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Boyle County Employment Report, Q2 2011

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This is the Boyle County, Kentucky Employment Report for Q1 2011, compiled by the Boyle County Industrial Foundation and released by the Danville/Boyle County Economic Development Partnership.

This is the Boyle County, Kentucky Employment Report for Q1 2011, compiled by the Boyle County Industrial Foundation and released by the Danville/Boyle County Economic Development Partnership.

Published in: Business, Real Estate

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  • 1. ECONOMIC DEVELOPMENT PARTNERSHIP Boyle County Quarterly Employment Report: Q2, 2011Based upon the confidential quarterly report provided to the Boyle County Industrial Foundation(BCIF), the Danville/Boyle County Economic Development Partnership (EDP) presents toour Partners and community stakeholders the following general employment data for Boyle Countyfor Q2 2011 (April 1 – June 30) with comparisons to the past quarter as well as to the previous threeyears.INDUSTRIAL EMPLOYMENT: The BCIF monitored employment for 17 Boyle Countyindustries that employ 25 or more employees. Philips Lighting Company was retained in thisquarter’s report solely to maintain consistent data for the previous quarter, but will no longer beincluded as its employment has fallen below the threshold level for inclusion. Employment dataamong those industries is self-reported through the Danville/Boyle County Industrial Council,composed of local industrial managers. Current and past quarter employment levels are as follows:Q2—2011 Q1—2011 Net Change3,039 3,050 - 11On the whole, Boyle County’s industrial employment remained flat in Q2. The second quarterconcludes the traditionally lower-volume period experienced in the first half of the calendar year bymany of Boyle County’s industrial employers. One local manufacturer continued its reducedproduction and employment until excess inventory is exhausted. However, this same companyplans to make a large capital investment in its Danville facility over the next three (3) years, which isa strong sign of its local commitment. At the same time, one of Boyle County’s larger distributioncenters continues hiring to keep pace with its business volume, while another local manufacturerreceived corporate approval and state incentives to expand its Danville plant through constructionof a new addition that will increase its production capacity. Also, the new Meggitt Aircraft BrakingSystems’ distribution center began the hiring process for its management team and initiated interiorreconstruction of its facility at 120 Corporate Drive.Comparing the status of Boyle County’s industrial employment as of June 30, 2011, with previousemployment levels in the previous three years (2008 – 2010), Q2 yields the follow comparisons:Q2—2011 Q2—2010 Q2—2009 Q2—20083,039 3,208 3,382 3,811Net Changes: - 169 - 343 - 772With BCIF’s compilation of consistent job data on a quarterly basis since 2008, it is now possible toview the local impact to industrial jobs since the downturn of the national economy began in that
  • 2. Page 2year. Because the slide in local job losses commenced after Q2 2008, the three-year differential of772 less jobs in Boyle’s industrial sector is the extent of the impact to the industries monitored inthis report.NON-INDUSTRIAL EMPLOYMENT: The BCIF tracks the self-reported employment ofeleven (11) non-industrial employers, in both private and public sectors, with over 100 employees.BCIF tracks health care, retail, education, banking, government, and transportation sectors. Currentand past quarter employment levels are as follows:Q2—2011 Q1—2011 Net Change3,818 3806 +12Likewise, non-industrial employment remained level.TOTAL OVERALL EMPLOYMENT: In light of the above statistics, the total employmentnumbers for Boyle County in Q2 2011 is as follows:Q2—2011 Q1—2011 Net Change6,857 6,856 +1OVERALL LABOR FORCE STATISTICS: For all sectors of the Boyle County economy, theKentucky Office of Employment & Training reports the following data for Boyle Countians in themost recent quarters available: Jun ’11 (Q2) Mar ’11 (Q1) ChangeEmployed 11,588 11,364 + 224Unemployed 1,585 1,524 + 61Unemployment Rate 12.0% 11.8% - 0.2 %The June 2011 labor force statistics show a promising rate of growth of employment in all BoyleCounty jobs that is almost four times that of unemployment.Unemployment rates in surrounding counties for June 2011 were as follows: Mercer, 10.2%;Garrard, 10.4%; Lincoln, 12.6%; Casey, 10.1%; Marion, 10.0%; and Washington, 10.3%. A map ofunemployment rates for all Kentucky counties for June 2011 may be viewed at:http://www.workforcekentucky.ky.gov/admin/uploadedPublications/1131_June_11_UR.pdf.An annual comparison of unemployment rates reveals the following:
  • 3. Page 3 Jun ’11 Jun ‘10 ChangeUnemployment Rate 12.0% 12.6% - 0.6%A map of changes in unemployment rates for all Kentucky counties from June 2010 to June 2011may be viewed at:http://www.workforcekentucky.ky.gov/admin/uploadedPublications/1132_June_10_to_June_11_Change.pdf.Please contact the EDP if you have any questions or have any suggestions about how this quarterlyreport can be more meaningful to you, your organization, or agency.For more information:Jody A. Lassiter, JDPresident/CEODanville/Boyle County Economic Development Partnership(859) 236-2805jody@betterindanville.com