An analysis by Forbes magazine has put South Carolina’s five largest metro areas among cities recovering the fastest from the recession.
Forbes ranked the 100 largest Metropolitan Statistical Areas as defined by the U.S. Office of Management and Budget, using unemployment rate, size of regional economy, foreclosures, home prices and sales rates. Forbes then averaged those rankings and came up with its list.
“While there is no foolproof method for resisting recession, a common thread in thriving cities is an economy fed by multiple industries,” Forbes said.
The Augusta-Aiken and the Columbia MSAs ranked above 50 on the list and Charlotte-Gastonia, Greenville-Mauldin-Easley and Charleston-North Charleston-Summerville ranked in the bottom 50.
The fastest recovering region was in Omaha, Neb., and the slowest recovering of the 100 MSAs was in Lakeland, Fla. Florida, which has been riddled with foreclosures and plummeting home prices, held six of the bottom 10 spots on the Forbes list.
The complete list of cities and MSAs can be found at the Forbes Web site. Here is a list of metro areas in South Carolina: