MAY 2015. WORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS)

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Presentation transcript:

MAY 2015

WORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS)

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

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

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

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

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

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX austinchamber.com Unemployment Rate DifferenceRank March 2014March 2015 Austin MSA4.4%3.3%-1.11 San Antonio MSA Dallas MSA Minneapolis MSA Dallas MDiv Boston NECTADiv Fort Worth MDiv Seattle MDiv Houston MSA San Jose MSA Source: U.S. Bureau of Labor Statistics, LAUS.

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

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

WORKFORCE CURRENT EMPLOYMENT STATISTICS (CES)

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

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

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

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

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

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX austinchamber.com Nonfarm payroll jobs Mar Mar Mar Rank DifferencePercent Ch. San Jose MSA1,043,90054,7005.5% 1 Orlando MSA1,150,90050, San Francisco MDiv1,036,10043, Riverside MSA1,325,40053, Dallas MDiv2,347,20091, Miami MDiv1,123,10042, Louisville MSA637,20023, Fort Lauderdale MDiv798,90028, Anaheim MDiv1,533,40055, Salt Lake City MSA669,90023, Austin MSA929,70022, Source: U.S. Bureau of Labor Statistics, CES.

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

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 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.

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 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

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

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

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

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

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

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

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

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

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

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

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 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.

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

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 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.

WORKFORCE AVERAGE WEEKLY HOURS AND AVERAGE HOURLY EARNINGS

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

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

BUSINESS CYCLE INDEX

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 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 The index summarizes movements in:  Nonagricultural employment  The unemployment rate  Inflation-adjusted wages  Inflation-adjusted retail sales

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

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

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

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

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

HOUSING MARKET PERMITS

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX austinchamber.com Monthly average 20071, , , ,758 YTD ’151,812 Source: U.S. Census Bureau.

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

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

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX austinchamber.com Source: U.S. Census Bureau. Monthly average 2007$237M M M M M M M M YTD ’15 280M

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

HOUSING MARKET HOME SALES & PRICES

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

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

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

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

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

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX 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.

COMMERCIAL REAL ESTATE

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

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

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

SALES TAX & RETAIL SALES

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

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

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

VENTURE CAPITAL

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

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

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

PATENT ACTIVITY

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

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

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

AIR SERVICE

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

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

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

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

Austin Chamber of Commerce | 210 Barton Springs Road, Suite 400 | Austin, TX austinchamber.com Beverly Kerr, Vice President, Research Chris Ramser, Director, Research This file & latest monthly report/spreadsheets: Bi-monthly “Central Texas Economy in Perspective” articles: