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Metro Economies – The Engines of America's Growth

Prepared by Global Insight for: The United States Conference of Mayors and the Council for the New American - June 2008 City

There is no question that the metropolitan areas of the United States are the driving forces of the U.S. economy, responsible for more than 85% of jobs, 90% of wage income and production, and 92% of the country's real GDP growth in 2007.  

It is also clear, however, that with the economy on the cusp of recession, many metros have fallen on hard times, a result of the housing/credit crisis, higher oil/food prices, and manufacturing cuts.

Global Insight forecasts that job growth in 2008 will be tepid at best and unemployment will surge, while real GMP gains slow and nearly 10% of metro areas actually have output declines. Of significant concern is a group of metro areas, nearly one in five, that are likely to experience no job growth for the entire decade.

To access the full report, click here.