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1 Ajša Suljić Regional Labor Economist November 29th, 2011 Benton-Franklin Region Economic Overview.

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Presentation on theme: "1 Ajša Suljić Regional Labor Economist November 29th, 2011 Benton-Franklin Region Economic Overview."— Presentation transcript:

1 1 Ajša Suljić Regional Labor Economist November 29th, 2011 Benton-Franklin Region Economic Overview

2 2 Benton Franklin Region Oct 2010 UI rate 7.8% Source: Employment Security Department/LMEA; BLS

3 3  Annual Growth Rate est. at 3% since 2006  During recession; (12/07-06/09)  B/F= 2.7% and WA=-5.1%  25 months after recession; (06/08-09/11)  B/F=4.0% and WA=0.1% Review in numbers

4 4 Benton-Franklin Region Industry Share Franklin Avg 2010 Emp28,929 Wage$32,619 Benton Avg 2010 Emp79,939 Wage$49,474 Source: Employment Security Dept/LMEA; QCEW Avg. 2010; BLS Public administration All other industries (private industries not listed individually) Professional, scientific and technical services Administrative support and waste mgmt. and remediation services Retail trade Agriculture, forestry, fishing and hunting Health care and social assistance Accommodation and food services Manufacturing Construction

5 5 Industry Contributions to Employment Change… Avg Annual Employment, ,867 Source: Employment Security Dept/LMEA; QCEW Avg. 2010; BLS

6 6 Average Annual Wages by Industry 2010 Source: QWI Online-BLS Avg Annual Wage, 2010 $44,996

7 7 Benton-Franklin Region Hanford and Agricultural Clusters An estimated 30.8% of total employment is in two industry clusters- Hanford and Agriculture. About 43.3% of total wages are in these two clusters. Five year annual growth rate of 4.7% (4.0% and 5.4% respectively).

8 8 Population Change Benton and Franklin Region POP ,340 Source: US CENSUS

9 9 Poverty Rate Benton and Franklin Region Benton Pop175,177 MH I$59,409 Franklin Pop78,163 MHI$49,873 KPR MSA MHI $56,407 PV Rate 15.1% Source: US Census

10 10 Health Care industry Health Care and Social Assistance Benton and Franklin Region 10.3 % of Total Employment Source: BLS, QCEW- Both Private and Government Average Annual Wage $42,461 Average Annual Firms 597

11 11 Health Care and Social Assistance Benton and Franklin Region Main Industry Firm LevelSpecific Industries Ambulatory Health Care Services399 (Offices of Physicians, Dentists, other Health Practitioners, Outpatient Care Centers, Medical and Diagnostic Laboratories, Home Health Care Services, and Other Ambulatory Health Care Services) Hospitals19 (General Medical and Surgical Hospitals, Psychiatric and Substance Abuse Hospitals, and other) Nursing and Residential Care Facilities60 (Nursing Care Facilities, Residential Mental Retardation, Mental Health and Substance Abuse Facilities, Community Care Facilities for the Elderly, Other Residential Care Facilities) Social Assistance130 (Individual and Family Services, Community Food and Housing, and Emergency and Other Relief Services, Vocational Rehabilitation Services) Source: BLS, QCEW, both Public and Private

12 12 HEALTH INSURANCE COVERAGE BF regionBenton County Franklin County Civilian noninstitutionalized population 253, ,485 77,987 With health insurance coverage 211, % 150, %61, % With private health insurance 159, %120, %38, % With public coverage 81, %51, %29, % No health insurance coverage 41, %25, %16, % Civilian noninstitutionalized population under 18 years 75,080 47,880 27,200 No health insurance coverage 6, %3, %2, % Civilian noninstitutionalized population 18 to 64 years 151, ,798 45,012 Source: US Census, ACS 1-year 2010

13 13 HEALTH INSURANCE COVERAGE BF regionBenton CountyFranklin County In labor force: 117,689 83,914 33,775 Employed: 109,724 78,316 31,408 With health insurance coverage 87, %64, %23, % With private health insurance 82, %62, %20, % With public coverage 8, %4, %3, % No health insurance coverage 21, %13, %8, % Unemployed: 7,965 5,598 2,367 With health insurance coverage 3, %2, % % With private health insurance 1, %1, % % With public coverage 1, %1, % % No health insurance coverage 4, %3, %1, % Not in labor force: 34,121 22,884 11,237 With health insurance coverage 25, %17, %7, % With private health insurance 17, %12, %4, % With public coverage 11, %7, %3, % No health insurance coverage 8, %5, %3, % Source: US Census, ACS 1-year 2010

14 14 Where are we going…  Population is expected to continue growing for the next 30 years.  Employment in general is expected to grow on average 2.4% a year through 2014 and then slow down to 1.6% growth through 2019  Industries that will be leading growth  Health Care and Social Assistance  Manufacturing  Educational Services  Professional, Scientific, and Technical

15 15 Thank You For Any Questions or Comments About Labor Market Information Contact Ajša Suljić Regional Labor Economist

16 16 Check out Washington State Labor Market Information in your areas on the WWW and by contacting your local Economist Labor Market and Economic Analysis


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