Alexandria is a good place to weather a recession — potentially good news on a day in which the Dow plummeted more 2,000 points at one point.
The city ranked No. 23 on a new list of the 25 “Most Recession-Resistant Cities” in 2020, according to the website SmartAsset. Nearby Arlington ranked No. 15 on the list.
Alexandria and others on the list — Frisco, Texas was No. 1 — were ranked on the basis of employment, housing and social assistance available to residents.
“The Great Recession wreaked havoc on the U.S. economy, with unemployment peaking at 10.1% in October 2009,” a SmartAsset spokesperson said, in introducing the rankings. “Not all cities, however, were hit equally by this economic crisis and some are better equipped to weather the next downturn.”
Federal employment and growth spurred by Amazon’s HQ2 should help cushion blows from a new recession in Alexandria, though the last major downturn — the Great Recession of the late aughts — did have negative impacts on small local businesses and nonprofits.
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