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Tenth District’s Defining Industries: How Are They Changing?: A Reprint from the Federal Reserve Bank of Kansas “Economic Review”
Chad R. Wilkerson (au); Megan D. Williams (au)
The economy of the 10th Fed. Reserve Dist. (based in Kansas City, MO) has become more services-based in recent years. While this transformation has lessened many of the historical differences with the rest of the nation, the regional economy still remains distinct. What industries make the 10th Dist. so different, & what can they tell us about the future of the regional economy? This essay examines the “defining” industries of the region. It finds that the performance of a relatively small group of these industries track closely with overall job growth in each state. In other words, states whose defining industries have prospered in recent years have grown quickly overall, while states whose defining industries have struggled have grown sluggishly. Tables.
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