Minneapolis–St. Employment Update | March 2016Carolyn Bates
Minneapolis-St. Paul’s unemployment rose to 3.9 percent, according to the most recent estimates available from the BLS. Although still 100 basis points lower than the national rate, this month is the first time since July 2015 that the metro unemployment rate is higher than the state of Minnesota’s.
Industrial sectors were responsible for 26.7 percent of the 12-month total employment growth, outperforming office-using sectors which saw 19.6 percent of total growth. Trade, transportation, and utilities added 3,200 jobs year-over-year and drove the bulk of industrial growth throughout 2015.
Although national year-to-date figures are down compared to 2015, January saw significant upward revisions to 172,000 jobs, improving the year’s initial performance. Despite global tensions and economic shifts, the U.S. economy seems to be holding its own, although certain sectors such as energy and trade could be impacted by fluctuations in domestic and international demand.
Five up and coming real estate markets for 2016JLL
Demand for office space is rising in five up and coming real estate markets, where costs are affordable and talent is strong. See more at http://bit.ly/1RJlmOU
With the economy growing at its fastest pace in the current cycle, employers across industries are adding jobs, especially in urban and dense markets where talent is migrating. As a result, expansionary activity remained the dominant driver of leasing in the third quarter, accounting for 57.9 percent of lease transactions.
February 2016 U.S. employment update and outlook JLL
The labor market recorded a soft opening to 2016, adding only 151,000 new jobs, although unemployment fell below 5.0 percent for the first time since 2008.
Top tech cities: Exploring demand, leasing growth, VC funding and more JLL
See what’s going on in America’s top tech markets, and some key trends we’re seeing nationwide. In this presentation, we explore tech leasing growth, tech company demand in key markets and submarkets (and its impact on office rental rates), where to find the best opportunity for VC funding and more.
Visit http://bit.ly/1Sg3RSN for more on what’s happening in today’s tech markets nationwide.
Minneapolis-St. Paul JLL employment update January 2017Carolyn Bates
Minneapolis-St. Paul maintains it’s fourth-lowest unemployment rate in the nation among all large metros, according to the most recent BLS estimates.
New workforce highs were achieved in Education and Health Services and Government while professional and Business services have seen a slight pullback from its recent run in growth. Y-O-Y Education and Health Services claims the top spot creating 9,700 jobs over the trailing 12 month period.
Among office using sectors, all have seen a month to month contraction in growth except information which maintains still a negative overall growth rate, losing 300 jobs Y-O-Y.
Nationwide, unemployment dropped by 30bp over the year to 4.7 percent. Declines in unemployment came as a result of a steadily increasing workforce, marginally boosting participation, and job growth outperforming the rate of expansion in the workforce.
Wage growth continues to outpace inflation, reaching highest rate of increase this cycle.
Minneapolis–St. Employment Update | March 2016Carolyn Bates
Minneapolis-St. Paul’s unemployment rose to 3.9 percent, according to the most recent estimates available from the BLS. Although still 100 basis points lower than the national rate, this month is the first time since July 2015 that the metro unemployment rate is higher than the state of Minnesota’s.
Industrial sectors were responsible for 26.7 percent of the 12-month total employment growth, outperforming office-using sectors which saw 19.6 percent of total growth. Trade, transportation, and utilities added 3,200 jobs year-over-year and drove the bulk of industrial growth throughout 2015.
Although national year-to-date figures are down compared to 2015, January saw significant upward revisions to 172,000 jobs, improving the year’s initial performance. Despite global tensions and economic shifts, the U.S. economy seems to be holding its own, although certain sectors such as energy and trade could be impacted by fluctuations in domestic and international demand.
Five up and coming real estate markets for 2016JLL
Demand for office space is rising in five up and coming real estate markets, where costs are affordable and talent is strong. See more at http://bit.ly/1RJlmOU
With the economy growing at its fastest pace in the current cycle, employers across industries are adding jobs, especially in urban and dense markets where talent is migrating. As a result, expansionary activity remained the dominant driver of leasing in the third quarter, accounting for 57.9 percent of lease transactions.
February 2016 U.S. employment update and outlook JLL
The labor market recorded a soft opening to 2016, adding only 151,000 new jobs, although unemployment fell below 5.0 percent for the first time since 2008.
