In the second quarter of 2010, the Cleveland Plus region showed signs of economic improvement with a decline in the unemployment rate, an increase of over 55,000 jobs, lower unemployment claims, and projected growth of 3.1% in gross regional product for 2010. The Cleveland Plus region is also performing more similarly to the U.S. during the current recession than in the past due to economic diversification. The region experienced employment growth in the manufacturing and service sectors between January and June 2010.
The document discusses the job market in 2012 based on a report from Adecco. It summarizes that while 2011 saw gradual job growth, more significant growth is needed in 2012 to make up jobs lost in the recession. It outlines areas of expected growth like professional services, healthcare, manufacturing, and temporary jobs. It also discusses challenges like the need for more education and skills training as jobs increasingly require higher education levels.
Q1 2011 Manpower Employment Outlook Surveynwhitebdm
This document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for the first quarter of 2011. Some key points:
1) The seasonally adjusted net employment outlook for the US is +9%, suggesting a slight increase in hiring compared to the previous quarter and year.
2) Hiring outlooks are positive across all regions, with the Midwest and South having the strongest prospects. The West saw the biggest quarterly increase in outlook.
3) 11 of 13 industry sectors expect to add jobs, including mining, manufacturing, transportation, retail, and services. Construction and government expect stable employment.
4) The Midwest outlook is strongest at +10
The health care industry in New Jersey contributes significantly to the state's economy and employment growth. It has added over 158,000 jobs since 1990 at an annual growth rate of 2.5%. Three key components drive this industry - ambulatory health care services, hospitals, and nursing/residential care facilities. Ambulatory health care is now the largest employer, surpassing hospitals. The industry is projected to continue strong growth, adding over 56,000 more jobs by 2018. Occupations like registered nurses, home health aides, and medical assistants will be in high demand.
This document provides context and background for a comparative study of employment relations in New Zealand, Malaysia, and Thailand. It discusses how globalization is impacting employment flexibility and competitiveness. The three countries were chosen for the study because they rely on foreign direct investment, have adopted industrial relations policies to attract investment, and have different cultural and historical contexts. The document presents frameworks for comparative industrial relations studies and provides background on the colonial and demographic histories of New Zealand and Malaysia to help understand their current employment relations environments.
The unemployment rate edged down to 7.9% in October from 8.0% in September. Employment remained virtually unchanged for the second consecutive month as full-time gains offset part-time losses. Total employment has risen by 375,000 (+2.2%) since October 2009, with strength in the first half of 2010, but monthly gains have averaged only 5,700 over the last four months. The number of private sector employees increased while self-employment declined.
2011 was marked by significant economic, social, ecological, technological and political upheaval worldwide that impacted national economies. The U.S. saw steady but cautious economic recovery in 2011, with businesses beginning to invest and hire slowly while unemployment rates declined gradually. However, full recovery will take many years as challenges remain for both workers and employers. Key factors like healthcare, IT, and skilled labor demand will drive continued job growth in 2012, though the path remains uncertain.
2009 Dec Monthly Review Of The Tx Economyguest2de618
The document summarizes employment trends in Texas and its major metropolitan areas from November 2008 to November 2009. Some key points:
- Texas lost 272,100 nonfarm jobs (2.5% decline) over this period, compared to a 4.65 million job loss (3.4% decline) nationally.
- The state unemployment rate rose from 5.4% to 8%, lower than the national increase from 6.8% to 10%.
- Government and education/health services were the only industries that added jobs, while construction, manufacturing, mining and trade saw major declines.
- Only the McAllen metro area saw overall job growth, while the largest cities like Houston, Dallas and
Top 10 Worst Performing Santa Fe Industriesathomasbranch
A handful of different industries claim to be the most important to the Santa Fe economy – tourism, government, construction, financial services, and real estate, to name a few. Although some job claim projections are silly by any measure, for most it depends on whether you define importance as the value of output, number of jobs or wages paid. Each yields a different result.
The document discusses the job market in 2012 based on a report from Adecco. It summarizes that while 2011 saw gradual job growth, more significant growth is needed in 2012 to make up jobs lost in the recession. It outlines areas of expected growth like professional services, healthcare, manufacturing, and temporary jobs. It also discusses challenges like the need for more education and skills training as jobs increasingly require higher education levels.
Q1 2011 Manpower Employment Outlook Surveynwhitebdm
This document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for the first quarter of 2011. Some key points:
1) The seasonally adjusted net employment outlook for the US is +9%, suggesting a slight increase in hiring compared to the previous quarter and year.
2) Hiring outlooks are positive across all regions, with the Midwest and South having the strongest prospects. The West saw the biggest quarterly increase in outlook.
3) 11 of 13 industry sectors expect to add jobs, including mining, manufacturing, transportation, retail, and services. Construction and government expect stable employment.
4) The Midwest outlook is strongest at +10
The health care industry in New Jersey contributes significantly to the state's economy and employment growth. It has added over 158,000 jobs since 1990 at an annual growth rate of 2.5%. Three key components drive this industry - ambulatory health care services, hospitals, and nursing/residential care facilities. Ambulatory health care is now the largest employer, surpassing hospitals. The industry is projected to continue strong growth, adding over 56,000 more jobs by 2018. Occupations like registered nurses, home health aides, and medical assistants will be in high demand.
This document provides context and background for a comparative study of employment relations in New Zealand, Malaysia, and Thailand. It discusses how globalization is impacting employment flexibility and competitiveness. The three countries were chosen for the study because they rely on foreign direct investment, have adopted industrial relations policies to attract investment, and have different cultural and historical contexts. The document presents frameworks for comparative industrial relations studies and provides background on the colonial and demographic histories of New Zealand and Malaysia to help understand their current employment relations environments.
The unemployment rate edged down to 7.9% in October from 8.0% in September. Employment remained virtually unchanged for the second consecutive month as full-time gains offset part-time losses. Total employment has risen by 375,000 (+2.2%) since October 2009, with strength in the first half of 2010, but monthly gains have averaged only 5,700 over the last four months. The number of private sector employees increased while self-employment declined.
2011 was marked by significant economic, social, ecological, technological and political upheaval worldwide that impacted national economies. The U.S. saw steady but cautious economic recovery in 2011, with businesses beginning to invest and hire slowly while unemployment rates declined gradually. However, full recovery will take many years as challenges remain for both workers and employers. Key factors like healthcare, IT, and skilled labor demand will drive continued job growth in 2012, though the path remains uncertain.
2009 Dec Monthly Review Of The Tx Economyguest2de618
The document summarizes employment trends in Texas and its major metropolitan areas from November 2008 to November 2009. Some key points:
- Texas lost 272,100 nonfarm jobs (2.5% decline) over this period, compared to a 4.65 million job loss (3.4% decline) nationally.
- The state unemployment rate rose from 5.4% to 8%, lower than the national increase from 6.8% to 10%.
- Government and education/health services were the only industries that added jobs, while construction, manufacturing, mining and trade saw major declines.
- Only the McAllen metro area saw overall job growth, while the largest cities like Houston, Dallas and
Top 10 Worst Performing Santa Fe Industriesathomasbranch
A handful of different industries claim to be the most important to the Santa Fe economy – tourism, government, construction, financial services, and real estate, to name a few. Although some job claim projections are silly by any measure, for most it depends on whether you define importance as the value of output, number of jobs or wages paid. Each yields a different result.
Canadian Labour Force Survey September 2010pdfcstedham
The labour force survey for September 2010 found:
- Employment changed little as full-time gains offset part-time losses.
- The unemployment rate edged down 0.1 percentage points to 8.0% as fewer people, especially youth, participated in the labour market.
- Employment declined in Ontario and a few other provinces while increasing in Quebec, Newfoundland and Labrador, and Nova Scotia.
Employment continued to edge up in June (+80,000), and the
unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor
Statistics reported today. Professional and business services added jobs,
and employment in other major industries changed little over the month.
The Latvian Economy - No 7, September 14, 2011Swedbank
1) Household incomes in Latvia are rising as employment and wages increase while unemployment decreases, improving consumer purchasing power.
2) This rise in incomes is fueling private consumption growth, though household savings remain low and Latvians remain exposed to economic shocks.
3) For sustainable economic growth, households must balance consumption with increasing precautionary savings given global and local economic uncertainty.
The Massachusetts commercial real estate market showed signs of stabilization in the first quarter of 2010. While unemployment remained high at 9.3% and many jobs have been lost since 2008, the education and healthcare sectors added jobs. The Boston area saw a higher vacancy rate of 17.7% due to losses in finance and professional services, but rent declines slowed. Cambridge fared better with lower vacancy rates and stabilizing rents due to education, biotech and tech tenants. Conditions in the suburbs changed little from the previous quarter. Overall, after significant losses, the market appears to have reached a bottom.
The document summarizes the findings of a survey of 818 American workers about their views on the economy and unemployment. Key findings include:
1) American workers have a grim outlook on the economy and labor market, with most expecting continued recession or depression and high unemployment.
2) The recession has had a major financial impact on most Americans, especially the unemployed, with many taking on debt and making lifestyle changes.
3) Americans blame the recession and policies of former presidents Bush and Obama for high unemployment, but few blame the unemployed themselves.
4) Most Americans report that they, family, or friends have lost jobs in the past three years, showing the widespread impact of job losses.
FHO Partners YE 2009 MarketWatch Reportfhopartners
The commercial real estate market in the Boston area continued to soften in 2009 due to the effects of the recession. Signs of stabilization are emerging but any significant recovery is not expected until late 2010 or early 2011 at the earliest. Unemployment rates in both the US and Massachusetts increased substantially in 2009, remaining high at 9.7% and 9.4% respectively. The oversupply of available office space in Greater Boston led to declining rental rates and absorption in 2009 and this challenging environment is expected to continue into 2010 and 2011 until more substantial job growth occurs.
The document discusses the challenges of balancing regulatory burden on micro- and small enterprises (MSEs) with protecting workers in MSEs. It notes that MSEs employ a major share of workers globally but often operate informally without legal protections. Some key points:
1) Many countries exempt MSEs from certain labor laws or have parallel legal regimes with lower standards to reduce regulatory costs, but this leaves workers unprotected and can discourage business growth.
2) Low compliance with labor laws among MSEs is also due to lack of enforcement, legal exemptions, and widespread informality. Representation of MSE interests is also often insufficient.
3) Reforms to improve the business environment can boost job creation, but their
The document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for Q1 2012. Key findings include:
1) The seasonally adjusted net employment outlook is +9%, suggesting a slight increase in hiring compared to Q4 2011 but a relatively stable outlook compared to a year ago.
2) All four US regions report a positive outlook, with the Midwest region reporting the strongest at +10% after seasonal adjustments.
3) Twelve of thirteen industry sectors report a positive outlook, led by Mining (+16%) and Leisure & Hospitality (+14%). Construction expects a decline in hiring.
4) The Midwest outlook of +6% increases
FHO Partners Mid Year 2009 Market Report provides an overview of the office, laboratory and R&D markets in Greater Boston, how they have performed year-to-date and what you can expect for the rest of 2009.
The document summarizes how Northeast Ohio, and Cleveland in particular, has established itself as a leading medical innovation hub known as "the Medical Capital." It notes that the region is home to over 600 medical organizations including major hospitals and research institutions, and has seen significant growth in the biomedical industry and healthcare jobs. The Medical Capital attracts billions in funding and investment for healthcare companies and drives billions in economic impact through the highly skilled jobs and industry it supports.
The document discusses green industries and renewable energy in the Cleveland Plus region. It notes that many states are developing policies around renewable energy use, increasing demand for products like wind turbines and solar panels. These products require the same materials, such as steel, composites, coatings and bearings, that previously drove Northeast Ohio's economy in the 20th century. The document aims to explore what green industries could mean for the future of the Cleveland Plus region.
