As our nation continues to be devastated by COVID-19, the economic toll is rushing to outstrip the toll in lives taken. While there’s obviously no way to equate the two, the millions of people who have lost their jobs because of the pandemic are the ones who bear the brunt of shutting our country down. Many of those workers would never get back their jobs, because the businesses that laid them off went bankrupt.
We have yet to see the full effect of COVID-19 on our country and on the planet. Even so, it’s amazing we’ve not entered a period of economic crisis yet. Many financial gurus say it’s just around the corner but obviously we’re not yet out of risk. Perhaps the only way we’ll see the end of the danger is through the depression on the other side.
Some people were a bit too quick to dismiss the pandemic’s effects, forgetting that it’s been worldwide, not just here in the United States. Although there are those who might attempt to use it for political advantage, they can not make up the illness or its effects; doing so would require the plot of all time to be formed.
So, as we are navigating the waters of the entirety of this pandemic, we must also brace ourselves for the upcoming tough financial times. Moving to one of these places could also be a smart thing for those who can, as it might lessen the depression’s effect on their lives.
Related: 10 Great Depression Era Strategies For Saving Money
The Least Impacted Communities
If we were to look at this issue from a general area point of view then rural farming communities are some of the least affected by any recession or depression.
People will still have to eat, so if you’re working in agriculture, chances are pretty good that you’re going to keep your job.
The problem with this is that not all that big is actually the actual amount of jobs available in those areas. There might not be a lot of others to choose from if you lose your job. So you’re going to want to make sure you choose a job that’s going to guarantee you some protection. Avoid any kind of expensive food products, as this will be one of the first areas where people can make budget cuts.
In addition, rural areas are less likely to be affected by the rise and fall of economic waves, since many of the aspects that they have impacted are not so much affected. Housing rates do not suffer from strains on the economy and there are not so many socially precarious workers in the service sector. So if you’re self-employed, operating on the internet, where you’re able to live anywhere, a rural community might just be your spot.
The City with the Lowest Unemployment Rate
According to reports from the US Bureau of Labor Statistics, Oklahoma City has the lowest unemployment rate in the country for a large community.
Although this can shift, and most likely will go up during a crisis, chances are that even at its peak, OK City’s unemployment rate will be lower than it will be within the coastal areas with high population.
Oklahoma’s economy is focused primarily on output of oil and gas, which is likely to remain reasonably strong, even in periods of economic hardship. Although the use of fuel will be somewhat limited, much of the oil and natural gas generated in this country will be used for purposes that will not just stop due to a decline in the economy.
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The Recession-Proof City
Frisco, Texas has been ranked as the country’s most recession-proof region.
This rating is based on a mixture of their unemployment rate, percentage of income spent on housing, and percentage of the population that relies on social welfare.
Compared with other parts of the world, the effect of any economic downturn would be lessened with an economy that is stable.
This envy ranking was checked by different individuals, not all of which use any of those parameters. Nevertheless, the city ranks high in terms of jobs and housing, regardless of the scale used.
The City with Plenty of Jobs
Leigh Acres, Florida is the fastest growing city in the US, with a very high ranking in its employment and economic rank, as well as its socio-demographic level.
The high growth can very easily translate from any recession or depression into a diminished overall financial impact.
Of course, you’d want to beat the rush to get there before the depression begins, to take advantage of this. When things turn bleak, there’ll be a lot of people looking to move to places where there’s plenty of opportunities. This will change the Leigh Acres numbers, as well as other cities that currently rank very high for employment growth.
Related: 10 Expenses You Need to Cut Now for the Upcoming Economic Depression
One of the Fastest Growing Regions
The Rio-Grande Valley district of South Texas was one of the least affected in the country during the housing crisis of 2008/2009. Where housing starts falling to near zero in much of the world, this area was still rising, and new homes were being constructed. It has continued to grow, and remains one of the country’s fastest growing regions.
The Rio Grande Valley, with hundreds of maquiladora factories on the Mexican side of the border, is a significant crossing point between the United States and Mexico. This has increased trade in the region not only because of cross-border products, but also in supplying goods and services in support of those factories.
Many of the top management are living on the U.S. side of the border, especially in the case of managers from other countries with factories in Mexico.
Be Self-Sufficient
Either way, your best bet is living an independent lifestyle, preferably in a mountain cabin.
If you’re self-employed and can afford to pay off the house, maybe through the selling of your current home, you would be able to live very comfortably, helping you survive any financial crisis.
Some people who were the least affected during the Great Depression were those living in these cities, as well as those living in rural communities. The fewer people relied on others for their incomes, the easier it was for them to survive. Chances are pretty good this time around, it would be the same as before.
Related: How to Prepare Your Mind For The Coming Crisis
Watch Out for These
Possibly the worst place to live with the economic depression that is coming is in any of the major cities, particularly those along either coast. The high number of people living in those areas would mean that the assistance and services available would need to be distributed over a greater number of people. Although large cities typically have more resources, the per capita resources are usually lower.
Any job advertised in a large town already has a long list of applicants. That just gets worse, as the economy gets worse. As the rivalry increases, chances of getting a job will get harder. More employment will also be lost because they are “non-essential,” leaving those people with no other choice, as industry as a whole is seeing major declines.
Living off the city’s land is equally unlikely. While living off the land anywhere, living out in the countryside or even in the suburbs is not easy, it allows you to plant a garden and raise a few chickens to help feed your family. That is hard to do while staying in an apartment or high-rise condo.
