Only 2 percent of US counties have recovered from Great Recession. Why?

1/13/2015

With the lowest level of unemployment since 2008, President Obama has recently been vocal in championing the recovery of the US economy. “American resurgence is real,” he says. “Don’t let anybody tell you otherwise.”

However, a new study  by the National Association of Counties shows that only 65 out of 3,069 counties in the US have fully recovered from the 2007-08 recession. That is only 2 percent of counties.

When assessing each county the study looks at four categories: unemployment rates, job growth, GDP and housing prices. Once a country has reached pre-recession rates it is considered “recovered” in that category, and to be fully recovered the county must have reached pre-recession rates in all four categories. READ MORE.

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