Strengthen & Expand the Region's Economic Base

Annual Unemployment Rate

Description:

The annual unemployment rate is calculated as the percent of all people in the labor force who are not currently employed.  Between 2008 and 2009, the unemployment rate for the Pioneer Valley rose significantly, with an increase from 5.7% to 8.7 percent.  This trend remained consistent for each of the three counties of the Pioneer Valley.  Hampden County saw the largest increase in unemployment from 6.4% to 9.7% while Hampshire (4.3% to 6.6%) and Franklin (4.9% to 7.9%) counties experienced slightly smaller but still significant increases.

Data Source: Massachusetts Executive Office of Labor and Workforce Development’s Labor Force and Unemployment Data

Indicator Trend Percent Change Rating 3.0%

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Total Number of Jobs

Description:

The total number of jobs includes all types of company ownership and all industries, as derived from reports filed by all employers subject to unemployment compensation laws, both state and federal.  The number of jobs in the Pioneer Valley decreased from 2008 to 2009, from 284,466 to 275,502 (more than a 3.0% change).  This trend remained consistent for each of the three counties of the Pioneer Valley.  Franklin County experienced the largest decrease (a decrease of 4.4%), while Hampden County decreased by 3.2%, and Hampshire County had a decrease of 2.3 percent.

Data Source: Massachusetts Executive Office of Labor and Workforce Development’s Employment and Wage (ES-202) data

Indicator Trend Percent Change Rating -3.2%

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Average Weekly Wage Earned by Workers

Description:

The average wage earned by workers includes employees in all types of company ownership and all industries, as derived from reports filed by all employers subject to unemployment compensation laws, both state and federal. The average weekly wage earned by workers in the Pioneer Valley increased slightly by 0.6% from $788 in 2008 to $793 in 2009.  For each of the three counties, the average weekly wage also increased slightly.  Hampshire County had the highest percent increase of 1.6%, while Hampden County increased by 0.5% and Franklin County increased by 0.1 percent.

Data Source: Massachusetts Executive Office of Labor and Workforce Development’s Employment and Wage (ES-202) data

Indicator Trend Percent Change Rating 0.6%

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Growth of the Private Sector Payroll 

Description:

The private sector payroll includes the total of all wages paid from companies with private ownership for all industries, as derived from reports filed by all employers subject to unemployment compensation laws, both state and federal.  The private sector payroll for the Pioneer Valley fell from $9,220,469,502 in 2008 to $8,889,332,883 in 2009, a decrease of 3.6 percent.  Franklin, Hampshire, and Hampden counties also experienced negative trends. Franklin County had the largest decrease (5.3%) and Hampden and Hampshire counties saw decreases of 3.7 and 2.2%, respectively.

Data Source: Massachusetts Executive Office of Labor and Workforce Development’s Employment and Wage (ES-202) data

Indicator Trend Percent Change Rating -3.6%

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Total Number of Business Establishments

Description:

The total number of business establishments includes businesses with all types of company ownership and all industries, as derived from reports filed by all employers subject to unemployment compensation laws, both state and federal.  In the Pioneer Valley, the total number of business establishments increased 2.0% from 21,031 in 2008 to 21,443 in 2009.  This trend remained consistent for each of the three counties in the Pioneer Valley.  While the largest increase in the number of establishments was in Franklin County (by 3.1%), both Hampden and Hampshire counties saw an increase in their number of businesses as well (1.6% and 2.7% respectively).

Data Source: Massachusetts Executive Office of Labor and Workforce Development’s Employment and Wage (ES-202) data

Indicator Trend Percent Change Rating 2.0%

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Manufacturing as a Percent of All Employment by Number of Establishments

Description:

This measure was calculated by dividing the total number of establishments in the manufacturing sector by the total number of establishments. These numbers include companies with all types of ownership, as derived from reports filed by all employers subject to unemployment compensation laws, both state and federal.  Overall, manufacturing remained fairly stable as a percentage of all establishments in the Pioneer Valley, decreasing from 4.4% in 2008 to 4.2% in 2009.   

The trend varied some throughout the region, though manufacturing remained relatively stable throughout all three county areas.  While Hampden and Hampshire counties saw slight decreases (0.2 % for both), Franklin County saw the largest decrease (0.6 percent).

Data Source: Massachusetts Executive Office of Labor and Workforce Development’s Employment and Wage (ES-202) data

Indicator Trend Percent Change Rating -0.2%

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