2012 Q2 Report

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Our 2012 Q2 report, with all the statistics and news you need about Columbus economic development and business growth!

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2012 Q2 Report

  1. 1. QUARTERLY ECONOMIC UPDATE | Q2 2012
  2. 2. Th e QUARTERLY ECONOMIC UPDATE | Q2 2012EMPLOYMENT, LABOR FORCE, UNEMPLOYMENT RATES TOTAL PAYROLL EMPLOYMENT COLUMBUS REGION UNEMPLOYMENT Columbus metro area employment rose faster than RATE that of Ohio and U.S.: Columbus MSA employment rose 7,600 (0.8%) in the second quarter, compared to 12% 102.0 Ohio growth of 0.7% and U.S. growth of 0.2%. 100.0 10% Index: 1/08 = 100.0 Employment growth in the first half was 17,700 (1.9%) 98.0 8% for the MSA, 1.6% for Ohio, and 0.7% for the U.S. 96.0 6% Columbus Region unemployment rate down to 94.0 4% 6.3%: The 11- - 92.0 adjusted unemployment rate fell to 6.3% in June, 90.0 2% compared to a 7.2% Ohio rate and an 8.2% U.S. rate. 88.0 0% 4/08 7/08 10/08 4/09 7/09 7/10 10/10 4/11 10/09 1/08 1/09 4/10 7/11 4/12 1/10 1/12 10/11 1/11 10/09 4/08 4/10 1/09 7/08 4/09 7/10 10/10 1/12 10/08 1/10 4/11 7/11 10/11 1/08 7/09 1/11 4/12 The number of employed residents increased while the number of active local job-seekers remained essentially Columbus MSA Ohio US Columbus Region Ohio U.S. constant, leading to the decline in the unemployment rate. Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. Source: Local Area Unemployment Statistics, Bureau of Labor Stats. Seasonal adjustment of MSA employment by Regionomics LLC. Seasonal adjustment of regional rate by Regionomics LLC. Gap remains between normal and actual labor force growth: The difference between reported labor force and the level assuming normal growth continues to widen, indicating a growing overhang of discouraged COLUMBUS REGION LABOR FORCE workers. 1,120 1,070 Thousands 1,020 970 920 4/09 4/10 7/10 4/11 4/08 7/08 10/08 7/09 10/09 1/08 10/10 1/09 1/10 4/12 7/11 10/11 1/12 1/11 Labor force Labor force, normal growth Resident employment Source: Local Area Unemployment Statistics, Bureau of Labor Stats. Seasonal adjustment of regional rate by Regionomics LLC. 1
  3. 3. QUARTERLY ECONOMIC UPDATE | Q2 2012EMPLOYMENT BY INDUSTRYMSA SHARE OF EMPLOYMENT BY INDUSTRY, LOGISTICS: TRANSPORTATION, MANUFACTURINGJUNE 2012 WAREHOUSING & WHOLESALE 110.0 110.0 Logistics 10% 105.0 105.0 Index: 1/08 = 100.0 Index: 1/08 = 100.0 Manufacturing 100.0 Retail 100.0 trade 7% 95.0 12% 95.0 90.0 Government 18% 85.0 Professional & 90.0 business svcs 80.0 18% 85.0 75.0 Leisure & hospitality 80.0 70.0 Computer 10/10 7/08 4/08 10/08 4/12 4/09 4/11 7/09 10/09 1/10 4/10 1/08 1/09 10/11 7/10 1/11 7/11 1/12 10/08 4/09 4/08 7/09 4/10 4/11 10/09 1/08 7/10 4/12 1/09 10/10 1/11 7/08 7/11 10/11 1/10 1/12 11% design & related svcs Healthcare & Finance & 3% social insurance assistance 7% Columbus MSA Ohio US Columbus MSA Ohio US 14%PROFESSIONAL & BUSINESS SERVICES COMPUTER DESIGN & RELATED SERVICES FINANCE & INSURANCE 110.0 150.0 110.0 105.0 140.0 105.0 Index: 1/08 = 100.0 Index: 1/08 = 100.0 Index: 1/08 = 100.0 130.0 100.0 100.0 120.0 95.0 95.0 110.0 90.0 90.0 100.0 85.0 85.0 90.0 80.0 80.0 80.0 4/08 4/09 4/12 7/11 7/08 10/08 7/09 10/09 10/10 4/11 1/09 1/10 1/08 4/10 7/10 10/11 1/11 1/12 4/08 4/09 4/08 4/09 4/12 4/12 4/10 7/08 10/08 10/09 7/10 4/11 7/08 10/08 10/09 10/11 1/08 1/09 7/09 10/11 1/08 1/09 7/09 4/10 7/10 10/10 1/10 4/11 10/10 1/12 7/11 1/11 7/11 1/10 1/11 1/12 Columbus MSA Ohio US Columbus MSA Ohio US Columbus MSA Ohio USSource: Current Employment Statistics, U.S. Bureau of Labor Statistics.Seasonal adjustment of MSA employment by Regionomics LLC. 2
