MinnPost: U.S. Cities Still Struggling, but it Doesn’t Seem so Dire in Minneapolis
The economy is improving — yes, Virginia, an increase in jobs, a rising stock market and brisker housing sales all betoken recovery — but American cities are still staggering in the aftermath of the Great Recession.
That's the gist of "America's Big Cities in Volatile Times," a recently released report from the Pew Charitable Trusts, whose analysts assessed the fiscal health of the 30 cities that dominate the nation's most heavily populated metropolitan areas. Why care about them? First, they generate nearly half (49 percent) of U.S. Gross Domestic Product, and second, 10 percent of all citizens live in those 30 urban agglomerations.
More important, as the dominant city of the 15th most-populous metro, Minneapolis is a charter member of the group. And Pew says that it is one of 21 cities whose revenues hadn't recovered to pre-recession highs by 2011.
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