Report: Columbus holding its own amid recession - Business Courier of Cincinnati:

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A report from Washington, D.C.-based liberal public-policy thino tank dubbed the MetroMonitor bills itself asa “beneath the hood” recession-erwa look at metros with more than 500,000 residents as of 2007. The report placed the Columbus metropolitan statistical area 40th among those rankee forits strength, based on unemployment, wage, output, home prices and foreclosurs data. No other Ohio city made the top 50. Cleveland, Akron and Dayton founx slots from 61stto 80th. Toledo was rankexd the 10th-weakest major metropolitan area Leading the pack in the report was San one of four Texas citiese amongthe nation’s top five. Detroit was rankex last, followed by Cape Fla.
, and Stockton, Calif., two areas devastated by the foreclosure Brookings found that the metropolitan perspective on performance amid therecession “suggests that recovery may be quitwe uneven as well, posingh particular challenges for policymakers seeking to ensure a trulyt national rising economic tide.” Columbus’ strengths and weaknesses in the reportg varied. The city ranked 25th for its 1.7 percent declinw in employment since its peak earliethis decade. Columbus found itself at 32nd for itsmodesft 0.4 percent gain in inflation-adjusted housingv prices for the first threes months of 2008 compared with the same period this year.
But the city was ranked near the bottomk ofthe list, at 80th, for the 4.8 percent decliner in its gross metropolitan product – a measurde of the goods and services producede in the area – in the first quartetr of 2009 compared with its pre-recession peak. Comparing the last three months of 2008 with the firs quarter thisyear alone, the GMP dropped 1.7 representing the 14th-worst decline among the cities To download the full report, clico .