Economic Distress - Has Worcester Recovered from the Great Recession
Tuesday, March 01, 2016
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For much of the City of Worcester, they are among the most distressed areas of America.
A zip code analysis across the United States, rank over 26,000 and finds that many of the areas of Worcester has failed to recover.
Worcester ZIP CODE 01608
According to Economic Innovation Group, this area of Worcester is among the most economically distressed in the United States. Out of 26,290 zip codes, Worcester’s 01608 is the 388th most distressed in the U.S. This area of Worcester has a poverty rate of 43%. And 59% of adults are not working.
This Zip has a distressed Score of 98.5%.
Worcester ZIP CODE 01610
According to Economic Innovation Group, this area of Worcester is among the most economically distressed in the United States. While the area does include portions of both Holy Cross and Clark, the numbers in this area rank with a 91.9% Distress Score.
In comparison, Zip Code 01606 records a poverty rate of just 10% and has a Distressed Score of just 22.7%. Leave Worcester and has to bordering suburban areas like Holden Zip Code 01520, the distress score drops to 8% and the poverty rate is just 3%.
Similarly, Northborough’s Zip Code 01532 is among the least distressed Zips in the U.S. It’s Distressed Score is less than one-percent — just 0.6%.
The DCI combines seven complementary metrics to present a complete and multidimensional picture of economic distress–or prosperity–in U.S. communities:
- No High School Degree: Percent of the population 25 years and over without a high school degree
- Housing vacancy: Percent of habitable housing that is unoccupied, excluding properties that are for seasonal, recreational, or occasional use
- Adults not working: Share of the population 16 years and over that is not currently in employed
- Poverty: Percent of population living under the poverty line
- Median income relative to state: Ratio of the geography’s median income to the state’s median income
- Change in employment: Percent change in the number of individuals employed between 2010 and 2013
- Change in business establishments: Percent change in the number of business establishments between 2010 and 2013
Related Slideshow: 25 Highest Paying Jobs in Central Massachusetts
GoLocal takes a look at the highest paying jobs in Worcester, with a look at hourly wages and annual salary.
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