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TDC IDEA - An Affiliate of the State Data CenterThe official website of The Development Corp.'s
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Archives
Census Releases New Local-Level Demographic Data Information from 2010 Census for New York
Labor Market Information for November 2011
by Paul Grasso
Labor Market Information for October 2011
by Paul Grasso
Labor Market Information for September 2011
by Paul Grasso
Labor Market Information for August 2011
by Paul Grasso
Labor Market Information for July 2011
by Paul Grasso
Labor Market Information for June 2011
by Paul Grasso
Labor Market Information for May 2011
by Paul Grasso
Labor Market Information for April 2011
by Paul Grasso
Labor Market Information for March 2011
by Paul Grasso
Labor Market Information for February 2011
by Paul Grasso
Labor Market Information for January 2011
by Paul Grasso
The worst job market since the Great Depression?
by Paul Grasso, January 22, 2011
None of you will be surprised that 2010 ended as a very difficult employment year, nationally, statewide, and locally. Just how challenging was it? The Bureau of Labor Statistics (BLS) began reporting unemployment data in 1948. The highest annual average unemployment rate occurred in 1982 when unemployment averaged 9.71%. In 2010, the average monthly national unemployment rate in the United States was 9.64%, the second highest on record. It pushed the average unemployment rate of 9.6% of 1983 into the number three spot.
[FULL STORY]
Vision 2040 - Part III
by Colin Read, December 16, 2010
The opportunities available to Clinton County are almost unprecedented. As we approach the fifteen anniversary of the closing of the former Plattsburgh Air Force Base, we have seen a dramatic growth in logistics and distribution companies, major new plants of Canadian corporations for passenger rail car and articulated bus manufacturing, and significant growth of our regional hospital and State University of New York college. Most recently, it has been announced that Laurentian Aerospace, another Canada-based company, will begin construction on a new, state of the art aircraft maintenance and repair facility.
[FULL STORY]
A Global Turnaround?
by Paul Grasso, December 17, 2010
Manpower Inc. recently released its annual Employment Outlook Survey. The survey revealed an improving story news for jobseekers. The survey notes that 28 of the 39 countries and territories surveyed expect hiring to improve in the first quarter of 2011. Germany, Italy, France, Canada, the United Kingdom, and the United States were among those predicting a more positive start to the New Year. Admittedly, 73 percent of employers in the US indicate they will keep staff levels unchanged. Still, the hiring projections are the most positive in 3 years. Germany painted the brightest picture, with unemployment expected to be at its lowest level in 18 years.
[FULL STORY]
Public Finance - Part II - The Tax Basis in Clinton County
by Colin Read, November 22, 2010
Last month, we noted that government played a significant role in the Clinton County economy. Indeed, the two largest sectors in Clinton County are education and general government at the state and local level. They generated a combined 7,122 jobs within the region, or almost 20% of all employment. They also generated a number of secondary and induced jobs that account for an additional 14% of employment. In total, more than a third of all jobs are supported by state and local governments.
[FULL STORY]
Is the Soft Patch Behind Us?
by Paul Grasso, November 22, 2010
Nationally, there was good economic news last month. The index of U.S. leading economic indicators rose for a fourth consecutive month and jobless claims climbed less than had been forecast. These signs may point to an improving economy.
According to the Conference Board, the organization that tracks the 10 economic indexes that signal peaks and valleys in the business cycle, "The economy is slow, but latest data on the economy suggest that change may be around the corner. Expect modest holiday sales, driven by steep discounting. But following a post-holiday lull, the indicators are suggesting a mild pickup this spring."
[FULL STORY]
Public Finance - Part I - Economic Stimulus
in Clinton County
by Colin Read, October 20, 2010
There has been significant debate across the nation and within our region about the form any economic stimulus should take. The debate is often along ideological lines, with little actual data used to illuminate the discussion. The IDEA, in conjunction with its public forum, Vision 2040, has been aggregating data and conducting research into fiscal issues in Clinton County.
[FULL STORY]
The Long Slog
by Paul Grasso, October 25, 2010
The National Bureau of Economic Research announced earlier this month that the "Great Recession" ended in June 2009. While the recession is technically over, for many Americans, it still feels the same. Certainly, the people looking for work at the region's three OneWorksource Centers sense that not much has changed with respect to jobs. And, according to a recent Gallup Poll, 82% of Americans believe that the economy is still in a recession - down slightly from 84% in September 2009.
[FULL STORY]
The Clinton County Accommodations Industry
by Colin Read, September 15, 2010
Last month, we calculated the economic effects in Clinton County from just one major weekend event. This month, we measure the overall effects of our accommodations industry in Clinton County.
