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Cities in every state that haven't bounced back from the 2008 recession

GOBankingRates Logo By Cynthia Measom of GOBankingRates | Slide 1 of 51: The 2008 recession — aka the Great Recession — was America’s worst financial decline since the Great Depression. Millions of jobs were lost, countless homes were foreclosed on and many people depleted their life savings in an attempt to stay financially afloat.
Even though it’s been over a decade since the Great Recession hit and ended, some cities in the U.S. are still reeling from its effects. For example, in Illinois, one city suffered an almost 60% decline in home values, which it never recovered from. And one city in California saw an unemployment rate that escalated from 9.7% to 19.6% within a decade.
To discover which cities are still struggling to recover from the Great Recession, GOBankingRates analyzed median home values, unemployment rates, labor force participation rates and median household incomes from 2007, 2009, 2017 and 2019 in cities across the country. To offer some perspective, here are the U.S. averages for the most relevant statistics in the study:

Change in median home value from 2007-2019: 17.12%
Change in median home value from 2009-2019: 37.35%
Change in unemployment rate from 2009-2017: -0.6 percentage points
Change in labor force participation rate from 2009-2017: -1.6 percentage points
Change in median household income from 2007-2017: 15.29%
Change in median household income from 2009-2017: 12.11%

By looking over the data, you might be able to spot certain trends and learn the warning signs of another recession.
Last updated: Dec. 31, 2019

Some places are still struggling to leave the downturn behind

The 2008 recession — aka the Great Recession — was America’s worst financial decline since the Great Depression. Millions of jobs were lost, countless homes were foreclosed on and many people depleted their life savings in an attempt to stay financially afloat.

Even though it’s been over a decade since the Great Recession hit and ended, some cities in the U.S. are still reeling from its effects. For example, in Illinois, one city suffered an almost 60% decline in home values, which it never recovered from. And one city in California saw an unemployment rate that escalated from 9.7% to 19.6% within a decade.

To discover which cities are still struggling to recover from the Great Recession, GOBankingRates analyzed median home values, unemployment rates, labor force participation rates and median household incomes from 2007, 2009, 2017 and 2019 in cities across the country. To offer some perspective, here are the U.S. averages for the most relevant statistics in the study:

  • Change in median home value from 2007-2019: 17.12%
  • Change in median home value from 2009-2019: 37.35%
  • Change in unemployment rate from 2009-2017: -0.6 percentage points
  • Change in labor force participation rate from 2009-2017: -1.6 percentage points
  • Change in median household income from 2007-2017: 15.29%
  • Change in median household income from 2009-2017: 12.11%

By looking over the data, you might be able to spot certain trends and learn the warning signs of another recession. Click ahead to see the cities in each state that haven't recovered from the Great Recession.

Last updated: Dec. 31, 2019

© DenisTangneyJr / Getty Images/iStockphoto
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