The National Association of Counties (NACo) County Economies Report is an annual analysis of how the nation’s economy looks on the ground – at the county level.
The report analyzes annual changes across four indicators: economic output (GDP), jobs, unemployment rate, and home prices. This year, NACo also performed a short analysis of wage growth.
While many counties showed signs of recovery, for counties in the northeast region, economic recovery lagged the national recovery.
The northeast region includes Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Vermont. While across the country, about 7% of counties have recovered to pre-recessionary levels across all four economic indicators, in the northeast, only 1% have recovered.
Specifically in terms of home prices, while across the county 2/3 of counties have recovered their home prices, in the northeast, only about 1/3 of counties have recovered to pre-recessionary home prices.
As described by NACo’s Research Director Emilia Istrate,
The recession has been much deeper and much longer in the northeast, but county governments dealing with an economic recovery still must deliver essential services.
Find more information and see your county’s economic profile at the NACo County Explorer.