MACALUSO: The Great Recovery

August 18, 2009 at 2:57pm

The buzz among many economists is that the Great Recession is over.

Of course, for many people in Upstate New York, the recession of the 1990's came and never left.

A new report on Indeed.com on jobless rates in 50 US cities looks at the number of jobs available per the number of people who are jobless.

No surprise that Washington, D.C., is at the top of the list for job availability and Detroit is at the bottom.

But here's a kicker: Buffalo comes in at 41 and Rochester at 44, only six points better than Detroit.

Tell us something we don't know. �

It's not uncommon to hear people tell of being unemployed for a year or more. And if they've found work, it's part time.

A good indicator that the recession has lifted is home sales. And by most accounts, homes have sold fairly briskly in Rochester compared to markets like Miami and Riverside, California.

Homes sell about 90 days before they close and the mortgage is recorded, so there is about a three-month lag in how the economy is doing in "real-time."

Let's hope the Great Recovery for Rochester and Buffalo is better than the last one.

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