Western Economic Developments

Executive Summary The Twelfth District continued on a solid economic growth path in the first quarter of 1996. As of March, District employment was 2.6 percent above its year-earlier level, and growth during the first quarter of 1996 was slightly above that pace. California continued on a moderate growth path, as did Idaho, and the Washington economy is improving after a somewhat weak 1995. Rapid expansion continued in most of the remaining District states, with the exceptions of Hawaii and Alaska. The semiconductor and computer manufacturing industries, along with related sectors, play an important role in the District economy. Despite the […]

Executive Summary Recently revised payroll employment figures reveal solid Twelfth District economic performance in late 1995 and early 1996, spurred by job growth in California that accelerated over much of 1995. In addition, the District still contains four of the five fastest-growing states in the nation. Rapid expansion in the service, trade, and construction sectors accounts for much of recent District employment growth. Manufacturing activity also has been solid, particularly in the electronics sector, although there are signs of reduced semiconductor demand. Early in the California recovery, employment growth was concentrated in several sectors that expanded rapidly nationwide. Employment growth during […]