For many years, the Bureau of Labor Statistics (BLS) used replacement rates to measure occupational demand due to individuals leaving their occupation. When the BLS switched from replacement rates to separation rates, it was quite a shock for many of us. On average, these rates measuring this type of labor demand more than quadrupled!
At first glance, Hendry County's statistics show an area with significant challenges. Every mention of the County in the news is immediately followed with the unemployment rate - 6.5% in December 2017, the highest in the state of Florida by a full percentage point. The population is just above 38,000, with 26.3% below the poverty level and 37.5% without a high school diploma. Although the local economy is dependent on crop and animal production, especially citrus and sugar cane, the County has no fresh food markets. To make matters worse, Hurricane Irma last year hit the County hard.
Caralyn Baxter grew up filled with dreams of someday competing in the Winter Olympics. As a competitive figure skater, she was heartbroken when her teenage years brought about an unexpected series of injuries-but she didn't let that deter her…
Economic Impact: Certain occupations dependent on R&D show an impressive relationship between innovation and growth
Businesses and nations that spend more on research and development grow at a faster pace, according to many studies. More than half of all R&D expenses on average are attributable to labor, according to an analysis of countries that belong to the Organization for Economic Co-operation and Development.
- Richmond Times Dispatch Articles
Studies show a positive relationship between innovation and growth. Companies with a higher degree of R&D orientation grow faster than other firms. Further, nations with greater expenditures on R&D as a percentage of GDP also experience faster economic growth.