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Unformatted text preview: industry spending in
In 2010, GDP grew 4.5% for the metropolitan
statistical area, and total personal income increased
4.6% in El Paso County. Private-sector personal
income rose 0.7%, while personal income for those
in the military climbed 16.1%. The military’s presence is the primary reason the county’s income
grew in 2010.
The local economy is expected to see decreased
federal expenditures in the coming years. The
Budget Control Act of 2011 will result in reduced
federal expenditures beginning in 2012. This is
anticipated to result in lower local expenditures
for military and federal civilian employees, which
will slow the local economy, independent of concerns about the national economy. Efforts to grow
the private sector must be more aggressive and
innovative. Employment and Unemployment
The El Paso County private-sector employment
figures from the Bureau of Labor Statistics (BLS)
Quarterly Census of Employment and Wages
(QCEW) decreased by 0.9%, or by 2,163 jobs, in
2010. This comes on top of losses of 10,...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery