Export growth has been strong nationally (14% in the last 12 months). Marple’s Pacific Northwest Letter points out that exports have been quite strong in this neck of the woods. That led me to look at export growth and employment growth across the 50 states. Export data comes from WISER.
The correlation between export growth and employment growth over the last year is 0.22, nicely positive. Eight of the top 10 states for export growth have above average employment growth.
Business Strategy Implications: If you are selling regionally rather than nationally, your radar screen should be monitoring the key determinants of the economy in your market area.