Northeast Ohio: Transformation Fueled by Innovation in Cleveland Plus RegionTeam NEO
The document summarizes economic signs of recovery in the Midwest, focusing on Northeast Ohio and Chicago. Key points:
1) Northeast Ohio is transforming its economy through innovation in healthcare, bioscience, and advanced manufacturing. This is fueled by major institutions like the Cleveland Clinic and a state initiative that provides funding for promising projects.
2) Chicago's office market is seeing signs of recovery, with new construction leasing well and sublease space declining, though availability remains high. Industrial space is overbuilt but some companies are looking to expand.
3) Both regions have existing industry clusters and expertise that are creating new economic opportunities through diversification into fields like alternative energy and advanced materials.
The document discusses green industries and renewable energy in the Cleveland Plus region. It notes that states are developing policies around renewable energy use, increasing demand for products like wind turbines and solar panels. These products require the same materials, such as steel, composites, coatings and bearings, that previously drove Northeast Ohio's economy in the 20th century. The document suggests green industries could provide new opportunities for the region's economy.
As part of Team NEO’s ongoing international business attraction efforts, an International Session was held on March 16, 2011. The presentation provides an update on activities from Cleveland Plus Business Europe.
16 counties, 2 million talented workers, and $170 billion GRP. The document promotes the Cleveland Plus region for business, highlighting its diverse economy, corporate-friendly tax structure, low cost of living, and access to US and Canadian markets.
Team NEO is an economic development organization that works to attract businesses to expand and invest in the 16-county Cleveland Plus region. It does this by generating business attraction opportunities, managing leads with state and local partners, and promoting regional teamwork. Since 2007, Team NEO's efforts have resulted in over 3,200 new jobs and $100 million in new annual payroll for the region through 34 new company expansions or relocations across diverse industries like bioscience, advanced manufacturing, and corporate services. Team NEO is funded through regional chambers of commerce and delivers a strong return on investment for its partners and the regional economy.
This document summarizes a Team Northeast Ohio regional economic session that took place on October 14, 2010. The session objectives were to help business leaders understand the importance of promoting Northeast Ohio (NEO), feel confident doing so, and leave energized and ready to engage companies in promoting the region. The session provided an overview of Team NEO's work attracting new companies and jobs to NEO, highlighted transformational development projects across the region, and discussed ways that regional businesses and executives can help promote NEO to customers, suppliers, and employees. Attendees participated in an interactive discussion about what they love about NEO and how to effectively sell the region to outside investors.
This document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for the first quarter of 2011. Some key points:
1) The seasonally adjusted net employment outlook for the US is +9%, suggesting a slight increase in hiring compared to the previous quarter and year.
2) Hiring outlooks are positive across all regions, with the Midwest and South having the strongest prospects. The West saw the biggest quarterly increase in outlook.
3) 11 of 13 industry sectors expect to add jobs, including mining, manufacturing, transportation, retail, and services. Construction and government expect stable employment.
4) The Midwest outlook is strongest at +10
The document provides a summary of a survey of over 18,000 employers in the United States about their hiring outlook for Q1 2011. Key findings include:
- The seasonally adjusted net employment outlook is +9%, the most promising since Q4 2008, suggesting a slight increase in hiring.
- Hiring outlooks are positive in 11 of 13 industry sectors and all four regions surveyed. The Midwest and South have the strongest outlooks.
- Compared to Q4 2010, employers expect slight increases in hiring in most regions and industries, with the largest jump in the West. Outlooks are also higher than one year ago across all regions.
The quarterly report summarizes employment data for Boyle County, Kentucky for Q3 2010. Industrial employment increased by 121 jobs from the previous quarter to a total of 3,329 jobs. Non-industrial employment decreased by 45 jobs to 4,137 jobs. The overall employment increased by 76 jobs from the previous quarter to a total of 7,466 jobs due to growth in the industrial sector offsetting losses in non-industrial jobs. The unemployment rate decreased slightly from the previous quarter to 11.8%.
Canadian Labour Force Survey September 2010pdfcstedham
The labour force survey for September 2010 found:
- Employment changed little as full-time gains offset part-time losses.
- The unemployment rate edged down 0.1 percentage points to 8.0% as fewer people, especially youth, participated in the labour market.
- Employment declined in Ontario and a few other provinces while increasing in Quebec, Newfoundland and Labrador, and Nova Scotia.
Employment continued to edge up in June (+80,000), and the
unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor
Statistics reported today. Professional and business services added jobs,
and employment in other major industries changed little over the month.
The Latvian Economy - No 7, September 14, 2011Swedbank
1) Household incomes in Latvia are rising as employment and wages increase while unemployment decreases, improving consumer purchasing power.
2) This rise in incomes is fueling private consumption growth, though household savings remain low and Latvians remain exposed to economic shocks.
3) For sustainable economic growth, households must balance consumption with increasing precautionary savings given global and local economic uncertainty.
The Massachusetts commercial real estate market showed signs of stabilization in the first quarter of 2010. While unemployment remained high at 9.3% and many jobs have been lost since 2008, the education and healthcare sectors added jobs. The Boston area saw a higher vacancy rate of 17.7% due to losses in finance and professional services, but rent declines slowed. Cambridge fared better with lower vacancy rates and stabilizing rents due to education, biotech and tech tenants. Conditions in the suburbs changed little from the previous quarter. Overall, after significant losses, the market appears to have reached a bottom.
The document summarizes the findings of a survey of 818 American workers about their views on the economy and unemployment. Key findings include:
1) American workers have a grim outlook on the economy and labor market, with most expecting continued recession or depression and high unemployment.
2) The recession has had a major financial impact on most Americans, especially the unemployed, with many taking on debt and making lifestyle changes.
3) Americans blame the recession and policies of former presidents Bush and Obama for high unemployment, but few blame the unemployed themselves.
4) Most Americans report that they, family, or friends have lost jobs in the past three years, showing the widespread impact of job losses.
