All Economics is Local

Census Bureau Reports Number of U.S. Businesses Declines by Nearly 104,000 in 2008

 U.S. businesses with paid employees lost almost 104,000 establishments in 2008, bringing the total number to 7.6 million. However, the total number of people they employed rose to 121 million, with businesses adding approximately 300,000 employees to their payrolls.

These findings come from County Business Patterns: 2008, which provides the only detailed annual information on the number of establishments, employees, and quarterly and annual payroll for most of the 1,100 industries covered at the national, state and county levels. US Census Bureau

75 Percent of Nation's Top Metro Areas Post Increasing Foreclosure Activity in First Half of 2010

154 of the 206 U.S. metropolitan areas with a population of 200,000 or more posted year-over-year increases in foreclosure activity even while foreclosure activity decreased in nine of the 10 metros with the highest foreclosure rates. Four states -- Florida, California, Nevada and Arizona -- accounted for all top 20 metro foreclosure rates. Florida led the way, with nine of the top 20 metro foreclosure rates, followed by California with eight, Nevada with two and Arizona with one. Yahoo Finance (includes full metro listing)

METROPOLITAN AREA EMPLOYMENT AND UNEMPLOYMENT -- JUNE 2010

Unemployment rates were lower in June than a year earlier in 185 of the 372 metropolitan areas, higher in 168 areas, and unchanged in 19 areas. In June, 226 metropolitan areas reported over-the-year decreases in nonfarm payroll employment, 135 reported increases, and 11 had no change. US Bureau of Labor Statistics  PDF

The Best Cities For Working Mothers

Forbes begans with the 50 largest metropolitan statistical areas in the U.S. while working under the notion that "best" means different things to different women. Job opportunities, high earnings potential and a budget-friendly cost of living come into play, not to mention employment rates (ideally high) as well as women's average weekly earnings. But it's also important for moms to look into other factors too, like health care. Forbes

Export Nation: How U.S. Metros Lead National Export Growth & Boost Competitiveness

Comprehensive analysis of U.S. exports of goods and services produced in America’s 100 largest metropolitan areas. Brookings

 

Occupational Pay Comparisons Among Metropolitan Areas

Average pay for civilian workers in the San Jose-San Francisco-Oakland, CA metropolitan area was 20 percent above the national average in 2009, one of 77 metropolitan areas studied by the National Compensation Survey (NCS).  The Brownsville-Harlingen, TX metropolitan area had a pay relative of 79, meaning workers earned an average of 79 cents for every dollar earned by workers nationwide. Bureau of Labor Statistics  (PDF)

Job Growth in U.S. Metros: July 2010 Employment Analysis

Emerging trends among U.S. metros over the first five months of 2010. Garner Economics

 

 

America's Best Places to Live

These cities -- even now -- boast plenty of jobs, great schools, safe streets, low crime, lots to do, charm, and other features that make a town great for raising a family. CNNMoney

 

Most Affordable Places To Live Well

Ten spots where quality of life is high, homeownership is within reach of many and fun is to be had. Forbes

The 8 Most Expensive Cities In America

Based on Mercer's annual cost of living survey that is is designed to help corporations set salaries for international employees. Business Insider

County Employment & Wages 2009 4Q

From December 2008 to December 2009, employment declined in 325 of the 334 largest U.S. counties. Trumbull, Ohio, posted the largest percentage decline, with a loss of 8.6 percent over the year, compared with a national job decrease of 4.1 percent.

Average weekly wages for the nation increased by 2.5 percent over the year ending in the fourth quarter of 2009. Among the 334 largest counties, 305 had over-the-year increases in average weekly wages in the fourth quarter. The largest wage gain occurred in Douglas, Colo. US Bureau of Labor Statistics

 

294 OUT OF 337 METRO AREAS LOSE CONSTRUCTION JOBS FROM MAY 2009 TO 2010

Construction employment declined in 294 metropolitan areas between May 2009 and May 2010, increased in 16 metro areas, and held steady in another 27. Eleven metro areas have lost over 10,000 construction jobs each during the past 12 months, while one–in–three cities added 1,000 or more jobs during the same period.

