Brookings released their quarterly Mountain Monitor report covering "the six-state Mountain region’s 10 major metropolitan areas that lie within the 100 most populous nationally." According to this report, Phoenix-Mesa-Glendale, AZ area's employment improved the most since reaching their relative trough. Las Vegas, NV, Boise City, ID, and Albuquerque, NM, have yet to break out of their relative troughs--in other words, employment is still declining. It is uncertain how much further employment will decline before these three areas see employment gains.
The Top 100 Metropolitan areas show a slight improvement from the aggregate trough, supporting the recent Bureau of Labor Statistics positive jobs reports. The Bureau of Labor Statistics reported that over the past five months 671,000 jobs have been created. We expect those cities currently in their respective troughs to gain traction as the national economy continues to improve.
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