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1 the militarys presence is the primary reason the

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Unformatted text preview: industry spending in the region. 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.

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