Which Local Economy is The Most Recession Resistant? (Boston)

[18Montclair]

Originally Posted by As Above So Below...

The economy bottomed out in 2009 and we rebounding quickly by 2010. I dont know that this data shows how these did in the Great Recession on its own. Besides, we had incredible economy prosperity from that point onward.

I think this shows more of how fast economies grew in good times.

It took much longer than that. Unemployment in Jan 2008 was 5.0%---it didnt get back down to 8.0% until Aug 2012 and didnt get back to 5.0% until Sep 2015.

GDP is the sum of all economic activity.

[TBideon]

DC by a long margin. Miami is bit of a paradox due to its high crime and poverty rates, but it has a unique desirability that isn't going anywhere.

[kimumingyu]

Originally Posted by 18Montclair

How do cities considered resilient fare here? Just wondering...

50 Largest Metro Area GDPs by 2010-2019 Growth Rate

I think there are much better metrics out there to reference when looking at recession resistance than this. GDP growth over the past decade is about as general of data as one can imagine.

[18Montclair]

Originally Posted by kimumingyu

I think there are much better metrics out there to reference when looking at recession resistance than this. GDP growth over the past decade is about as general of data as one can imagine.

Well, that's your opinion, but the GDP is the sum of all economic activity, so I dont know how much more precise we can get as far as gauging growth overall, but people are free to come up with criteria they like.

I was looking at year-over-year growth of MSAs and a couple of MSAs registered 10%+ annual growth in more than one year, which was far more impressive to me than metros that simply kept their heads above water during a recession.

[As Above So Below...]

Originally Posted by 18Montclair

Well, that's your opinion, but the GDP is the sum of all economic activity, so I dont know how much more precise we can get as far as gauging growth overall, but people are free to come up with criteria they like.

I was looking at year-over-year growth of MSAs and a couple of MSAs registered 10%+ annual growth in more than one year, which was far more impressive to me than metros that simply kept their heads above water during a recession.

The GDP is the sum of all activity, yes but if we look at growth, then we must include the years of 2007-2012 to really determine how a place would go.

[kimumingyu]

Originally Posted by 18Montclair

Well, that's your opinion, but the GDP is the sum of all economic activity, so I dont know how much more precise we can get as far as gauging growth overall, but people are free to come up with criteria they like.

Why would anyone try to understand an economy's resilience to a recession using data from the 9 years after a recession was already over? That's not only imprecise it's completely irrelevant.

Monthly YoY stats during the Great Recession (and 2020) would be a lot more useful.

[18Montclair]

Originally Posted by As Above So Below...

The GDP is the sum of all activity, yes but if we look at growth, then we must include the years of 2007-2012 to really determine how a place would go.

Okay, so here is data for MSAs that had a $100B+GDP in 2019...

Boston and New York go toe-to-toe with Dallas and Houston respectively. That is damn impressive of the 2 Northern cities given the mega hype TX cities get as far as nonstop growth. Kudos!

2007-2019 MSA GDP Growth
+115.48% San Jose-Sunnyvale-Santa Clara
+96.21% Austin-Round Rock-Georgetown
+89.42% San Francisco-Oakland-Berkeley
+86.78% Seattle-Tacoma-Bellevue
+81.57% Nashville-Davidson-Murfreesboro-Franklin
+70.00% Salt Lake City
+69.73% San Antonio-New Braunfels
+62.62% Portland-Vancouver-Hillsboro
+60.42% Dallas-Fort Worth-Arlington
+59.73% Boston-Cambridge-Newton
+58.92% Charlotte-Concord-Gastonia
+55.81% Columbus
+55.71% Atlanta-Sandy Springs-Alpharetta
+55.47% New York-Newark-Jersey City
+55.15% Houston-The Woodlands-Sugar Land
+54.54% Cincinnati
+54.26% Riverside-San Bernardino-Ontario
+53.12% Orlando-Kissimmee-Sanford
+51.48% Sacramento-Roseville-Folsom
+50.69% Los Angeles-Long Beach-Anaheim
+50.34% Baltimore-Columbia-Towson
+49.01% Miami-Fort Lauderdale-Pompano Beach
+48.91% Minneapolis-St Paul-Bloomington
+48.45% Indianapolis-Carmel-Anderson
+48.27% Washington-Arlington-Alexandria
+47.91% San Diego-Chula Vista-Carlsbad
+45.68% Tampa-St Petersburg-Clearwater
+43.91% Phoenix-Mesa-Chandler
+43.75% Kansas City
+40.12% Philadelphia-Camden-Wilmington
+37.93% Chicago-Naperville-Elgin
+35.15% St Louis
+34.73% Las Vegas-Henderson-Paradise
+33.33% Viriginia Beach-Norfolk-Newport News
+31.86% Detroit-Warren-Dearborn
+31.06% Cleveland-Elyria
+28.04% Hartford-East Hartford-Middletown

San Jose more than doubled it's GDP from 2007, Austin almost did too.

[stanley-88888888]

Originally Posted by stanley-88888888

both pfizer (andover) and moderna (cambridge) were developed in boston.

it seems like the third vaccine is also (at least half) invented in boston:

johnson & johnsons covid-19 vaccine was made through a collaboration of j&j's belgium-based vaccine division, janssen pharmaceutical and beth israel deaconess medical center.

https://edition.cnn.com/2021/01/22/h...ext/index.html

[bawac34618]

Originally Posted by Mutiny77

I think we found out the answer to this during the Great Recession: DC.

I wonder how much longer we'll be calling 2008-2012ish the "Great Recession." It was hardly even a recession compared to what we are dealing with now.

As far as what cities are most resistant, anywhere that doesn't depend on the service economy. The less dependent a city is on consumerism, the better it will fare.

[Boston Shudra]

Originally Posted by kimumingyu

J&J is HQ in NJ..

He was referring to Beth Isreal..