  4. 4. QUARTERLY ECONOMIC UPDATE | Q2 2012EMPLOYMENT BY INDUSTRY (continued)  Charts on pages 2 and 3 show that the Columbus HEALTHCARE & SOCIAL ASSISTANCE LEISURE & HOSPITALITY metro area experienced employment gains in logistics, healthcare, leisure & hospitality, and retail, above Ohio 130.0 110.0 125.0 and U.S. rates. The MSA underperformed in business 105.0 Index: 1/08 = 100.0 Index: 1/08 = 100.0 120.0 services and saw losses in finance and government. 115.0 100.0  Manufacturing gained 400 jobs (0.6%), partly 110.0 105.0 95.0 offsetting a 4,600-job loss over the previous eight 100.0 95.0 90.0 months. 90.0  Leisure & hospitality employment surged 4,200 jobs 85.0 85.0 (4.8%). 80.0 80.0 4/08 4/09 10/08 4/11 7/11 10/11 1/08 4/12 7/08 7/09 10/09 4/10 10/10 1/09 1/10 7/10 1/11 1/12 10/10 4/08 7/08 10/08 4/09 4/11 4/12 7/09 10/09 10/11 1/08 1/09 1/10 4/10 7/11 1/12 1/11 7/10  Retail continued its strong growth with a gain of 2,100 jobs (2.2%). Ohio gained 0.5% and the U.S. gained 0.1%. Columbus MSA Ohio US Columbus MSA Ohio US The second quarter gain brings total growth since February 2010 to 6,400 (6.7%).Industry MSA empl. chg. OH US No. % % % GOVERNMENT RETAILLogistics +900 +1.2 -0.5 0.5 110.0Manufacturing +400 +0.6 1.1 0.3 110.0Business services +100 +0.1 1.0 0.7 105.0 105.0 Index: 1/08 = 100.0 Index: 1/08 = 100.0 Computer-related +200 +0.7 -1.6 1.2 100.0 100.0Finance & insurance -100 -0.2 0.4 0.2 95.0 95.0Healthcare & social assistance +1,000 +0.9 +0.4 +0.4 90.0 90.0Leisure & hospitality +4,200 +4.8 +1.1 0.0 85.0 85.0Government -2,400 -1.6 +0.1 -0.2 80.0 80.0Retail +2,100 +2.2 +0.5 +0.1 10/08 10/09 1/08 4/08 4/09 7/09 4/12 1/09 4/10 7/10 7/11 10/11 7/08 1/11 4/11 10/10 1/10 1/12 10/10 4/08 7/08 1/10 10/08 4/09 7/09 10/09 4/10 4/11 1/09 1/08 1/11 10/11 4/12 1/12 7/11 7/10 Columbus MSA Ohio US Columbus MSA Ohio US 3
  5. 5. QUARTERLY ECONOMIC UPDATE | Q2 2012EMPLOYMENT BY COUNTY DELAWARE COUNTY FAIRFIELD COUNTY  Charts on pages 4 and 5 show 11-year trends of Columbus Region employment at the county level, 120.0 200.0 including newly released 2011 totals. 115.0 180.0 Index: 2001 = 100.0  Franklin County accounts for 70% of total regional 110.0 Index: 2001 = 100.0 160.0 105.0 employment, down from 74% in 2001. However, the 100.0 county reversed a near-steady 11-year decline, adding 140.0 95.0 9,910 jobs (1.5%). 90.0 120.0  Columbus Region employment rose 1.7% in 2011 (15,399) 85.0 100.0 vs. U.S. growth of 1.2%. 80.0 75.0  Delaware County employment increased 4.9% in 2010 to 80.0 2011 2010 2008 2009 2004 2006 2001 2002 2005 2007 2003 2011 2010 2003 2004 2008 2002 2006 2009 2001 2005 2007 75,663. This is double its 2001 level.  Licking and Madison also enjoyed better-than-average Delaware Region U.S. Fairfield Region U.S. gains, up 2.9% and 2.8%, respectively.REGIONAL SHARE OF EMPLOYMENT BY COUNTY, FRANKLIN COUNTY KNOX COUNTY2011 120.0 120.0 Other 115.0 115.0 counties in Marion Region Index: 2001 = 100.0 110.0 Index: 2001 = 100.0 110.0 3% 7% Union 105.0 105.0 3% 100.0 100.0 Fairfield 95.0 95.0 4% Licking 90.0 90.0 5% 85.0 85.0 Delaware 80.0 80.0 8% 75.0 75.0 2010 2008 2011 2004 2006 2009 2002 2003 2007 2001 2005 2011 2010 2002 2005 2007 2009 2001 2008 2006 2003 2004 Franklin 70% Franklin Region U.S. Knox Region U.S.Source: Quarterly Census of Employment and Wages, U.S. Bureau of Labor Statistics. Source: Quarterly Census of Employment and Wages, U.S. Bureau of Labor Statistics. 4
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