Utah Today U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S.

Slides:



Advertisements
Similar presentations
by Steve H. Murdock Institute for Demographic and
Advertisements

Halftime Highlights Minnesota at Mid-Decade. Minnesota Ranks 1 st in home ownership 2 nd in labor force participation 3 rd highest in high school completion.
Minnesota Demographic Trends In A Changing World Tom Gillaspy, State Demographer Mn Dept of Administration August 2008.
Utah Economic Update May 2013 Natalie Gochnour, Associate Dean.
The North East Economy: A great place to invest. Overview of North East LEP Area.
Indianapolis-Carmel MSA
Utah Economic Report January 21, Labor Market Indicators December 2013 Utah unemployment rate4.1% U.S. unemployment rate6.7% Year-over Utah job.
Texas Demographic Characteristics and Trends Million Reasons to be Proud of Texas (among a few more) Demographic Highlights TEXAS is: big. The population.
by Steve H. Murdock Department of Rural Sociology
Urban Economics Introductory Lecture. Model of a Rural Region n Inputs. Labor and land n Two goods. Wheat and cloth n Equal productivity n No scale economies.
Changing Demographics in Texas
Demographic Trends in Missouri Missouri Library Planning Group Osage Beach May 9, 2007 Bill Elder, Director Office of Social & Economic Data Analysis University.
Ch. 6: MONITORING CYCLES, JOBS, AND THE PRICE LEVEL The business cycle Measures of labor market activity Unemployment –Sources –Duration –Groups affected.
Utah Economy 101 Presented by Natalie Gochnour Wells Fargo Economic Summit for Nonprofits May 4, 2010.
Texas Demographic Characteristics and Trends Texas Association of Mutual Insurance Companies October 7, 2010 Round Rock, TX 1.
Projection of West Virginia K-12 (0-19 Years Old) Population Christiadi Bureau of Business and Economic Research College of Business and Economics West.
Texas Demographic Characteristics and Trends Joint House Redistricting Committee hearing with the House Committee on Judiciary and Civil Jurisprudence.
CHARACTERISTICS OF INDIAN ECONOMY SINCE INDEPENDENCE.
Socio-Economic & Demographic Data Tools for Proactive Planning Robin Blakely-Armitage STATE OF NEW YORK CITIES: Creative Responses to Fiscal Stress March.
PROMOTING EXCELLENCE IN GOVERNMENT Demographics, Projections, and College Readiness Matt Hauer Applied Demography Program.
Texas Demography: Change, Projections, and English Learners Lloyd Potter Texas Education Agency April 8, 2010.
© 2013 Pearson. How long does it take to find a job?
New York State’s Labor Force Drivers Presented by Kevin Jack, Statewide Labor Market Analyst August 2008.
cteconomy.uconn.edu Top Ten Economic Myths Myth #10 Recovery? What Recovery?
Texas Demographics and Sustainability Texas State University November 17, 2010 San Marcos, TX 1.
Wayne County Demographic and Economic Profile Prepared by Lecia Parks Langston Regional Economist
Literacy and Poverty in Greater Cleveland
What’s Happening on Main Street Montana Main Street Montana Project Presentation Given at the League of Cities and Towns Conference at the Red Lion Helena,
Coastal Bend and State Population % Distribution by Age Groups % Fewer in Working Age Source: US Census.
What’s Happening on Main Street Montana Main Street Montana Project Roundtable Great Falls, Montana June 12, 2013.
Population Change in The United States: Implications for Human and Socioeconomic Resources in the 21st Century by Steve H. Murdock Institute for Demographic.
Minnesota Demographic Change And Dentistry Tom Gillaspy, State Demographer Mn Dept of Administration March 2008.
What’s Happening on Main Street Montana Adapted from the Main Street Montana Project Presentation Helena, Montana June 27, 2013.
North Dakota State University, IACC Room 424, P.O. Box 6050, Dept. 8000,Fargo, ND Phone: (701) : The Impact.
1 The Regional Economic Outlook Rae D. Rosen Senior Economist and Assistant Vice - President Federal Reserve Bank of New York January 5, 2006.
2015 Labor Day Report: Annual Report on the State of Montana’s Economy Barbara Wagner Chief Economist Labor Arbitration Conference October 8, 2015 Fairmont,
