Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Studies show a positive relationship between innovation and growth. Companies with a higher degree of R&D orientation [1] grow faster than other firms. Further, [2] also experience faster economic growth. On average, half of all R&D expenditures [3] are attributed to labor costs, underscoring the key role of a skilled workforce in driving innovation. Indeed, examining the employment in occ...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Sometimes it’s hard to believe that this expansion is already more than eight years long — only 18 months short of the record 120-month expansion that occurred from March 1991 to March 2001. Some analysts are concerned about a recession occurring over the next year or two. From our view, the tax cuts and reform just passed by Congress and signed into law by President Donald Trump increase the prob...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • This year on our blog we dug into applications of real-time intelligence data, explained changes to classification systems and forecasts, peeked behind how JobsEQ handles certain calculations and data, and a lot more. As we look forward to all the new content to come in 2018, here are our most popular blog posts from this year. In honor of counting down the new year, the top ten posts are sorted f...

Chmura Economics & Analytics
Chmura Economics & Analytics
YouTube Video
  • Santa HQ2 will be Santa’s second headquarters on planet Earth. We expect to invest over $100 billion in construction and grow this second headquarters to accommodate as many as 1,000,000 well-compensated elves – it will be a full equal to our current campus at the North Pole. In addition to Santa’s direct hiring and investment, construction and ongoing operations of Santa HQ2 is expected to create...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • The holiday selling season got off to a strong start on Black Friday, but the results were mixed when comparing online versus in-store sales. Online spending for Black Friday, the traditional start of the holiday selling season, was up 16.9 percent compared with the same day in 2016, according to Adobe Digital Insights, which tracks online spending in the nation’s 100 largest retail websites. ...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • The Bureau of Labor Statistics recently released its employment projections for 2016, [1] forecasting the change of employment by occupation ten years into the future. Included in this analysis is the attribution of each occupation to a specific category of “typical education for entry.” Grouping the employment numbers and estimates by these categories, we are able to see how employment is likely...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • The Bureau of Labor Statistics recently released its employment projections for 2016, [1] forecasting the change of employment by occupation ten years into the future. Included in this analysis is the attribution of each occupation to a specific category of “typical education for entry.” Grouping the employment numbers and estimates by these categories, we are able to see how employment is likely...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • The North American Industry Classification System ( NAICS ), used to classify businesses for statistical economic data, is typically updated every five years to reflect the changing economy. There were relatively few changes for the set of new codes just released for use with 2017 data.  However, there certainly were some interesting as well as notable changes. Highlights of the changes are detai...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • While consumers may look forward to lower prices on Thanksgiving turkeys this year, signs are also good for retailers more concerned with the day after Thanksgiving. One method for predicting the outlook for holiday spending is comparing the back-to-school spending during the same year. For instance, the back-to-school spending in August 2012 increased 2.9 percent, while early holiday spending—de...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Good news for Thanksgiving procrastinators—turkey prices peak in October before dropping in November, and prices are generally lower this year. The Consumer Price Index (CPI) measures the changing cost of goods and services over time. While the CPI for all goods is commonly known as a measure of inflation, we can use subsets of CPI data to track the price changes of specific goods, such as candy ...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Every once in a while, I hear someone say tens of thousands of jobs are open in the Richmond region and candidates can’t be found for those positions. There might be only some truth to that. From August through October, for instance, more than 65,000 jobs were posted online for positions in the Richmond region. But just because a job is posted on the internet does not mean that candidates...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Chmura ’s economic impact model is an integral component of its proprietary JobsEQ technology platform. It gives practitioners in economic development, workforce development, education, and other areas a tool to evaluate the economic impact of a potential project such as a business expansion or relocation. It allows for a seamless transition from JobsEQ’s industry and occupation data to economic i...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Industry mobility indicates the potential ease of switching industries based on an occupation’s employment share across industries. A mobile occupation is one in which workers can move from one industry to another with relative ease. This is important in designing training programs with skills needed across multiple industries as well as in the event of industry decline or a dislocation event. For...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Although cost-of-living is important in estimating expenses for potential new locations for a firm expansion, and though cost-of-living is generally correlated with payroll costs, it is not a safe substitute for a full payroll analysis.  