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Is the recession over in El Paso?

Author

Listed:
  • Jesus Cañas
  • Roberto Coronado
  • Robert W. Gilmer

Abstract

In December 2007, the U.S. economy entered a mild recession, a downturn that would ultimately trigger the worst financial crisis since the Great Depression and a fall into one of the longest and deepest recessions of the past 60 years. Growth returned to the U.S. in mid-2009 but remains too slow to make inroads into stubbornly high unemployment. Virtually no geographic area of the country was left untouched by the U.S. downturn, including El Paso, although the local economy performed much better than other border cities, such as McAllen, Brownsville and Laredo. Government-related spending, especially the huge expenditures at Fort Bliss, provided an important brake on the local economic decline.

Suggested Citation

  • Jesus Cañas & Roberto Coronado & Robert W. Gilmer, 2010. "Is the recession over in El Paso?," Crossroads, Federal Reserve Bank of Dallas, issue May.
  • Handle: RePEc:fip:feddcr:y:2010:i:may:n:1
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    File URL: http://www.dallasfed.org/assets/documents/research/crossroads/2010/cross1001.pdf
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