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Date: Jun 18, 2009
Title: OKC Again Ranked as "Recession-Proof"
Oklahoma City ranked second just behind San Antonio
Adam's Oklahoma City Blog
By Adam Knapp, About.com Guide to Oklahoma City since 2005
OKC Again Ranked as "Recession Proof"
Thursday June 18, 2009
Though it's certainly no comfort to those suffering through unemployment and other financial troubles, apparently for Oklahoma City it really is a case of "it could be worse." Last year, Forbes.com ranked OKC as the most recession-proof city in the country, and now, a recently-released Brookings Institution analysis offers similar praise for the metro.
Oklahoma City ranked second in the MetroMonitor report, a comprehensive look at financial indicators such as unemployment, wages, gross metropolitan product, housing prices and foreclosure rates. Employment in the metro dropped just 0.2 percent according to the analysis, the smallest decline of any city, and housing prices increased 2.8 percent while many metro areas saw significant declines.
San Antonio took the top spot in the Brookings Institution report while Tulsa ranked ninth. Detroit was named the weakest metropolitan area, and 14 of the bottom 20 cities are located in California and Florida.