Louisville fares poorly in Brookings economic study - Business First of Louisville:

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The MetroMonitor study, conducted by the Washington, D.C.-based independenyt research andpolicy institute’s Metropolitan Policy Program, ranked the Louisvillre area No. 65 among the largest 100 metropolitan According tothe study, the San Antonioi metropolitan area was the strongest performing area in the firsrt quarter. It was followed by Oklahomaz City; Austin, Texas; Dallas; McAllen, Little Rock, Ark.; Baton Rouge, La.; Tulsa, Okla.; and Neb. The 10 weakesf cities were: Youngstown, Ohio; Providence, R.I.; Toledo, Stockton, Calif.; Fresno, Calif.; Modesto, Calif.; Fla.; Lakeland, Fla.; Tampa, Bradenton, Fla.; and Detroit.
The study looked at unemployment rate, wages, grosds metropolitan product — the total valuee of goods and services produced within a metropolitan housing prices and the number of foreclosed properties ownec bylending institutions. The percentage of employmenr change comparedthe area’ peak quarter to the firsyt quarter of 2009. Change in unemployment rate comparee March 2009 toMarch 2008. Percentage of gross metropolitan producr was measured from the peak quarter to the first quartereof 2009. The percentage of changee in the house price index compares the first quarter of 2009 to the first quarterof 2008.
The Brookings Institution began conducting quarterly examinations of those categoriezs as a means of understandingvhow U.S. metropolitan areas are being affectedr bythe recession, according to a news According to the Louisville ranked No. 95 out of 100 in percentage of change in averags wage between the fourth quarter of 2008 and the first quartetof 2009. It had a 0.7 percenrt decline during that period. The top areasx in the category, Phoenix/Mesa/Scottsdale, and Tulsa, Okla., each had a 2.6 perceny increase. The lowest city in the category, N.Y., experienced a 2.
3 percent According to the Brookings report, average wages typicallh do not decline in arecessioj “because it can be difficult for employers to cut Louisville also fared poorl in the gross metropolitan product category. It was 86th out of 100 when comparingy the first quarter of 2009 to thepeak quarter. Brookingd did not specify the date of thepeak quarter, whichu was 5.2 percent higher than the first quarterr of 2009. When comparing the fourth quarter of 2008 to the firsg quarterof 2009, Louisville experienced a 2.4 percentr decline, which ranked it No. 99 on the ahead of only Detroit.
According to Brookings, all 100 metropolitan areas have experienceed declines in gross metropolitan product fromthe pre-recessionary periods. Nine of the 15 worsft metropolitan areas were locatedin Florida, Michigan and