Just released employment figures show the U.S. economy shed 3.6 million jobs from December 2007 to January 2008, including close to half that figure in the last three months alone. The unemployment rate now stands at 7.6% nationally and, in case you hadn't heard, at over 10% already in several states. And the list is growing.
But fortunately jobs aren't disappearing at the same rate in every real estate market.
As reported by Ajilon Professional Staffing, there are still areas around the country in which the unemployment rate is low and the job outlook relatively strong.
Led by Madison, WI, Ajilon calls them "10 Cities For Job Growth in 2009". They are:
1. Madison, WIÂ Â
2. Washington, D.C. Â
3. Boston, MAÂ Â
4. Richmond, VAÂ Â
5. Milwaukee, WIÂ Â
6. Pittsburgh, PAÂ Â
7. Baltimore, MDÂ Â
8. Seattle, WAÂ Â
9. Houston, TXÂ Â
10. Dallas, TX
Other than the fact that each of the above cities is buffered by industries as varied as healthcare, energy, and technology, there doesn't appear to be any common denominator uniting this group of cities. In Madison, the combination of the University of Wisconsin (a major employer), the U.W. Hospital System, and the university's research arm (The Wisconsin Alumni Research Foundation) all serve as a strong buffer to bolster Madison's local economy. One thing each of these cities do have in common: the housing market is performing at an above-average pace compared to the rest of the nation.
Clearly, if we want to see a U.S. housing market recovery we need to figure out how to create more jobs. Hopefully the stimulus package will pass the Senate tomorrow and we can get the all-important process of restarting our economy underway.
There are now dozens of Madison-based companies focused on biotech, health care and medical-devices that the University of Wisconsin's research arm has brought into the area.
To see the latest inventory of luxury Madison homes, downtown Madison condos and executive Madison homes for sale, visit Lake & City Homes or call (563) BUY-SOLD (563-289-7653) today!
Posted by Jolenta Averill on
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