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The South shall rise again.

Employment growth will differ markedly among U.S. regions through 1994 due to variations in factors such as population fluctuations, cost structures, and industry mix, according to a DRI/ McGraw-Hill forecast. The fastest growing region will be the South, with expected annual expansion of 2.3%, while the Northeast will experience the slowest, at 1.7% annually. The West and Midwest each are expected to rise by two percent.

Florida will be the fastest growing state (3.5%), followed by Nevada and Utah, According to DRI/McGraw-Hill regional economist Sara Johnson, Florida's construction employment is surging. "The South Atlantic states are attracting manufacturing and financial service industry investments. Their success reflects a low cost structure, an influx of new residents, and proximity to the growing Latin American market." For similar reasons, Texas also offers strong business opportunities in the 1990s.

California will have the slowest job growth rate due to ongoing aerospace and defense cuts and a weak real estate market; the @state's unemployment rate will continue to hold above nine percent. "In the late 1990s time frame, however, California will rebound to number five in growth among the states on the strength of its high-tech industries and trade links with the Pacific Rim nations," Johnson predicts. New England, with its skilled workforce and strong technology resources, will be another turnaround situation in the mid 1990s.
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Title Annotation:employment in U.S. regions
Publication:USA Today (Magazine)
Date:Dec 1, 1993
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