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
910Telecom exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and exchanges.
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, discussed how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a practic...
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
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...