Fort Lauderdale, Pembroke Pines Land on List of "Recession-Recovered" Cities
Photo courtesy of FlickreviewR via Wikimedia Commons
It's been six years now since the Great Recession supposedly ended, although the economic aftershocks continue all around the country. With that grim bit of socio-economic truth in mind, the good folks over at WalletHub decided to conduct a ranking of the cities that have best jumped out of the recession, as well as those that haven't mounted quite as robust a recovery. Not surprisingly, Broward cities land on the list — but where?
To build the list "2015’s Most & Least Recession-Recovered Cities," WalletHub looked at economic data from the 150 most populated cities in the US, training their eye on seven categories. These include median home price,
Employment & Earning Opportunities – Total Weight: 5
Unemployment Rate: Double Weight
Inflow of College-Educated Workers (%): Full Weight
Ratio of Part-Time to Full-Time Jobs: Full Weight
Median Household Income: Full Weight
Labor-Force Participation Rate: Double Weight
Economic Environment – Total Weight: 5
Median Home Price: Full Weight
Foreclosure Rate: Full Weight
Poverty Rate: Full Weight
Percentage of Households Receiving Public Assistance: Full Weight
Population Size: Full Weight
Bankruptcy: Half* Weight
Number of Businesses: Full Weight
Average Experian Vantage Credit Score: Full Weight
Consumer Non-Housing Debt: Full Weight
Violent-Crime Rate: Full Weight
GMP (Gross Metropolitan Product): Full Weight
Chapter 9 Bankruptcy Filing: Double Weight
Balancing all these categories, the analysts behind the list found that Lubbock, Texas, topped the 150 entry list as the most "recession-recovered" city in the US. The least recovered was San Bernardino, California.
Broward's own cities came in with a mostly "meh" score, falling right near the middle of the list. Fort Lauderdale, according to the WalletHub study, is at 79th. Pembroke Pines fell at 88th. Only three Florida municipalities racked up higher rankings than the Broward ones: Miami (25); Orlando (69); and St. Petersburg (73).
Many Florida cities fared worse than Broward, which doesn't exactly paint an economically healthy picture of the majority of the state: Tallahassee (81), Tampa (85), Hialeah (90), Port St. Lucie (100), Jacksonville (130), and Cape Coral (137).
No Palm Beach County cities were listed on the round-up.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you'll never miss New Times Broward-Palm Beach's biggest stories.