FHO Partners YE 2009 MarketWatch Reportfhopartners
The commercial real estate market in the Boston area continued to soften in 2009 due to the effects of the recession. Signs of stabilization are emerging but any significant recovery is not expected until late 2010 or early 2011 at the earliest. Unemployment rates in both the US and Massachusetts increased substantially in 2009, remaining high at 9.7% and 9.4% respectively. The oversupply of available office space in Greater Boston led to declining rental rates and absorption in 2009 and this challenging environment is expected to continue into 2010 and 2011 until more substantial job growth occurs.
The document discusses the challenges of balancing regulatory burden on micro- and small enterprises (MSEs) with protecting workers in MSEs. It notes that MSEs employ a major share of workers globally but often operate informally without legal protections. Some key points:
1) Many countries exempt MSEs from certain labor laws or have parallel legal regimes with lower standards to reduce regulatory costs, but this leaves workers unprotected and can discourage business growth.
2) Low compliance with labor laws among MSEs is also due to lack of enforcement, legal exemptions, and widespread informality. Representation of MSE interests is also often insufficient.
3) Reforms to improve the business environment can boost job creation, but their
The document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for Q1 2012. Key findings include:
1) The seasonally adjusted net employment outlook is +9%, suggesting a slight increase in hiring compared to Q4 2011 but a relatively stable outlook compared to a year ago.
2) All four US regions report a positive outlook, with the Midwest region reporting the strongest at +10% after seasonal adjustments.
3) Twelve of thirteen industry sectors report a positive outlook, led by Mining (+16%) and Leisure & Hospitality (+14%). Construction expects a decline in hiring.
4) The Midwest outlook of +6% increases
FHO Partners Mid Year 2009 Market Report provides an overview of the office, laboratory and R&D markets in Greater Boston, how they have performed year-to-date and what you can expect for the rest of 2009.
The document summarizes how Northeast Ohio, and Cleveland in particular, has established itself as a leading medical innovation hub known as "the Medical Capital." It notes that the region is home to over 600 medical organizations including major hospitals and research institutions, and has seen significant growth in the biomedical industry and healthcare jobs. The Medical Capital attracts billions in funding and investment for healthcare companies and drives billions in economic impact through the highly skilled jobs and industry it supports.
The document discusses green industries and renewable energy in the Cleveland Plus region. It notes that many states are developing policies around renewable energy use, increasing demand for products like wind turbines and solar panels. These products require the same materials, such as steel, composites, coatings and bearings, that previously drove Northeast Ohio's economy in the 20th century. The document aims to explore what green industries could mean for the future of the Cleveland Plus region.
Northeast Ohio: Transformation Fueled by Innovation in Cleveland Plus RegionTeam NEO
The document summarizes economic signs of recovery in the Midwest, focusing on Northeast Ohio and Chicago. Key points:
1) Northeast Ohio is transforming its economy through innovation in healthcare, bioscience, and advanced manufacturing. This is fueled by major institutions like the Cleveland Clinic and a state initiative that provides funding for promising projects.
2) Chicago's office market is seeing signs of recovery, with new construction leasing well and sublease space declining, though availability remains high. Industrial space is overbuilt but some companies are looking to expand.
3) Both regions have existing industry clusters and expertise that are creating new economic opportunities through diversification into fields like alternative energy and advanced materials.
The document discusses green industries and renewable energy in the Cleveland Plus region. It notes that states are developing policies around renewable energy use, increasing demand for products like wind turbines and solar panels. These products require the same materials, such as steel, composites, coatings and bearings, that previously drove Northeast Ohio's economy in the 20th century. The document suggests green industries could provide new opportunities for the region's economy.
As part of Team NEO’s ongoing international business attraction efforts, an International Session was held on March 16, 2011. The presentation provides an update on activities from Cleveland Plus Business Europe.
16 counties, 2 million talented workers, and $170 billion GRP. The document promotes the Cleveland Plus region for business, highlighting its diverse economy, corporate-friendly tax structure, low cost of living, and access to US and Canadian markets.
Team NEO is an economic development organization that works to attract businesses to expand and invest in the 16-county Cleveland Plus region. It does this by generating business attraction opportunities, managing leads with state and local partners, and promoting regional teamwork. Since 2007, Team NEO's efforts have resulted in over 3,200 new jobs and $100 million in new annual payroll for the region through 34 new company expansions or relocations across diverse industries like bioscience, advanced manufacturing, and corporate services. Team NEO is funded through regional chambers of commerce and delivers a strong return on investment for its partners and the regional economy.
This document summarizes a Team Northeast Ohio regional economic session that took place on October 14, 2010. The session objectives were to help business leaders understand the importance of promoting Northeast Ohio (NEO), feel confident doing so, and leave energized and ready to engage companies in promoting the region. The session provided an overview of Team NEO's work attracting new companies and jobs to NEO, highlighted transformational development projects across the region, and discussed ways that regional businesses and executives can help promote NEO to customers, suppliers, and employees. Attendees participated in an interactive discussion about what they love about NEO and how to effectively sell the region to outside investors.
This document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for the first quarter of 2011. Some key points:
1) The seasonally adjusted net employment outlook for the US is +9%, suggesting a slight increase in hiring compared to the previous quarter and year.
2) Hiring outlooks are positive across all regions, with the Midwest and South having the strongest prospects. The West saw the biggest quarterly increase in outlook.
3) 11 of 13 industry sectors expect to add jobs, including mining, manufacturing, transportation, retail, and services. Construction and government expect stable employment.
4) The Midwest outlook is strongest at +10
The document provides a summary of a survey of over 18,000 employers in the United States about their hiring outlook for Q1 2011. Key findings include:
- The seasonally adjusted net employment outlook is +9%, the most promising since Q4 2008, suggesting a slight increase in hiring.
- Hiring outlooks are positive in 11 of 13 industry sectors and all four regions surveyed. The Midwest and South have the strongest outlooks.
- Compared to Q4 2010, employers expect slight increases in hiring in most regions and industries, with the largest jump in the West. Outlooks are also higher than one year ago across all regions.
