Tuesday, January 28, 2014

Economic Recovery for Half of U.S. Counties

A new report from the National Association of Counties finds that one-half of U.S. county-level economies still fall short of their pre-recession output.

The report examined four economic indicators: GDP, total jobs,unemployment rates, and home prices. Almost 400 counties saw no decline in GDP from their pre-recession levels. About 800 counties returned to pre-recession employment levels by 2013; most of these were located in the South and the Midwest.

According to report findings published by the Wall Street Journal, the Oregon counties that have achieved recovery include Clackamas, Polk, Benton, Clatsop, Tillamook, Jefferson, Umatilla, and Union. The counties classified as "never in recession" in terms of economic output included Washington, Hood River, Wasco, Wallowa, Malheur, Morrow, and Lincoln.
The overall U.S. economy returned to its pre-recession level of gross domestic product three years ago. The county-level perspective serves as a demonstration of the uneven economic recovery nationwide.

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