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Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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The recessions hit some places harder than others, a lot of prosperous cities that seemed unstoppable by growth have hit a wall.
The country as a whole is recovering, but the cities that were affected still show small progress in recovery as compared to others.
Las Vegas, Phoenix, Los Angeles/Riverside, Tucson, Miami, Tampa, Orlando.
Which one was hit the hardest and which one has the best chance to make a come back?
Criteria:
Seems like a vague topic, but perhaps you can explain what industries or companies have large presence in the areas and what they're going to do about it.
What is the unemployment rate like compared to the rest of the country?
Employment Increased in 38 U.S. States in April, Led by Ohio, Pennsylvania (http://industry-news.org/2010/05/21/employment-increased-in-38-u-s-states-in-april-led-by-ohio-pennsylvania/ - broken link)
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,138 posts, read 16,032,687 times
Reputation: 4047
Quote:
Originally Posted by 5Lakes
Employment Increased in 38 U.S. States in April, Led by Ohio, Pennsylvania (http://industry-news.org/2010/05/21/employment-increased-in-38-u-s-states-in-april-led-by-ohio-pennsylvania/ - broken link)
Haha, that's pretty tight, but those aren't the cities/states I was hoping to compare.
I'm really happy for Ohio though, it's a great day for the Midwest!!
I don't think there is any real recovery and the situation in Europe is making the American stock market nervous. Another collapse in the fragile economy has world-wide repercussions. I know employment isn't any better in Los Angeles though the housing market is seeing a raise in property values. California depends a lot on tourism [like Florida\ Nevada]. The high price of doing business in California encourages out-of-state businesses. Just like Mexico\ India\ China took jobs from America, Texas took jobs from California. The bottom line in capitalism is making money the cheapest way no matter how many Americans lose their jobs.
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,138 posts, read 16,032,687 times
Reputation: 4047
Quote:
Originally Posted by californio sur
I don't think there is any real recovery and the situation in Europe is making the American stock market nervous. Another collapse in the fragile economy has world-wide repercussions. I know employment isn't any better in Los Angeles though the housing market is seeing a raise in property values. California depends a lot on tourism [like Florida\ Nevada]. The high price of doing business in California encourages out-of-state businesses. Just like Mexico\ India\ China took jobs from America, Texas took jobs from California. The bottom line in capitalism is making money the cheapest way no matter how many Americans lose their jobs.
The jobs being outsourced is something our current president is actually working on reversing. And it is working a little bit right now, I'm Indian and my dad talks to his brother there all the time. They're pretty ticked off that some companies have decided to move back to the USA.
I say bravo to the American people!
The problem with jobs was that they were outsourced because of the cheap salaries in the other countries, IT was heavily affected. We have thousands of H1's and L1's come into the USA to do the jobs that Americans can do, just because they do it for much lower. The Indian and Chinese H1's and L1's really benefit from that.
How's the situation looking like in California? Your governor is terrible, you guys really need a new governor, and that will take care of part of the problem.
If it means cutting the salary down, then so be it, whatever it takes to bring the jobs back into our country.
One of the local news stations here in Vegas said tonight that LV unemployment rates reached 14% for April. I can't remember exactly what it was for March, but they said it was 13 point something. So Vegas still seems to be struggling. Apparently there is some hiring going on in the hospitality industry, but it's mainly for seasonal jobs. That's better than nothing, but not very promising. The news reporter said we have the second worst unemployment rate in the country, behind Michigan.
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