Most jobs were added in Columbus, Ohio while Eau Claire, Wisconsin has the highest rate of job growth; Chico, California has highest rate of decline and Chicago loses the most jobs. Associated General Contractors (AGC) of America

Metropolitan Area Employment and Unemployment - May 2010

Unemployment rates were higher in May than a year earlier in 222 of the 372 metropolitan areas, lower in 141 areas, and unchanged in 9 areas. Thirteen areas recorded jobless rates of at least 15.0 percent, while 9 areas registered rates below 5.0 percent. The national unemployment rate in May was 9.3 percent.

In May, 270 metropolitan areas reported over-the-year decreases in nonfarm payroll employment, 95 reported increases, and 7 were unchanged.  The largest over-the-year employment decrease was recorded in Los Angeles-Long Beach-Santa Ana, Calif. (-84,300), followed by Chicago-Joliet-Naperville, Ill.-Ind.-Wis. (-75,200), New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa. (-66,200), and San Francisco-Oakland-Fremont, Calif. (-53,400).

The largest over-the-year increases in employment occurred in Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va. (+13,200), Honolulu, Hawaii (+4,400), Kokomo, Ind. (+4,100), and Austin-Round Rock-San Marcos, Texas (+4,000). US Bureau of Labor Statistics

 

America's Recovery Capitals

Analysis and annual growth prospects of employment and economic output for the 25 largest metro areas in each of the four regions of the country--the South, the Midwest, the West and the Northeast. Those that made the list had the best combination of job and ouput growth, equally weighted. Forbes

Census Bureau Reports Nation Has Nearly 350,000 Fewer Nonemployer Business Locations

Nonemployer businesses have no paid employees, have annual business receipts of $1,000 or more ($1 or more in the construction industries) and are subject to federal income taxes.

Among the 50 counties with the largest number of nonemployer establishments, Wayne County, Mich. — home to Detroit — led the nation with a 6.8 percent increase of nonemployer establishments between 2007 and 2008, followed by Harris County, Texas — home to Houston — with a 5.6 percent increase, and Miami-Dade County, Fla., with a 3 percent increase. US Census Bureau

Census Bureau Releases 2009 City Population Estimates

The U.S. Census Bureau released July 1, 2009, population estimates for each of the nation's incorporated places, including cities, boroughs and villages and minor civil divisions, such as towns and townships.

Among cities with populations over 100,000, Frisco TX grew the fastest between 2008 and 2009, up 6.2 percent. Cities in Texas claimed four spots in the ten fastest growing growing places. US Census Bureau

Where Americans Are Moving

Surprise: America's wealthy like warm weather and low taxes. That's the takeaway from IRS data, analyzed by Forbes, on moves between counties. We looked for counties that the rich are moving to in big numbers. Forbes

June 2010 — MetroMonitor: Tracking Economic Recession and Recovery in America’s 100 Largest Metropolitan Areas

The U.S. economy’s performance is driven largely by that of its major metropolitan economies. All of those economies saw some economic growth in the first quarter of 2010, and some returned to their pre-recession levels of output, but none recovered its pre-recession employment level. Most continued to lose jobs and experience high unemployment rates. Brookings

Top 10 Metro Areas with Decrease in Unemployment Rates

The top 10 metro areas where the unemployment rate has reduced the most compared to one year earlier EconPost

Housing Stays Highly Affordable For Fifth Consecutive Quarter

Housing hovered for the fifth consecutive quarter near its highest level of affordability in 19 years.

Indianapolis-Carmel and Youngstown-Warren-Boardman, Ohio-Pa., shared the ranking as the most affordable major housing markets in the country. In Indianapolis, which has held this top ranking for nearly five years, almost 95 percent of all homes sold were affordable to households earning the area’s median family income of $68,700.

