An analysis by Forbes magazine has put South Carolina’s five largest metro areas among cities recovering the fastest from the recession. Number 35 on the the list of the top 100, is our own Columbia South Carolina. Our metro area has always been resilient with it’s stable economy.
Forbes ranked the 100 largest metropolitan statistical areas as defined by the U.S. Office of Management and Budget using unemployment rate, size of regional economy, foreclosures, home prices and sales rates. Forbes then averaged those rankings and came up with its list.
“While there is no foolproof method for resisting recession, a common thread in thriving cities is an economy fed by multiple industries,” Forbes said.
The fastest-recovering region was Omaha, Neb., and the slowest-recovering of the 100 MSAs was Lakeland, Fla. Florida, which has been riddled with foreclosures and plummeting home prices, held six of the bottom 10 spots on the Forbes list.