New Yorkers are sometimes criticized for acting like they matter more than the rest of the country.
Well, they do.
New York City's gross metro product represents an incredible 8.6 percent of GDP.
This isn't just a matter of population, because New Yorkers produce more value per worker than average. Other large cities also outperform the rest of the country, wth the top five cities representing nearly a quarter of production.
Chicago has a bigger economy than Sweden. L.A. is bigger than Turkey. New York is bigger than Sweden.
#25 Charlotte, N.C.
Gross metro product: $110 billion
0.8 percent of national GDP
0.6 percent of national jobs
Charlotte's economic production has declined 0.7% from peak. Home prices are a bright spot, down only 13% from peak, while the national average is 18.5%.
Each slide refers to the largest city in a metro area, which may include other cities. Data is provided by BEA (2009), BLS (2010) and Brookings (March 2010).
#24 Riverside, Calif.
GMP: $111 billion
0.8 percent of national GDP
0.9 percent of national jobs
Riverside had one of the worst performing economies over recent years. GMP has dropped a shocking 6.7% since peak. The unemployment rate jumped 14% and housing declined 50%.
Each slide refers to the largest city in a metro area, which may include other cities. Data is provided by BEA (2009), BLS (2010) and Brookings (March 2010).
#23 Tampa, Fla.
GMP: $111 billion
0.8 percent of national GDP
0.9 percent of national jobs
Tampa is another disaster zone. Economic production declined 2.9% from peak. Housing posted a massive 42% decline. The unemployment rate increased 7.2%
Each slide refers to the largest city in a metro area, which may include other cities. Data is provided by BEA (2009), BLS (2010) and Brookings (March 2010).
View more at Business Insider
Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/wz6B3UEDcas/gdp-by-city-2011-3
Guide To Financial Fitness Money Game Tech Crunch Personal Finance News & Advice
No comments:
Post a Comment