[FULL STORY]
Clinton County bright spots on a barren canvas
by Paul Grasso, September 16, 2010
Founded in 1916 as an "objective and independent source of economic and business knowledge," the Conference Board is an international, non-advocacy business membership association. It conducts research across four areas:
[FULL STORY]
Putting Clinton County on the Map
by Colin Read, August 18, 2010
Last week, the Clinton County region hosted two inaugural events that are likely to bring it more visibility, and, ultimately, more jobs in the tourism sector. And, next week, we will enjoy the return of another major group that has made Plattsburgh a regular stop on a regional sporting tour.
[FULL STORY]
What Will Renew Consumer Confidence?
by Paul Grasso, August 19, 2010
There is no denying it; these are challenging times. This recession has been so deep and long-lasting that it has now affected a great many people who have been employed for decades. Some of these individuals may never before have known unemployment. It has affected many who believed that it would never happen to them.
[FULL STORY]
Planning for Our Economic Future
by Colin Read, July 21, 2010
Clinton County has experienced an illustrious economic past, and is currently enjoying a vibrant industrial present. However, while our economic past has followed a serendipitous path, and the present has benefited from the efforts and planning of The Development Corporation (TDC) and others, our future will require a much more concerted and coordinated effort.
[FULL STORY]
Are We Turning the Corner - Again?
by Paul Grasso, July 31, 2010
Georgetown University's Center on Earlier this month, the Bureau of Labor Statistics (BLS) reported in its Employment Situation Summary that the national unemployment rate dropped by 200 basis points to 9.5% in June. The national unemployment rate is now at its lowest level since July 2009 and has declined 0.7% from its highest level of the current recession in October 2009.
[FULL STORY]
The Economics of Tourist Destination Spending in Clinton County - Part I
by Colin Read, June 23, 2010
Clinton County has always been regarded based on its proximity to the world class cosmopolitan city of Montreal, just an hour's drive north. An hour west can bring a visitor to the Adirondacks and Lake Placid, home of two winter Olympics. Just an hour's drive and ferry east is Burlington, Vermont, with its pleasant shopping district, Church Street, and its celebration of Lake Champlain. And, an hour south are quaint villages, palatial homes, and upscale restaurants and recreation.
[FULL STORY]
A Better Match Between Higher Education and the Workforce
by Colin Read, June 24, 2010
Georgetown University's Center on Education and the Workforce released a report that is creating more than a little controversy among educators. The report outlined an "uneven relationship" between colleges and the job market. The authors argue that by 2018, more jobs will require advanced education, but that "colleges are not doing enough to prepare their students for the projected workforce."
[FULL STORY]
Living from the Land
by Colin Read, May 24, 2010
Clinton County has a rich rural past. At one time, the majority of the working population were employed in agriculture or related industries. Now, with dramatically improved agricultural efficiencies, fewer workers are employed in agriculture or forestry. However, these sectors remain important and significant parts of our local economy. They also provide the community with affordable fresh produce, a more diversified economy, and a source of tax revenue.
[FULL STORY]
Turning the corner toward a slow jobs rebound?
by Paul Grasso, May 24, 2010
There is good news for the state economy, finally. For the fourth consecutive month, New York State's economy has added jobs. The New York State Department of Labor reported that 31,500 private sector jobs (seasonally adjusted) were added in April.
[FULL STORY]
A Call to Plan
by Colin Read, April 21, 2010
Every business works within a vision, a mission, and a strategic plan. Yet, towns and cities often fail to engage in this same strategic planning exercise so necessary for competitiveness in the private sector. After all, the power to tax somewhat reduces the immediacy of producing and selling a competitive
product.
[FULL STORY]
The Hockey Stick Recovery
by Paul Grasso, April 21, 2010
A report recently released by the Pew Research Center shows that more than 1 in 5 unemployed people have been jobless for a year or more. Of course, this statistic could also be interpreted as 4 out 5 unemployed people have been unemployed for a year or less. Nonetheless, the Pew study showed that about 3.4 million people, or 23 percent of the unemployed in December, were jobless for at least 12 months. ¬ÝIt also documented a shorter average workweek, at just 33.1 hours, and an increase in the number of positions that have been permanently eliminated. These indicators have significant effects on extended unemployment and are an indication that long-term unemployment may persist even as the economy recovers.
