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Capital investment, which was in decline year-on-year since the final quarter of 2006, matched the 1957–58 post war record in the first quarter of 2009. The pace of collapse in residential investment picked up speed in the first quarter of 2009, dropping 23.2% year-on-year, nearly four percentage points faster than in the previous quarter.
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
Additionally, Michigan decreased state revenue sharing with Detroit due to declining population numbers reported in the 2010 census. [20] City expenses also contributed to the cash-flow shortfall. City operating expenses decreased by 38% between 2008 and 2013 through employee layoffs and reduction of employee healthcare and benefits. [20]
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The Chicago metropolitan area represents about 3 percent of the entire US population. Chicagoland has one of the world's largest and most diversified economies. With more than six million full and part-time employees, the Chicago metropolitan area is a key factor of the Illinois economy, as the state has an annual GDP of over $1 trillion. [7]
In the days since, guns have killed at least 2244 more people. Chicago has seen more recent gun deaths than any other city in the U.S. In a speech there, President Obama said "too many of our children are being taken away from us" as a result of gun violence.
The U.S. State of Michigan currently has 43 statistical areas that have been delineated by the Office of Management and Budget (OMB). On July 21, 2023, the OMB delineated eight combined statistical areas, 16 metropolitan statistical areas, and 19 micropolitan statistical areas in Michigan. [1]
By comparison, the GDP has grown by less than 2% in 2013. [179] The negative economic effect of the shutdown will be particularly severe in the Washington, D.C. metropolitan area. Approximately 700,000 D.C. area jobs could be affected at a cost of $200 million a day. [180]