Rocky Mountain region leads nation in job growth
The Bureau of Labor Statistics earlier this month reported that the U.S. added 138000 jobs in May. According to a new study by the University of Redlands Institute for Spatial Economic Analysis (ISEA), jobs across the country grew by 2266000, or 1.6%, since last May. The Rocky Mountain region led the nation with 2.4% annual job growth. The Great Lakes region grew the slowest at 1.1%.
Professional and Business Services drives job growth in past year
The largest job gains across the nation were in Professional and Business Services, with 622000 jobs added in the past year. Job gains in this industry were highest in Dallas-Fort Worth-Arlington TX (+31500 jobs), New York-Newark-Jersey City NY-NJ-PA (+31200 jobs), and New York-Jersey City-White Plains NY-NJ (+31000 jobs). The largest job losses in the past year were in Information (-16000 jobs nationwide). Job losses in this industry were highest in Los Angeles-Long Beach-Glendale CA (-7700 jobs), Los Angeles-Long Beach-Anaheim CA (-7700 jobs), and Northern Virginia VA (-3400 jobs).
Jobs grew fastest in zip codes with 1000 or more people per square mile
ISEA breaks down employment by zip code. The map above shows employment levels (represented by circle width) and annual change in employment (represented by circle color). Large circles represent a large number of workers, and green circles indicate fast growing zip codes.
Overall, areas with 1000 or more people per square mile grew faster than other areas at 1.8% over the year. This is followed by areas with 500-999 people per square mile (1.6% annual growth). Areas with less than 200 people per square mile grew the third fastest at 1.5%. Areas with 200-499 people per square mile grew the slowest at 1.5%.
State College PA is fastest growing MSA
The fastest growing metropolitan statistical areas (MSAs) were State College PA (growing at 5.8% over the year), Sebring FL (5.8%), and Glens Falls NY (5.2%). Zip codes in these counties can be identified on the map due to their large green circles. Slowest growing were Houma-Thibodaux LA (-4.9%), Ocean City NJ (-4.8%), and Casper WY (-4.3%). Zip codes in these MSAs can be spotted due to their large red or yellow circles.
This regional distribution of job growth can be clearly observed in the ISEA employment animation for the U.S. on the ISEA YouTube channel at https://www.youtube.com/user/ISEAatRedlands.
Detailed reports by zip codes and small regional areas can be generated with the ISEA Data Explorer. A short introduction on how to use this map-based interface can also be found at the ISEA YouTube channel. Could you give us some feedback to improve this tool? If yes, please go to https://www.surveymonkey.com/r/ISEASurvey and fill out our 5 minute survey. Thank you very much in advance!
The researchers combined today’s data release on employment by industry from the Bureau of Labor Statistics with business pattern data by zip code and industry from the U.S. Census Bureau to arrive at their projected values. National, BEA region and state employment are seasonally adjusted. Total non-farm employment by MSA are also seasonally adjusted, while MSA sectoral employment and zip code employment are not. Employment within MSAs cover about 80 percent of total national employment. The researchers point out that, given the data available to them, their projected values are only rough approximations of the true values, and that accuracy is higher for counties with larger populations. Despite those shortcomings, the observed patterns should still be helpful for decision makers in politics, businesses and organizations to determine where to best direct their efforts.
About the University of Redlands Institute for Spatial Economic Analysis (ISEA)
The Institute for Spatial Economic Analysis (ISEA) serves regional, national and global business and government leaders in their needs to better understand how socio-economic phenomena affect their communities. A division of the University of Redlands School of Business, ISEA publishes ongoing, timely reports covering retail, employment, housing, logistics and other special topics. A key distinction of the Institute is its ability to illustrate economic trends and patterns through the use of geo-spatial mapping techniques. In addition, ISEA’s ability to provide Zip code level analysis for many of its reports provides unprecedented detail. Current ISEA economic data and interactive maps may be found at http://www.iseapublish.com/map/
Author: Jess Chen, Ph.D., Jess_Chen@redlands.edu
Faculty Fellow at the Institute for Spatial Economic Analysis,
University of Redlands, School of Business
Contact: Johannes Moenius, Ph.D., email@example.com, 909-557-8161
Director, Institute for Spatial Economic Analysis,
University of Redlands, School of Business