Monday, January 25, 2010

What if America’s Urban Economies Were National Ones?

Streetsblog Capitol Hill » What if America’s Urban Economies Were National Ones?: "The U.S. Conference of Mayors released a report this week with some dire conclusions for the nation's cities: Even the payroll growth that many prognosticators anticipate this year won't make a dent in double-digit urban unemployment. Half of the 363 biggest metro areas won't return to their pre-recession jobs levels until 2013 or beyond.

All this despite the fact that those 363 cities accounted for 90 percent of the U.S. gross domestic product (GDP) last year and 86 percent of all jobs."

Why do people think 2013 will be so much better than 2010? Did those people predict that 2008 and 2009 would be catastrophic? I don't think so.

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