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 2004 and 2006, the unemployment rate for the Pioneer Valley remained relatively stable, with a slight decrease from 5.5% to 5.4%. This consistency was true for each of the three counties of the Pioneer Valley, though, while the unemployment rate for Hampden County decreased slightly from 6.2% to 6.1%, the rate increased slightly for both Hampshire (4.1% to 4.2%) and Franklin (4.3% to 4.4%) counties.
 |
Indicator Trend
|
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 stayed very consistent from 2004 to 2006, increasing very slightly from 283,125 to 284,093, a change of 0.3 percent.
D
 |
Indicator Trend
|
Average 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 wage earned by workers in the Pioneer Valley increased from $683 in 2004 to $725 in 2006. For each of the three counties, the average wage increased. Hampden County had the highest percent increase of 6.4 percent.
 |
Indicator Trend
|
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 grew from $2,681,564,880 in 2004 to $2,852684,697 in 2006, a change of 6.4 percent. Each of the three counties also had an increase in private sector payroll with Franklin County increasing by 4.8%, Hampshire County increasing by 6.4%, and Hampden County increasing by 6.6 percent.
 |
Indicator Trend
|
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 decreased from 20,594 in 2004 to 20,321 in 2006. While Franklin County had an increase in the number of establishments of 1.7%, both Hampden and Hampshire counties had a decrease (-1.9% and 0.9% respectively).
 |
Indicator Trend
|
Manufacturing as a Percent of All Employment
Description:
This percentage was calculated by dividing the total number of people employed in the manufacturing center by the number of people employed in all industries. These numbers include employment in 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 employment in the Pioneer Valley, decreasing from 4.9% in 2004 to 4.6% in 2006. The trend was consistent throughout the region, as all three counties saw a decrease in manufacturing as a percent of all employment, but these decreases were less than 0.5 percent.
 |
Indicator Trend
|
Pioneer Valley Planning Commission (PVPC)
26 Central Street, Suite 34 • West Springfield, MA 01089-2753 www.pvpc.org
For more information on the State of the Region and Plan for Progress Performance Indicators,
contact the PVPC's
Regional Information & Policy Center at (413) 781-6045