Colorado Springs: One of the Forty Strongest U.S. Metro Economies
The decline in the United States economy in the past few years has affected our country more than any of us had anticipated. Business Week recently released an article discussing the top forty cities least touched by this difficult recession. While no market completely dodged this tough time, Colorado Springs made it to 24 on the list.
Overall rank: 24
Colorado Springs, the state's second-largest city, is 80 miles south of Denver's International Airport and about 90 minutes east of popular ski resorts. Employment in the Colorado Springs metro peaked in the first quarter of last year. Gross metropolitan product in the second quarter was down just 2.7% from the peak in the third quarter of last year. Home prices were flat in the second quarter compared with the same period a year earlier. And the unemployment rate in June was 8.3%, up 2.4 points from a year earlier. (Please see below for the various criteria used by the Brookings Institution to determine the overall ranking.)
Job growth (since peak) rank: 52
Gross Metro Product (since peak) rank: 20
Unemployment change (year over year) rank: 10
Home price change (year over year) rank: 43
Forbes had also listed Colorado Springs as the third highest city for housing recovery in August.
Park Avenue Properties
Tanya Stevenson-Becht & Sandy Daniels
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