Here’s another “best of”, “worst of” list and Reno wins another prize. It may not be the prize that Reno would like on its resume although it’s not necessarily our fault. It is not just a story about Reno or Northern Nevada. This is an American problem, and I believe it was completely caused by politicians.
This is a list from 24/7 Wall St. of 9 cities that the article claims were nearly destroyed by the recession. Reno was scored in second place.
2. Reno-Sparks, NV
> Pct. jobs recovered: 1.6%
> Q4 2012 jobs: 187,600
> Pre-recession jobs peak: 225,200
> Recession jobs trough: 187,000
> Pct. jobs lost: 16.9%Between 2007 and 2010, the median home value in Reno-Sparks, Nevada declined 37.4%, the 13th biggest drop in the country among metro areas. The problems of the recession have plagued states in the southwest, which once had booming housing markets, arguably more than any other part in the country. From the beginning of 2007 to the third quarter of this year, jobs are projected to decline by 38,200, or 16.9% of the workforce. And according to the report, only 600 jobs, a mere 1.6%, will be recovered by the end of the year.
Read more: http://247wallst.com/2012/01/19/the-nin-cities-that-havent-recovered-from-the-recession/