Business

Regional Level
by Milota Sidorova

Although the whole country is generally sinking in the recession, there have been counties doing so far, better or worse. Right now, the average number, the modest quote will be considered worthless and we’ll focus on some specific counties. Some of them feel the crisis worse – as expected and the gains are still beyond the horizon. The spoil can appear at any economic area – Wake County, N.C. and Lake County, Fla. Did well from 2000-2008. They both were considered as the nation’s 100 fastest growing regions. The recession however has torn their ways apart. According analyst Economic Stress Index, based on county’s unemployment, foreclosures ! and bankruptcy rates was measuring the progress or the recession of the counties. Generally, most of previously blooming areas were doing worse than national mean. Those who managed to keep the Stress Index on acceptable level referred the success to diversified economy, research, technology, industry and business leaders. Moreover, it’s for county’s sake if it lowers the biggest investments and increase number of smaller ones. During the time of crisis it is more likely to survive. Loosing one additional source is far less than to loose the key one. Due this step Wake county managed its unemployment rate of 8.3 in September. The national average topped 9.8 and the state got 10.8 percent. Lake county did a bit worse, while its Stress index reached 17.23 the same month. Two years ago, it was only 6.6. The Rockwall County that was previously the eight-fastest growing county maintained the score on 10.41. The initial number was 6.9. Some counties react by changin! g their traditional economic focus. Dallas County of Iowa stat! e was a rural and agricultural based region about a decade ago. The new leaders moved towards services. Today, however, about one fifth of the jobs have been created by financial services and insurance industry. The question remains whether the progress with non creating industries is the good one, especially in the times when everything that doesn’t have a real back-up is considered volatile and in extreme worthless. I mean, man can’t eat the money

related story (sgx15778): http://news.yahoo.com/s/ap/20091101/ap_on_bi_ge/us_stress_ma...

by Milota Sidorova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 3:36 PM