THE 11 US CITIES THAT ARE HAVING THE BEST RECOVERIES

A surprising spike in home prices in some of America’s biggest cities has boosted the recovery, according to Brookings’ latest report.

The MetroMonitor looks at employment, unemployment, production, and home prices. We identified the strongest economic recoveries from trough to the third quarter of 2012.

“Notably, the strongest performances over the last quarter were in parts of the country hit hardest by the housing crisis, but those are also the places with the furthest left to go,” said Alec Friedhoff, the lead developer of the report.

New Orleans ranked first for the second year since its economic trough occurred in 2005 after Hurricane Katrina, not during the recession.

Bakersfield, CA11. Bakersfield, California

Unemployment rate down -2.6% since 2010Q1

Employment up 7.8% since 2009Q4

Gross metro product up 6.6% since 2010Q3

Home prices up 3.3% since 2012Q2

Salt Lake City, UT10. Salt Lake City, Utah

Unemployment rate down -2.9% since 2009Q4

Employment up 5.9% since 2009Q4

Gross metro product up 12.6% since 2009Q2

Home prices up 2.6% since 2012Q2

Detroit, MI9. Detroit, Michigan

Unemployment rate down -5.2% since 2009Q3

Employment up 5.0% since 2009Q3

Gross metro product up 9.6% since 2009Q3

Home prices up 1.9% since 2012Q2

Grand Rapids, MI8. Grand Rapids, Michigan

Unemployment rate down -4.9% since 2009Q4

Employment up 5.9% since 2009Q3

Gross metro product up 12.4% since 2009Q3

Home prices up 1.0% since 2012Q2

Austin, TX7. Austin, Texas

Unemployment rate down -1.6% since 2009Q4

Employment up 8.2% since 2009Q4

Gross metro product up 15.8% since 2009Q3

Home prices up 2.6% since 2011Q2

Houston, TX6. Houston, Texas

Unemployment rate down -1.9% since 2010Q1

Employment up 7.4% since 2009Q4

Gross metro product up 15.3% since 2008Q3

Home prices up 2.9% since 2011Q2

Boise City, ID5. Boise City, Idaho

Unemployment rate down -2.2% since 2010Q4

Employment up 3.5% since 2009Q3

Gross metro product up 9.4% since 2009Q2

Home prices up 7.5% since 2011Q2

Portland, OR4. Portland, Oregon

Unemployment rate down -3.2% since 2009Q2

Employment up 4.5% since 2009Q4

Gross metro product up 21.0% since 2009Q2

Home prices up 2.3% since 2012Q2

Phoenix, AZ3. Phoenix, Arizona

Unemployment rate down -3.2 since 2010Q1

Employment up 4.5% since 2010Q3

Gross metro product up 8.3% since 2009Q3

Home prices up 10.1% since 2011Q2

2. San Jose/Santa Clara, California

Unemployment rate down -3.4% since 2009Q4

Employment up 7.5% since 2009Q3

Gross metro product up 21.3% since 2009Q3

Home prices up 3.2% since 2012Q1

New Orleans, LA1. New Orleans, Louisiana

Unemployment rate down -0.7% since 2010Q4

Employment up 19.4% since 2005Q4

Gross metro product up 24.2% since 2005Q4

Home prices up 1.4% since 2011Q2

This article was brought to you from my Monthly E-Newsletter, written by Joshua Berlinger of Yahoo! News Business Insider. Data provided by the Brookings’ MetroMonitor. Gross Metro Product, Unemployment rate, and Home prices are tracked from Trough to 2012Q3. Employment is tracked from Trough to 2012Q2.

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