Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.
September 26, 2013 at 12:01 PM
Output gains help Northwest metros
Seattle-Tacoma-Bellevue comes in with the 15th best performance among the 100 metros in the September update of the Brookings Institution’s Metro Monitor. The project tracks how metropolitan areas are recovering from the recession, using a variety of measures, including jobs, unemployment, housing and output. The No. 15 ranking tracks from the trough of the downturn to the most recent data, and is especially helped by a big rebound in output.
A somewhat different result comes from examining data from the previous peak until this year. Here, Seattle 20th overall and is very strong in reducing unemployment. House prices were still way down, at least as of the second quarter.
Portland comes in 9th overall and Boise 18th. The overall message of the data is a slow recovery almost everywhere. Many metros, especially in the Sun Belt outside of oil-rich Texas, remain significantly below their pre-recession peaks.
And Don’t Miss: Why are 47 million Americans on food stamps? It’s the recession — mostly | Wonkblog
Today’s Econ Haiku:
The deficit’s down
Why have a debt-ceiling fight?
Whose default is that?