Buffalo-Niagara Falls, NY
Overall rank: 21
Buffalo has a diverse employment base, which includes manufacturing, education, health care, banking, and debt collection—a lucrative industry in this economic climate. Employment in Buffalo peaked in the third quarter of last year. Gross metropolitan product in the second quarter was down 4.1% from the peak in the third quarter of 2007. Home prices grew 3.7% in the second quarter compared with the same period a year earlier. And the unemployment rate in June was 8.9%, up 3.3 points from a year earlier. (Please see below for the various criteria used by the Brookings Institution to determine the overall ranking.)
Job growth (since peak) rank: 31
Gross Metro Product (since peak) rank: 48
Unemployment change (year over year) rank: 39
Home price change (year over year) rank: 4
