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Albany heads list of top-performing cities

Low unemployment helped drive increase moving activity in Albany.

Low unemployment helped drive increase moving activity in Albany.

When considering relocation, economic stability is one of the most important factors in that decision. A new study says that while few areas emerged from the recession unscathed, Albany, New York, has fared the best of all cities nationwide.

According to the latest MetroMonitor report by the Brookings Institute's Metropolitan Policy Program, New York's Capital region had the strongest economic performance in the country as of the second quarter of this year.

Unemployment played a major role in the ranking. Overall employment in Albany dropped just 2.4 percent since mid-2008, compared to the average 5.9 percent loss reported by the entire 100-city group. The city also has the second-lowest foreclosure rate in the country, which has helped maintain home prices.

Other cities in the top five included Augusta, Georgia; Austin, Texas; Baton Rouge, Louisiana and Buffalo, New York.

There are also signs that the economic recovery is beginning to take hold across the country. Intial jobless claims - the number of people filing for unemployment for the first time - unexpectedly dropped this week, meaning that fewer people are being laid off.