MEMPHIS, TN (abc24.com) - Memphis has one of the weakest economies in the world, according to a report by the Brookings Institution.
The report ranked the economic performance of Memphis 171st among the world's 200 largest metropolitan areas. In comparison, Nashville ranks 89th.
"It is just hard here, I think it is hard, I think it could be better." said Tuwanta Burks.
The report comes the same day a report by the Wall Street Journal ranked Memphis at the top of 54 metro cities for highest number of people suffering from long-term unemployment. The report defined long-term unemployment as being without a job for more than a year.
"I know a lot of people that are unemployed and can't find jobs. Me personally, I'm lucky, right now I'm not one of them." Burks said.
The news isn't all bad though. One local economist who is familiar with the Brookings Institution report said it is important to note the report is a look back. Recent trends are more encouraging. Unemployment numbers are down, and corporations like Electrolux are still picking the Memphis area for investment.
