Riverside Ranked 3rd in Economic Performance Statewide
The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance in 2013-2014, and Riverside ranked #103 on the list. Additionally, only 2 other California cities were on the list ahead of Riverside; Fresno (#49) and San Jose (#72).
This year’s Global MetroMonitor, the fourth edition of the report, analyzes 2013-2014 data on the performance of the world’s 300 largest metropolitan areas based on their annualized growth rates of GDP per capita and employment. According to The Brookings Institution and JP Morgan Chase, employment has risen in Riverside 2.8% (2013-14) with a Real GDP per capita growth 0.2% (2013-14). The Monitor combines these two key economic indicators into an economic performance index on which the 300 metro areas are ranked for 2014.
The 300 largest metropolitan economies are home to 20 percent of the world’s population and jobs, but account for almost half of global GDP, underscoring that the global economy is truly a metro economy.
In 2014, a third of the 300 largest metropolitan economies were “pockets of growth,” outperforming their countries on both income and employment growth. And on income growth alone, nearly half of all metro areas performed better than their national economies.
The MetroMonitor also analyzes the extent to which the world’s metro economies have recovered to 2007 levels of income and employment. The number of U.S. metros that achieved full recovery to 2007 levels in both employment and income has nearly doubled since the 2012 Global MetroMonitor was published, with 32 out of 80 metros in this category in 2014, versus 17 in 2012.
To learn more about MetroMonitor and how Riverside stacks up against the world, click here.