The quarterly report summarizes employment data for Boyle County, Kentucky for Q3 2010. Industrial employment increased by 121 jobs from the previous quarter to a total of 3,329 jobs. Non-industrial employment decreased by 45 jobs to 4,137 jobs. The overall employment increased by 76 jobs from the previous quarter to a total of 7,466 jobs due to growth in the industrial sector offsetting losses in non-industrial jobs. The unemployment rate decreased slightly from the previous quarter to 11.8%.
Utah's economy grew more rapidly than the national economy in 2011, with employment increasing 2.3% compared to 0.9% nationally. The unemployment rate fell to 7.7% in Utah. Economic growth is expected to accelerate in 2012, with a forecasted employment increase of 2.7% and unemployment declining further to 6.7%. Construction activity increased slightly in 2011 from historic lows and is expected to continue a modest recovery in 2012. Tourism and exports also increased in 2011 and are forecasted to continue growing in 2012. The energy sector continued to rebound from declines in 2009-2010. Mineral production values increased 7% in 2011 and are expected to remain stable in 2012.
The document discusses the improving but still recovering US economy and job market. It notes that while some key economic indicators like GDP, corporate profits, and stock market gains have improved since the recession, unemployment remains high at over 9%. It also notes that full recovery to pre-recession employment levels may still be years away. Companies are finding ways to produce the same output with fewer employees, so demand will need to exceed pre-recession levels before headcounts increase past previous peaks.
This document summarizes key points from an economic analysis:
1) Negative economic growth is expected in the US due to declining productivity, elevated inventory levels, and falling real wages.
2) Productivity fell in the first half of 2011, leading to rising unit labor costs and the potential for future layoffs.
3) Inventory levels rose substantially since 2009 but are now at elevated, undesired levels, setting the stage for production slowdowns.
4) Real wages have fallen over the past year, reducing consumer income and spending which will drag on GDP growth.
5) Recent increases in the money supply likely reflect a shift to low-yield assets rather than new economic activity.
This document provides a summary of the Manpower Employment Outlook Survey results for the United States in Q4 2010. Some key points:
- 15% of US employers plan to add staff in Q4 2010 while 11% plan reductions, for a net employment outlook of +4%. This is higher than Q4 2009 but lower than Q3 2010.
- Outlook is strongest in the Northeast and South, and weakest in the West. Midwest and South expect stable hiring while Northeast and West expect slight decreases compared to Q3 2010.
- 11 of 13 industry sectors have positive outlooks for Q4 2010. Construction and government sectors expect declines. Education/health services most upbeat versus Q3 2010
Employers in the US expect stable hiring in Q4 2010 compared to Q3 2010. The seasonally adjusted net employment outlook is +5%. Hiring is expected to increase in most regions and industries compared to one year ago. The outlook is strongest in the Northeast and South. Some industries like construction expect declines while education/health and leisure/hospitality expect gains.
Employers in the US expect stable hiring in Q4 2010 compared to Q3 2010. The seasonally adjusted net employment outlook is +5%. Hiring is expected to increase in most regions and industries compared to one year ago. The outlook is strongest in the Northeast and South. Some sectors like construction expect declines while education and health services expect gains.
The document provides a summary of the Manpower Employment Outlook Survey results for Q1 2010 in the United States. Key points:
1) 12% of US employers expect to add staff in Q1 2010 while 12% expect declines, resulting in a net employment outlook of 0%. This is weaker than one year ago.
2) By region, the outlook is strongest in the South at +2% and weakest in the West at -2%. The Midwest is at -1% and Northeast is at -3%.
3) Employers in 7 of 13 industry sectors expect increases, led by nondurable goods manufacturing, wholesale/retail, and professional services. Construction and transportation expect declines
The Linneman Letter: Volume 10 Issue 2Dan Hutchins
Historically, you need about six quarters of prolonged profit growth before companies hire aggressively. A robust job recovery is underway, with profitable employers finally replacing employees who died, retired, took extended maternity leave, or went back to school. Unfortunately, many small firms were needlessly destroyed as the government artificially channeled scarce capital to large, politically-connected firms. As we have said repeatedly, “too big to fail” is code for “too small to succeed.”
Productivity growth may have peaked, leading employers to find they need more staff to maintain operations. With corporate profits at record highs, companies can afford to hire more workers even with modest GDP growth of around 2%. If hiring increases as expected, it could boost the economy in the short-term by adding more buying power during the holiday season. While the relationship between employment growth and GDP growth is complex, increased employment likely helped lift the UK out of recession recently and may provide upside potential for both the US economy and labor market in 2013.
The year 2010 saw major economies registering modest growth and India on a balanced growth path. India story gained primacy at the beginning of 2010, with the changing market scenarios across the world.
The outlook is more or less stable across sectors over the
months. The optimism of early 2010 was further
strengthened due to a positive economic outlook, but the
recent political developments marked with scandals have
made an impact on the overall business confidence, albeit
marginal. Employment generation has remained stable and
upbeat in most of the sectors. However, continuous
inflation, price of raw materials and intermediate industrial
products, scams involving ministers and so on have created
some caution in the minds of entrepreneurs. The
movement of skilled workforce within the sector continued
during the 4th Quarter of 2010. The change in
employment across sectors is given in the table below.
The employment scenario during any specific time period
needs to be viewed from the perspective of various
activities and at several fronts, for a considerable period.
This section has presented the estimated employment
numbers with expectations for different sectors of the
Indian economy. It also lists some of the issues that might
have an impact on the employment scenario, either directly
or indirectly. This will help correlate between the trends
observed regarding employment and economic as well as
political fundamentals.
The BFSI sector is expected to add 116,240
jobs in 2011.
The stable and positive sentiment at the economic front continues
to help the BFSI sector to grow further during the 4th Quarter of
2010. Responses from the BFSI companies indicate that almost
similar condition will prevail during the first two quarters of 2011
as well as for the entire year. The sector is cautiously optimistic
about growth of employment numbers.
