Reply to What is the significance of the Sun Belt's GDP?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I have seen several news articles today about states in the Sun Belt boasting a higher GDP than states in the Northeast and higher than the national average. I thought Red States don't contribute as much to the economy as Blue States. Or is it Red State governors trying to show why their economic policies work better than those of Blue States and cities? Is the transfer of wealth to the Sun Belt due to the Pandemic and remote work? [/quote]

You

You misread the articles. They don’t have higher GDP than the Northeast, they have a higher rate of GDP growth since the Pandemic. Not at all the same thing. A big part of that is that a lot the Northeast did not drop off as much as the Sunbelt because the Northeast has a higher share of professional jobs that could be performed from home, and Sunbelt employers were more likely to lay-off workers than to give them temporary deferments. It’s similar with jobs. There is more hiring in the Sunbelt but that’s because there is more quitting and job hopping. More people in the NE did not have a break in employment or change jobs. [/quote]

No. You’re way off. From the Bloomberg article:

[i]The numbers tell the story. For the first time, six fast-growing states in the South — Florida, Texas, Georgia, the Carolinas and Tennessee — are contributing more to the national GDP than the Northeast, with its Washington-New York-Boston corridor, in government figures going back to the 1990s. The switch happened during the pandemic and shows no signs of reverting.[/i]

The state selection is odd given that the southern states are not contiguous, but the comparison does say something. [/quote]

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