
Fellow Seattleites, you may feel discouraged with the current economic times and may find it a challenge to find good work, but rest assured, our city is still not included in the list of 10 worst cities to find a job.
The Great Recession, as its come to be known was caused by irresponsible lenders and massive amounts of debt but now, falling housing prices and staggering unemployment rates keep these 10 cities from recovering.
Unemployment Rate
|
1. Merced, Calif. |
16.9 |
|
2. Fresno, Calif. |
15.7 |
|
3. Modesto, Calif. |
15.5 |
|
4. Stockton, Calif. |
15.5 |
|
5. Visalia-Porterville, Calif. |
15 |
|
6. Atlantic City-Hammonton, N.J. |
12.4 |
|
7. Bakersfield-Delano, Calif. |
13.4 |
|
8. Hickory-Lenoir-Morganton, N.C. |
11.7 |
|
9. Riverside-San Bernardino-Ontario, Calif. |
12.5 |
|
10. Brownsville-Harlingen, Texas |
11.2 |
Note that of the 10 metro areas listed above, seven are in the state of California alone. There is a direct correlation between sunny and hot weather states and high unemployment rates. Why? Because the single most influential factor to high unemployment rates in a given region is its housing markets. California, along with other hot states like Arizona, Nevada, Florida, and Texas have suffered from continuously falling housing prices. During the housing boom, these regions saw the housing market drastically increase. However, once the bubble burst, it became clear that people were purchasing homes beyond their means in sun belt states, forcing families to foreclose and vacate their homes.
Now, these individuals are left with high mortgage payments and many face foreclosure issues in regions that greatly lack job opportunities.

