Phoenix now has the fastest-growing employment base among the nation's large cities.
While consumers globally can benefit from the emergence of the new China, there will be an impact on the global competitive environment and also on the employment base in a number of the high-technology industries.
And generating the kind of economic growth that leads to the kind of hiring that gets our employment base back up to where it was is going to be hard and it's going to take a lot of work.
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Accounting and legal departments have become more necessary and are large blocks of fixed costs that lend themselves to being spread over a larger employment and sales base.
The result will be slower growth, fewer job opportunities, less employment, a smaller tax base and far less tax revenue than expected.
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But those revenues would come from policies that increase economic growth and employment, and thereby increase the tax base.
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There is the aging of the workforce, which will require employment patterns to evolve based on the skill base and level of training of workers.
Professor DOUGLAS BAIRD (Law, University of Chicago Law School): You can't lose such a large part of your customer base and not expect that large employment consequences are going to follow.
Even within the Great Lakes region, Wisconsin, which ranks second in per capita employment in manufacturing, has held onto most of its industrial employment due to its large, highly diversified base of smaller-scale specialized manufacturers.
While China is going through an evolution of its industrial base, there is still the need to continue finding employment for its 700 million eligible workers.
Instead, it is the single most important budgetary variable because it affects the size of the tax base and the amount of government spending linked to the level of employment.
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Ryan tried to explain that by cutting tax rates for everyone, the economy grows thus broadening the base and bringing in more revenue as greater numbers of workers gain employment.
Loganair said it was committed to the region and would continue to run their aviation engineering base at Dundee Airport and that staff members affected by the cut in services would be offered continued employment within the airline.
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