Business Odyssey 037
The economy seems pretty bad. No doubt about it. Here's today's question: Is it worse than the media is telling us, better than the media is telling us, or are we hearing it "just about right." 

To be clear, I'm not asking so much about factual accuracy, but about emphasis. What do you think?

I tend to think that the economy, while bad, isn't quite as bad as we're being told. Case in point, the unemployment rate during the Great Depression got as high as 25% nationally in 1932. Today, the worst states are just now hitting 10%, the national number is somewhere a couple percentage points below that. 

I know the economy is bad…really bad in fact, but I just heard the word "depression" used this morning.

This interests me as Businessweek just published it's list of the 10 unhappiest cities in America. Here they are:

1. Portland, OR
2. St. Louis, MO
3. New Orleans, LA
4. Detroit, MI (which I would have guessed to be #1)
5. Cleveland, OH
6. Jacksonville, FL
7. Las Vegas, NV
8. Nashville, TN (a suprise)
9. Cincinnati, OH
10. Atlanta, GA

These cities are depressed, though some of these areas are weathering the economic storm.

Interestingly, the only California city to make the top 20 was Sacramento at number 12. I wonder why Sacramento? 🙂