The city's 22.8% unemployment rate is among the highest in the U.S.; 30% of residents are on food stamps...Via.
A few retailers are thriving. Family Dollar Stores Inc. has opened 25 outlets since 2003...
Meanwhile, the former Lochmoor Chrysler Jeep is now Lochmoor Automotive Group, a used-car dealership and repair shop. Gina Russo, daughter of the dealer's longtime owner...has agreed to start selling small pickup trucks made by India's Mahindra & Mahindra Ltd.
I don't know what the answer is. The article points out that as population drops, tax revenues fall, and city services such as trash collection, snow removal, and police response suffer. This makes it difficult to lure retail business, which makes it difficult to lure new citizens. Vicious circle.
NYC got into a bad state in the 1970s and 1980s, but pulled itself out. However, there is intrinsic value to living or having your business in NYC, arguably the premier city in the world. Fix the city a little, and people will come back. There is no intrinsic value to living or doing business in Detroit. Detroit has a much tougher job.
I'm a little worried that Philadelphia is headed in the same direction. It is still losing population. It's not an industry monoculture like Detroit was, and the metropolitan area is healthier than Detroit's. Still, I worry.