Las Vegas U.S.'s 2nd-most recession-devastated city, new analysis says

 

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Las Vegas is second among U.S. cities most devastated by the Great Recession, according to an analysis by a leading business Web site of a recent Brookings Institute report.

Only Detroit, ravaged by the near-collapse of the U.S. automobile industry, fared worse, according to the BusinessInsider.com analysis.

The Brookings Institute report looked at employment, unemployment, home prices, foreclosure rates, and "gross metropolitan product," or the total value of goods and services produced within a metro area.

"The U.S. economy’s performance is driven largely by that of its major metropolitan economies," the report states. "Las Vegas and metropolitan areas in California and Florida remained among the worst performers, reflecting continued labor market weakness following the housing market crash in those places."- Brookings Institute March 2010 "Metro Report"

"Two years after the start of the Great Recession, the nation had recovered a smaller percentage of jobs than the two years after the start of any of the previous three recessions. Over the past decade the nation had virtually no job growth, in large part because of the Great Recession," the report states.