The raise of Repo and Reverse Repo rates by RBI on 25th January
2011 has caused an increase of Repo rate by 175 basis points and
Reverse Repo rate by 225 basis points, since March 2010. CRR has
increased by 100 basis points during the same time.
Inflation has remained a cause for concern over the past months
and is expected to continue for a few more months to come.
However, the response to structural causes of inflation needs to be
through reallocation of resources across sectors. Short term
measures like interest rate hikes, though manage to contain
inflation to a moderate level are not strong enough to sustain
growth. .
The recent RBI report on the Micro Finance sector has
recommended several checks to resolve the issues and improve
transparency. However, observations have also been made
regarding the “Recovery Culture” in the financial sector and its
adverse effects on the customers. This is an important observation
made by RBI, in view of the recent measures taken by the Andhra
Pradesh Government to regulate the recovery of loans from the
small borrowers by the MFIs. However, the drive towards financial
inclusion will certainly play a positive role in employment
generation in this sector.
Bank credit to commercial sector is increasing steadily, which is
one of the major driving forces for the banking sector in the
country.
Insurance sector, both life and general, has witnessed a positive
sentiment in the 4th Quarter as compared to the previous ones
and is expected to do better in coming months.
The Education, Training and Consulting sector
is expected to add 107,500 jobs in 2011.
Education sector continued to contribute significantly to the
employment base of the country during the last Quarter of 2010.
The sector is expected to grow at similar rate during the first
couple of Quarters of 2011. However, the expectation regarding
growth for the entire calendar year of 2011 is slightly lower
compared to the first two Quarters of the year.
The regulatory ambiguity still remains the biggest impediment that
holds back the sector’s transformation into one of country’s
largest industry
The document summarizes how government spending cuts due to sequestration may temporarily create opportunities for employers to hire experienced professionals laid off from affected sectors. While sequestration will negatively impact the economy in the short-term, the types of jobs cut tend to be filled by highly trained people in high-demand fields, and historically such layoffs have had only short-term impacts on employment as these workers are quickly rehired elsewhere. This means companies may have a short window to recruit experienced engineering, IT, accounting, and project management professionals entering the job market due to sequestration cuts.
This document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for Q3 2011. Some key points:
- 20% of employers expect to add staff, 8% expect reductions, for a net employment outlook of +12%. Seasonally adjusted, the outlook is +8%.
- All four regions report positive outlooks, with the Northeast strongest at +10% seasonally adjusted. Outlooks are up slightly year-over-year.
- 11 of 13 industry sectors have positive outlooks, led by Leisure/Hospitality (+27%). Construction, Manufacturing, Trade expect moderate increases.
- In the Midwest, the outlook is
This document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for Q3 2011. Key points:
- The seasonally adjusted net employment outlook is +8%, suggesting stable hiring compared to Q2 2011. All four regions report positive outlooks.
- 20% of employers expect to add staff, 8% expect declines, and 69% expect no change. The outlook is slightly higher than a year ago.
- Industries with strongest outlooks include Leisure/Hospitality (+27%), Mining (+25%), and Wholesale/Retail Trade (+20%). Outlooks are slightly negative for Government (-1%) and Education/Health Services (-
We find that low-wage job creation was not simply a characteristic of the first phase of the recovery, but rather a pattern that has persisted for more than four years now. Deep into the recovery, job growth is still heavily concentrated in lower-wage industries.
Turek - regional economic outlook march 3 2011 finallynchburg
This document summarizes economic data about the Lynchburg Metropolitan Statistical Area (MSA) from 2007-2010. It finds that while the national economy and Virginia as a whole recovered in 2010, the Lynchburg MSA continued losing jobs. Unemployment remains high in the region as many workers have become discouraged. New business startups and building permits are increasing but remain below pre-recession levels. The cost of living in Lynchburg remains relatively low, but the housing market shows lingering weakness. The regional economy depends on a small number of industries and remains vulnerable to national economic fluctuations.
The document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for Q2 2011. Some key points:
- The seasonally adjusted net employment outlook is +8%, suggesting stable hiring compared to Q1 2011. This is slightly higher than one year ago.
- All four regions report a positive outlook of +8%. Hiring plans are stable in the Northeast, South, and West, while the outlook declined slightly in the Midwest.
- Thirteen sectors surveyed all have positive outlooks, led by Leisure/Hospitality (+21%) and Mining (+21%). Durable/Nondurable manufacturing expect moderate increases while most other sectors anticipate slight
The document summarizes the results of a survey of over 18,000 employers in the United States about their hiring outlook for Q2 2011. Some key points:
- The seasonally adjusted net employment outlook is +8%, suggesting stable hiring compared to Q1 2011. This is slightly higher than one year ago.
- All four regions report a positive outlook of +8%. Hiring plans are stable in the Northeast, South, and West, while the outlook declined slightly in the Midwest.
- Thirteen sectors surveyed all have positive outlooks, led by Leisure/Hospitality (+21%) and Mining (+21%). Durable/Nondurable manufacturing expect moderate increases while most other sectors anticipate slight
Similar to Cleveland Plus Quarterly Economic Indicators (20)
August 30, 2011 JobsOhio launch meeting with JobsOhio representatives - including board member Mark Kvamme - and Team NEO, the region's JobsOhio Network Partner.
The document summarizes economic indicators for Northeast Ohio in Q4 2010. It reports that the region saw improvements over Q4 2009, with manufacturing jobs up almost 10,000 and service sector jobs up 6,000. Unemployment claims and rates decreased from the previous year. John Kasich was elected governor of Ohio and plans to establish JobsOhio to promote economic development. Several development projects were also announced in the region.
The quarterly economic indicators report for Northeast Ohio in Q4 2010 found signs of gradual economic improvement. Manufacturing employment increased by almost 10,000 jobs and services employment increased by 6,000 jobs compared to Q4 2009. The unemployment rate dropped nearly 1% to 9.3% and initial unemployment claims decreased from 7,100 to 5,600 between Q4 2009 and Q4 2010. Republican John Kasich was elected governor of Ohio and plans to establish JobsOhio, a new not-for-profit corporation, to direct economic development and job creation efforts in the state.
ing a commitment to eliminate a burdensome tax system, Ohio in 2005 implemented full-scale, sweeping tax reform.
