India Economic Overview

The economy of India is the fourth-largest in the world as measured by purchasing power parity (PPP), with a GDP of US $3.36 trillion. When measured in USD exchange-rate terms, it is the tenth largest in the world, with a GDP of US $691.87 billion (2004). India was the second fastest growing major economy in the world, with a GDP growth rate of 8.1% at the end of the first quarter of 2005–2006. However, India's huge population results in a relatively low per capita income of $3,100 at PPP.

The country's economy is diverse and encompasses agriculture, handicrafts, industries and a multitude of services. Services are the major source of economic growth in India today, though two-thirds of the Indian workforce earn their livelihood directly or indirectly through agriculture. In recent times, India has also capitalised on its large number of highly educated people who are fluent in the English language to become an important location for global companies outsourcing customer service and technical support call centers. It is also a major exporter of skilled workers in software services, financial services, and software engineering.

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Rethinking high School Graduation Rates and Trends

In a knowledge-driven economy, those without at least a high school diploma will be far more limited in their work prospects than those with one.

But scholars and educators disagree on the rate of graduation in U.S. high schools. Some new statistics seriously understate minority graduation rates and fail to reflect the tremendous progress in the last few decades in closing the black-white and the Hispanic-white graduation gaps.

Rethinking high school graduation rates and trends analyzes the current sources of available data on high school completion and dropout rates and finds that, while graduation rates need much improvement, they are higher, and getting better.

See also this statement from Paul E. Barton, senior associate and former director of the Policy Information Center at Educational Testing Service, on this release.

New Mexico Rural Areas Examine Ways to Jumpstart Growth

New Mexico is fighting an outbound migration of the state's population in pursuit of greater economic opportunity. Consider that while New Mexico's population grew an estimated 23.7 percent overall from 1990 to 2003, six of the state's 33 counties experienced a population decline in that period and seven others experienced single digit growth.

Population growth trends are directly related to economic opportunity. New Mexico has one of the highest poverty rates in the nation, with an alarming 28 percent of its youth under 18 living in poverty.

The 2000 U.S. Census actually projects only 12 percent New Mexico population growth between now and 2030 because of perceived limited economic opportunities.

What can New Mexico do to reverse this disturbing migration?

The answer is economic development at its most grassroots level. Many efforts are underway to nurture local entrepreneurship and "grow from within."

Read more here.

Ontario's Tracking of Business Investments

I like the way the Province of Ontario tracks and reports business investment within its borders. US states should follow suit and create a similar tracking system. Go here to learn more.

Micropolitan Business Rankings

Site Selection Magazine published an interesting analysis of micropolitan areas across the US and their success in attracting and growing new corporate facilities.

Read about it here.

Latest on ED Advertising

An ABC television affiliate in Los Angeles crushed commercials starring Las Vegas Mayor Oscar Goodman. The ads tout Nevada's business-friendly atmosphere and rip California for high taxes, workers' compensation costs and electricity rates.

"KABC wouldn't run it because it was too anti-California, and they found it offensive," said Diane Pappas, media director for Shonkwiler Partners, the advertising agency that came up with the campaign for the Nevada Development Authority and placed the spots with various California media outlets.

Read more here.

Housing-Jobs Linkages Rising Concern

Studies show Americans spend more time than ever commuting and for a growing number, getting to work takes more than an hour. In the most recent U.S. Census Bureau study, 2.8 million people have so-called extreme commutes, topping 90 minutes.

Longer commutes frequently involve people who live in one suburb and work in another, said Alan Pisarski, author of "Commuting in America." Such a pattern tends to begin with companies moving out of a city to a suburb, enticing workers to move to less-expensive outer suburbs, he told Reuters. "People see this as an opportunity to go farther away," he said.

Studies show 7.6 percent of U.S. commuters traveled more than an hour to work in 2004, the most recent data available, up from 6 percent in 1990. The average one-way commute grew by 13 percent to 25.5 minutes between 1990 and 2000.

In 1990, only in New York state did more than 10 percent of workers spend more than an hour to get to work, Pisarski said. Now that situation can be found in New Jersey, Maryland, Illinois and California as well, he said.

Read more here.