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Map of America’s Recession February 12, 2008

Posted by Daniel Downs in economics, news, political economy.
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The appetite wetting map below is the creation of The Economist using statistical sources of the US Department of Labor and Standard & Poor’s. The map color-codes both the rate of unemployment and changes on home prices. From the top down, the legend reads: less than 4%, 4-4.9%, and above 5% for the unemployment rate and for housing price changes it reads zero or positive, 1-10% fall, and lastly more than 10% fall. With the bursting of the housing bubble, a growing surplus of new homes, and foreclosures of old ones, housing pricing are decreasing along with mortgage based investments. Unfortunately, gas prices are not budging much, at least were I live. While gas prices remain high, unemployment is increasing, which a key indicator of recession. One of the positive thing demonstrated by the map is that recession does not abide by egalitarian principles. Should liberals try to change that?

Read the article, The Geography of Recession, to which the map is linked at The Economist.

See also my last post Are we in a recession?.

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