Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Virginia’s dependence on defense contracts puts it in both an enviable and awkward position. It’s enviable because firms in the state received more revenue from defense contracts performed than any other state, except California, in the federal fiscal year that ended Sept. 30, 2017. It’s awkward because with 4.4 percent of Virginia’s gross domestic product dependent on defense contracts, the...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • RICHMOND —Governor Ralph Northam today announced the release of the latest update of the Virginia Department of Defense (DoD) Contract Spending Impact Tool , featuring supply-chain mapping of DoD contract awards. The website is designed to provide clear and meaningful state, county, and metropolitan statistical area details about the current and projected economic impacts of DoD contract spending...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Jobs in the fields of science, technology, engineering, and math (STEM [1] ) are expected to grow faster than the average occupation over the next 10 years, but what does demand for STEM vs. non-STEM look like today?  Real-time intelligence from online job ads can help compare these occupation groups. In 2017, STEM ads closed at about the same rate as non-STEM ads but took a slightly longer tim...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Happy National Bike Month, [1] everyone! May is the month set aside to celebrate the joys of cycling!  Consequently, it is a good time to explore the relationships between the nation’s most bicycle-friendly regions and their economic and demographic characteristics. The League of American Bicyclists [2] publishes an annual ranking of states based on the following criteria: Number of bicycle...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • For workforce developers, knowing which occupations are most in demand is essential for developing programs that meet the needs of their local labor markets. Notably, a particular occupation growing nationally doesn’t necessarily mean it is growing in all geographical markets. In this article, we consider the projected occupational growth demand [1] in Pennsylvania compared with growth demand in ...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • The U.S. economy has expanded for 107 months as of this month, making it the second longest expansion on record. The big question is whether economic growth will last 15 more months to hit record territory in July 2019 when it would surpass the longest expansion on record at 121 months. The pessimists point out that interest rates are rising, the yield curve is flattening, consumer debt is i...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • A lot has already been said regarding Amazon and its search for a second headquarters (HQ2). Some argue HQ2 will bring a great benefit to the selected region, with Amazon saying they will invest over $5 billion and hire up to 50,000 employees for HQ2. Others have been more critical , arguing that the cost in the form of tax subsidies may not be worth the benefit gained. Additionally, there has bee...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • April 17, 2018 is the deadline for Americans to file their individual tax returns for 2017. With the passage of the Tax Cut and Jobs Act of 2017, there are significant changes in the federal individual income tax rates and deductions allowed. While those changes will mostly impact American taxpayers when they file tax returns in 2019, it is never too early to start understanding and planning for c...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • A lot has already been said regarding Amazon and its search for a second headquarters (HQ2). Some argue HQ2 will bring a great benefit to the selected region, with Amazon saying they will invest over $5 billion and hire up to 50,000 employees for HQ2. Others have been more critical , arguing that the cost in the form of tax subsidies may not be worth the benefit gained. Additionally, there has bee...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Colleges and universities offering programs that lead to careers in occupations that are relatively high-paying and have low unemployment tend to have lower student loan default rates. Some of the top “low-default occupations” for jobs that typically require an associate’s degree theoretically would be dental hygienists and respiratory therapists. For jobs needing a bachelor’s degree, some c...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Student loan defaults in the United States have been a growing problem. After reaching a historic low of 4.5% in 2003, student loan default rates have been trending upward, rising to 10.0% for the 2011 cohort.   Total student debt has also been increasing in the nation, rising above $1 trillion in 2010 and approaching $1.5 trillion in Fall 2017. As student loan debt increases for an individual s...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Recently, we wrote about employment growth in manufacturing . Here, we look at manufacturing growth [1] in terms of workers per establishment. [2] --> Highcharts.chart('container2', { chart: { type: 'column' }, title: { text: 'Workers Per Establishment in Manufacturing and Select Sub-Sectors, 2006 - 2016' }, xAxis: { categories: [ 'Manufacturing', 'Bev...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • For jobs that typically don’t need a college degree, which are the most secure? Here we take a look at five popular ones (see chart below). Each of these are “secure” in the sense that they are jobs with very low unemployment rates. In addition, each of these jobs typically do not require a college award, plus they usually don’t require extensive training. [1] --> Highcharts.chart('cont...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Performing gigs at different nightclubs and to various audiences is common for musicians. The proliferation of smartphones and online platforms have lowered the barrier for suppliers to provide on-demand services, making it easier for more individuals to complete some small jobs and participate in the new gig economy. It is also called the sharing economy because it has its origin as individ...

Chmura Economics & Analytics
Chmura Economics & Analytics
YouTube Video
  • Interest Profiles help people explore new career options by finding matches with their interests, skill set, and aptitude, and getting recommendations for how to boost their employability. Regional occupational information is presented in an easy-to-use online tool that includes links to real-world job openings and can be used directly by students and other job seekers or as an aid to job counselo...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Last year, we posted a blog examining the effects of Hurricane Harvey on job postings and, by extension, employment. Below, we take the same approach to look at the impacts of a different natural disaster prevalent in late 2017 and early this year: the wildfires in California. Specifically, we are focusing on the Tubbs Fire , which affected parts of Napa, Sonoma, and Lake counties in Northern Cali...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • For many years, the Bureau of Labor Statistics (BLS) used replacement rates to measure occupational demand due to individuals leaving their occupation. When the BLS switched from replacement rates to separation rates , it was quite a shock for many of us. On average, these rates measuring this type of labor demand more than quadrupled! For workforce planning professionals who have used replacemen...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • At first glance, Hendry County’s statistics show an area with significant challenges. Every mention of the County in the news is immediately followed with the unemployment rate – 6.5% in December 2017, the highest in the state of Florida by a full percentage point. The population is just above 38,000, with 26.3% below the poverty level and 37.5% without a high school diploma. [1] Although the loc...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Caralyn Baxter [1] grew up filled with dreams of someday competing in the Winter Olympics. As a competitive figure skater, she was heartbroken when her teenage years brought about an unexpected series of injuries—but she didn’t let that deter her… This week, Caralyn is finally realizing her dream as a participant in the 2018 Pyeongchang Winter Olympic Games. But she won’t be participating as she...

Chmura Economics & Analytics
Chmura Economics & Analytics
Blog Post
  • Businesses and nations that spend more on research and development grow at a faster pace, according to many studies. More than half of all R&D expenses on average are attributable to labor, according to an analysis of countries that belong to the Organization for Economic Co-operation and Development. Do occupations and industries performing R&D grow faster and continue growing faster than n...

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...

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