New York-White Plains-Wayne, N.Y.-N.J., continued to lead the nation as its least affordable major housing market during the first quarter of 2010. Slightly less than 21 percent of all homes sold during the quarter were affordable to those earning the New York area’s median income of $65,600. This was the eighth consecutive quarter that the New York metropolitan division has occupied this position. National Association of Home Builders   Detailed metro tables

AP County-Level Economic Stress Index Updated

Associated Press has updated its Economic Stress Index with April 2010 data. The Economic Stress Index measures the relative economic impact of the recession and its recovery by integrating the cumulative effects of three economic indicators: unemployment, foreclosures and bankruptcies. Associated Press

 

15 of 28 U.S. Metros Monitored By Monster.com Register Increase

Online recruitment activity rose in 15 major metropolitan markets, with Orlando registering the largest monthly gain. Although current levels of online job demand in this market remain well below the 2005 and 2006 periods, activity has nonetheless improved consistently over the past year. Monster.com National report (PDF)  Local Reports

Metro Employment Change & Unemployment: April 2010

Unemployment rates were higher in April than a year earlier in 291 of the 372 metropolitan areas, lower in 73 areas, and unchanged in 8 areas. Fourteen areas recorded jobless rates of at least 15.0 percent, while 8 areas registered rates below 5.0 percent. The national unemployment rate in April was 9.5 percent, not seasonally adjusted, up from 8.6 percent a year earlier.

In April, 300 metropolitan areas reported over-the-year decreases in non-farm payroll employment, 64 reported increases, and 8 were unchanged. The largest over-the-year employment decrease was recorded in Los Angeles-Long Beach-Santa Ana, Calif. (-111,200). The largest over-the-year increases in employment occurred in Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va. (+5,800). US Bureau of Labor Statistics

1st Quarter 2010 House Price Index

For the 25 most populated metropolitan areas in the U.S., four-quarter price declines were greatest in the Tampa-St. Petersburg-Clearwater, FL area. That area saw price declines of 8.9 percent between the first quarters of 2009 and 2010. Prices held up best in the Washington- Arlington-Alexandria, DC-VA-MD-WV area, where prices rose 11.7 percent over that period. Federal Housing Finance Agency (full metro list begins on page 29) PDF

 

2010 Quality of Life Metro Rankings

Criteria: The study looked for well-rounded metros with healthy economies, light traffic, moderate costs of living, impressive housing stocks, and strong educational systems. Portfolio/bizjournals.com

Kiplinger's Best Cities 2010

Using a formula that identifies cities with current and likely future growth in high-quality jobs and income, also weighed affordability and public-transit infrastructure --plus a measurement of the "creative class." Kiplinger

Health and Community Fitness Status of the 50 Largest U.S. Metropolitan Areas

Report reflects a composite of preventive health behaviors, levels of chronic disease conditions, health care access, and community resources and policies that support physical activity. American College of Sports Medicine 

2009 Car Theft Hot Spots

Of the 366 MSAs within the United States, 304 (83 percent) of them reported lower thefts than they experienced in 2008. As suggested in the FBI’s 2009 preliminary semi-annual crime report published last December, vehicle theft may drop by as much as 18 percent from 2008’s numbers once the final figures are tabulated in the fall. National Insurance Crime Bureau

Experian Ranks Top 20 Major U.S. Metropolitan Areas by Average Debt Per Consumer

Ranking of the average debt per consumer in the top 20 major U.S. metropolitan areas. Approximately 65 percent of these areas exceeded the national average consumer debt, which was $24,775 in March. Within the top 20 major U.S. metropolitan areas, Seattle is the most debt-burdened city, coming in at almost $2,000 above the national average debt per consumer, while Los Angeles has the lowest average debt. Experian Press Release

Metro Occupational Employment and Wages Summary-2009

Retail salespersons, cashiers, general office clerks, combined food preparation and serving workers, and registered nurses were among the occupations with the highest employment in 2009. Occupations with the lowest employment included watch repairers,astronomers, and radio operators.

Wages for the selected occupations varied by metropolitan area. For example, among the metropolitan areas shown, mean wages for cashiers ranged from $7.86 in Anniston-Oxford, Ala., to $10.54 in Los Angeles-Long Beach-Glendale, Calif., while wages for team assemblers ranged from $11.68 in Rocky Mount, N.C., to $25.14 in Tuscaloosa, Ala. Bureau of Labor Statistics News Release   Metro Details