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Employment in the Greater Boston Labor Market: A Volatile Decade

Employment in the Greater Boston Labor Market: A Volatile Decade. Robert Clifford, Policy Analyst New England Public Policy Center Federal Reserve Bank of Boston. CONNECT Symposium: From Poverty to Economic Resilience January 19, 2012.

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Employment in the Greater Boston Labor Market: A Volatile Decade

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  1. Employment in the Greater Boston Labor Market: A Volatile Decade Robert Clifford, Policy Analyst New England Public Policy Center Federal Reserve Bank of Boston CONNECT Symposium: From Poverty to Economic Resilience January 19, 2012 *The views expressed in this presentation are mine and not necessarily those of the Federal Reserve Bank of Boston or Federal Reserve System

  2. Employment in Great Boston has declined over the past decade… State Economic Activity Indexes Sources: U.S. Bureau of Labor Statics

  3. Employment Growth by Supersector Percent Change, 2000–2010 Source: U.S. Bureau of Labor Statistics

  4. Educational Attainment of Employees by Super Sector in Greater Boston Source: U.S. Census Bureau 2008-2010 American Community Survey Note: Individuals classified with low skill are those who have not obtained any post-secondary education and have a high school degree or less. Middle-skill employees are those that have attended some college or received an associates degree. High-skill workers are those employees that have obtained a bachelor's degree or more.

  5. While employment has declined, educational attainment of workers has increased... Employment Changes by Educational Attainment Groups in Greater Boston Percent Change, 2000 to 2010 Source: U.S. Census Bureau 2000 Decennial Census and 2008-2010 American Community Survey Note: Individuals classified with low skill are those who have not obtained any post-secondary education and have a high school degree or less. High-skill workers are those employees that have obtained a bachelor's degree or more.

  6. Greater Boston Educational Attainment of Employees in Seven Largest Occupations, 2008-2010 Source: U.S. Census Bureau 2008-2010 American Community Survey Note: Individuals classified with low skill are those who have not obtained any post-secondary education and have a high school degree or less. