Study Shows El Paso 3rd Most Recession-Recovered Large City
A new study done by the personal-finance site WalletHub shows El Paso as the 3rd Most Recession-Recovered Large City.
Since the Great Recession officially ended in June of 2009, many cities across the country have bounced back from economic trouble. Even better, some cities were able to do even better than they were before the Great Recession, thanks to industries that allowed them to stay afloat during the crisis or rebuild fast.
While some cities and parts of the country only remember the Great Recession as a distant memory, other parts are still feeling the burden and debt that the time caused them. Millions of Americans are still facing hard times and continue to fall deeper and deeper into financial turmoil. Entire cities are still facing bankruptcy, high unemployment rates and poverty levels in their areas.
The personal-finance site WalletHub decided to measure the recovery progress that his been made by over 500 cities of different sizes. There were 18 key economic indicators used by WalletHub and included “inflow of college-educated workers," “share of households receiving public assistance,” “homeownership rate” and more. Find the entire list of the 18 key economic factors here.
Here is how El Paso ranked when WalletHub analyzed pre- and post-recession numbers:
- 12th – Home Price Appreciation
- 3rd – Poverty Rate
- 51st – Unemployment Rate
- 121st – Inflow of College-Educated Workers
- 75th – Consumer Non-Housing Debt
- 182nd – Labor-Force Participation Rate
According to this study, El Paso was the 13th overall most Recession recovered city and the 3rd most Recession recovered large city.
Read WalletHub's entire study of 2017's Most and Least Recession-Recovered Cities on their website.