The 20 Cities Having The Worst Economic "Recoveries"

Detroit

Photo: Courtesy of The Ruins of Detroit (modified)

With the U.S. economic recovery losing steam, unemployment has been stubbornly high and home prices continue to tank.A new report by Brookings picks out 20 metro areas the think-tank believes have had the worst performance from the start of the recession, through the recovery. We’ve highlighted each city’s employment levels and home prices and ranked the 20 by their real gross metropolitan product (GMP) from the pre-recession peak to Q1 2011.

Metro areas like Washington that posted strong growth saw a jump in government employment. The worst performing areas have been the ones that were most hurt by the housing bubble or were heavily reliant on the auto industry.

#19 Minneapolis, MN-WI

per cent change in real GMP from peak to Q1 2011: 1.4%

The Minneapolis metro area has seen its employment fall 5.6% from the peak to the Q1 2011, and home prices have fallen 29.7% for the same period.

Note: Data is for Minneapolis-St. Paul-Bloomington

Source: Brookings


#18 Tucson, AZ

per cent change in real GMP from peak to Q1 2011: -0.4%

Tucson has seen employment fall 8.2% from pre-recession peak to Q1 this year, and home prices have fallen a massive 38.7% in the same period.

Source: Brookings


#17 Cleveland, OH

per cent change in real GMP from peak to Q1 2011: -1.2%

The Cleveland metro area has had a 7.2% decline in employment from pre-recession peak to Q1 this year. Home prices have slumped 24.9% for the same period.

Note: Data is for Cleveland-Elyria-Mentor

Source: Brookings


#16 Sacramento, CA

per cent change in real GMP from peak to Q1 2011: -2.4%

The Sacramento metro area has had a massive 11.6% fall in employment from the pre-recession peak to Q1 this year. Home prices have plummeted 50.5% for the same period.

Note: Data is for Sacramento-Arden-Arcade-Roseville

Source: Brookings


#15 Palm Bay, FL (tie)

per cent change in real GMP from peak to Q1 2011: -3%

Employment fell 11.8% and home prices tanked 52.4% in the Palm Bay Metro area for the period between the pre-recession peak and Q1 this year.

Note: Data is for Palm Bay-Melbourne-Titusville

Source: Brookings


#15 Tampa, FL (tie)

per cent change in real GMP from peak to Q1 2011: -3%

The Tampa metro area has had home prices drop 45.7%, and a 10.6% drop in employment from the peak to Q1 2011.

Note: Data is for Tampa-St. Petersburg-Clearwater

Source: Brookings


#14 Grand Rapids, MI

per cent change in real GMP from peak to Q1 2011: -3.3%

Employment went down 5.9% and home prices fell 29.5% in the Grand Rapids metro area between the peak and Q1 2011.

Note: Data is for Grand Rapids-Wyoming

Source: Brookings


#13 Phoenix, AZ

per cent change in real GMP from peak to Q1 2011: -3.4%

The Phoenix metro area has had home prices drop 51.7%, and employment has fallen 11.5% from the peak to Q1 2011.

Note: Data is for Phoenix-Mesa-Glensdale

Source: Brookings


#12 Bridgeport, CT

per cent change in real GMP from peak to Q1 2011: -3.6%

Home prices in the Bridgeport metro area slumped 25.5%, and employment fell 7.5%, from the peak to Q1 2011.

Note: Data is for Bridgeport-Stamford-Norwalk

Source: Brookings


#11 Jacksonville, FL

per cent change in real GMP from peak to Q1 2011: -3.9%

Jacksonville's home prices fell 37.6%, and employment fell 9.1% from the peak to Q1 2011.

Source: Brookings


#10 Dayton, OH

per cent change in real GMP from peak to Q1 2011: -5.2%

Home prices in Dayton have dropped 20%, and employment has fallen 10%, from the peak to Q1 this year.

Source: Brookings


#9 Youngstown, OH-PA

per cent change in real GMP from peak to Q1 2011: -5.5%

The Youngstown metro area saw employment decline by 9.1% and home prices fall 19% from the peak to Q1 2011.

Note: Data is for Youngstown-Warren-Boardman

Source: Brookings


#8 Toledo, OH

per cent change in real GMP from peak to Q1 2011: -6.5%

Toledo's home prices fell 26.3%, and employment declined 9.6%, from the peak to Q1 this year.

Source: Brookings


#7 Riverside, CA

per cent change in real GMP from peak to Q1 2011: -6.6%

The Riverside metro area saw employment decline by 12.4%, and home prices fell a massive 52.1%, from the peak to Q1 2011.

Note: Data is for Riverside-San Bernardino-Ontario

Source: Brookings


#6 North Port, FL

per cent change in real GMP from peak to Q1 2011: -6.8%

Employment went down 14.9% and home prices plummeted 52.8% in the North Port metro area between the peak and Q1 2011.

Note: Data is for North Port-Bradenton-Sarasota

Source: Brookings


#5 Bakersfield, CA

per cent change in real GMP from peak to Q1 2011: -7.3%

Employment in Bakersfield declined 5.5% and home prices fell 53.4% from the peak to Q1 2011.

Source: Brookings

#4 Las Vegas, NV

per cent change in real GMP from peak to Q1 2011: -8.5%

Home prices in the Las Vegas metro area fell 60.5% since the peak to Q1 2011 and employment fell 13.7% for the same period.

Note: Data is for Las Vegas-Paradise

Source: Brookings


#3 Cape Coral, FL

per cent change in real GMP from peak to Q1 2011: -12.9%

Home prices in the Cape Coral metro area plummeted 59.1% and employment declined a massive 17% from the peak to Q1 this year.

Note: Data is for Cape Coral-Fort Myers

Source: Brookings


#2 Detroit, MI

per cent change in real GMP from peak to Q1 2011: -13.3%

The Detroit Metro area saw home prices fall 44.4% from the peak to Q1 2011 and employment fell 14.6% in the same period.

Note: Data is for Detroit-Warren-Livonia

Source: Brookings


#1 New Orleans, LA

per cent change in real GMP from peak to Q1 2011: -15.6%

Employment in the New Orleans metro area has been down a massive 15.4% from the peak to Q1 2011 and home prices were down 17% in the same period.

Note: Data is for New Orleans-Metairie-Kenner

Source: Brookings


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