U.S. State and Regional Economic Impact of the 2008/2009 Recession
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This paper identifies the states that suffered the largest job losses and the states whose
employment levels suffered the least during the 2008/2009 recession. State-by-state performance
varied widely during this downturn, with Nevada having the largest percentage job
loss, a drop in employment of 13.11 percent of its December 2007 employment level. At the
other extreme North Dakota had an employment gain of 1.24 percent of its December 2007
employment level. In addition, this paper also provides insight into why some states fared so
poorly and other states suffered so little during this downturn. The results suggest strong regional
differences between the states, with the states in the New England Census Region
showing weaker relative job performance and states in the Southwest, Rocky Mountain, and
Far West Census Regions showing stronger job growth.