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MAY 2015. WORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS)

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Presentation on theme: "MAY 2015. WORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS)"— Presentation transcript:

1 MAY 2015

2 WORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS)

3 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, LAUS. Mar. 2014 to Mar. 2015: 1,690 (-0.2%) subtracted from labor force 10,359 (1.0%) added to employment 12,039 (26.0%) subtracted from unemployed

4 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, LAUS.

5 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission & Federal Reserve Bank of Dallas, LAUS.

6 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission & Federal Reserve Bank of Dallas, LAUS.

7 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, LAUS.

8 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Unemployment Rate DifferenceRank March 2014March 2015 Austin MSA4.4%3.3%-1.11 San Antonio MSA4.93.7-1.22 Dallas MSA5.44.0-1.43 Minneapolis MSA4.84.0-0.84 Dallas MDiv5.34.0-1.35 Boston NECTADiv5.04.1-0.96 Fort Worth MDiv5.34.1-1.27 Seattle MDiv5.14.2-0.98 Houston MSA5.24.29 San Jose MSA6.04.2-1.810 Source: U.S. Bureau of Labor Statistics, LAUS.

9 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, LAUS.

10 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, LAUS.

11 WORKFORCE CURRENT EMPLOYMENT STATISTICS (CES)

12 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES. Austin added 22,800 jobs (2.5%) in the last 12 months.

13 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES.

14 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission & U.S. Bureau of Labor Statistics, CES.

15 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission & U.S. Bureau of Labor Statistics, CES.

16 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission & U.S. Bureau of Labor Statistics, CES.

17 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Nonfarm payroll jobs Mar. 2015 Mar. 2014-Mar. 2015 Rank DifferencePercent Ch. San Jose MSA1,043,90054,7005.5% 1 Orlando MSA1,150,90050,2004.6 2 San Francisco MDiv1,036,10043,8004.4 3 Riverside MSA1,325,40053,4004.2 4 Dallas MDiv2,347,20091,0004.0 5 Miami MDiv1,123,10042,3003.9 6 Louisville MSA637,20023,2003.8 7 Fort Lauderdale MDiv798,90028,9003.8 8 Anaheim MDiv1,533,40055,2003.7 9 Salt Lake City MSA669,90023,2003.6 10 Austin MSA929,70022,8002.529 Source: U.S. Bureau of Labor Statistics, CES.

18 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES.

19 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Federal Reserve Bank of Dallas, CES. The Dallas Fed’s SA series differs from the SA series from TWC/ BLS due to the Dallas Fed’s adoption of a quarterly revision cycle. The TWC/BLS data is benchmarked only annually.

20 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES. Net job creation for the 12 months ending March 2015: +1,400 private goods producing jobs +19,700 private service providing jobs +1,700 government jobs

21 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES.

22 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES.

23 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES.

24 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES.

25 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission, CES.

26 WORKFORCE Local Area Unemployment Statistics (LAUS) & Current Employment Statistics (CES)

27 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission.

28 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission.

29 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission.

30 WORKFORCE Current Employment Statistics (CES) & Quarterly Census of Employment & Wages (QCEW)

31 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission. QCEW data lag CES estimate by several months, however QCEW data is based universe counts rather than sample based survey estimates. Preliminary CES data is revised annually based on QCEW data and other adjustments.

32 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Workforce Commission.

33 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Sources: Texas Workforce Commission & Federal Reserve Bank of Dallas (CES). The Dallas Fed revises their series quarterly based on QCEW releases, while BLS/TWC benchmark CES data to QCEW only annually.

34 WORKFORCE AVERAGE WEEKLY HOURS AND AVERAGE HOURLY EARNINGS

35 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Bureau of Labor Statistics, CES.

36 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Bureau of Labor Statistics, CES.

37 BUSINESS CYCLE INDEX

38 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Federal Reserve Bank of Dallas. Mar. 2015: The index is 8.1% above the same month last year and monthly percent change has been positive since Sept. 2009. The index summarizes movements in:  Nonagricultural employment  The unemployment rate  Inflation-adjusted wages  Inflation-adjusted retail sales

39 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Federal Reserve Bank of Dallas.

40 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Federal Reserve Bank of Dallas.

41 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Federal Reserve Bank of Dallas

42 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Federal Reserve Bank of Dallas.

43 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Federal Reserve Bank of Dallas.

44 HOUSING MARKET PERMITS

45 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Monthly average 20071,659 2008983 2009730 2010732 2011853 20121,630 20131,738 20141,758 YTD ’151,812 Source: U.S. Census Bureau.

46 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Census Bureau.

47 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Census Bureau.

48 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Census Bureau. Monthly average 2007$237M 2008154M 2009104M 2010107M 2011114M 2012195M 2013236M 2014 278M YTD ’15 280M

49 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Census Bureau.

50 HOUSING MARKET HOME SALES & PRICES

51 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Real Estate Center at Texas A&M University. 2012-2013: +19.3% 2013-2014:+1.6%

52 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Real Estate Center at Texas A&M University.

53 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Real Estate Center at Texas A&M University & National Association of Realtors.

54 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Real Estate Center at Texas A&M University & National Association of Realtors.

55 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Real Estate Center at Texas A&M University & National Association of Realtors.

56 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: National Association of Home Builders. The HOI is a measure of the % of homes sold in a given area during the quarter that are affordable to households earning that area’s median family income.

57 COMMERCIAL REAL ESTATE

58 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: CoStar.

59 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: CoStar.

60 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: CoStar.

61 SALES TAX & RETAIL SALES

62 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Comptroller of Public Accounts.

63 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Texas Comptroller of Public Accounts.

64 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Federal Reserve Bank of Dallas.

65 VENTURE CAPITAL

66 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: PricewaterhouseCoopers/Thompson Reuters/NVCA MoneyTree Survey.

67 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: PricewaterhouseCoopers/Thompson Reuters/NVCA MoneyTree Survey.

68 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: PricewaterhouseCoopers/Thompson Reuters/NVCA MoneyTree Survey.

69 PATENT ACTIVITY

70 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Patent & Trademark Office.

71 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Patent & Trademark Office.

72 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: U.S. Patent & Trademark Office.

73 AIR SERVICE

74 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Austin-Bergstrom International Airport. 2011-2012: +3.8% 2012-2013: +6.2% 2013-2014:+7.0%

75 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Austin-Bergstrom International Airport.

76 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Austin-Bergstrom International Airport & U.S. Bureau of Transportation Statistics.

77 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Source: Austin-Bergstrom International Airport. 2011-2012: +1.5% 2012-2013: +1.9% 2013-2014:-2.0%

78 Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 78704 austinchamber.com Beverly Kerr, Vice President, Research bkerr@austinchamber.com 512.322.5641 Chris Ramser, Director, Research cramser@austinchamber.com 512.322.5662 This file & latest monthly report/spreadsheets: www.austinchamber.com/site-selection/business-climate/the-economy/ Bi-monthly “Central Texas Economy in Perspective” articles: www.austinchamber.com/site-selection/business-climate/the-economy/economy-perspective-rpt.php

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