So take the top 50 metropolitan areas in the USA, with over 1 million people. Now rank them by their unemployment rates, the lowest rate #1 the highest rate last. Where do you think Cleveland ranks? #35? #39? #49? Try #16.
The unemployment rate, at 8.4% is way too high. But the local economy is doing RELATIVELY well. With lots of construction, movies being filmed here and companies hiring, the local economy would be booming if the national economy wasn’t so horrible.
You probably only see Cleveland on the top of negative lists like poverty or misery. That’s what gets printed cause that’s what sells. But the Cleveland economy is very quietly doing OK during this weak economy. Let’s hope this is a sign of very good things to come.
Here’s the full list from the Bureau of Labor Statistics.