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Article: The New England roller coaster: lessons for the United States in the 1990s.
- Article from:
- Business Economics
- Article date:
- April 1, 1992
- Author:
CopyrightCOPYRIGHT 1992 The National Association for Business Economists. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE OVERALL performance of the New England economy over the past fifteen years has been extremely good. Incomes climbed well above national averages, and for most of the period unemployment rates in the region were much lower than for the nation as a whole. In fact, for virtually an entire decade the New England economy was the envy of the nation. In spite of a deep regional contraction and over two years of job losses, incomes and employment/population ratios in New England remained well ahead of national averages in 1991 (Table 1).
Nevertheless, the abrupt downturn in the regional economy in 1989 (Table 2) tainted the nation's image of New England, diminishing ...