You will be able to immediately discover short and long-term trends, shifts in the importance of various economic sectors, and discover how stable the economy is. . The comparison method has been chosen since the importance and relevance of economic growth percentages has always been somewhat subjective. Since employment went up, things must be good. By comparing the growth rate to the rest of the nation in a uniform and consistent manner, the numbers gain much more meaning. Not only is it important to study the growth rate of the economic elements of an area, but it is equally important to examine how and in what manner the growth occurred.
Some areas grow, or decline, in a consistent manner.
Others have boom, bust cycles. The stability of the growth is a reflection of the character of the economy. Calculations are provided for the United States, USA Metropolitan Portion, USA Non-Metropolitan Portion, the highest, lowest, and average for the 316 metropolitan areas, the state in which the Study Area is located, and the Study Area itself. This Section is provided to assist in understanding the Analysis. An economic analysis can be prepared for any state and the United States in its entirety.