Business

July 28, 2014

Study: Miami’s economic recovery ranks No. 18 in U.S.

The longest downturn since the Great Depression officially ended five years ago, and personal finance company WalletHub crunched the numbers of the 150 largest U.S. cities to identify 2014's most recession-recovered cities. Miami ranked No. 18 on the list of 150, scoring in the top 10 for population growth (9th), its decrease in violent crime (3rd) and increase in college-educated workers (5th).

The longest downturn since the Great Depression officially ended five years ago, and personal finance company WalletHub crunched the numbers of the 150 largest U.S. cities to identify 2014's most recession-recovered cities. Miami ranked No. 18 on the list of 150, scoring in the top 10 for population growth (9th), its decrease in violent crime (3rd) and increase in college-educated workers (5th).

To evaluate the progress of local cities in propelling their economic growth, WalletHub used 18 key metrics — from the number of new businesses to unemployment rates and home price appreciation — to examine how each city has performed in the last few years.

According to the study, among other metrics, Miami came in 45th for median home price appreciation; 49th for the decrease in the ratio of part-time to full-time jobs; 20th for average credit score increase; 42nd for its decrease in its public assistance rate; 23rd for its decrease in consumer debt; and 47th for new business growth.

Nattonally, the top five most-recovered cities were: Laredo, Texas, Irving, Texas, Fayetteville, NC, Denver, CO., and Dallas, Texas. The bottom five: San Bernandino, CA, Stockton, CA, Coise City, Idaho, Newark, NJ and Modesto, CA.

Find the full report here.

Nancy Dahlberg

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