Patterns of Economic Change by State and Area

Patterns of Economic Change by State and Area: Income, Employment, and Gross Domestic Product is a special edition of Business Statistics of the United States and a new addition to the Bernan Press library of reference titles. This title presents data on personal income, employment, and gross domestic product for the United States as a whole, and by region, state, and metropolitan statistical area (MSA). Data on personal income and employment extends back to 1958 for the states and regions and to 1969 for the MSAs. Patterns of Economic Change complements other Bernan Press titles such as the State and Metropolitan Area Data Book and County and City Extra. In contrast to their predominantly current and detailed cross-section data on states and metropolitan areas, this book contributes historical time-series measurements of key aggregates that show how the economies of regions, states, and metropolitan areas have responded over time to cyclical currents and long-term trends. Statistics at the state level provide a framework for analyzing current economic conditions in each state and can serve as a basis for decision making. For example: ·Federal government agencies use the statistics as a basis for allocating funds and determining matching grants to states. The statistics are also used in forecasting models to project energy and water use. ·State governments use the statistics to project tax revenues and the need for public services. ·Academic regional economists use the statistics for applied research. ·Businesses, trade associations, and labor organizations use the statistics for market research. Some examples of interesting data found in Patterns of Economic Change by State and Area include: ·In 2012, per capita income ranged from $21,620 in McAllen-Edinburg-Mission, TX to $78,504 in Bridgeport-Stamford-Norwalk, CT among all MSAs. Per capita personal income is typically highest in the New England states and lowest in the Southeast states. ·Among the four largest states, real GDP growth has been the fastest in Texas from 2005 through 2012. Output dropped sharply in many states from 2007 to 2009 reflecting troubles in the financial and housing markets. ·Although the poverty rate declined slightly in 2011 from 15.1 percent to 15.0 it was still much higher than it was from 2000 through 2009.