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The Northeast Kingdom & Vermont Newport, VT October 24, 2014 Mathew Barewicz Economic & Labor Market Information Division Vermont Department of Labor www.vtlmi.info.

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Presentation on theme: "The Northeast Kingdom & Vermont Newport, VT October 24, 2014 Mathew Barewicz Economic & Labor Market Information Division Vermont Department of Labor www.vtlmi.info."— Presentation transcript:

1 The Northeast Kingdom & Vermont Newport, VT October 24, 2014 Mathew Barewicz Economic & Labor Market Information Division Vermont Department of Labor www.vtlmi.info

2 E&LMI: W HO ARE WE ? The Economic & Labor Market Information Division – housed in the Vermont Department of Labor – state partner to the federal government – 100% federally funded Purpose: - to produce, explain and disseminate economic data for the benefit of the State of Vermont, educational institutes, employers, students, job-seekers, researchers, and the general public. www.vtlmi.info

3 Nationwide, job losses during this recession outpace anything in recent history: www.vtlmi.info

4 The Great Recession: Digging out of a very deep hole www.vtlmi.info

5 Perhaps the most troubling US trend… www.vtlmi.info

6 Losses in Vermont resemble 1990… But recovery has been far slower www.vtlmi.info

7 The Burlington MSA has outpaced the state www.vtlmi.info

8 S O WHAT DOES IT ALL MEAN ? -The economy is just now getting back to where it was before the last recession -The “recovery” has not been felt by all -And what about the NEK??? www.vtlmi.info

9 T HE R ECENT E CONOMIC H ISTORY OF THE NEK www.vtlmi.info

10 T HE R ECENT E CONOMIC H ISTORY OF THE NEK www.vtlmi.info

11 T HE R ECENT E CONOMIC H ISTORY OF THE NEK www.vtlmi.info But that doesn’t tell us anything… – Differences in industry composition and occupational opportunities – Average wage is not the experience of all – Inflation – Etc…

12 D ATA L IMITATIONS - A VAILABILITY www.vtlmi.info

13 T HE R ECENT E CONOMIC H ISTORY OF THE NEK www.vtlmi.info

14 % Change: Employment 2000 v. 2012 www.vtlmi.info

15 B UT B EFORE I GO … -A quick point about the labor force… www.vtlmi.info

16 Labor Force Percent Change by Age Group: Projected 2012-22 16 Total labor force growth= 5.5%

17 T HE F UTURE …. MAYBE www.vtlmi.info

18 E&LMI: R ESOURCES Regional information Publications like the Economic & Demographic Profile Series Employment by Industry data; Including breakdowns by county and by size of firm Employer Database – publicly* available, searchable directory of employers *(not VDOL data) www.vtlmi.info

19 Questions…. & Thank you! Mathew Barewicz Economic & Labor Market Information Division Vermont Department of Labor 802.828.4153 www.vtlmi.info

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