Metro Area Industry Composition and Employment Prospects for Workers of Varying Skill Levels
Metro Area Industry Composition and Employment Prospects for Workers of Varying Skill Levels
Background
- Unemployment rates vary substantially across regions and cities (Elhorst, 2003).
- Industry composition affects regions’ economic growth and unemployment rates (Izraeli and Murphy, 2003).
- Regions with more industrial diversity have greater economic growth and lower unemployment rates (Elhorst, 2003).
- Regions with high concentrations in manufacturing have slower employment growth and larger employment declines (Owyang et al., 2006; Drucker, 2009).
- Regional policymakers strive to grow or attract specific industries as a way to improve their local economies (Barkley and Henry, 2005).
Related Information
Page Last Revised - October 8, 2021