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View Full Version : BusinessWeek: Towns and Cities That Will Be Hit Hardest by Financial Crisis



Slimprofits
10-10-08, 05:06 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-->

dbarberic
10-10-08, 06:21 PM
Well.... at least my town (Cleveland, OH) was never in the bubble as it has been in a depression since all the factories left town.

don
10-10-08, 06:28 PM
Well.... at least my town (Cleveland, OH) was never in the bubble as it has been in a depression since all the factories left town.

Early FIRE.