unemployment
The economic situation differs from country to country, caused by difference in population, geography, monetary system, political situation and a lot of other factors. But even within one country there are always a number of regions that differ from one another by their economic performance. This situation is especially true for big countries like US. If the regions are too broadly defined, the economic diversity would be lost. If the regions are too narrowly defined, they are not likely to have any viability as economic entities, and this circumstance will increase the problem of developing good regional economic data pertinent to the individual regions. Economic indicators like income, employment and population may differ in the rural and urban areas of a single region, but the growth of the region still depends on the economic performance of the region as a whole, and especially the towns and cities. An input-output model is very useful of measuring regional economic activi!ty. Such a model effectively determines the impact of one economic variable on another can be used to analyze expected growth. The measure of regional economic indicators and comparing them to national could produce a good estimate of economic performance
Though federal civilian employment has been in a steady decreasing since 1992, rising state and local government employment has offset these !losses. It is also useful to know what is the ratio of employment to a total population of the region. GDP depends on population and it will increase with increase in population, so when comparing GDP and GSP it will be useful to take Per Capita date, so it will be free of influence of difference in population. Wage and Salary rates is slightly lower than in US, but Per capita Income still increases average Per capita Income of US. All data is a time series data for time period from 1975 to 1997 both for US (national) and Virginia (regional). Personal income includes wage and salary disbursements, other labor income, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and transfer payments to persons. Wage rate and personal Income Block Wages & Salary Wage and salary rates can estimate earnings of the region. The decrease in economic activity of Virginia began with defense spending cutbacks in 90's. Two other variables are significant at 85% level of significance, are positively related to employment. This means that on average Virginia's output is moving with national output, so it is developing as fast as US.
Common topics in this essay:
,
Population Ratio,
Income Average,
Salary Wage,
National Output,
Population Population,
Virginia GSP,
Personal Income,
Inc EKPC,
Virginia Data,
unemployment rate,
wage salary,
wage salary rate,
regional economic,
growth rate,
salary rate,
economic indicators,
regional output,
population region,
economic performance,
capita income,
economic performance region,
income growth rate,
growth rate 1975-1997,
rate wage salary,
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Acceptance Essays
