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January 19, 2009 How will your city do in the downturn?Posted: 08:49 AM ET
Business Correspondent Jennifer Westhoven These are some tough numbers out today. More than 70 cities across the United States could see unemployment top 10% by the end of year, according to a study that was put together for the U.S. Conference of Mayors.
New York is among other cities expected to suffer huge job losses in the first quarter of 2009. Sure, there’s Detroit and Cleveland and some of the Rust Belt states (Ohio, Illinois, Michigan and Indiana) … but there were also cities in Colorado, South Carolina, Washington and Florida. And there were many, many cities in California, reeling from the housing collapse. The heaviest job losses will be in New York City, Los Angeles, Miami and Chicago – but these cities have enough jobs in other industries to cushion the blow a bit, so they may not end up at more than 10% unemployment this year. It’s often the smaller cities that depend on just a few companies or industries that can get hurt the most. The cities that may see the least damage: Ithaca, New York; St George, Utah; and Anchorage and Fairbanks Alaska. To find your city’s prospects, you can read the report yourself. Warning: it’s a little hard to read the table, but try it, near the end of the report. Good luck! See a partial list of cities that will see unemployment top 10% after the jump Detroit MI Posted by: Business Correspondent Jennifer Westhoven |
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