The Nine American Cities Nearly Destroyed by the Recession

[FreakinDJ]

The nation continues to be mired in an anemic, jobless recovery. And according to a report commissioned by the United States Conference of Mayors, and prepared by IHS Global Insight, many regions in the country still continue to lose jobs. Of the 363 U.S. metropolitan regions reviewed by IHS, only 61 will fully recover all the jobs that were lost during the recession by the end of this year. The rest will recover far fewer — the average city will only recover roughly 40% of jobs lost from peak employment.

24/7 Wall St. examined the nine metropolitan regions that are projected to recover less than 5% of the jobs lost during the recession by the end of 2012. These cities, in particular, were hurt by the housing crash, the loss or decline of an industry, and a reduction in government services and jobs.

Many of the cities that will recover the least jobs by the end of this year experienced particularly heady housing markets through 2006. As a result, they also had among the worst housing crashes in the country. In Reno-Sparks, Nevada, median home values dropped nearly 40% between 2007 and 2010. Five of the nine cities on this list had a major decline in housing, with four markets losing 25% of their median home value.

http://247wallst.com/2012/01/19/the-nin-cities-that-havent-recovered-from-the-recession/#ixzz1kD8Pdtn1

[BlueDemOhio]

1. Looks like nevada and texas

were hit the hardest

[AnotherMcIntosh]

2. It is, of course, illogical to believe that manufacturing jobs can be shipped to foreign countries

and that somehow we will have enough jobs in our American cities.

The tax breaks for shipping American jobs to foreign countries benefit the super-rich at the expense of Americans as a whole. Such tax breaks have helped to destroy our cities.

This started with Nixon (and the billionaire Jackson Stephens) in 1971 when the DISC legislation was passed a few months before Nixon went to China.
http://www.nationalcorruptionindex.org/pages/profile.php?profile_id=283

How can the American mayors in the big cities not have sufficient power to stop this?