Economic Recovery: Which States Are Bouncing Back Fastest?

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People ride bicycles along the street in Stockton, California, U.S., on Thursday, June 14, 2012. The city may have to decide next week whether to seek Chapter 9 bankruptcy protection if talks with creditors that end on June 25 don't yield concessions. Photographer: David Paul Morris/Bloomberg via Getty Images
David Paul Morris/Bloomberg via Getty Images
On Wednesday, the Federal Reserve Bank of New York released an analysis of which states have done the best at recovering jobs lost in the 2008 recession and which are still struggling. On the surface, there doesn't seem to be a consistent trend: some red states, like Texas, are doing well; others, like Arizona, are lagging behind. Conversely, some blue states, like New York, have recovered nicely; others, like California, are still among the worst hit.

The Federal Reserve notes that a few factors seem to be at play: manufacturing-heavy states are still hurting, as are states that had a big real estate boom. On the other hand, as The Atlantic's Jordan Weissmann noted, resource-rich states like North Dakota seem to have had a softer landing.
Economic improvement
U.S. Bureau of Labor Statistics; Moody's Economy.com


Ultimately, though, there are two clear takeaways: first, things are looking up a bit if you live in Texas, West Virginia, New York, North Dakota, South Dakota, or Utah. And things are looking down if you're in California, Oregon, Nevada, New Mexico, Arizona, Missouri, Michigan, Ohio, Alabama, Florida, Delaware, Connecticut or Rhode Island.
Job loss and bounce-back
U.S. Bureau of Labor Statistics; Moody's Economy.com


The second takeaway is not quite as clear but even more significant: Unlike the 1990 recession, recovery from this one is almost universally anemic. In other words, while some of us have it better than others, the whole country is still hurting.



Bruce Watson is DailyFinance's Savings editor. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.

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rich_paddlyrich

1. LEAST POPULAR SENATOR. Mitch McConnell isn't even popular in his own home state:
Kentucky voters:
Approve: 37% Disapprove: 55%
The worst Home State approval of any Senator.
2. CORRUPTION. McConnell is list as the "Most Corrupt" Senator in a Report by Citizens For Ethics:
Just one example: Since 1997, McConnell has earmarked $336 million for a Kentucky-based defense contractor "United Defense/BAE Systems." Even when the Defense Dept had decided not to use "United Defense/BAE Systems," McConnell included $25 million in earmarks for the company. In turn, the Company has donated $58,000 to McConnell's campaigns. In addition, the Company has pledge $500,000 to the McConnell Center at the University of Louisville.
3. FILIBUSTERS FOR HIRE. Many of McConnell's filibusters come right after he received donations from Companies opposing a bill or nomination:
+ McConnell led the filibuster blocking the repeal of Oil Subsidies the day after he received $131,500 in campaign contributions oil donors from Midland, Texas.
+ McConnell filibustered the nomination of district court nominee Jack McConnell, who was opposed by the Insurance Industry and Chamber of Commerce. McConnell's opposition came after $1.7 million in Campaign contributions from the Insurance Industry.

July 02 2013 at 11:39 PM Report abuse +1 rate up rate down Reply
1 reply to rich_paddlyrich's comment
rich_paddlyrich

Here are some facts for you,.........WHACKOCRACKO.................

July 02 2013 at 11:40 PM Report abuse +1 rate up rate down Reply
h.hughjardon

Tony R's Music
Yea, maybe you all can do better like you did with bush. Sending jobs over seas, the breaking the country. Yea, I know, this time will be different. The country has heard it before with all the other good for nothing republicans lying ass.
xxxxxxxxxxxxxxxxxxx


Wow....the R must stand for Retard. Nothing but name calling and tired false talking points...all up and down this board. I have asked the question time and time again, what did Bush sign to cause the collapse? Anyone, feel free to answer if you have it.

Anyhow, keep touting your obama numbers, but in the meantime, here are a few indicators for comparison to Bush...

Unemployment ..pay particular attention to what happened after you all elected a dem congress

http://data.bls.gov/timeseries/LNS14000000

Or for GDP
http://www.indexmundi.com/g/g.aspx?c=us&v=66

Or workforce participation...lowest now since thencarter administration.
http://data.bls.gov/timeseries/LNS11300000

And if you want a real party, take a look at what median family inclme has done since that POS obama has been in office.

June 30 2013 at 10:27 AM Report abuse -1 rate up rate down Reply
1 reply to h.hughjardon's comment
rich_paddlyrich

Bush didn't have to sign anything to cause the economy to collapse DF.

July 02 2013 at 11:49 PM Report abuse +1 rate up rate down Reply
Tony R's Music

Save all your hate and bigotry for the last second when another tornado comes knocking on your door. :) All you mother ******* DIE!!!

