NEWS FLASH – According to today’s Bulletin Bend is “recession-proof”!
On page A2 we find this interesting headline: “Are there really any areas that are recession-proof? One expert says yes – and Bend is on his list,” (from the AP).
The article continues:
Using data from the Bureau of Labor Statistics, [Mark] Hovind, president of JobBait.com, compared job expansion in a number of key industries and work-force growth in various metropolitan areas. He came up with a list of about two-dozen areas where jobs outpaced the work force during the recessions of 1990 and 2001, and in the past year, and figured they’d likely fare well in another downturn…
Among the metropolitan areas making his list were Prescott, Ariz.; Fayetteville, Ark.; Bakersfield, Calif.; Grand Junction, Colo.; Bend, Ore.; Valdosta, Ga.; and Morgantown, W.Va
I find it more than a little curious that Hovind decided to use data nearly a decade out-of-date for his research rather than the most recent available.
Because according to the most recent “data from the Bureau of Labor Statistics,” out of all of the 369 metropolitan areas on record, only 3 have seen their unemployment rate grow faster over the past year than that right here in Bend.
You read it right: in terms of job losses, Bend is in the top 1% worst markets in the country.
So riddle me this, Mr. Hovind: how does that make us recession-proof?