Recession Proof States

Though some states were literally on the verge of bankruptcy during the recession, there were others that were able to thrive during this time of economic uncertainty. Lets Take Oklahoma for example. It has one of the country's strongest housing markets and employment actually fell in this state while rising in others. With solid growth in 3 key areas, agriculture, manufacturing and energy, Oklahoma City was one of the largest metropolitan areas that were able to ride out the recession.

Now let's look at Texas. Six cities in the state of Texas had solid employment figures. Those cities include Austin, the Dallas Fort Worth area, El Paso, San Antonio, Houston and McAllen. Austin's unemployment dropped from 3.8% to 3.6% while San Antonio's went from 4.3% to 4%. So while the rest of the country was experiencing a rise in unemployment, these cities managed to decrease the level of unemployment. These cities also have low home prices which make them more affordable to the majority of the population.

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North Carolina also had a few cities that were able to stay afloat during the economic crisis. Those cities include Charlotte, Gastonia and Concord. Though Charlotte had a rise in unemployment, the economy as a whole still stayed very strong. Home prices grew and industries such as hospitality, transportation and health kept the economy moving.

Last but not least let's talk about Washington. Seattle in particular is home of some of the biggest companies in America. They include Microsoft, Amazon, Starbucks and Costco just to name a few. This has helped unemployment to fall from 4.5% to 4.3%. Even better is the fact that home prices are very affordable in the area. Of the top metropolitan areas in the United States, Seattle had the strongest growth in manufacturing.

These are just a few of the states that have been able to stay strong while the economy was struggling. And truthfully, there are many more. So in essence, things might not be as bad as the news would have you to believe.

Recession Proof States

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Weathering United States Recession - 2009

What is Recession, the recession is known as the state of the decline in the economy sector; a widespread decline in employment, in the GDP and trade lasting from six months to a year. Current economic environment in the USA is facing severe period of the recession. We can easily note employment decline in certain areas including housing and industries, as losses in these areas are widespread. Many people are searching reliable ways to lower the financial risks in this difficult period of the recession. If you want to minimize the effects of current recession period you should take some effective steps to make the current situation risk-free for yourself.

First you need to cut back unnecessary spending during the recession that will leave some disposable income for you. If you are paying some debts, then you need to reduce the amount you pay each month to your finances. It will take off your strain to some extent. You can do it easily by consolidating all your debts into one mortgage repayment along with low interest rate. Various people end up of paying huge amount on their bills like electricity and gas bills, mobile bills, broadband bills, landline bills and also insurance premiums in every month.

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You should get surety that you are not paying more than your needs on these bills, as you can seek assistance from the comparison sites to see whether you can move to cheaper deal or not. In this way, you can save a considerable amount of money each month. Any amount that you have saved on your monthly outgoing, you can place into your saving account.

This amount can prove handy at the time of emergency when the period of United States recession is in full swing. You should know that currently interest rates are on the down so you need to check credit cards and mortgage rates to get surety that you have almost competitive deal. If not, you need to switch to more competitive finance provider. Make these changes in your life as these measures help you to minimize the effects of the recession when it will come to your finances.

Weathering United States Recession - 2009

Is the United States in a Recession?

For the answer to this oft asked question, we need to first define what a recession is. Economists define a recession as a contraction in a business cycle or a slowdown over a period of time in which there is a decrease in economic activity. So, according to the economic definition the question remains: Is the United States in a recession?

The answer is no. Technically, it is not but we are not far removed from it and it is very possible to slip back into it. Here are some of the great concerns that confront us economically:

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Jobs. As of the writing of this article, the unemployment rate is in the double digits and the prospects are not too bright. This is one of the great concerns for the economy. Is the United States in a recession? The answer is debatable but one thing is for sure and that is if you consider the job outlook then we are certainly in a recession. Let us take a look at one more big concern for the economy overall.

Budget deficit. Can you tell me how many zeroes are in one trillion dollars? Well, you will need to know that if you plan on writing out the amount of debt the United States are in. Yes, the mounting debt is nothing short of a crisis. The reason why this is such a concern to the economy overall is that interest continues to accrue and it is spiraling out of control more and more each day. Is the United States in a recession? Well, if the budget deficit is any indication then yes we certainly are.

In conclusion, there are a number of indicators that are used to measure the state of the economy and by most expert opinion we are not in a recession but we are not far away from it either.

Is the United States in a Recession?

Is the United States in a Recession?