After the collapse of the US housing and financial markets in September 2008, criminologists and law enforcement agencies in major urban centers have reported sharp rises in violent crimes. Major US cities nationwide including New York, Houston, Chicago, Boston, and Pittsburgh all endured homicide rate jumps for 2008.
And if 20th century recession trends serve as any guide, these cities now face the almost certain prospect of heightened robberies in 2009 as well. Experts report a consistent correlation from each economic recession since the 1950’s: escalating homicide rates historically serve as a precursor to spikes in property crimes and robberies after a one year lag period.
It appears the converse is also true, as prosperous times have statistically coincided with peaceful eras in US cities as well. New York City boasted it’s lowest reported robbery tally in modern history during 2007 (21,787), down 80% from 1981.
Yet, the current financial crisis has left many municipal budgets strapped for resources. The economic downturn has resulted in the slashing of social service spending across the country, and understaffed police forces now face the enviable challenge of combating the rising tide of crime with fewer officers.