Top tech cities: Exploring demand, leasing growth, VC funding and more JLL
See what’s going on in America’s top tech markets, and some key trends we’re seeing nationwide. In this presentation, we explore tech leasing growth, tech company demand in key markets and submarkets (and its impact on office rental rates), where to find the best opportunity for VC funding and more.
Visit http://bit.ly/1Sg3RSN for more on what’s happening in today’s tech markets nationwide.
Minneapolis-St. Paul JLL employment update January 2017Carolyn Bates
Minneapolis-St. Paul maintains it’s fourth-lowest unemployment rate in the nation among all large metros, according to the most recent BLS estimates.
New workforce highs were achieved in Education and Health Services and Government while professional and Business services have seen a slight pullback from its recent run in growth. Y-O-Y Education and Health Services claims the top spot creating 9,700 jobs over the trailing 12 month period.
Among office using sectors, all have seen a month to month contraction in growth except information which maintains still a negative overall growth rate, losing 300 jobs Y-O-Y.
Nationwide, unemployment dropped by 30bp over the year to 4.7 percent. Declines in unemployment came as a result of a steadily increasing workforce, marginally boosting participation, and job growth outperforming the rate of expansion in the workforce.
Wage growth continues to outpace inflation, reaching highest rate of increase this cycle.
Minneapolis–St. Paul Employment Update | August 2016Carolyn Bates
According to the most recent BLS estimates, Minneapolis-St. Paul’s unemployment has ticked up from last month’s 3.1%, yet still sits comfortably below the 4 percent mark. Having the second-lowest unemployment rate in the nation among all large metros offers its own challenges as employers prepare for a potentially looming talent shortage.
Once again, MSP achieved record-breaking employment totals for professional and business services, a fundamental component to the metro’s economic growth. Approximately 6,000 jobs have been added in the industry year-over-year.
The U.S. economy saw the addition of 255,000 net new jobs in July, the second consecutive month of healthy additions after a volatile first quarter and next to no growth in May.
Nationally, average weekly wages continue to rise at an annual clip of 2.6 percent, more than double inflation at 1.0 percent. This will boost disposable income and, in turn, personal consumption that drives GDP.
Minneapolis–St. Paul Employment Update | July 2016Carolyn Bates
This year has been filled with milestones for the Minneapolis-St. Paul economy, and once again the metro has achieved its largest ever employment count and labor force: 1.91 million and 1.97 million, respectively.
Additionally, this month marked Minneapolis-St. Paul’s peak employment in professional and business services, a fundamental component to the metro’s economic growth. Over 4 thousand jobs have been added month-over-month, an impressive gain after an addition of 8,500 jobs last month.
At the national level, June saw 287,000 net new jobs added to the U.S. labor market, a return to healthy growth after a weak May that saw gains revised downward to just 11,000 jobs. This is the highest monthly figure in eight months and will be reassuring to decision makers such as the Federal Reserve.
High-performing markets across the U.S. have seen and expect further slowdowns in the rate of job growth as employers run up against talent shortages–a challenge that is especially pertinent to Minneapolis-St. Paul.
U.S. employment update and outlook: October 2014JLL
Unemployment dips to 5.9 percent in September—its first time below 6.0 percent during the recovery.
The U.S. economy got back on track in September, bouncing back from a sluggish August with 248,000 net new jobs. Growth occurred across sectors and geographies, with office-using industries in particular benefiting from improved corporate confidence leading to permanent hiring.
Total unemployment, which includes discouraged and marginally detached workers, also declined slightly to 11.8 percent, bringing it below the 10-year average.
With numerous other employment metrics all pointing up—including job openings, voluntary quits and CEO confidence—sentiment will only become more optimistic over the coming months.
See more real estate and economic research at: http://bit.ly/1vIGt6m
Minneapolis–St. Paul Employment Update | September 2016Carolyn Bates
Minneapolis-St. Paul has the second-lowest unemployment rate in the nation among all large metros, according to the most recent BLS estimates.
Financial services has reached its largest-ever employment count in MSP. The sector has seen steady gains since 2010 and even surpassed pre-Recession highs earlier this year. And once again, MSP achieved record-breaking employment totals for professional and business services, a fundamental component to the metro’s economic growth. Nearly 6,000 jobs have been added in the industry year-over-year.
