Cities in different US states that still have not recovered from the economic crisis

The recession of 2008, aka the Great Recession, was America's worst financial crisis since the Great Depression. Millions of jobs have been lost, countless houses have lost their owners, and many people have exhausted their savings in an attempt to stay afloat, writes GOBankingRates.

Фото: Depositphotos

Despite the fact that more than ten years have passed since the end of the Great Recession, some US cities still have not recovered from its consequences.

For example, in Illinois, one city lost almost 60% of the cost of housing, from which it never recovered. And in one city in California over a decade, unemployment rose from 9,7% to 19,6%.

To find out which cities are still trying to recover from the Great Recession, GOBankingRates analyzed the average values ​​of housing prices, unemployment and labor levels, as well as average household incomes for 2007, 2009, 2017 and 2019.

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California

The city of Ridley is experiencing the worst times in terms of unemployment. Over 10 years, the indicator here jumped by 8,5 percentage points - from 8% in 2007 to 16,5% in 2017.

Of the five largest cities in California that were least likely to recover from the Great Recession, Indio saw the largest reduction in labor. The level fell by 5,5 percentage points over 10 years.

Florida

Titusville has struggled the most with unemployment. From 2007 to 2017, its level increased by 5,8 percentage points, from 3,7% to 9,5%. Fruit Cove, the place hit hardest by the recession, saw unemployment rise by 3,6% (from 2,9% to 6,5%).

Illinois

Harvey has been hit hard by the recession compared to other Illinois cities. From 2007 to 2019, the average cost of housing decreased from $ 104 to $ 592, which is 42% less. In addition, the average household income fell from $ 550 to $ 59,32 in just 39 years — 378% less. Nevertheless, Lansing showed the sharpest increase in the unemployment rate - 24 percentage points (from 343% to 10%).

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New Jersey

The average cost of housing in New Brunswick from 2007 to 2019 decreased by 10,4%, falling from $ 300 in 517 to $ 2007 in 269. In addition, the average family income in this city decreased by 270% from 2019 to 17,86. The unemployment rate increased by 2007 percentage points between 2017 and 4,6 (from 2007% to 2017%).

New York

The average cost of housing in Shirley has decreased by 14,55% since 2007, falling from $ 309 to $ 000. Meanwhile, the unemployment rate in Harrison increased by 264 percentage points between 050 and 3,3, increasing from 2007% to 2017%. In Deer Park, the unemployment rate increased by 4,2 percentage points over the decade, increasing from 7,5% to 3%.

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