[FULL STORY]
Health Care in Clinton County is Big Business
by Colin Read, March 18, 2010
The past two monthly columns described the overall Clinton County economy and the ten major employers in Clinton County. We discovered that the County generated total income of $2.795 billion in 2008. We also observed that the primary source of income is from labor. Much of that income was generated by just ten industries in 2008:
[FULL STORY]
New York Numbers Moving Sideways
by Paul Grasso, March 18, 2010
The United States Department of Labor reported a drop in the unemployment rate in January from 10% to 9.7%.¬Ý That was the good news. Interestingly, even though the national unemployment rate dropped, 30 states reported unemployment rate increases, 11 states reported no change, and only 9 states reported a decrease in their unemployment rate. Michigan again reported the highest unemployment rate in the nation (14.3%).
[FULL STORY]
When a job is more than a job - Part II
by Colin Read, February 17, 2010
The policy discussion over jobs is a hot topic in these times ’Äì and for good reason. In December, 2000, there were 137,792,000 individuals in the¬Ýemployed labor force in the United States. Almost ten years later, the employed labor force is essentially unchanged, at 137,792,000 individuals, by December of 2009.
[FULL STORY]
A Record-Breaking Year
by Paul Grasso, February 19, 2010
The final results are in, and 2009 will go down in history for an unfortunate reason. From the midst of the Great Recession, unemployment climbed to almost historic levels before falling toward year end. In January, the unemployment rate was 7.6% and climbed to 10% by December. The January to December average was an astounding 9.26%.
[FULL STORY]
When a job is more than a job
by Colin Read, January 25, 2010
Regional economists inevitably focus on jobs and job creation. This emphasis makes sense on one level because jobs provide income that puts food on the table. Payrolls from these jobs, when added to the income of businesses and to owners of property, and to the income of other factors of production, make up the bulk of our Gross Regional Product. However, not all jobs contribute equally to the regional economy. Economic symbiosis is also important.
[FULL STORY]
Filling in the hole
by Paul Grasso, January 18, 2010
A recent Bureau of Labor Statistics (BLS) report showed job losses to be moderating in November. With 7.8 million jobs lost since the beginning of the Great Recession in December of 2007, a loss of only 11,000 jobs in November is good news indeed. This news is on top of a positive revision to earlier data, showing that the labor market lost 159,000 fewer jobs in September and October than was previously thought. The "official" unemployment rate in December was 10.0%.[FULL STORY]
Developing a Community Vision
by Colin Read, December 14, 2009
Communities are complex entities. Characterized by interests representing a wide diversity of thought and experience, and buffeted constantly by forces coming from every direction, our community rarely has an opportunity to actively define its future.
[FULL STORY]
More state stimulus relief on its way?
by Paul Grasso, December 15, 2009
While there are signs of economic recovery on Wall Street, the unemployment lines on Main Street have yet to shorten. The unemployment rate nationally is currently 10% and is estimated by some to peak at about 11% next summer.
[FULL STORY]
A Robust and Unique Clinton County Workforce
by Colin Read, November 18, 2009
Almost every region's workforce is unique. The mix of industries responds to the particular resources and history of the region. And emerging industries capitalize on the mix of ages and needs as the community evolves. Projections of workforce needs leverages these coefficients that define the share of the workforce employed in each sector.
[FULL STORY]
Surprising Twists in the Unemployment Data
by Paul Grasso, November 17, 2009
The American economy technically may be back into growth mode, but the October unemployment number certainly did not do much to inspire the confidence of the average American in our economy.
[FULL STORY]
The Health of Clinton County
by Colin Read, October 12, 2009
Counties that are primarily rural face health care challenges not found in large urban areas. Clinton County is more fortunate than most because of its leading edge health maintenance programs and its access to a very high quality regional hospital located in the City of Plattsburgh. Nonetheless, health issues remain a county-wide focus.
[FULL STORY]
Prospects for Jobs as the Recession Winds Down
by Paul Grasso, October 14, 2009
You may have noticed that an increasing number of economists have been declaring recently hat the recession is over. Among them are: Ben Bernanke, the Federal Reserve Chairman, was quoted as saying that the "recession is very likely over at this point." Mark Vitner, a senior economist at Wachovia, stated, "we are in the early stages of the economic recovery." And Roger Tutterow, a professor or economics, declared that the recession "likely ended in either July or August."
[FULL STORY]
The Economics of Site Location in the North Country
by Colin Read, September 9, 2009
The choice of a commercial or industrial site is complex. Past articles have documented superior housing affordability, workforce steadiness, and location and distribution advantages in Clinton County. Ultimately, though, a site decision must be also driven by the economics of exchange rates, wage rates, and office space costs.