Nationwide, 151,000 net new jobs were created in August, falling below the 250,000+ monthly additions over the previous two months. Although still at average levels of growth, August demonstrated the continued volatility of the labor market in 2016. Unemployment remained stable at 4.9 percent as growth in the workforce has aligned with employment gains. The Federal Reserve is likely to hold off on the next rate hike due to inconsistent monthly additions and weaker-than-expected wage growth.
U.S. office market trends and outlook (Q1 2016) JLL
Outlooks leading into the new year called for further expansion across U.S. office markets. However, stock market tumbles driven by a weakening China and depleted oil prices shifted sentiment from that of a growth perspective to one of increased caution. Despite this, economic and real estate fundamentals remain primarily landlord-favorable through the remainder of 2016.
Learn more, and see market-by-market comparisons, at http://bit.ly/1qrZZGm
U.S. employment showed a healthy return to growth in February with 242,000 net new jobs. Unemployment remained at 4.9 percent, but total unemployment dropped to just 9.7 percent—the lowest rate since before the recession.
Presentation by Bruce Katz, Vice President of the Brookings Institution and Director of the Metropolitan Policy Program.
Global Cities Initiative forum in Houston, TX on May 15, 2013.
The Global Cities Initiative is a Joint Project of Brookings and JPMorgan Chase.
For more information: http://www.brookings.edu/projects/global-cities.aspx
This presentation, prepared for CEOs for Cities’ annual meeting, explores some of the key findings that have emerged from the literature on the role of cities in the national economy and on the drivers of urban economic growth. Based on these findings, we extrapolate seven broad principles for urban policy and suggest several related strategies for city and regional economic development.
Creative Landscape - Asheville/Buncombe County 2013 Gordon Smith
This regional snapshot report gives the big
picture of a region’s creative landscape. It
provides an overview of creative jobs, industry
earnings, FDR grants, and Nonprofit revenues.
Minneapolis–St. Paul Employment Update | August 2016Carolyn Bates
According to the most recent BLS estimates, Minneapolis-St. Paul’s unemployment has ticked up from last month’s 3.1%, yet still sits comfortably below the 4 percent mark. Having the second-lowest unemployment rate in the nation among all large metros offers its own challenges as employers prepare for a potentially looming talent shortage.
Once again, MSP achieved record-breaking employment totals for professional and business services, a fundamental component to the metro’s economic growth. Approximately 6,000 jobs have been added in the industry year-over-year.
The U.S. economy saw the addition of 255,000 net new jobs in July, the second consecutive month of healthy additions after a volatile first quarter and next to no growth in May.
Nationally, average weekly wages continue to rise at an annual clip of 2.6 percent, more than double inflation at 1.0 percent. This will boost disposable income and, in turn, personal consumption that drives GDP.
Minneapolis–St. Paul Employment Update | July 2016Carolyn Bates
This year has been filled with milestones for the Minneapolis-St. Paul economy, and once again the metro has achieved its largest ever employment count and labor force: 1.91 million and 1.97 million, respectively.
Additionally, this month marked Minneapolis-St. Paul’s peak employment in professional and business services, a fundamental component to the metro’s economic growth. Over 4 thousand jobs have been added month-over-month, an impressive gain after an addition of 8,500 jobs last month.
At the national level, June saw 287,000 net new jobs added to the U.S. labor market, a return to healthy growth after a weak May that saw gains revised downward to just 11,000 jobs. This is the highest monthly figure in eight months and will be reassuring to decision makers such as the Federal Reserve.
High-performing markets across the U.S. have seen and expect further slowdowns in the rate of job growth as employers run up against talent shortages–a challenge that is especially pertinent to Minneapolis-St. Paul.
U.S. employment update and outlook: October 2014JLL
Unemployment dips to 5.9 percent in September—its first time below 6.0 percent during the recovery.
The U.S. economy got back on track in September, bouncing back from a sluggish August with 248,000 net new jobs. Growth occurred across sectors and geographies, with office-using industries in particular benefiting from improved corporate confidence leading to permanent hiring.
Total unemployment, which includes discouraged and marginally detached workers, also declined slightly to 11.8 percent, bringing it below the 10-year average.
