Business First of Buffalo
We reported earlier this week that 99 of the nation’s 100 biggest labor markets -- Buffalo included -- lost jobs in 2009.
That’s bad enough, but now it’s time to add to the somber news.
We’ve taken a broader view, breaking down the last five years of employment data for America’s 67 biggest metros, the places with at least 750,000 residents. It turns out that nearly two-thirds of these major markets -- Buffalo again included -- have fewer jobs now than they did in 2004.
Detroit has suffered the worst -- no surprise, given the woes besetting domestic automakers. The Detroit area has lost 343,700 jobs during the past five years.
Los Angeles and Chicago have also suffered six-figure declines. A total of 200,700 jobs have slipped away from L.A. since 2004, and 173,300 have vanished from the Chicago area.
Detroit also ranks the worst in terms of percentages. One-sixth of Detroit’s jobs -- 16.5 percent -- have disappeared in the past half-decade. New Orleans, which was battered by Hurricanes Katrina and Rita early in the study period, has suffered a five-year loss of 14.9 percent.
Buffalo’s five-year declines, by the way, work out to 14,200 jobs, or 2.5 percent.
Texas has weathered this shaky period better than the rest of the country, no matter which measure you use. Houston has enjoyed the best five-year gain in raw terms (206,600 jobs), while Austin is first in the percentage column (14.5 percent).
That’s bad enough, but now it’s time to add to the somber news.
We’ve taken a broader view, breaking down the last five years of employment data for America’s 67 biggest metros, the places with at least 750,000 residents. It turns out that nearly two-thirds of these major markets -- Buffalo again included -- have fewer jobs now than they did in 2004.
Detroit has suffered the worst -- no surprise, given the woes besetting domestic automakers. The Detroit area has lost 343,700 jobs during the past five years.
Los Angeles and Chicago have also suffered six-figure declines. A total of 200,700 jobs have slipped away from L.A. since 2004, and 173,300 have vanished from the Chicago area.
Detroit also ranks the worst in terms of percentages. One-sixth of Detroit’s jobs -- 16.5 percent -- have disappeared in the past half-decade. New Orleans, which was battered by Hurricanes Katrina and Rita early in the study period, has suffered a five-year loss of 14.9 percent.
Buffalo’s five-year declines, by the way, work out to 14,200 jobs, or 2.5 percent.
Texas has weathered this shaky period better than the rest of the country, no matter which measure you use. Houston has enjoyed the best five-year gain in raw terms (206,600 jobs), while Austin is first in the percentage column (14.5 percent).
Labor market Detroit
Full name Detroit-Warren-Livonia, MI
Jobs (Dec. 2004) 2,081,500
Jobs (Dec. 2005) 2,068,600
Jobs (Dec. 2006) 2,009,200
Jobs (Dec. 2007) 1,972,800
Jobs (Dec. 2008) 1,852,300
Jobs (Dec. 2009) 1,737,800
Raw change (2004-09) -343,700
Rank (of 67 major markets) 67
Percent change (2004-09) -16.5%
Rank (of 67 major markets) 67
Raw change (2008-09) -114,500
Rank (of 67 major markets) 64
Percent change (2008-09) -6.2%
Rank (of 67 major markets) 66
Full name Detroit-Warren-Livonia, MI
Jobs (Dec. 2004) 2,081,500
Jobs (Dec. 2005) 2,068,600
Jobs (Dec. 2006) 2,009,200
Jobs (Dec. 2007) 1,972,800
Jobs (Dec. 2008) 1,852,300
Jobs (Dec. 2009) 1,737,800
Raw change (2004-09) -343,700
Rank (of 67 major markets) 67
Percent change (2004-09) -16.5%
Rank (of 67 major markets) 67
Raw change (2008-09) -114,500
Rank (of 67 major markets) 64
Percent change (2008-09) -6.2%
Rank (of 67 major markets) 66
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