Thursday, May 15, 2008

America's Top 10 Recession Proof Cities

Some cities have lower unemployment; strong and affordable housing markets; and industries that are continuing to grow, improving, or holding steady. Forbes top 10 recession proof cities are:

1. Oklahoma City, OK

2. San Antonio, TX

3. Austin, TX

4. San Jose, CA

5. Raleigh, NC

6. Salt Lake City, UT

7. Houston, TX

8. Seattle, WA

9. Charlotte, NC

10. Dallas-Fort Worth, TX



Forbes.com examined the country's 50 largest metros and looked at several key measures:

  • Unemployment data supplied by the U.S. Bureau of Labor Statistics for the year ending in February 2008 to see which areas are most adding or subtracting jobs.

  • BLS data on job growth in non-farm payrolls, through February 2008, for construction, education and health services, financial activities, information, leisure and hospitality, manufacturing, natural resources and mining, professional and business services, trade, transportation and utilities, and the BLS's catch-all category, "other services."

  • Median home price data from the National Association of Realtors--from the fourth quarter of 2006 to the fourth quarter of 2007--to see which areas posted the largest annual gains. This data doesn't account for the impact of declining sales in the first several months of this year.

  • Rankings were adjusted using data from a November 2007 report, "U.S. Metro Economies: The Mortgage Crisis," by the U.S. Conference of Mayors. It lists each city's estimated gross metropolitan product growth by projecting how rising foreclosures and falling home prices would affect overall levels of productivity in local economies

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