With numerous other employment metrics all pointing up—including job openings, voluntary quits and CEO confidence—sentiment will only become more optimistic over the coming months.
See more real estate and economic research at: http://bit.ly/1vIGt6m
Minneapolis–St. Paul Employment Update | September 2016Carolyn Bates
Minneapolis-St. Paul has the second-lowest unemployment rate in the nation among all large metros, according to the most recent BLS estimates.
Financial services has reached its largest-ever employment count in MSP. The sector has seen steady gains since 2010 and even surpassed pre-Recession highs earlier this year. And once again, MSP achieved record-breaking employment totals for professional and business services, a fundamental component to the metro’s economic growth. Nearly 6,000 jobs have been added in the industry year-over-year.
Nationwide, 151,000 net new jobs were created in August, falling below the 250,000+ monthly additions over the previous two months. Although still at average levels of growth, August demonstrated the continued volatility of the labor market in 2016. Unemployment remained stable at 4.9 percent as growth in the workforce has aligned with employment gains. The Federal Reserve is likely to hold off on the next rate hike due to inconsistent monthly additions and weaker-than-expected wage growth.
U.S. office market trends and outlook (Q1 2016) JLL
Outlooks leading into the new year called for further expansion across U.S. office markets. However, stock market tumbles driven by a weakening China and depleted oil prices shifted sentiment from that of a growth perspective to one of increased caution. Despite this, economic and real estate fundamentals remain primarily landlord-favorable through the remainder of 2016.
Learn more, and see market-by-market comparisons, at http://bit.ly/1qrZZGm
U.S. employment showed a healthy return to growth in February with 242,000 net new jobs. Unemployment remained at 4.9 percent, but total unemployment dropped to just 9.7 percent—the lowest rate since before the recession.
Presentation by Bruce Katz, Vice President of the Brookings Institution and Director of the Metropolitan Policy Program.
Global Cities Initiative forum in Houston, TX on May 15, 2013.
The Global Cities Initiative is a Joint Project of Brookings and JPMorgan Chase.
For more information: http://www.brookings.edu/projects/global-cities.aspx
This presentation, prepared for CEOs for Cities’ annual meeting, explores some of the key findings that have emerged from the literature on the role of cities in the national economy and on the drivers of urban economic growth. Based on these findings, we extrapolate seven broad principles for urban policy and suggest several related strategies for city and regional economic development.
Creative Landscape - Asheville/Buncombe County 2013 Gordon Smith
This regional snapshot report gives the big
picture of a region’s creative landscape. It
provides an overview of creative jobs, industry
earnings, FDR grants, and Nonprofit revenues.
TechBook: Using EMC VNX Storage with VMware vSphereEMC
This EMC Engineering TechBook describes how VMware vSphere works with the EMC VNX series. The content in this TechBook is intended for storage administrators, system administrators, and VMware vSphere administrators.
Many believe Big Data is a brand new phenomenon. It isn't, it is part of an evolution that reaches far back history. Here are some of the key milestones in this development.
Metro Atlanta Opprtunity Zone ProspectusAlex Rudie
This presentation offers a complete overview of the Metro Atlanta Opportunity Zone Prospectus. Including maps, details, ratings, assets, and opportunities, learn all you need to know about the Atlanta area!
An overview of the economy (including job growth by sectors, consumer spending, inflation, wages, and real estate) on the cusp of 2022, after two years of COVID impacts
Do Metro Atlanta Residents Have Access to Jobs & Amenities?ARCResearch
This month we ask a simple question: Do metro Atlanta residents have access to jobs, services and amenities? This question is important as the way we design communities has a strong impact on quality of life. Is housing affordable near where one works? Are transportation costs eating away at whatever savings realized by an affordable home further away from job centers?
U.S. employment update and outlook: December 2014JLL
November gain of 321,000 jobs confirms the strength of the recovery
The U.S. economy saw the growth of an additional 321,000 net new jobs in November. With revisions of earlier months' data, makes November the ninth consecutive month with gains surpassing 200,000 jobs.
Unemployment remained steady from the previous month at 5.8 percent. Total unemployment—which includes detached workers—dropped by 10 basis points to a recovery low of 11.4 percent, as the number of marginally detached workers slowly declines.
