Forbes.com puts Raleigh on 'recession-proof' list
05/13/2008
Forbes.com has included Raleigh on its list of 10 recession-proof cities in the United States.
The list, culled from the country's 50 largest metropolitan areas, cites the cities for their high job growth, rising home values and low unemployment amid a national economic downturn.
Raleigh ranks fifth on the list.
"Stable home prices and growth across the different sectors of its economy have kept Raleigh strong," Forbes.com says. "In the past 12 months, all industries measured by the U.S. Department of Labor have grown except for the city's small information sector."
Topping the list is Oklahoma City, Okla., followed in order by San Antonio; Austin, Texas; San Jose, Calif.; Raleigh; Salt Lake City; Houston; Seattle; Charlotte; and Dallas/Fort Worth, Texas,
In compiling its rankings, Forbes.com looked at unemployment and expected industrial growth data through February from the U.S. Bureau of Labor Statistics. It also surveyed home-price data from the National Association of Realtors and gross metropolitan product projections from the U.S. Conference of Mayors.
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