Ohio's new business taxation model will mean a reduction in tax burden of up to 63 percent by 2010, the first year reform is fully implemented.
Ohio's new taxation system means businesses can:
Reduce operating costs – No tax on inventory or corporate income
Enhance productivity – No tax on investments in machinery and equipment
Attract talent – Shrink labor costs through a 21 percent reduction in personal income tax
Enjoy a level playing field – All companies taxed the same low rate
Boost return on investment – No tax on product sold to customers outside Ohio
Reward entrepreneurship – First $1 million in gross receipts are tax-free; companies with sales between $150,000 and $1 million pay only a $150 flat fee
This document summarizes reasons why Cleveland Plus is an attractive international destination for business. It notes that Cleveland Plus is within 500 miles of over 40% of the US population, has easy airport access, and abundant fresh water resources. It also highlights that nearly 200 European companies have US operations in Cleveland Plus. Several Fortune 500 companies based in Cleveland Plus also have operations in Europe. Cleveland Plus offers lower costs of living and wages compared to other major US metro areas like New York and Chicago. It has a high quality of life and per capita income adjusted for cost of living. Office space rental rates are also significantly lower in Cleveland Plus.
The document summarizes the strengths of the Cleveland Plus region's healthcare and biomedical industries. It notes that Cleveland Plus has over 62 regional hospitals including nationally ranked institutions. Healthcare accounts for $14.6 billion of the region's economy and employs over 230,000 workers. It also has strong nursing and call center workforces as well as universities that produce nearly 3,000 nursing graduates annually. The biomedical sector has grown significantly in recent years and the region has a strong healthcare and manufacturing presence that is driving growth in this industry.
Cleveland Plus has a strong manufacturing base that supports its food production industry. It has over 800 food processing and manufacturing establishments, benefits from its location between agricultural regions and major markets, and has access to fresh water from Lake Erie. The region has nearly 10,000 workers in food batching and packaging and is home to major food companies like Pepsi, Heinz, and JM Smucker. Cleveland Plus has an annual $2 billion food manufacturing industry composed of sectors like grain milling, dairy, and bakeries.
Cleveland, Ohio has a strong presence in the advanced energy sector, with over 350 locations engaged in production, research and development, and support across energy efficiency, alternative fuels, and renewable energy generation. The region provides over a quarter of Ohio's materials engineers, nearly half of its specialized assembly workers, and almost a third of its specialized installers in these industries. Universities in the area offer relevant degree and training programs to support a reliable talent pipeline. The advanced energy industry in Cleveland has grown in recent years and contributes to economic growth in the region.
This chart indicates projection that higher paying jobs will grow faster in Northeast Ohio.
Key: The size of the bubbles in the chart correlates to the size of employment within the occupational group. Vertical scale shows average annual wage, with the gold bar indicating the Northeast Ohio average of $37,800. The horizontal scale shows the anticipated estimated employment change over the next 10 years.
Team NEO Advancing Northeast Ohio's Economy Through Business AttractionTeam NEO
Team NEO works to advance the economy of Northeast Ohio's 16-county Cleveland Plus region by attracting businesses from around the world. They generate and qualify leads for projects in high-growth industries like biomedical and advanced energy. Their marketing campaign promotes the region's strengths like its talented workforce, low costs, and world-class manufacturing capabilities to change perceptions from the rust-belt stereotype. Results show they are improving perceptions and confidence in the regional economy.
September 2009 Cleveland Plus Quarter Economic ReviewTeam NEO
The document summarizes information about the aerospace-related sector in Northeast Ohio. It discusses how the sector has grown significantly over time and now represents 24% of manufacturing in the region. It also notes that Northeast Ohio is home to over 2,300 firms that supply products and services to the aerospace industry, and that the aerospace sector supports higher-paying jobs.
The document summarizes a Team Northeast Ohio event on the state of the region. It includes presentations on economic updates, business investment trends in Northeast Ohio, and a discussion between mayors of major cities in the region. Business attraction efforts have had some successes but the region still faces challenges in transitioning its economy and reducing unemployment disparities with the national average. Regional collaboration between communities is viewed as important for Northeast Ohio's continued economic development.
The document summarizes an agenda for an international business attraction summit. It discusses Team NEO's role in attracting businesses to Northeast Ohio through generating leads, executing on leads, and promoting regional collaboration. It outlines Team NEO's strategies, partners, marketing support available, and discusses expanding international business attraction efforts by supporting existing organizations and promoting Northeast Ohio globally. The document concludes by requesting partnership and support from attendees to help Team NEO attract more businesses to the region.
Regional Economic Development System DiagramTeam NEO
Northeast Ohio has a comprehensive regional economic development system working collaboratively to Advance Northeast Ohio's economy. Together, the system has attracted more than 25 new companies, 2500 new jobs, $80 million in new annual payroll, and $500 million in new VC dollars for bio business startups. The systems has helped more than 300 entrepreneurs launch in Northeast Ohio, helped dozens of manufacturers remain globally competitive, and organized high-tech industries clusters for future regional growth.
Team NEO Presentation to Cleveland Plus FAM TourTeam NEO
Take a look at this presentation by Jim Robey and his team about Northeast Ohio's business assets, as well as Team NEO's data resources and capabilities.
The most impactful 2008 economic development projects as awarded at the Team NEO Economic Development Impact Awards on June 2, 2009 are detailed in this document.
1. Cleveland Plus 2Q 2010 | Quarterly Economic Indicators | 16 Counties of Northeast Ohio
Q2 2010 Assessment | Cleveland Plus Region showing signs of economic Improvement: In the 2nd quarter of 2010, the Cleveland Plus economy showed signs of improvement, with declines in the unemployment
rate, increases in total employment by more than 55,000 jobs, a decline in unemployment claims and projected GRP growth of 3.1% in 2010. In addition, the Cleveland Plus Region is performing more similar to the U.s.:
Likely due to economic diversification and industry transformation, the Cleveland Plus region is performing more similar to the U.S. during the current recession than previous economic declines, with regard to both
economic output (GRP) and employment. the Regions is experiencing employment Growth in services and manufacturing: Since January 2010, Cleveland Plus has seen employment growth in its two largest sectors.
