Mean Family Income in Midwest Census Region Versus Mean Family Income in Northeast Census Region
The Midwest Region of the United States is the heartland of farming. Historically, it has contained mostly perfect, flat land for agriculture, good soil, and an a variety of climates, well suited for farming. Thus, a huge sector of the economy has been dedicated to manufacturing and farming. On the other hand, the Northeast Region's closer proximity to water has given way to an international trade-based economy dominated by financial corporations and business conglomerates. Until World War II, the Northeast had primarily dominated the manufacturing industry. After this period, industry moved to the Midwest because of lower costs of production. Now, the Northeast is a magnet for more skilled workers because of more developed technology, a more competitive labor market due to better pay, and a better medical market. The incentive for less-skilled workers to move to the Northeast has decreased with the creation of this financial, governmental, medical, and educational conglomerate that we now know today.
We can see on the graphs how mean family income has steadily increased in both regions since 1984, but where do the graphs differ? Are there any periods where growth has declined in one region and increased in another? What might be the reason for these differences?
In addition to this, the graphs begin at 1984, post-"Extraordinary Time". Why then has mean family income steadily increased, despite some declines in growth along the way?
Juliana Kerper and Chris Vogel