Recession has reshaped the U.S.' economic mapA deep recession, slow recovery and high unemployment have led to changes in the U.S.' economic landscape, according to The New York Times.
The South, which entered the recession with the lowest unemployment rate in the U.S., now has some of the highest rates—higher than the Northeast and Midwest, which include Rust Belt states that were struggling even before the recession. Several southern states have higher unemployment rates than they did a year ago, including South Carolina, which has the fourth-highest unemployment rate in the U.S. at 11.1 percent.
For years, the U.S. had a prospering Sun Belt and struggling Rust Belt. However, since the recession hit and unemployment continues to soar across much of the U.S., regions are recovering at different speeds, with the concentration of the highest unemployment rates in the South and West.
Six of the 10 highest unemployment rates in the U.S. are in the South, which relies heavily on manufacturing and construction—sectors that have been significantly affected by the recession. However, the West has the highest unemployment rate in the U.S.; Nevada has the highest rate at 13.4 percent and California follows with 12.1 percent. The Sun Belt and western states were hit hard when the housing bubble burst.
Many auto-producing metropolitan areas in the Great Lakes region are experiencing modest gains in manufacturing. Regions that rely on government, education or energy production have been affected least by the recession.
Only 16 of the U.S.' 100 largest metropolitan areas have regained more than half the jobs they lost during the recession.
Date : 9/30/2011