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growth

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Economic growth and labor force growth

An analysis of data from the past decade and a half show that in the 25 largest metropolitan areas, immigration and economic growth go hand in hand. That’s easily understandable: Economic growth and labor force growth are closely connected, and immigrants are likely to move to areas where there are jobs, and not to areas where there are not.

Between 1990 and 2006, the metropolitan areas with the fastest economic growth were also the areas with the greatest increase in immigrant share of the labor force. The economies of Phoenix; Houston, TX and Dallas ,TX saw the fastest growth in immigrant share of labor force, while all showed well above average economic growth in these years and Phoenix experienced the fastest growth of all metro areas. By contrast, Cleveland, Pittsburgh and Detroit metro areas experienced the slowest economic growth and among the smallest increases in immigrant share of labor force. compare with the economy growth of Austin, TX.

Economic growth does not guarantee, however, that pay and other conditions of employment improve significantly for all workers. The challenge is to make sure that immigrants and U.S.-born workers struggling in low-wage jobs share in the benefits of economic growth.

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Global competitiveness in Manufacturing

The Council on Competitiveness and Deloitte Touche Tohmatsu are embarking on a Global Competitiveness in Manufacturing initiative to identify the issues and priorities that global manufacturing executives believe are key to their growth as well as those countries that in their view are stepping up to the challenge. One of the first joint projects included in the initiative is a global CEO Survey. The survey will capture data to learn how CEOs view manufacturing industry competitiveness around the world. A unique feature that will be developed from the results is a global index rating the overall competitiveness of manufacturing industries across different countries today and in five years. The initiative will also highlight important factors within a country that CEOs view as contributing to competitiveness, as well as their perspectives on the current business climate, and government actions necessary to enhance industry competitiveness. The goal of the survey is to create awareness and develop a call to action to drive global competitiveness in manufacturing.

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