Projo 7 to 7 News Blog

The City of Providence has earned itself another distinction.

But don't expect bragging rights.

Forbes magazine has put the Capital City at the top of its list of "U.S. Cities Where It's Hardest to Get By."

That's right, Providence beat out both major metro areas like New York City and hard-hit ones like Detroit to win the top spot.

Though the state's unemployment rate is 10.5 percent, Forbes said that the rate for the Providence metropolitan statistical area in February was 11.6 percent, among the highest of any metro area in the country. Coupled with a decline in construction and manufacturing jobs, the financial magazine wrote, Rhode Island's capital has a particularly acute case of the blues.

"It's hard to catch a break in Providence," Forbes said. "While the area's median income is $54,064 --- about $4,000 higher than the national average --- its cost of living index is steep, 22 points above the national average of 100.

"To determine which of the 50 largest U.S. metropolitan statistical areas --- geographic entities defined by the U.S. Office of Management and Budget for use by federal agencies in collecting, tabulating and publishing federal statistics --- squeeze residents most, we measured cost of living, unemployment rate and median income in each."

Los Angeles; Riverside, Calif.; Tampa, Fla.; and Buffalo, N.Y., also made the top five list of tough cities.

 Tags  cost of living economy Providence RI unemployment

Comments

jan said:

Should we be surprised? Rhode Island smallest state...the biggest government...highest taxes...cost of living too high...we barely get by Keep up the good work RI...we are telling our children to leave RI...go make a life elsewhere where there is quality of life.

Link | April 20, 2009 10:23 PM
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loka said:

who they telling... i live in the damn city

Link | April 21, 2009 1:45 AM
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Jack said:

There's a surprise.. try being a working single parent looking for an apartment to rent around here

Link | April 21, 2009 9:51 AM
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