For many Americans today, the Great Recession is nothing more than the distant shadow of a troubled economic past. After all, the longest downturn since the Great Depression officially ended in June 2009, and cities coast to coast have completely bounced back. Some have even surpassed their pre-recession economic levels, thanks to lucrative industries that helped them rebuild or stay afloat through the crisis.
Yet the effects of the recession still reverberate in various parts of the U.S., falling deeper into debt and leaving millions of Americans wondering whether the recession has indeed blown over. More than a dozen municipalities, including Detroit, have declared the rare Chapter 9 bankruptcy since 2008.
To measure the progress of local economies since the financial crisis and how much work remains to be done in the name of recovery, WalletHub compared 505 U.S. cities of varying sizes across 18 key economic indicators. Our data set ranges from “inflow of college-educated workers” to “share of households receiving public assistance” to “homeownership rate.” Continue reading below for our findings, expert commentary and a full description of our methodology.
Midland, Texas, ranked #1 for "Employment & Earning Opportunities" and for "Economic Environment" with a total score of 69.12.