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Are airlines doing well? Is oil doing well? Is GM Financial doing well? Are they even independent of GM? GE Capital? Commercial retail? This list doesn't inspire so much as highlight potential warning signs.
I agree. Diversity is better in the end. But during recessions, the few industries that boom make it more resistant. Which is why Austin, Raleigh, etc won’t be as hard hit.
But industries that are recession proof ebb and flow. They are never the same.
In 2008-2010, Houston was the city soaring when the rest of the nation crumbled. Now its tech based economies that are doing really well. Next recession, it will probably be something else.
In the end, diversity is the only way to make sure your city doesnt fall too far when your number comes up.
But industries that are recession proof ebb and flow. They are never the same.
In 2008-2010, Houston was the city soaring when the rest of the nation crumbled. Now its tech based economies that are doing really well. Next recession, it will probably be something else.
In the end, diversity is the only way to make sure your city doesnt fall too far when your number comes up.
I wouldn't call Dallas recession-resistant with all the stories I keep hearing on how people are struggling to find work, even unskilled labor. Not to long ago the line for the food bank nearby was out of control with cars stretching for miles.
Indianapolis and Columbus should be contenders. The amount of people hiring in those cities should be a tell.
I wouldn't call Dallas recession-resistant with all the stories I keep hearing on how people are struggling to find work, even unskilled labor. Not to long ago the line for the food bank nearby was out of control with cars stretching for miles.
Indianapolis and Columbus should be contenders. The amount of people hiring in those cities should be a tell.
What is the unemployment rate in Dallas vs. Columbus and Indianapolis?
That 4.9% number for Columbus looks great, but it's not showing the whole story. It was 9.9%, 8.3%, 8.3% and 7.4% in the months before. Dallas was outperforming Columbus every month before Oct.
Salt Lake City been impressing with low unemployment all recession long. While I knew they’d be one of the least hit, I didn’t know they’d be aolidly first.
As for Vegas, I knew they would be the hardest hit.
Of course, Washington DC is the most insulated city in times of recession. Why isn't it listed? State capitals and smaller cities with large public universities or other public institutions will ride out recessions better than other places. State capitals in large cities (Boston, Denver, Atlanta, etc.) might get dragged down by other factors.
Of course, Washington DC is the most insulated city in times of recession. Why isn't it listed? State capitals and smaller cities with large public universities or other public institutions will ride out recessions better than other places. State capitals in large cities (Boston, Denver, Atlanta, etc.) might get dragged down by other factors.
DC is listed.
You're not the only person to make that mistake, FWIW.
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