See more economic, office and real estate research at http://bit.ly/1s2tk4M
Construction activity is shifting nationwide as manufacturing and retail companies make efforts to modernize, create more just-in-time shipping locations and link operations digitally.
What's Next ATL: Top 10 Challenges for Metro Atlanta (2018)Susan Chana
What’s Next ATL is a multi-dimensional platform for metro Atlanta residents and it leaders to explore the challenges ahead and work together to find innovative solutions. Bring your ideas, perspectives and passion. Join us at whatsnextATL.org. Powered by the Atlanta Regional Commission (ARC).
This 2014 State of the Region report explores at a host of information to tell a data-driven story about metro Atlanta. Naturally, we look at the "hard" data such as demographic and socioeconomic data, and while these data tell a compelling story, they tell an incomplete story. For the second consecutive year, ARC and our community partners have conducted the Metro Atlanta Speaks survey to glean residents’ preferences for a number of policy options and their assessments of overall quality of life in the Atlanta area.
Metro Atlanta Real Estate Market Trends For January 2014Arthur Prescott
View a slide show of the latest Metro Atlanta Real Estate Market Trends For January 2014. Presented by Arthur Prescott of Berkshire Hathaway HomeServices Georgia Properties.
This month’s Regional Snapshot provides an overview of the most relevant trends in our metro economy- topics include job growth by sector, changes in wage levels, and trends in residential and commercial (by type) permit and construction activity.
RS Working on the Workforce Sept 2019 To PostARCResearch
workforce data for regional plans and grant-funded projects. In this presentation, staff present summary findings from some of the data work done for the Worksource Regional Plan, Metro Atlanta Workforce Exchange (MAX), and National Workforce Fund Economic Mobility Grant (EMG) projects, as well as share plans for further future analysis.
The local employment market entered its third consecutive month of improving conditions with the unemployment rate declining 50 basis points to 5.9 percent.
While the metro may be experiencing some short-term fluctuations in employment levels, the long-term prospects for Pittsburgh remain among the brightest in the Great Lakes region based on the metro’s diverse economic base.
Construction costs continue to grow nationwide, and many landlords are looking to redevelop existing stock in major markets.
Tenant improvements (TIs) are also gaining momentum, and office landlords are competing for by offering more attractive TI packages. These offerings allow tenants to customize interiors without paying for a full redesign out of pocket, and are a key piece of lease negotiations. The average TI allowance nationwide is $30.00 per square foot, and just over $50.00 per square foot in CBDs.
MC_forecasts_finals series 17_feb2024.pdfARCResearch
Final summary slide deck for Series 17 population, employment by sector, age group forecasts for MPO region, counties, and smaller areas...February 2024
33N Blog Housing MAS 2023 Slide DeckpdfARCResearch
Results of housing-related questions from the 2023 Metro Atlanta Speaks survey--focus on affordability locally and regionally, as well as on policy perceptions
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
Neuro-symbolic is not enough, we need neuro-*semantic*Frank van Harmelen
Neuro-symbolic (NeSy) AI is on the rise. However, simply machine learning on just any symbolic structure is not sufficient to really harvest the gains of NeSy. These will only be gained when the symbolic structures have an actual semantics. I give an operational definition of semantics as “predictable inference”.
All of this illustrated with link prediction over knowledge graphs, but the argument is general.
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Generating a custom Ruby SDK for your web service or Rails API using Smithyg2nightmarescribd
Have you ever wanted a Ruby client API to communicate with your web service? Smithy is a protocol-agnostic language for defining services and SDKs. Smithy Ruby is an implementation of Smithy that generates a Ruby SDK using a Smithy model. In this talk, we will explore Smithy and Smithy Ruby to learn how to generate custom feature-rich SDKs that can communicate with any web service, such as a Rails JSON API.
4. Is Our Economy Diverse Enough To Compete
Globally?
