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MetroMonitor: Springfield, MA

Tracking Economic Recovery in the Springfield, MA Metropolitan Area

Fourth Quarter, 2011 This profile tracks recent economic performance in the Springfield metropolitan area compared to Americas 100 largest metro areas and the nation through the fourth quarter of 2011. For an analysis of economic conditions in all 100 metro areas, please see MetroMonitor: Tracking Economic Recession and Recovery in Americas 100 Largest Metropolitan Areas. This and other metropolitan profiles are accessible via interactive maps at www.brookings.edu/metromonitor. Employment Change in employment from peak (2008Q1) Change in employment from trough (2009Q4) One-quarter change in employment Unemployment Unemployment rate Four-year percentage point change in unemployment rate Two-year percentage point change in unemployment rate Gross metropolitan product (GMP) Change in GMP from peak (2008Q1) Change in GMP from trough (2009Q2) One-quarter change in GMP Housing prices Change in housing prices from peak (2006Q4) Change in housing prices from trough (2011Q3) One-year change in housing prices One-quarter change in housing prices Springfield -0.6 % 3.1 % 0.0 % 7.3 % 2.6 points -1.7 points 2.3 % 5.7 % 0.5 % -20.6 % 0.6 % -6.0 % 0.6 % Rank* 9 22 70 37 27 31 43 48 74 44 75 42 52 100-metro average -4.7 % 1.5 % 0.3 % 8.3 % 3.6 points -1.3 points 2.0 % 6.0 % 0.7 % -29.5 % 1.1 % -7.0 % 0.7 % U.S. average -4.4 % 1.6 % 0.2 % 8.3 % 3.5 points -1.4 points 1.4 % 6.6 % 0.8 % -25.6 % 1.4 % -6.7 % 0.7 %

* For all indicators, a rank of 1 signifies the strongest-performing metro while a rank of 100 signifies the weakest-performing metro.

Quarterly Employment in Four Recessions and Recoveries

Springfield; MA 105 104 103 Jobs (100 = initial quarter of each national recession) 102 101 100 99 98 97 96 95 National recessions 94 93 92 0 1 2 1981 1990 2001 2007 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Number of quarters since the start of each national recession

Dots indicate end dates of each national recession