Alexandria is among the 25 most recession-resistant cities in the United States, according to a new study by SmartAsset.
SmartAsset analyzed employment, housing and social assistance factors in formulating its rankings. Specifically:
"Our employment category factors in current unemployment rate, change in unemployment rate during the Great Recession from 2007 through 2010 and the current labor force participation rate. Our housing category factors in housing costs as a percentage of income, change in home value during the Great Recession from 2007 through 2010 and mortgage delinquency rate. Our social assistance category factors in the percentage of the population relying on public assistance, average annual amount of assistance per household and state rainy-day funds as a percentage of state expenditures."
Arlington ranked #15 on the list. Washington, D.C. was not factored into the rankings.
Although there's some comfort in Alexandria's strong economic base, a separate study by Brookmark Research concluded that nearly two-thirds (63%) of Americans believe that if the coronavirus spreads significantly in the United States, it is somewhat or very likely that this novel coronavirus will trigger an economic recession.
In the past week, the stock market has shown unusual volatility with impressive losses and gains. That volatility is expected to continue for at least a few weeks as major sectors of the economy figure out the short- and long-term effects of this novel coronavirus. Already, major companies are asking employees to work from home and several major conferences -- including South by Southwest -- have been canceled.
Brookmark Research surveyed more than 1,000 Americans nationwide between Feb. 29 and March 1.
