babbittd
10-10-08, 03:06 PM
Editor's Note: The cities are ranked by percent of people employed in finance, insurance, real estate, and leasing in 2007 as estimated by Claritas. All cities have a population of at least 20,000 people.
Source: Reinvestment Fund of Philadelphia's PolicyMap (policymap.com)
http://images.businessweek.com/ss/08/09/0925_crisis_towns/index.htm
http://www.businessweek.com/lifestyle/content/sep2008/bw20080925_757510.htm
From CEOs to security guards, the financial, insurance, and real estate sectors employ approximately 9.8 million people in the U.S. alone, nearly 7% of the entire American workforce, and their spending potential is even greater.
[..]
Moody's Economy.com projects that New York City and its suburbs will lose 65,000 finance jobs by the middle of 2010, or 11% of the total.
[..]
But the impact of a downturn could be more serious in smaller cities that are less diversified. Wilmington, Del., where many of the nation's credit-card companies are headquartered; Charlotte, N.C., home of Bank of America and Wachovia; and Sioux Falls, S.D., where many back-office jobs are located, each have about 15% of residents working in finance, real estate, and insurance.
The F.I.R.E. factory towns.<!--/STORY-->
Source: Reinvestment Fund of Philadelphia's PolicyMap (policymap.com)
http://images.businessweek.com/ss/08/09/0925_crisis_towns/index.htm
http://www.businessweek.com/lifestyle/content/sep2008/bw20080925_757510.htm
From CEOs to security guards, the financial, insurance, and real estate sectors employ approximately 9.8 million people in the U.S. alone, nearly 7% of the entire American workforce, and their spending potential is even greater.
[..]
Moody's Economy.com projects that New York City and its suburbs will lose 65,000 finance jobs by the middle of 2010, or 11% of the total.
[..]
But the impact of a downturn could be more serious in smaller cities that are less diversified. Wilmington, Del., where many of the nation's credit-card companies are headquartered; Charlotte, N.C., home of Bank of America and Wachovia; and Sioux Falls, S.D., where many back-office jobs are located, each have about 15% of residents working in finance, real estate, and insurance.
The F.I.R.E. factory towns.<!--/STORY-->