page_title: Economy of Greater Cleveland
section_title: History
hierarchical_section_title: Economy of Greater Cleveland / History
caption_attribution_description: John D. Rockefeller Senior Deutsch: John D. Rockefeller (* 1839) English: John D. Rockefeller ca. 1875 Español: John D. Rockefeller Français&#160;: John D. Rockefeller vers 1875 日本語: John D. Rockefeller ca. 1875 Polski: John D. Rockefeller ok. 1870 Русский: Джон Рокфеллер в 1875 году
context_page_description: The economy of Greater Cleveland is diverse, but is based on healthcare, banking, finance, education, insurance, manufacturing, sports, and tech. The metropolitan area based in Cleveland is the 33rd largest in the country, and is home to over 2 million people.
context_section_description: Cleveland was founded in 1796 by Moses Cleaveland and his followers. In the early 19th Century, farmers came to Cleveland to sell their goods. The building of the Erie Canal helped grow the region as well as its economy. In the 1860s, the Standard Oil Company was founded by John D. Rockefeller in the city of Cleveland. In the early 20th century, about a quarter of the region's jobs were in steel mills. The Great Depression hurt the area's economy and caused up to 35% unemployment rate. The City of Cleveland went into default in 1978 and was $30 million in debt. The area's economy improved during the 1990s. However, The Great Recession hindered the region as the City of Cleveland's unemployment rate hit 12%. Since then, the state of the metro area's economy has improved. The GDP of the region is at about $138 billion.
caption: John D. Rockefeller, one of the richest people in history, lived in Cleveland
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