Recession-Hit Areas Lag for Years Afterward

October 14, 2010  |  

(Wall Street Journal) — Communities hit hardest during the recession could continue to fall behind the rest of the country for decades, research released Wednesday by the Brookings Institution’s Hamilton Project suggests.  In regions that suffered disproportionately in the recession of the early 1980s, for example, average earnings have risen at a quarter of the rate of the rest of the U.S. Employment grew more slowly, young people left the region, population growth slowed and, as a result, demand for housing weakened. A similar fate could be in store for areas of the country that faced the deepest housing and employment shocks in the latest downturn, the report warned.

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