Who has a higher unemployment rate – Michigan or North Carolina? Georgia or West Virginia? Illinois or California?
If you said Michigan, West Virginia, and California, (like we did) you’re wrong!
As many look to unemployment rates as a sign of overall U.S. economic recovery, it is important to keep in mind that much of economics, like politics, is local. In CMF’s work with middle-market private equity-backed companies, we are seeing pockets of work develop in the areas where unemployment has been improving, markedly.