Rolling recovery reaches New York, L.A.

[sabra]

Source: MSNBC

63 percent of metro areas show gains in msnbc.com's Adversity Index

The recovery has finally begun in the nation's two largest metro areas, New York and Los Angeles, according to the latest Adversity Index data from Moody's Economy.com and msnbc.com.

Besides New York and Los Angeles, other additions to the economic recovery room include Oakland; Phoenix, Flagstaff and Tucson, Ariz.; Portland, Ore.; Yakima, Wash.; Shreveport, La.; New Haven, Conn.; Albany, N.Y.; Fairbanks, Alaska; Green Bay, Wis.; Knoxville, Tenn.; and Winston-Salem, N.C. The assessments are based on data from March.

Of the nation's 384 metro areas, 240 or 63 percent are now listed as in "recovery," the second-highest category in the Adversity Index, up from 205 in February. Another 143 areas were listed in a "moderating recession," meaning the decline continues, but not so fast as earlier.

Only one area has made it into the highest category, expansion: the area of Jacksonville, N.C., around Marine Corps Base Camp Lejeune. No metro area is still in a full-bore recession, the lowest category in the index, which tracks states and metro areas based on employment, industrial production, housing starts and home prices.

Although 240 metro areas are in recovery, that doesn't mean they are "recovered," with an economy above where it was at the beginning of the recession. But they are starting to dig their way out of the hole.

Read more: http://www.msnbc.msn.com/id/37326964/ns/business-eye_on_the_economy/

[closeupready]

1. Good.

n/t

[proudohioan]

2. The interactive map at link is pretty cool. n/t

[ixion]

3. You can't 'recover' when the problem has not been addressed

you can only pretend to recover, but in reality, our economy is a Dead Man Walking.