WalletHub released a study that compares the top 150 largest U.S. cities, measuring how local economies are recovering. See where North Carolina cities landed on the list.
The recession officially ended six years ago. And while many cities across the country have completely recovered—or even surpassed their pre-recession economic levels—others have continued to struggle. Fourteen municipalities have declared Chapter 9 bankruptcy since 2008, and others face increasing crime rates, decline in school rates, falling property values, collapse of local administrations and business shutdowns.
WalletHub released a study comparing the 150 largest U.S. cities to measure how local economies are doing and how much recovery remains to be done. The cities were evaluated with 17 key economic metrics under two categories: Employment and Earning Opportunities, and Economic Environment. The 17 factors included unemployment rate, inflow of college-educated workers, ratio of part-time to full-time jobs, median household income, labor force participation rate, median home price, foreclosure rate, poverty rate, percentage of households receiving public assistance, population size, bankruptcy, number of businesses, average Experian Vantage credit score, consumer non-housing debt, violent crime rate, gross metropolitan product and Chapter 9 bankruptcy filing.
Here are the cities that made the list in North Carolina, as well as their overall rank in the list from most to least recovered:
Fayetteville (No. 9)
Durham (No. 19)
Raleigh (No. 22)
Charlotte (No. 71)
Greensboro (No. 86)
Winston-Salem (No. 92)
Fayetteville was also the No. 1 city that experienced the highest decrease in the ratio of part-time to full-time jobs.
To see the full study, visit http://wallethub.com/edu/most-least-recession-recovered-cities/5219/.