A payroll analysis consists of defining staffing needs by occupation, capturing wage estimates specific to each occupation in the geographies under consideration...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • What can a jack-o’-lantern tell you about your state’s labor market? Chernoff faces are designed to display multiple variables as facial expressions, but in honor of Halloween we’ve created Chernoff jack-o’-lanterns. Each facial feature on the pumpkin displays data on employment or wages in the state. Eyes : the size of the eyes is mapped to the percent change in average annual wages per worker ...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • For programs less than two years in length, more students have been opting for awards that take less than a year to complete. The NCES tracks two levels of awards lower than an associate’s degree: (1) certificates less than one year and (2) certificates more than one year but less than two years. From 2012 to 2016, [1] completions [2] for certificates between one and two years in length declined...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • As Halloween approaches, U.S. consumers are seeing some savings as they purchase candy for October 31 st . The Consumer Price Index (CPI) measures the changing cost of goods and services over time. While the CPI for all goods is commonly known as a measure of inflation, we can use subsets of CPI data to track the price changes of specific goods, such as candy and chewing gum. The price of candy th...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • 2017 has been a very active hurricane season. Some analysts argue Hurricane Harvey will be one of the most costly natural disasters in history [1] .   As a region is preparing for a category 4  hurricane such as Harvey, businesses close down and most people evacuate. When some businesses are destroyed during the hurricane, a rise in unemployment follows.  One indicator of this effect is an incre...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • WASHINGTON, D.C. – October 12, 2017   – A joint research report released today by UPCEA and Chmura Economics & Analytics reveals a number of major occupational shifts in technology, healthcare, and other industries and their impact on higher education. The study,   Occupational Shifts and Higher Education Credentials   found a rise in alternative credentialing in the form of certificates, short-te...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • In honor of the National Association of State Workforce Agencies (NASWA) Workforce Summit/81 st Annual Meeting being held October 2017 in Coeur d’Alene, Idaho, we want to provide attendees and other potential visitors with some essential local knowledge and a few insights related to Coeur d’Alene’s economy.   The city is named for its region’s natives, the Coeur d’Alene Tribe , whom French trade...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • “High-skill job groups are projected to continue pacing occupational growth as groups requiring the most education and training are estimated to grow faster than average” The prediction above comes from a 1987 article in the Monthly Labor Review from the Bureau of Labor Statistics.   Many of the predicted trends in occupations of thirty years ago still ring true today. In the article, the...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Over the past five years, transportation equipment manufacturers have experienced some of the fastest employment growth within the manufacturing sector. Employment for these manufacturers in the United States grew an annual average 2.6% over the five years ending with the second quarter of 2017 compared with an annual average 1.7% for the total manufacturing sector. [1] Within transportation equi...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Most people probably wouldn’t be too surprised to learn that employment at online retailers or internet publishing and web search portal firms grew at a double-digit annual average pace over the past 10 years ending with 2016. On the other hand, manufacturing employment growing at such a fast pace might raise some eyebrows. The U.S. manufacturing sector employed about 1.8 million fewer worke...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Rhode Island may be nicknamed the “Ocean State,” but “Marine” appears more often in online job ads than “Ocean” does. Though there are a number of jobs available for someone who loves the ocean, many are not designated specifically in the standard occupation codes. For example, there is no Standard Occupational Classification (SOC) code specific to coastal engineers or oceanographers. A review of...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • In 2008, PEW Research published a study [1] investigating the reasons people either remain in or move away from their hometown. The study found that—among characteristics measured such as gender, age, race, and family income—the largest difference between those who moved and those who stayed centered around educational attainment. Among the people surveyed, 77% of the college graduates had moved ...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • With the JobsEQ RTI data set, [1] one can easily stay up-to-date with which certifications are being requested most by employers in their job ads. The below graphic shows the top four IT certifications for the thirty days ending September 15, 2017; the counts indicate how often these certifications were mentioned by U.S. employers in online ads for computer occupations. [2]   The top crede...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • While the U.S. manufacturing sector employed about 1.8 million fewer workers in 2016 compared to ten years prior, many industries within the sector have posted solid to robust job gains. At the six-digit NAICS [1] code levels, 18 manufacturing industries expanded by at least 8,000 jobs over the last ten years (2006 – 2016). While there is some diversity within these industries, there are severa...

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