Monitoring Jobs and the Price Level CHAPTER 6. After studying this chapter you will be able to Define the unemployment rate, the labor force participation.
1 January 25, Nebraska Profile 2011 NEBRASKA PROFILE Ninth Edition  State, 8 Regions, 93 Counties, plus 18 Cities – Three Volumes  Demographic.
Dallas Small Business Economy Strengthening the Economy by Strengthening Microbusiness: A North Texas Forum January 31, 2012.
Facts and Myths: Montana’s Aging Population & Its Impacts on The Economy Mary Craigle Bureau Chief Census and Economic Information Center (CEIC) MT Dept.
Briefing on the Regional Economy Rae D. Rosen Senior Economist Federal Reserve Bank of New York September 5, 2002.
TAX REVENUE VOLATILITY & LABOR MOBILITY. Volatility of Tax Revenues  Why should we care about the volatility of our state tax revenues?  Our livelihood.
UTAH HOUSING CORPORATION 2006 HOUSING CREDIT CONFERENCE JAMES WOOD BUREAU OF ECONOMIC AND BUSINESS RESEARCH DAVID ECCLES SCHOOL OF BUSINESS UNIVERSITY.
Measures of Employment. What agency measures the unemployment rate?
UTAH HOUSING MARKET: CYCLES AND CONDITIONS JAMES WOOD BUREAU OF ECONOMIC AND BUSINESS RESEARCH DAVID ECCLES SCHOOL OF BUSINESS UNIVERSITY OF UTAH APRIL.
What’s Happening on Main Street Montana Main Street Montana Project Roundtable Billings, Montana May 23, 2013.
Texas Demographic Data Users Conference May 22, 2014 Austin, Texas.
Utah’s Economic Climate Presented by Natalie Gochnour Wells Fargo Economic Summit for Nonprofits May 4, 2010.
2015 Labor Day Report: Annual Report on the State of Montana’s Economy Barbara Wagner Chief Economist State Workforce Investment Board Meeting September.
LESSON 14 INCOME DISTRIBUTION 14-1 HIGH SCHOOL ECONOMICS 3 RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY Household Income Activity 1. Rank.
2015 Labor Day Report: Annual Report on the State of Montana’s Economy Barbara Wagner Chief Economist Labor Arbitration Conference October 8, 2015 Fairmont,
Trends in Labor Force Participation in the United States, by Age and Race/Ethnicity from 1990 to 2020 Projections Prepared by the Community Service Council.
Minnesota Schools And Demographic Change Tom Gillaspy, State Demographer Mn Dept of Administration January 2008.
BULL OR BEAR: The Business Climate in North Carolina.
Economics and Statistics Administration U.S. CENSUS BUREAU U.S. Department of Commerce The Foreign-Born Population in New Mexico Size, Distribution, and.
Presented by Harry M. Davis, Ph.D NCBA Professor of Banking and Economist Appalachian State University October 29, 2015.
Demographics Point To An Increased Role For Training Tom Gillaspy, State Demographer Mn Dept of Administration May 2009.
I Source: U.S. Census Bureau Analysis by Kentucky Population Research, State Data Center, University of Louisville.
Figure 4.1 Utah Population Growth Rates by County: 2013 to 2014 Source: U.S. Census Bureau Box Elder 1.3% Cache 0.9% Rich 0.5% Weber 0.9% Tooele 1.4% Salt.
Changing Workforce Demographics in Michigan June 13, 2006 Operation ABLE Tenth Annual Think Tank for Human Resources Professionals, Employers, and Human.
Community Foundation of Collier County Our Mission: To improve the quality of life in Collier County by connecting donors to community needs and providing.
UTAH HOUSING MARKET: CYCLES AND CONDITIONS JAMES WOOD BUREAU OF ECONOMIC AND BUSINESS RESEARCH DAVID ECCLES SCHOOL OF BUSINESS UNIVERSITY OF UTAH MARCH.
Monitoring Jobs and the Price Level CHAPTER 6. After studying this chapter you will be able to Define the unemployment rate, the labor force participation.
Careers in Quality January 21, 2011 Purdue University Calumet Robyn Minton Vice President of Operations Center of Workforce Innovations.
THE STATE OF OUR REGION Bud Colligan Co-Chair, Monterey Bay Economic Partnership.
WOODY L. HUNT, CHAIRMAN HIGHER EDUCATION STRATEGIC PLANNING COMMITTEE THE FUTURE OF HIGHER EDUCATION IN TEXAS July 23,
The role of TRANSPORTATION in a robust economy UTA Transit Academy
Missouri State of the Workforce report
Economic Update & Outlook Arizona State Board of Equalization
Why Atlanta For Business
Presentation transcript:

