Study Says Lubbock Is the 7th Most Recession-Proof City as Coronavirus Fears Spread
Business Insider has ranked the top 25 cities in the US based on how well the city would survive if the coronavirus caused a nationwide recession. Lubbock is 7th on the list, with seven other Texas cities making the top 25.
The list is culled from a SmartAsset report. According to Business Insider:
[The report] ranked each city across 3 different metrics in each of these categories for a total of 9 metrics, then averaged the metric rankings of each category, giving each an equal weighting.
It then determined the final ranking by averaging each city's score in the 3 categories. Those with the highest ranking (close to 100) are most recession-resistant, while those with the lowest average ranking (close to 0) are the least.
Lubbock scored so well because "it ranks 29th overall for employment, 59th overall for housing and fourth overall for social assistance. The city has a consistently strong workforce, with the eight-lowest 2018 unemployment rate and the 14th-lowest increase in unemployment rate during the Great Recession – at 2.8 percent and rising by only 1.2 percent, respectively."
For the entire report, click here.