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
DXWorldEXPO LLC announced today that Ed Featherston has been named the "Tech Chair" of "FinTechEXPO - New York Blockchain Event" of CloudEXPO's 10-Year Anniversary Event which will take place on November 12-13, 2018 in New York City. CloudEXPO | DXWorldEXPO New York will present keynotes, general sessions, and more than 20 blockchain sessions by leading FinTech experts.
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
"Peak 10 is a national cloud data center solutions managed services provider, and part of that is disaster recovery. We see a growing trend in the industry where companies are coming to us looking for assistance in their DR strategy," stated Andrew Cole, Director of Solutions Engineering at Peak 10, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The now mainstream platform changes stemming from the first Internet boom brought many changes but didn’t really change the basic relationship between servers and the applications running on them. In fact, that was sort of the point. In his session at 18th Cloud Expo, Gordon Haff, senior cloud strategy marketing and evangelism manager at Red Hat, will discuss how today’s workloads require a new model and a new platform for development and execution. The platform must handle a wide range of rec...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of ...
Rodrigo Coutinho is part of OutSystems' founders' team and currently the Head of Product Design. He provides a cross-functional role where he supports Product Management in defining the positioning and direction of the Agile Platform, while at the same time promoting model-based development and new techniques to deliver applications in the cloud.
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and Bi...
Digital Initiatives create new ways of conducting business, which drive the need for increasingly advanced security and regulatory compliance challenges with exponentially more damaging consequences. In the BMC and Forbes Insights Survey in 2016, 97% of executives said they expect a rise in data breach attempts in the next 12 months. Sixty percent said operations and security teams have only a general understanding of each other’s requirements, resulting in a “SecOps gap” leaving organizations u...
Cell networks have the advantage of long-range communications, reaching an estimated 90% of the world. But cell networks such as 2G, 3G and LTE consume lots of power and were designed for connecting people. They are not optimized for low- or battery-powered devices or for IoT applications with infrequently transmitted data. Cell IoT modules that support narrow-band IoT and 4G cell networks will enable cell connectivity, device management, and app enablement for low-power wide-area network IoT. B...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...