Utah Today U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S

Source: Utah Department of Workforce Services Utah Job Growth Rates U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S

Source: Utah Department of Workforce Services Utah Job Count U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S

Anatomy of a Business Cycle

U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S Anatomy of a Business Cycle

Source: U.S. Bureau of Labor Statistics Employment decline peak to trough Utah Fared Worse than Most States During the Contraction U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S Source: U.S. Bureau of Labor Statistics and Utah Dept. of Workforce Services

U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S Anatomy of a Business Cycle

Source: U.S. Bureau of Labor Statistics; June 2013 Current Employment Statistics estimates. Employment growth trough to recovery Utah Fared Better than Most States During the Recovery U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S

Why? U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S

Fiscal Fitness Fiscal Responsibility Checklist 1 1

Source: Department of Workforce Services Top Ten States: 2011 Economic Balance Utah has the fourth most diversified economy in the country U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 2 2 Utah ranks 4th

UtahU.S. Highest fertility rate (2011) Youngest median age (2012) Percent under 18 (Utah ranks 1 st ) (2012)32.1%23.9% Percent 65 and older (Utah ranks 50 th ) (2012)9.5%13.7% Largest household size (2012) Rapidly growing (% ch ; Utah ranks 3 rd )23.8%9.7% Life expectancy (Utah ranks 10 th ) (2010) Sources: National Vital Statistics Reports; U.S. Census Bureau; The Henry J. Kaiser Family Foundation Young, Healthy and Growing Utah has the most distinctive demographic profile in the nation U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 3 3

Utah Income Rankings: 2012 U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S Per capita income 47 th Per capita household income 33 rd Average annual pay 37 th Median household income 11 th Income equality1 st Sources: U.S. Bureau of Economic Analysis, U.S. Census Bureau, and U.S. Bureau of Labor Statistics

2010 Gini Coefficient Source: U.S. Census Bureau, 2010 American Community Survey U.S. average = Equality of Income Utah has the most equal income distribution among states U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 4 4 Five states with the most equal distribution of income Utah ranks 1 st

2010 Income Equality A Utah hallmark U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S Most equal at state level Most equal at the metropolitan level Salt Lake (1 st ) Most equal at the cities over 100,000 population West Jordan (1 st ) West Valley City (7 th ) Third most equal at the neighborhood level Census tract Source: U.S. Census Bureau, 2010 American Community Survey

U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S Third Greatest Income Equality at a Neighborhood Level in the U.S. Census Tract KEARNS

Source: World Trade Center Utah Global Engagement Utah more than doubled exports in the past five years U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 5 5

Source: World Trade Center Utah Utah Non-Primary Metal Exports U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 77% increase

Utah’s Global Awareness U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 22% of Utah jobs tied to exports 7,700 international students 20,000 K-12 dual immersion students 129 languages spoken in homes of elementary students 2 nd best soccer team in the country! Source: World Trade Center Utah

Top Ten States: 2011 Regulatory Climate States with the most business-minded regulatory environment U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 6 6 Source: Mercatus Center, George Mason University Utah ranks 7th

Source: Tax Foundation, State Business Tax Climate Index Competitive Tax Structure 2014 State Business Tax Climate Index U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 7 7

Challenges U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S

Source: U.S. Census Bureau Population living in urban areas Urban Growth Utah is an urban state with urban issues U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S % Urban % Rural

Source: U.S. Census Bureau Top Ten States: 2011 Utah is the 9 th Most Urban State 2010 percent of population that is urban U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S Utah ranks 9th

Source: U.S. Bureau of Labor Statistics and Utah Department of Workforce Services Discouraged Workers Too many workers are on the sidelines Utah labor force participation rate U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S ?

Utah Today: Favorably Positioned U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S 1.Fiscally responsible -- #1 2.Economically balanced -- #4 3.Young, healthy and growing -- #1 4.Equality of income unlike any state -- #1 5.Globally engaged – Top 10 6.Reasonable regulatory climate -- #7 7.Competitive tax structure -- #9

Utah Today Favorably Positioned U N I V E R S I T Y of U T A H D A V I D E C C L E S S C H O O L of B U S I N E S S