Welcome!

News Feed Item

U.S. Metro Areas Expected To See Real Economic Growth In 2014

Mayors Release Economic Report During 82nd Winter Meeting in Washington, D.C.

WASHINGTON, Jan. 22, 2014 /PRNewswire-USNewswire/ -- Nearly all (356) of the nation's 363 metropolitan areas are expected to see real economic growth in 2014, unlike in 2013 when 97 metropolitan areas experienced declining economies, according to an economic report released today by The U.S. Conference of Mayors (USCM) at their 82nd Winter Meeting in Washington, D.C., where more than 280 U.S. mayors are gathered to meet with Administration officials, Congressional leaders and top CEOs.

(Logo: http://photos.prnewswire.com/prnh/20110125/MM36443LOGO)

Done in conjunction with IHS Global Insight, the report also shows that nearly all (340) of the metros expect to see real Gross Metropolitan Growth of one percent or higher, compared to only 183 metros seeing the same growth in 2013.

"These numbers are welcome news and prove that our cities and metro areas are finally turning the corner and moving toward steady economic recovery," said USCM President Scott Smith, Mayor of Mesa (AZ).  "Mayors have always known that as cities and their metro areas go, so goes the nation.  The bipartisan budget agreement is an example that Congress can, in fact, work together for the good of hard-working Americans, and we need this spirit of cooperation to continue for the nation's metro areas to thrive."      

Other key findings of the report include:

The National Economy

  • US real GDP growth is forecast to be 2.7% in 2014 and 3.2% in 2015; up from 1.9% in 2013.
  • Exports are forecast to increase 4.6% in 2014, up from 2013's 2.5%; 2015 exports will continue to expand at 5.1% rate in 2015.
  • Growth in consumption will jump to 2.8% compared to only 2.0% in 2013.
  • State and local government sector will finally stop its drag on GDP growth, inching into positive territory with a 0.4% growth in 2014, after a -0.2% contraction in 2013 and -.07% in 2012.
  • The US unemployment rate is forecast to drop to 6.5% in 2014 and fall to 5.9% for 2015.
  • The US unemployment rate will hit 6.0% in early 2015;
  • Payroll employment growth rate will be only 1.7% in 2014, a slight increase from the 1.6% growth in 2013.  Employment growth in 2015 is slated to be 2.0 %.
  • Labor force participation has crashed from a level of  66.1% in 2008 to 63.0%
  • US employment levels will finally regain its January 2008 peak by mid-2014.

US Metro Economies

Gross Metro Product (GMP)

  • Nearly all (356) of the nation's 363 metro areas are projected to experience real (inflation adjusted) economic growth in 2014, up dramatically from 2013 when 97 had declining economies.
  • 69 US metros (19%) are projected to see real economic growth (GMP) of 3.0% or higher in 2014; 226 metros (62%) in 2014 are expected to have real GMP growth of 2.0% or higher.
  • 340 metros (93%) are expected to see real growth of 1.0% or higher, compared to 183 metros in 2013.

Employment

  • Nearly all US metro areas (357) are projected to return to job growth in 2014.
  • Only 17 metros will see job growth of 3.0% or higher; one-third (121) are forecast to see job growth of 2.0% or higher, compared to 77 metros in 2013.
  • 297 metros (82%) have a projected job growth of 1.0% or higher in 2014, compared to 185 metros which saw 1.0% or higher in 2013.
  • 128 metros (35%) are projected to have an unemployment rate of 7.0% or higher for 2014.
  • 148 metros (40%) are projected to have a 2014 unemployment rate of 6.0% or less.

The Mayors' meeting, where the report was released, is slated to span three days with confirmed speakers as follows: 

Wednesday, Jan 22: Commerce Secretary Pritzker, Energy Secretary Moniz (Q &A), Education Secretary Duncan (Q&A), HHS Secretary Sebelius (Q&A), Consumer Financial Protection Bureau Dir. Cordray (Q&A), U.S. Trade Rep. Froman (Q&A), Mexican Ambassador to the U.S. Mora, Citi N.A. CEO William Mills, Philips Lighting President & CEO Bruno Biasiotta, D.C. Mayor Vincent Gray, Baltimore Mayor Stephanie Rawlings-Blake, San Jose Mayor Chuck Reed, Columbus, OH Mayor Michael Coleman, Indianapolis Mayor Greg Ballard, San Francisco Mayor Ed Lee, Green Bay Mayor Jim Schmitt, Denver Mayor Michael Hancock, Orlando Mayor Buddy Dyer, Fresno Mayor Ashley Swearengin, Bridgeport, CT Mayor Bill Finch, Jacksonville Mayor Alvin Brown

Thursday, Jan 23: Labor Secretary Perez, HUD Secretary Donovan (Q&A), Transportation Secretary Foxx, Walmart USA CEO Bill Simon, Long Beach Mayor Bob Foster, Louisville Mayor Greg Fischer, Phoenix Mayor Greg Stanton, Houston Mayor Annise Parker, Tallahassee Mayor John Marks, Dallas Mayor Mike Rawlings, Gary Mayor Karen Freeman-Wilson, Tampa Mayor Bob Buckhorn, San Antonio Mayor Julian Castro

Friday, Jan 24: Homeland Security Secretary Johnson, House Transportation Chair Shuster, Oakland Mayor Jean Quan, Santa Barbara Mayor Helene Schneider, Memphis Mayor A.C. Wharton, Madison Mayor Paul Soglin, Tuscaloosa, AL Mayor Walter Maddox, Lansing Mayor Virg Bernero, Laredo, TX Mayor Raul Salinas, Indianapolis Mayor Greg Ballard, Columbia, SC Mayor Steve Benjamin, Lima, OH Mayor David Berger

All business sessions of the U.S. Conference of Mayors are OPEN to the press unless otherwise indicated (EVENING EVENTS ARE CLOSED). All press MUST register to attend the meeting at http://usmayors.org/82ndWinterMeeting/press_registration.asp.  An AGENDA and list of PRE-REGISTERED MAYORS are available at www.usmayors.org.  On-site registration will also be available with the proper press credentials at the Capital Hilton - 2nd Floor in the Pan American Room during the meeting.

The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are 1,399 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. Like us on Facebook at facebook.com/usmayors, or follow us on Twitter at twitter.com/usmayors.

SOURCE The U.S. Conference of Mayors

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, will posit that disruption is inevitable for c...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buyers...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.