The link will take you to an article by G. Scott Thomas 2/2/10 of the Business First of Buffalo. He summarizes the yearend employment figures published by the US Bureau of Labor Statistics. He states that 99 of the top 100 job markets in the US lost jobs during 2009. For 2010, look at the specifics of your market and try not to focus on the national problems. Determine the stable or growing industries and focus on how your business can hang onto their coat tails!
http://bit.ly/bBexKJ
In his article, he included a link to a search box for finding the unemployment rates and information for over 400 specific cities and smaller markets. Remember to look for trends in your market. There are some interesting stats which should be repeated here:
The highest is Fresno, CA at 16.8% unemployment rate.
The lowest unemployment rate is in Omaha, NE at 5.0%
Refer to the housing chart for Las Vegas in my post this week and make your own conclusion:
Las Vegas unemployment
at the end of 2008 was 8.7%
at the end of 2009 was 13.1%
Charlotte at 12.1% and Raleigh at 8.7% - Is this banking versus government job markets?
Last statistic: There were five markets which lost over 100,000 jobs during 2009: Chicago, Los Angeles, New York, Detroit, and Atlanta.
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