Economy
Recession Nation: 49 States at Risk
In March, Five States Were in Recession; Now There Are 30, With 19 More at Risk
By SCOTT MAYEROWITZ
ABC NEWS Business Unit
Nov. 3, 2008
No state is immune from falling into a recession, except for one: oil-rich Alaska.
What started out as a housing problem in a few states has now exploded into a full-fledged recession, with a majority of states now in or dangerously close to recession.
At the end of September, 30 states were in recession, according to Moody's Economy.com. Back in March, only five states were in recession: Arizona, California, Florida, Michigan and Nevada.
Even in the last month, the picture has grown more dire. At the end of August, 27 states were in recession and a few were still expanding. But now, Moody's has determined that Hawaii, Minnesota and Utah have fallen into recession.
Colorado, Massachusetts, Montana, New Hampshire and Texas are also no longer classified as expanding economies. They now are at risk of falling into recession.
The just leaves one part of the country -- Alaska -- with a still-expanding economy. (The District of Columbia, with its government and government-related jobs, also still has an expanding economy.)
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