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November 4, 2008

20 Cities likely to be hit hardest by the financial crisis

 Luckily, none of these communities are in Colorado, but Businessweek ranked these 15 cities as those likely to be hit hardest by our current financial crisis because of their concentration of residents working in the finance, insurance and real estate sectors. Some are obvious like New York City and surounding areas, but others like Sioux Falls, SD or Mountain Brook, AL are not. It points out how the problems of those shaky industries affect so many communities throughout the country.

Moody’s Economy.com projects that New York City and its suburbs will lose 65,000 finance jobs by the middle of 2010. But the turmoil will also be felt in areas that house back office and IT functions for these struggling businesses as well as accountants, lawyers, security, etc.

http://www.businessweek.com/lifestyle/content/sep2008/bw20080925_757510.htm

blog by elephant’s favorite Liz Benson

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