Regions and Recession

Though the current recession is global in scope, regional variation in its intensity is pronounced. Excellent articles and maps in the Economist (America’s Regional Recession, 7 Feb 2008) and the New York Times (Geography of a Recession and Job Losses Show Breadth of Recession, 3 Mar 2009) have brought some public attention to this. Both pieces are accompanied by maps of the United States that plot BLS Local Area Unemployment data. The two maps are a year apart, so the Times map displays more severe and widespread joblessness.

The intensity of the housing crisis also varied regionally, and for awhile home price movements and unemployment rates were related in an understandable way. California is a tragic case study where the recession began soon after its housing bubble ended. Yet, the spatial correlation of unemployment and home price declines is disappearing. (Charlotte recorded little home price movement, but unemployment in that metro area is measured at 11.7%. Phoenix has seen a collapse in home prices but not in employment.) Now the geography of the recession is becoming a more complicated story.

Since mapping out the BLS data seems to be in vogue, Temiandu Kuera will contribute 19 months of data combined into one video.