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The King Institute for Regional Economic Studies (KIRES) has released its eighth report,
“Analysis of the Economy of the First Congressional District of Tennessee with Emphasis
on the Manufacturing Sector.”
The newly released paper reports that employment trends in the economy of the First
Congressional District of Tennessee mirror those in the national economy.
“There has been a pronounced shift in employment out of goods-producing industries
into the service sectors,” said Dr. Sam Evans, associate professor of Finance and
Economics and director of the King Institute for Regional Economic Studies for King.
“Service sector jobs account for 80 percent of employment in the District. Employment
gains in all areas of the healthcare sector and declines in manufacturing account
for much of the changed mix of employment in the region. Manufacturing employment
declined by 2,400 jobs annually over the 2000-2011 period, falling from over 70,000
jobs in 2000 to around 43,000 in 2011.”
The shift in employment from goods-producing industries to services cuts two ways.
The service sector provides more stable employment than goods-producing industries.
However, manufacturing jobs are on average higher paying and have greater total economic
impact. The manufacturing sector directly provides about 16 percent of total employment
in the District. However, the economic impact of manufacturing is far out of proportion
to its share of total employment: the sector, directly and via its significant spillover
impacts, is responsible for more than a quarter of total jobs and more than a third
of total earnings paid to workers in the First Congressional District.
KIRES Report No. 8 introduces the concept of an earnings impact index (EII), which
is a method for ranking industries in terms of their capacity to generate worker earnings.
The EII takes into account the earnings multiplier or spillover impacts of an industry
and the average monthly earnings paid to employees in that industry. The EII values
calculated for industries in the First Congressional District show that chemical manufacturing
ranks first by a wide margin.
The King Institute for Regional Economic Studies was formed in 2010 with a threefold
mission: to build a knowledge base of the regional economy, to inform public and private
decision-making and to provide King University students an opportunity to participate
in research projects.
KIRES Report No. 8 was prepared by Dr. Sam Evans. This report and the seven previous
KIRES reports are available in electronic format at http://kires.king.edu/.
King University is a Presbyterian, master's-level comprehensive university. Founded in 1867 as King
College, the University offers more than 90 majors, minors, pre-professional degrees
and concentrations in fields such as business, nursing, law, medical and health sciences,
pharmacy, digital media, education, and humanities. Graduate programs are offered
in business administration, education, and nursing. A number of research, off-campus
learning opportunities, and travel destinations are also available. King University
is a NCAA Division II and a Conference Carolinas member with 25 varsity athletic teams.
For more information about King University, visit www.king.edu. King University does not discriminate against academically qualified students of
any race, color, national or ethnic origin, sex, age, or disability. King University
is certified by SCHEV to operate locations in Virginia. For more information, contact
the King University office at Southwest Virginia Community College, 309 College Road,
Richlands, VA 24641.