The economy - where are the jobs
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An examination of current trends in unemployment with a look at future - what is likely to happen in the labor market. Examines how demographics and population changes will influence jobs, economic growth and economic development
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The economy - where are the jobs
- 1. Where are the jobs? IEDC 2010 Annual Conference By Mark W. Tatge E.W. Scripps Professor Ohio University PLEASE NOTE:. Rights to images are protected under federal copyright law and are being used under fair-use provisions. This presentation was prepared for non-commercial educational purposes. This presentation was created and is protected under copyrights held by Deadline Reporter LLC. Please respect copyright law if you reuse this presentation and use it only for non-commercial purposes.
- 2. Economy on the mend Recession ended June 2009. Deepest since Great Depression. Economy lost 8 million jobs.
- 3. WhatEconomicRecovery? Source: New York Times
- 4. Too few job openings
- 5. Unemployment less for higher educated
- 6. Except for older workers Source: NYT, Bureau of Labor Statistics
- 7. States strugglewith job losses Nevada highest in the nation at 14.4%. Michigan stands second at 13.1%. California is third at 12.4%. Unemployment rose in 27 states July-August. National unemployment rate stands at 9.6%.
- 10. Big Trends affecting jobs 2010-2025
- 11. Taxes and deficits Government raises taxes to repay debt. Source: CBO
- 12. Debt will slow growth
- 13. Population growth 1995-2025 Source: U.S. General Accounting Office, “Freshwater Supply: States’ Views of How Federal Agencies Could Help Them Meet the Challenges of Expected Shortages,” GAO-03-514. General Accounting Office, Washington, DC, July 2003, p. 58 applying data from the U.S. Census Bureau)
- 14. U.S. migration 2009 Source: United Van Lines
- 15. U.S. Birth Rate Declines
- 16. Future Growth Trends Best jobs go where best skilled labor is available. High value jobs – college educated / specialty skills. University towns will remain a major draw. Favor low cost of living / moderate taxes. Good access to transportation hubs – rail, road ports and air cargo. Favorable demographics – young educated, growing.
- 17. Best Places for Jobs in 2010 Source: Forbes
- 18. Forbes Best Metro Areasfor business and careers Des Moines Denver Fayetteville Raleigh, NC Charlotte, NC Source: Forbes, April 2010
Editor's Notes
- The U.S. has lost more jobs than it has added since the recovery began.
- The job openings rate — which refers to the number of job openings, as a percentage of total existing and open jobs — rose.
- The combined budget gaps for the remainder of this fiscal year and then those of 2010 and 2011 are a stunning $350 billion. This number is simply jaw dropping and Wednesday’s horrific retail sales numbers tell us that this recession is already going to be the worst since World War II and possibly since the Great Depression.
- The share of debt held by the public will double — to 82.4% in 2019 from 40.8% in 2008.” This will be a drag on economic growth.
- This graph shows how every man, woman, and child, as an average citizen, owes $170,000. The rise from $3,101 in 1952 to $20,795 in 1980 represents a 670% increase over 28 years. Over the next 28 years, from 1980 to 2008, the increase was 817%. From:http://christianhamilton.com/index.php?title=Economics&printable=yes
- Favors Southeast and the West
- Growth trends through 2020 continue to favor South and West, but Midwest states with proximity to transportation or specialized skills will continue to remain valuable to businesses seeking to relocate.
- Concerns about where future workers will come from – if birth rates continue to decline.
- Low costs and skilled labor win business.
- Midwest and West – not the coasts which are overbuilt and under pressure.
- Middle size cities in the Midwest, South and Mountain States continue to be the most favorable for growth because of educated workers, proximity to trnasporation networks and low cost (land, wages and taxes.)