Credit Disparity Tells Tale of Two Recoveries

Columbus, Indiana, and Casper, Wyoming top employment list

(NEWSER) - Recession—that's a big-city thing, right? Several mid-size cities around the US are making an argument for their economic superiority, boasting job growth higher than the 1.5% national average in 2011. You may not know these cities well, but the Christian Science Monitor recommends them:

1. Columbus, Indiana: No, not Ohio's Columbus: Indiana's version had 10% growth from 2009 to 2010, making it the best economic rebounder during the Great Recession. Jobs are up 6.4%.

But most remain upbeat about their future: Pew survey

(NEWSER) - The economy is doing a number on those aged 18 to 34, according to a new survey from the Pew Research Center :

• Half say they have taken a job they didn't want.
• More than a third have gone back to school because of the job market.
• Nearly a quarter have taken unpaid work to gain experience.
• About a quarter have moved back in with the folks.
• More than 1 in 5 have postponed having a baby, and about the same number have put off getting married.

...according to economists, who share their forecasts with WaPo

(NEWSER) - We know the "what": The payroll tax cut is set to expire within days, meaning changes to jobless benefits and doctors who treat Medicare patients will kick in, and the average American will miss out on $40 a paycheck . The Washington Post explores the "what does it mean" side of things, discussing the consequences with economists. Should the policies be extended, about $140 billion would get pushed into the economy. In coming up with their calculations, economists have to make some assumptions about what Americans would do with that $140 billion, but the Post reports that growth would likely slow by 1% to 1.5%, and between 500,000 and 750,000 new jobs that would have been created won't be. More»

Reeling city puts almost all public assets up for sale

(NEWSER) - Pontiac, Michigan, is having a fire sale to raise desperately needed money. Up for sale is city hall, the police station, the library, cemeteries, golf courses, and on and on—just about every public asset, reports the Detroit Free Press . Pontiac has slashed its budget from $58 million to $38 million since an emergency planner took over in 2009, but it still has a $12 million shortfall. More»

Construction, manufacturing particularly hit hard

(NEWSER) - Only 7% of people who lost their jobs since the financial crisis of 2008 have returned to jobs as good as or better than the ones they used to have, reports the New York Times . Most people who have found new work say it is less lucrative, and 15% say that reduction has been "dramatic" and most likely permanent, according to a new study released today by the John J. Heldrich Center for Workforce Development at Rutgers. “The news is strikingly bad,” said a professor of public policy and political science, adding that the numbers represent “a tremendous impression of dislocation and pain and wasted talent.” More»