Valdosta #3! Followed by Albany #4! In poorest cities in the country.
What can we do about that?
Michael B. Sauter, Alexander E.M. Hess and Samuel Weigley, 24/7 Wall St.,
wrote for NBC News 14 October 2012,
America’s richest and poorest cities,
3. Valdosta, Ga.
-
Median household income: $32,446
-
Population: 140,599 (87th lowest)
-
Unemployment rate: 9.2 percent(140th highest)
-
Percent households below poverty line: 27.6 percent (ninth highest)
From 2007 to 2011, the unemployment rate in Valdosta increased by
130 percent, from 4 percent of workers to 9.2 percent. The number of
employed workers declined by more than 6,000 during that time. Those
jobs remaining often pay a lower salary. Last year, nearly 17
percent of the work force was employed in the generally low-paying
retail industry, the sixth highest percentage of all metro areas. In
2007, just 11.3 percent of the labor force worked in retail.
Valdosta, however, has an improving and active housing market. Home
prices rose nearly 12 percent between 2007 and 2011. Despite these
positives, 14.4 percent of housing units were vacant last year,
higher than the national vacancy rate of 13.1 percent. Also, 15.3
percent of homes were worth less than $50,000 versus 8.8 percent
nationwide.
The study is actually for “U.S. metropolitan statistical areas, or MSAs”
and this population is not just for Valdosta, it’s for the
Valdosta MSA,
which includes Brooks, Echols, Lanier, and Lowndes Counties.
Look who’s next on the list:
Continue reading →