June 30 2013 at 1:30 AM Report abuse rate up rate down Reply
Tony R's Music

Yea, you pieces of sh**t try to blame every screwed up things you have done on Obama, but were laughing at your dumb asses. You havent won in 9 years, and your not going to win another 9.
So all of you suck my jindel. ha ha. Obama NWO? Yea right, your fake lying scare tactics haven't worked. You need to be watching out for the bad things that come in 3's. 3 is half of 6. 3 half's of the devil is George 1, George 2, and Jeb 3. That's the real NWO . REPUBLICANS SECRETLY WORSHIP THE DEVIL.

June 30 2013 at 1:16 AM Report abuse rate up rate down Reply
3 replies to Tony R's Music's comment
camp4bell

eeverettm, there's time to leave! Where I live in So. California, there's more Chinese than Mexicans. They are sending family members over one at a time. They are coming here to live a better life. That means there's some space opening up in Bejing where you can enjoy more control. Russia and China await. Get packing.

June 29 2013 at 5:47 PM Report abuse +2 rate up rate down Reply
1 reply to camp4bell's comment
demcoverup

You could hop on a plane and go too.

June 29 2013 at 7:29 PM Report abuse -2 rate up rate down Reply
eeverettm

It's all part of the obama agenda. He said it when he was elected: We must change America. Let the u.s. be on the same level as other countries. Why? To get us ready for his NWO- the one world order of socialism. What he doesn't take into consideration is that countries like Russia and China don't think that way. They want control!

June 29 2013 at 3:03 PM Report abuse rate up rate down Reply
1 reply to eeverettm's comment
Tony R's Music

NO MATTER HOW MUCH YOU TRY TO LIE TO THE PEOPLE, THE REPUBLICANS AND THE BUSH FAMILY ARE THE REAL NWO DEVILS AND ILLUMINATTIS. SO KEEP LYING WITH YOUR SCARE TACTICS. AND SINCE YOUR SO HARD ON OBAMAS DICK. BUY YOU AN OBAMA DOLL AND STICK A HOT DOG ON IT AND PRETEND YOUR ******* OBAMAS DICK. IF YOU DONT LIKE OUR PRESIDENT, HERES A THOUGHT. BUY A PLANE TICKED AND FLY YOUR ASS BACK TO EUROPE. TALK **** ABOUT BUSH, HE'S THE ONE SCREWED US ALL AND SENT ALL THE JOBS OVER SEAS.

June 30 2013 at 1:43 AM Report abuse -1 rate up rate down Reply
Dr. David Secord

I think that all you need to know can be found here: http://www.willisms.com/

June 29 2013 at 2:47 PM Report abuse rate up rate down Reply
rvheaney

I live in Califorina and the recovery sucks ! But then we are supporting half of Mexico and most of the people are far left liberals!

June 29 2013 at 2:21 PM Report abuse +3 rate up rate down Reply
ectullis

What recovery? OMG

June 29 2013 at 1:33 PM Report abuse +1 rate up rate down Reply
1 reply to ectullis's comment
Tony R's Music

Better than what you POS republicans did. And during the election for congress, "JOBS JOBS JOBS, Were going to create JOBS! Who the lying sack of **** now? They haven't mentioned a damn thing about jobs once they got in. It was all "CUT CUT CUT!" **** YOU REPUBLICANS. The only plan you have is to finish driving America into the sewer.
Obama tried to create jobs, but you worked hard to make sure your block everything sure he fails, not giving a damn about the American people. F Y All!

June 30 2013 at 1:28 AM Report abuse rate up rate down Reply
mn4470

Well, here in Florida, the middle class is being paid the same wages they were being paid forty years ago. Eight dollars an hour is common, excepting Sears at minimum wage, Nine dollars an hour is considered good, starting supermarket e=wages, and ten dollars an hour is considered by business to be a "career" job.
As a sixty year old, recently moved from Denver Colorado, it is like moving to a third world country. I thought that moving where there is no snow, thus spending less on heating, would be cheaper to live, but it's not. All the grocery prices are the same or higher, as in the case of meat(Florida is the 3rd biggest cattle ranching state in the country).
The there are the prices of fruits and vegetables. This is Florida, where most fruits and vegetables are grown. I drive past farms everyday that have hundreds of acres of strawberries and tomatoes, yet the prices are the same as those 1500 miles away in Colorado. Why???????????
Now if all the grocery wholesalers have centralized and controlled the food markets, like it appears they have been allowed to do, why have wages not followed the upward spiral. The state workers in Florida have not had raises in years. The teachers got a salary CUT from the governor, and they already make an abysmally low wage.
The governor keeps attempting to portray himself as the "people first" governor, but he has sold out the state to big business who all want to pay minimum wage to everyone. Then the Governor wonders why he cannot get new companies to move here. IMAGINE THAT !

June 29 2013 at 1:03 PM Report abuse +1 rate up rate down Reply