherwise the economies in those states were never that good.

And for the "rust belt" that isn't that good still either, In 2006 or so I believe I think unemployment in Chicago was around 3% !.

Basically there is still an exodus from the rust belt from the sunbelt going on, the problem is, the economy clogged up... and then you are left with all those people that recently bought houses yet didn't have or lost their job in their new location. A quick look at the booming population of CA, TX, FL would show you this.
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Old 12-21-2011, 07:25 PM
 
Location: Cleveland bound with MPLS in the rear-view
5,530 posts, read 10,156,684 times
Reputation: 2384
Quote:
Originally Posted by blkgiraffe View Post
Because no one is really moving to the rustbelt.
And that makes so much sense......move, and HOPE the jobs follow you, right? People should move for two or three reasons FIRST: jobs, family, affordability.
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Old 12-21-2011, 07:49 PM
 
Location: Houston, TX
1,140 posts, read 2,883,652 times
Reputation: 794
Quote:
Originally Posted by blkgiraffe View Post
Because no one is really moving to the rustbelt.
Pretty much.

North Dakota has the country's lowest unemployment rate. I think it's something like 3% and it has a very low crime rate and cost of living, but I sure as hell wouldn't move there. 6 months of cold weather and -30 degree wind chill greatly outweighs the aforementioned.
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Old 12-21-2011, 08:43 PM
 
Location: Underneath the Pecan Tree
15,989 posts, read 30,724,774 times
Reputation: 7282
Quote:
Originally Posted by BigCityDreamer View Post
Based on these unemployment figures, I guess they should be huh?
Quote:
Originally Posted by west336 View Post
And that makes so much sense......move, and HOPE the jobs follow you, right? People should move for two or three reasons FIRST: jobs, family, affordability.
Quote:
Originally Posted by mayorofnyc View Post
Pretty much.

North Dakota has the country's lowest unemployment rate. I think it's something like 3% and it has a very low crime rate and cost of living, but I sure as hell wouldn't move there. 6 months of cold weather and -30 degree wind chill greatly outweighs the aforementioned.
Growth within the rustbelt is stagnant; therefore more stabilized. Many Americans believing jobs and better lives can be found in the sunbelt; have flocked to this region and saturated the job market. Leaving many unemployed and broke.
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Old 12-21-2011, 08:46 PM
 
Location: On the road
2,669 posts, read 1,986,873 times
Reputation: 2911
All I know is that if I was homeless and unemployed, I would relocate to the warmer climes.
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