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The Major Cities to be Hit Hardest by Recession

According to Associated Press, New York City leads all U.S. cities in expected job losses for 2009.

These are the statistics of the top 4 cities:

New York City – 181,000 jobs

Los Angeles – 164,000 jobs

Miami – 85,000 jobs

Chicago – 80,000 jobs

Studying the numbers, I think the AP’s column overlooks an important fact: The Miami metropolitan area is much, much smaller than the other three metropolises. According to a city population website, here are the populations of the New York, Los Angeles, Chicago, and Miami metropolitan areas as of 2007:

New York City – 18,815,988

Los Angeles – 12,875,587

Chicago – 9,524,673

Miami – 5,413,212

While Miami has less than one-third of New York City’s population, it will incur roughly one-half the job losses (181,000 to 85,000). So, while New York City may lose the most jobs in total, Miami will lose the most jobs (at least from the list above) per person.

If Miami had New York City’s population, it would lose 295,000 jobs in 2009.

January 19, 2009 Posted by | Economics, Politics | , , , , , , , , | 1 Comment