Chattanooga rebounds from recession lows

Chattanooga rebounds from recession lows

September 26th, 2013 by Dave Flessner in Local Regional News

An aerial view of AT&T field and Downtown Chattanooga looking East.

An aerial view of AT&T field and Downtown...

Since its trough at the depths of the Great Recession in 2009, economic output in metropolitan Chattanooga has rebounded 9.8 percent, according to a Brookings Institution study released Wednesday.

Brookings said Chattanooga's growth pace since the recession ended ranks among the top third of America's biggest cities. But unemployment has remained above the U.S. average in Chattanooga because of an influx of workers into the region.

Brookings said employment in Chattanooga has grown by 5.5 percent since the low point for employment during the recent recession in the fall of 2009. But Chattanooga's jobless rate was down only 1.9 percent from its peak, which ranked among the bottom 40 percent of U.S. cities.

The biggest employment gains in Chattanooga have come in health services, education and hospitality jobs. In the past year, Chattanooga employment is still down in mining, government, business services and construction.

Brookings said Chattanooga home prices are up 1.3 percent in the past year.