• Atlanta is no longer simply competing with other cities
in the Southeast or the nation
• Global business leaders see Atlanta with international
competitiveness
• Metro Atlanta’s economy must continue to leverage its
assets to stay relevant and thrive in this global context
• Key determinants explored here include exports,
innovation, competitiveness, employment, Gross
Metropolitan Product (GMP), and home price
Source: OnTheMap Program, U.S. Census Bureau
5. Exports
• Metro areas that seize
opportunities in new
markets will help boost the
country’s economic
competitiveness and create
jobs locally
• The value of metro Atlanta’s
exports has risen by 45%
since 2005
• While this is undeniably good, other research suggests that metro Atlanta
lags behind other large metro areas in overall export activity
• As a share of the Atlanta region’s total metro GDP, only 8% is attributable to
exports as of 2010, which ranks metro Atlanta 77th out of the 100 largest
metros in the country.
Source: International Trade Administration , Brookings Institution “Export Nation 2012”
6.
7. Patents
Metro Atlanta: Percent of All Patents
in 99 Large Metro Areas
2.00%
1.90%
1.80%
• Patents are a good way to
measure economic progress
by indicating new knowledge
and new innovations
• Metro Atlanta has increased
its share of all patents
developed in the 99 largest
metro areas, from about 1.5
percent of all patents in 2000
to 1.9 percent by 2011
1.70%
1.60%
1.50%
1.40%
1.30%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: U.S. Patent and Trademark Office
8. Patents
Patents per 10,000 population, 2010: Top
25 Metros
16.00
14.00
12.00
• Metro Atlanta has taken on
an increased role in
innovation since 2000, but
still ranks fairly low overall
• Atlanta ranks 16th out of the
top 25 largest U.S. metros on
patents per 10,000 people
10.00
8.00
6.00
4.00
2.00
San Francisco
Seattle
San Diego
Boston
Minneapolis
Portland
Detroit
Los Angeles
Houston
Philadelphia
Dallas
New York
Phoenix
Pittsburgh
Washington
Atlanta
Chicago
Denver
Baltimore
St. Louis, MO
Sacramento
Miami
Tampa
San Antonio
Riverside
0.00
Source: U.S. Patent and Trademark Office
9. Concentration of jobs in key sectors
•
Metro Atlanta a leader nationally in
“knowledge” and logistics jobs
Location Quotient by Year:
Logistics Hub
1.6
• “Knowledge” jobs include IT,
telecom, corporate and regional HQ,
professional services and corporate
and customer support operations.
They are among the highest paying
jobs in the region.
• Logistics jobs include supply chain
management, transportation
services, warehousing and storage
and wholesale trade.
1.55
1.5
1.45
1.4
1.35
1.3
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Location Quotient by Year: Knowledge Hub
1.6
1.55
1.5
1.45
Values larger than 1 mean metro Atlanta has
higher concentration than nation as a whole
1.4
1.35
1.3
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Source: Bureau of Labor Statistics
10. Employment Change, August 2008 – August
2013 (year-over-year percent change)
•
During the Great Recession, metro Atlanta’s employment gains lagged those of the
nation’s gains.
• For the past year, however, metro Atlanta’s job market has been outperforming that of
the nation’s on a year-over-year percent change basis.
Source: Bureau of Labor Statistics
11. Employment Change by Industry, August
2012 – August 2013 (year-over-year percent change)
In looking at job gains by sector, metro Atlanta is outpacing the nation in jobs added in
Construction and Information, which are critical sectors for metro Atlanta.
Source: Bureau of Labor Statistics
12. Employment Change by Large Metro, August
2012 – August 2013 (year-over-year percent change)
Nationally, metro Atlanta ranks fourth in the percent change in the number of jobs added
over the past year (August 2012 – August 2013).
Source: Bureau of Labor Statistics
13. Employment Change Since Recession,
December 2007 – July 2013 (year-over-year percent
change)
Despite impressive gains recently, there is still a little more work to do to get back to
pre-recession levels
Source: Bureau of Labor Statistics
14. Average Annual Wage Increases, 2000 - 2011
(in 2011 dollars)
In many ways, metro Atlanta’s economic struggles began before the official beginning of
the Great Recession. Wage increases lagged behind the national average for much of the
2000 decade.
Source: Bureau of Economic Analysis, CA34
15. Wage and Compensation Change by Large
Metro, Sept. 2012 – Sept. 2013 (year-over-year
percent change)
Since 2012, however, metro Atlanta’s total compensation and wage increases are greater
than all other large metro areas.
