Monday, January 19, 2009

FYI- Economic Tidings

Buried in the US Conference of Mayors US Metro Economies report is the projected loss of 43,800 jobs in Houston in 2009. The 7th largest job market in the country, Houston will lose less jobs than Dallas, but a slightly larger percentage of current jobs.

Faring better than the six larger metropolises as well as Miami, Boston, Phoenix, Atlanta, Detroit and San Francisco, that puts us at #11 in total expected job losses; with a current low unemployment rate, 5.3%, that only ticks up joblessness to to 6.6%. Much better than the 180,800 job losses in New York or 164,100 in Los Angeles that will spike unemployment up to 7.6% and 9.8% respectfully.

Out of 363 metros in the US, only McAllen, TX, St. George, UT, Anchorage and Fairbanks, AK, and Ithaca, NY will escape the next year unscathed.