Manufacturing employment grew by approximately 8,000 jobs between January and June of 2010, while service sector employment grew by nearly 48,000 jobs.
NEO Total Employment (Not seasonally adjusted) NEO EMPLOYMENT Unemployment Rates (Through June 2010)
INCREASES IN Q2
Year over year employment in
Q2 2010 increased by approximately Ohio
1,000 jobs. This increase follows
two years of job decreases.
Jobs increased seasonally
from Q1 by 3%.
neO
NEO UNEMPLOYMENT RATE
FOLLOWING NATIONAL TRENDS
In Q2 of 2010, the average
unemployment rate in Northeast Ohio
was 10.2%, while for the state of Ohio U.s.
it was 10.4% and for the U.S.
it was 9.5%. Northeast Ohio’s
unemployment rate of 10.2%
in Q2 2010 was 1.4 percentage points
lower than the unemployment rate
in Q1 2010 (11.6%). neO Ohio U.s.
Source: Ohio Labor Market Information (LMI) Source: Ohio Labor Market Information (LMI)
MANUFACTURING AND
Change in Employment by Sector (1.00 = 2007 Avg.) CONSTRUCTION JOBS GROW Average Monthly Unemployment Claims (Jan 07 - Jun 10)
Combined, these four sectors
Government comprise total employment in
Northeast Ohio. Throughout the
recession, employment in services
and government has been fairly
steady, while manufacturing
services employment has declined and
construction employment has
fluctuated. Last quarter, both
manufacturing & construction
Construction saw increases in employment,
at 1% and 8% respectively.
manufacturing
UNEMPLOYMENT CLAIMS
SIMILAR TO PRE-RECESSION LEVELS
Initial unemployment claims in
Northeast Ohio have fallen to
pre-recession levels, and continued
claims remain among their lowest
point in a year and a half.
For information on data sources, 1
Source: Bureau of Labor Statistics (BLS) please visit www.clevelandplusbusiness.com Source: Ohio Labor Market Information (LMI)
2. Cleveland Plus 2Q 2010 | Quarterly Economic Indicators | 16 Counties of Northeast Ohio
NEO GRP PROJECTED TO INCREASE
Northeast Ohio: Real GRP (in billions) GRP Comparison Recession
Northeast Ohio’s Gross Regional
Product (GRP) is projected to increase
0.6%(-.7%) 0.5% by 3.1% in 2010, according to
2.4% Moody’s economy.com. Since 1995,
(-1.8%)
1.8% GRP has increased at an average
1.2% 0.3% 1.2%
2.6% (-1.9%) 3.1% annual rate of 1.5%.
7.0%
4.8% Difference
(-6.4%)
GRP TRACKING CLOSER TO U.S.
Through 11 quarters of the 1981 2.8%
3.0% Difference
recession, NEO’s GRP was 7.0% lower
3.8% than the U.S.; 11 quarters into
the 2007 recession, however,
Cleveland Plus is only 2.8% lower
compared to the national GRP.
Northeast Ohio’s more diversified
economy, with growth sectors such
as biomedical, aerospace-related
products, and the cleantech supply
Average Annual Growth = 1.5% Real GRP chain is helping the region perform
Source: Economy.com more like the U.S. as a whole. Source: Economy.com
MANUFACTURING HOURS
Average Monthly Manufacturing Hours Worked Northeast Ohio Occupied Industrial Space
WORKED NORMALIZING (Jan 07 - May 10)
(NEO vs. Ohio)
In Q2 2010, manufacturing hours
worked averaged 39.4 hours
for Northeast Ohio, which showed
no overall change from the
Northeast Ohio total for Q1 2010
(also 39.4 hours). The state of Ohio
averaged 40.4 hours worked in
Q2 2010.
INDUSTRIAL SPACE REMAINS
RELATIVELY STABLE
For the third consecutive quarter,
occupied industrial space was
slightly lower and the industrial
vacancy rate was marginally
higher in Cleveland Plus,
with more than 400 million
square feet of space still
occupied, and vacancy rates
at 8.6%.
Source: Bureau of Labor Statistics (BLS) Source: CoStar
For information on data sources,
please visit www.clevelandplusbusiness.com 2
3. Cleveland Plus 2Q 2010 | Quarterly Economic Indicators | 16 Counties of Northeast Ohio
Cleveland Plus 16-County Region
DATA SOURCES: Team NEO also uses data from federal and state sources as part
Team Northeast Ohio uses a number of data sources for the of the report. We rely heavily on data from the U.S. Bureau of
Ashtabula
Regional Economic Review. One of the primary sources is the Labor Statistics (www.bls.gov) and Ohio’s Labor Market Information Lake
Moody’s Economy.com (www.economy.com) Northeast Ohio (www.lmi.state.oh.us) for information on wages, unemployment and
Cleveland Geauga
modeling system. both general and industry-specific employment. Cuyahoga
Lorain Trumbull
Moody’s Economy.com county level output, employment and Industrial real estate data for this edition was derived from the CoStar Summit Portage
payroll historical data are estimated from several publicly available Group. Due to market limits within the CoStar database, historic trend Medina Akron
Youngstown
Mahoning
sources and are summarized into the Team NEO regional footprint. data for the Team NEO region is defined as 10 of the 16 counties forming
It is important to understand data provided by Economy.com are the regional footprint. These counties include Ashtabula, Cuyahoga, Ashland
Wayne Canton Columbiana
estimates of economic activity. Geauga, Lake, Lorain, Medina, Portage, Richland, Stark and Summit. Richland Stark
Carroll
737 Bolivar Road, Suite 2000, Cleveland, Ohio 44115
888.NEO.1411 • www.clevelandplusbusiness.com