Source: Bureau of Labor Statistics
16. Unemployment Rate
Unemployment Rate
12.0
•
•
Metro Atlanta’s unemployment
rate has been consistently
higher than national average
since the Great Recession, but
the gap has been decreasing
since the beginning of FY13
October 2013: Atlanta’s UE
(7.7%) is 0.4% higher than
nation’s UE rate (7.3%)
10.0
8.0
6.0
4.0
2.0
ATL
U.S.
Jan-03
Jun-03
Nov-03
Apr-04
Sep-04
Feb-05
Jul-05
Dec-05
May-06
Oct-06
Mar-07
Aug-07
Jan-08
Jun-08
Nov-08
Apr-09
Sep-09
Feb-10
Jul-10
Dec-10
May-11
Oct-11
Mar-12
Aug-12
Jan-13
Jun-13
0.0
Source: Bureau of Labor Statistics
17. Gross Metropolitan Product (GMP)
• GMP measures the total
economic output of
metro areas
Atlanta GMP: All Industries
310000
290000
• Atlanta was behind
other metros between
2010 and 2011 with
stagnant growth
• 2012 preliminary data
indicates that Metro
Atlanta’s GMP has
recovered above prerecession levels
270000
250000
230000
210000
190000
170000
2001
Source: Benchmarking Central Ohio, Bureau of Labor Statistics
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
18. Gross Metropolitan Product (GMP)
Change in Gross Metropolitan Product Since The "Trough"
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
• The Trough: lowest point for GMP
• Atlanta’s trough was in Q3 of 2009
• Metro Atlanta ranks 10th in GMP recovery among top 25 U.S. metros
Source: Bureau of Economic Analysis
19. Home Price Index
Case Shiller's Home Price Index (January 2000=100)
140
130
120
110
100
90
Jul-13
Jan-13
Jul-12
Jan-12
Jul-11
Jan-11
Jul-10
Jan-10
Jul-09
Jan-09
Jul-08
Jan-08
Jul-07
Jan-07
Jul-06
Jan-06
Jul-05
Jan-05
Jul-04
Jan-04
Jul-03
Jan-03
Jul-02
Jan-02
Jul-01
Jan-01
Jul-00
Jan-00
80
• Metro Atlanta is one of the national leaders in home price gains on a year-overyear basis
• Prices are down 16.9 percent when compared to peak prices (July 2007), but are
up over 13 percent when compared to 2000
Source: Case-Shiller Index
20. Home Price Index
• Metros across
the country are
showing
consistent
improvement
since the Great
Recession
Source: Case-Shiller Index
-47.1%
FL-Miami
-39.3%
AZ-Phoenix
-37.8%
FL-Tampa
-35.3%
MI-Detroit
-27.2%
IL-Chicago
-24.3%
CA-San Diego
-23.4%
CA-Los Angeles
-23.2%
Composite-20
-20.3%
NY-New York
-20.1%
MN-Minneapolis
-19.7%
DC-Washington
• Although home
prices are down
about 16.9%
since the peak,
prices in several
metros have
been suffering
more
NV-Las Vegas
-18.6%
CA-San Francisco
-18.2%
GA-Atlanta
-16.9%
WA-Seattle
-16.6%
OR-Portland
-14.7%
OH-Cleveland
-13.4%
NC-Charlotte
-8.0%
MA-Boston
-7.8%
TX-Dallas
4.6%
CO-Denver
4.8%
-50.0%
-40.0%
-30.0%
-20.0%
-10.0%
0.0%
10.0%
21. Summary
• Atlanta is improving in exports, but is slightly lagging in terms of national
average
• Atlanta’s share of patents is increasing, but far from the nation’s patent
leaders
• Knowledge and Logistics job sectors are above the national average
• The unemployment rate has not yet moderated to pre-recession levels, and
metro Atlanta's rate remains above the national unemployment rate
• Metro Atlanta's recovery from the lowest point (in Q3, 2009) in Gross
Metropolitan Product (GMP) ranks 10th among the top 25 U.S. metros
• Metro Atlanta is among the nation's leaders in recent home price gains as
noted in the Case-Shiller Index
22. Plan 2040 Goal:
Economic Recovery and
Prosperity
Atlanta Regional Commission
For more information contact:
mcarnathan@atlantaregional.com