U.S. mayors: Metro economies will grow in ’16
BUSINESS RECORD STAFF Jan 21, 2016 | 8:32 pm
1 min read time
211 wordsAll Latest News, Economic DevelopmentThe U.S. Conference of Mayors projects that nearly all of the nation’s 381 metro economies will grow in 2016, even after adjusting figures for inflation.
The organization found that 363 of the metropolitan areas will experience economic growth this year, up from 331 last year.
The report projects Des Moines-West Des Moines job growth at 2.1 percent, down from 2.6 percent in 2015, ranking 76th. The metro area is expect to rank 80th in real growth of gross metropolitan product at 3 percent.
In other key findings, the group reported:
- 96 metros are projected to see real economic growth of 3 percent or more, with 233 growing 2 percent or more. The number expected to grow by 1 percent or more, 337, is up from 277 in 2015.
- At the end of 2015, 232 metropolitan areas had more jobs than they did prior to the most recent recession. This year, 21 metros are expected to regain the jobs they lost in the most recent recession, leaving 128 still below their pre-recession level. Des Moines returned to its peak in the third quarter of 2012, according to the report.
- The vast majority, 344, will see job growth this year, but only 17 will grow by 3 percent or more.
Read the full report.
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