Posted on March 23, 2023

Brookings Metro Monitor 2023 Inclusive Growth

According to a new report from the Brookings Metro Monitor, the Syracuse MSA's overall ranking of inclusive economic growth performance among 192 similar-sized U.S. metro areas increased from 157 pre-pandemic (2011-2019) to 65 for the period 2019-2021. This is a noticeable, positive trend that placed the Syracuse region as one of 45 “Emergent” metro areas, regions that lagged on inclusive growth in the pre-pandemic period but then emerged as relatively stronger performers during COVID-19. Notably, the Syracuse MSA has shown improvement in various areas, including being the leading city among those with a population between 500,000 and 1 million in reducing the employment rate gap between white individuals and people of color (-8.8%). Additionally, it has ranked third for reducing the median earnings gap between white individuals and people of color by $5,613 and third for increasing productivity by 8.3%. Furthermore, it ranked 10th for increasing average annual wages by 8.1%.

Even with the Syracuse MSA's impressive strides in inclusive economic growth, CenterState CEO remains committed to monitoring economic trends and conditions through partnerships like Brookings. Ongoing monitoring and analysis will help sustain and expand progress, while enabling the Syracuse MSA to adapt to changing economic conditions and seize new opportunities for growth and development.

Read the report.

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