[FULL STORY]
Layoffs Slow as Slow Recovery Mounts
by Paul Grasso, September 9, 2009
The United States Department of Labor (USDOL) recently released the unemployment numbers from August 2009. As expected, the "official" unemployment rate continued its steady, albeit slower, march higher. Analysts were surprised, though, because the July unemployment numbers were slightly lower than expected.
[FULL STORY]
Housing Affordability in Clinton County
by Colin Read, August 12, 2009
Housing is the single most significant outlay for most middle income families. It is also a spending category that defies easy analysis. Family needs differ, housing quality, size, and location vary widely, commuting distances depend on both the housing choice and the employment decision, and such economic factors as income, debt, and mortgage rates affect choices. Despite these complications, housing remains one of the most important determinants of quality of life and is an important element for economic development.
[FULL STORY]
Unemployment in Clinton County Rises Slightly
by Paul Grasso, August, 2009
Some "green shoots" seem to be appearing on Wall Street, but indications of an economic recovery have yet to make their way to Main Street. The New York State Department of Labor (NYSDOL) reported that the state's unemployment rate increased to 8.7 percent in June 2009, its highest level since October 1992.
[FULL STORY]
A Green Corridor Runs Through It
by Colin Read, July 15, 2009
Clinton County is on to something. Part location, part innovation, it is clear that this region is taking advantage of fundamental shifts in business strategies.
For more than four hundred years, this region on the northern tip of Lake Champlain has been a gateway that connects different worlds. First it connected tribes that traded north to south, east to west. Then it connected these early supply chains of the New World to the Old World of Europe. Now it connects businesses that can access a huge hinterland from Montreal and Quebec City to Boston, New York, and beyond.
[FULL STORY]
Unemployment Rising, but the North Country Seeing Some Improvements
by Paul Grasso, July 13, 2009
The most recent unemployment figures show the country and the State of New York continue to sag under the weight of the Great Recession. Closer to home, the North Country is actually showing nice improvements, thanks, in part, to new manufacturers taking root in Clinton County.
The American economy has long been a consumer economy. It functions well when people are spending. The challenge facing government leaders today is how to reinvigorate the economy when so many consumers are out of work and those that are working have changed their buying habits.
[FULL STORY]
More Than 400 Years as a Transportation Economy
by Colin Read - June, 2009
All communities require an efficient transportation network to draw in the factors and goods they need to survive, and competitively transport out the items they sell to the nation and the world. Few communities have the movement of people and products so indelibly stamped on its character as does Clinton County, New York.
Transportation in the region predates New York statehood. Native American tribes established trade routes that traversed the region. The Five Nations of the Iroquois travelled by land and by water in pursuit of trade among themselves for a millennium before the arrival of European traders.
[FULL STORY]
Job Losses Begin to Taper Off
by Paul Grasso - June, 2009
The New York State's Department of Labor (NYSDOL) recently reported a seasonally adjusted private sector job count of 7,125,200, which represents a monthly decline of 15,600 jobs, or¬Ý 0.2 percentage points. While the state's private sector job count has dropped for eight consecutive months, the job losses are beginning to moderate. Since the state's private sector job count peaked in August 2008, New York has lost 189,000 private sector jobs, and has retained just over fifty percent of the 400,000 jobs added during the state's last economic expansion from 2003-2008. New York State's unemployment rate, after seasonal adjustment, fell to 7.1 percent in April 2009. The rate outside of New York City in April was 7.4 percent, down from 7.6 percent in March 2009.
[FULL STORY]
A Sustainable Supply Chain
By Colin Read, May 7, 2009
Clinton County is once again on the leading edge of economic trends. Like our neighbors to the north, this area is investing heavily in a sustainable supply chain. Eyefortransport, an organization that supports transportation, logistics and supply chain practitioners, recently released the results of a survey of 250 North American supply chain executives. They report that a sustainable supply chain is at the forefront of executives' concerns, and is fast becoming the first priority for many companies. The survey showed that 59% of respondents are implementing energy efficiency improvements, 42% are redesigning logistics networks, and 39% are measuring or reducing emissions.
[FULL STORY]
Fewer Job Losses in March; Education and Health Services Jobs Continue to Remain Strong
by Paul Grasso, May 10, 2009
The Dow Jones, S&P, and NASDAQ rallied recently when the April unemployment numbers were "better than expected." The United States Department of Labor and many economists predicted 620,000 job losses in April. The recently released data showed a loss of only¬Ý539,000 jobs. The number of jobs lost in February and March were higher than originally reported so some believe the April figure may yet be revised somewhat higher.
[FULL STORY]