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Journal Article
The District economic outlook : responding to labor shortages and overseas problems
The Tenth District economy slowed down in 1998, with employment growing marginally below the national average. Despite very tight labor markets, employment growth remained healthy in many sectors. Construction; trade; transportation, communications, and public utilities; and finance, insurance, and real estate---all posted healthy gains. The manufacturing and service sectors, however, turned in weak growth, a result of the Asian financial turmoil and a shortage of skilled workers throughout the district. District agriculture had a difficult year, as commodity prices plunged in the face of ...
Journal Article
Will the Tenth District catch the Asian flu?
While the impacts of the Asian financial turmoil on the United States have been widely discussed and studied, few analysts have looked at the likely impact on the Tenth District Economy. Gazel and Lamb examine the negative impacts of the Asian financial turmoil on the Tenth District and find that while the overall impact on the district economy is likely to be moderate, some segments of the economy could be hurt significantly. Two important sectors of the Tenth District economy likely to be affected by the Asian economic crisis are manufacturing and agriculture.> District manufacturing ...
Journal Article
Will tightness in Tenth District labor markets result in economic slowdown?
Labor markets in the Tenth District are tighter now than at any time in recent memory. The steady fall of unemployment rates in recent years has led many analysts to wonder if future economic growth in the region could be restricted by labor shortages. The district's labor market is actually even tighter than suggested by its unemployment rate of less than 4 percent in 1998 due to the presence of two other significant, but often overlooked, factors: high labor force participation rates and slowing domestic migration flows.> The labor force participation rate, meaning roughly the percentage of ...
Journal Article
What's hampering job growth in the District's services sector?
Employment growth in the Tenth District has fallen behind the national rate in 1999 for the first time in ten years. Although all economic sectors have been experiencing slower job growth, the services sector, due to its size, has played perhaps the most important role in the slowdown of overall employment growth in the district. While services employment elsewhere in the nation continues to grow rapidly, the district has witnessed very little job expansion in services so far in 1999 (Chart 1). In fact, the district services sector has added jobs during the first seven months of this year at ...
Journal Article
The impact of the Brazilian crisis in the Tenth District
The recent economic turmoil in Brazil, triggered by the devaluation in January of the "real" (Brazil's currency), has understandably created concern about how the United States will be affected. This article looks at the possible impacts in the Tenth District and finds that, at least for now, there is little need for concern. The article is divided into three sections: an explanation of the crisis and its overall potential for harm, a brief discussion of the direct impact on district producers, and a more thorough analysis of the indirect ways a spread of the crisis could affect ...
Journal Article
Tenth District economic developments
The Tenth District economy posted lower employment growth in 1997, marking the first time since 1988 that the district underperformed the nation. District agriculture posted solid gains in 1997, with big harvests and major improvements in the cattle industry. Overall, labor markets remained tight in most of the district, most likely limiting job growth in the region.> Gazel reviews the major economic developments in the district economy in 1997 and examines the outlook for 1998. The district economy is likely to grow moderately this year, nearly matching the 1997 pace. Tight labor markets ...