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The Washington, D.C.-based think tank has beguh analyzing the impact of the recessionthroughout America’s metropolitan In the first of a series of quarterluy MetroMonitor reports, Brookings ranked San Oklahoma City, Austin, Houston and Dallas as the top five metrl areas in the country in economi performance in the wake of the recession. Brookings ranked the top 100 metropolitan areas based on six keyindicatorsz — employment, unemployment rates, wages, gross metropolitan product, housing pricex and foreclosure rates. This initialk MetroMonitor report covers the first quarterof 2009.
The five worst metropolitan areas in the country impactefd bythe recession, in descending order, are Fla.; Lakeland, Fla.; Tampa, Fla.; Bradenton, Fla.; and Detroit. “All metropolitan areas are feeling the effectds ofthis recession, but the distress is not shares equally,” says Alan Berube, research directord of the Metropolitan Policy Program at Brookings and co-authore of the report. “While some areas of the countru have experienced only ashallow downturn, and may be emergingv from the recession people living in metro areas that are now performinfg weakest economically should prepare themselvee for a long recoverg period.
” Howard Wial, director of the Metropolitamn Economy Initiative at Brookings and another co-author of the argues that the report shows that a national fiscakl and monetary policy will not be enough for stimulatin g the economy. “Many (metro) areas will need targetedc assistance, and since states have no funds available, the federalk government will have to step up to fillthe void.” Concentrations of industry activity have both helped and hurts some regional economies during the recession.
For example, metropolitan areaws in states with specializations in energy and governmentemployment — such as New Mexico, Oklahoma, Arkansas and Louisiana — have largel y been insulated by the However, metropolitan areas in states like Michigan and Ohio that depens heavily on the automotive industrhy have been impacted by the downturnn in the economy, the reporg shows. San Antonio is home to Randolph Air Force FortSam Houston, Lackland Air Forcwe Base and Brooks City-Base.
The 2005 Base Realignment and Closurse decision alone is providing a significant economic puncjh to theAlamo City’s economuy through the consolidation of high-paying military health care jobs and more than $2 billion wortuh of new construction activity. A separate repory released by LLC outlining the impacty of BRAC showed that Fort Sam Houston alone woul d experiencea 11,500 increase of personnel. The Army post will also gain 7.9 milliom square feet of space. Construction activityy due to BRAC alone shouldcreate 46,000 construction jobs during the course of the buildinb programs, the DiLuzio report showed.
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