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| Beware of the Weak Job Markets |
| Written by Jonathan Smoke | |
| 06.15.2007 | |
Discuss this article on the forums. (0 posts) Continuing the post from June 13, we ran the numbers for job losses (i.e., negative job growth) over one year, comparing 2006 to 2005. Based on job losses being the single largest factor foretelling a decline in home prices, we found our worst performing markets in the country from a jobs perspective.Topping the list were New Orleans and Gulf Port-Biloxi, as their local economies reflect the damage from Katrina in 2005. The rest of the list is an interesting assortment of mostly smaller markets in the Midwest and South. The one characteristic that most of these other markets share is the ill-effect of a downsizing in manufacturing as these local economies struggle to transition from a manufacturing focus to a service focus as a result of globalization trends.  We’re working on some macro analysis of how well job changes correlate with housing market performance, and we’ll share that with you next. 
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