1 valdosta-lowndes 2010 economic survey prepared by illuminomics for valdosta-lowndes chamber of...

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Valdosta-Lowndes 2010 Economic Surveyprepared by Illuminomics for Valdosta-Lowndes Chamber of Commerce

Regional Wage and Employment Trends

A Comparative Analysis 1990-2009

The following analysis was performed by Illuminomics with the support of the Valdosta-Lowndes Chamber of Commerce.

All data contained in this analysis is taken directly from the most authoritative local, state and nationally recognized sources, using the most currently available data sets. To ensure data accuracy and integrity, no multipliers were used in any calculations

and all non-confidential data can be independently verified from public sources.

Chris MillerCEO Illuminomics

Myrna BallardPresident Chamber of Commerce

ReKasa DeenChamber of Commerce

Dec 22nd 2010 v1.3

Illuminomics | PO Box 10754, Savannah, GA 31412 | 912-484-7192 | www.illuminomics.com

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NAICS KBB+ Sector Description

Information Technology511-- Publishing industries (including software)512-- Motion picture and sound recording industries515-- Broadcasting, except Internet516-- Internet publishing and broadcasting517-- Telecommunications518-- Data processing, hosting and related services519-- Other information services

Environmental Technology541-- Professional, technical & design services551-- Management of companies and enterprises

Medical Services & Support (listed separately as “Health Care”)621-- Ambulatory health care services (physicians, dentists, labs, etc)622-- Hospitals

Targeted Business Expansion Sectors

** North American Industrial Classification System (NAICS) codes provide a 1 to 5 digit classification number to describe various types of economic activity. TBEC and TBEC+ are composites of the above 3 digit NAICS codes.

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Economic Sector Size by Jobs

KBB

4

Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Economic Sector Size by WagesKBB

5

Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Economic Sector Size by Wages vs. Jobs

KBB

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Average Wages by Sector

KBB

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Valdosta MSA, 2001-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Economic Change - short term

KBB

8

Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Average Wages by Sector

KBB

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Valdosta MSA, 1992-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Economic Change - long term

KB

B

10

Valdosta MSA, 1992-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Short vs. Long Term Economic Change

KBB

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Valdosta MSA, 1993-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Significant Job Trends - long term

KBB+

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Valdosta MSA, 2002-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Significant Job Trends - short term

KBB

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various MSA’s, 2001-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

KBB Sector Size and Growth Comparisons

KBB Sector % Share & Change in Jobs

KBB Sector Share of All Jobs (2009)KBB Change in Number of Jobs (2001-2009)

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Valdosta MSA, 1992-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

KBB Sector Trend Breakdown

KB

B+

Job Growth comparison between KBB Sectors.

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Valdosta MSA, 1992-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

KBB Growth Trend Comparisons - long term

Job Growth in KBB, KBB+ and All Industries.

KBB+

KKB

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Valdosta MSA, 2001-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

KKB Growth Trend Comparisons - short term

KKB

KBB+ Jobs (27.1%)

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various MSA’s, 1990-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Average Wage Comparison - long term US

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various MSA’s, 2001-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Average Wage Comparison - short term US

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various MSA’s, 1990-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Average Wage Comparison - long term GA

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various MSA’s, 2001-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Average Wage Comparison - short term GA

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various MSA’s, 2005-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Percent of Salary Spent on Housing US

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various MSA’s, 2005-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Percent of Salary Spent on Housing GA

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various MSA’s, 2006-2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

3 Year Employment Trends

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Economic Impact Ranked by Total Wages

KBB +

KBB

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Economic Impact Ranked by Average Wage

KBB

KBB

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

KBB Job Loss / Gain Comparisons

KBB

KBB

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

KBB Job Growth Comparisons

% KBB above/below overall growth

KBB

KBB

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

KBB Job Growth Comparisons

KBB

KBB

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Valdosta Average Wage Growth

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Valdosta MSA, 2009

SOURCE: Bureau of Labor Statistics - Quarterly Census of Employment and Wages - www.bls.gov/data

Valdosta Average Wage Growth

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About the Data In This Analysis

Illuminomics used data for its analysis from the most authoritative sources: The Georgia Department of Labor, U.S. Bureau of Labor Statistics, the U.S. Department of Labor and the U.S. Census Bureau. To obtain private disaggregate wage and employment data, Illuminomics and the Valdosta-Lowndes Chamber signed a confidentiality agreement with the Georgia Department of Labor to protect individual company data concerning employment and wages, especially in circumstances when only a few companies reside in a specific sector. Therefore, there are times when the public data and the privately aggregated data differ. In those circumstances, the privately aggregated data contained in this report is the more accurate.

Moreover, the Georgia Department of Labor constantly revises its historical data sets. Those revisions are not always released to the public. Illuminomics, however, has access to those revisions and has incorporated them into this analysis. In some cases that may cause public and privately aggregated data to differ ever so slightly, with this analysis often more accurate than what would be available to the general public.

Finally, care should be taken when comparing two data sets representing the same information. Those data sets may differ in locality (MSA vs. County), time period (month vs. quarter); interval time-length and industry control (private vs. public sector).

Chris Millercmiller@illuminomics.com

A Final Word

Illuminomics | PO Box 10754, Savannah, GA 31412 | 912-484-7192 | www.illuminomics.com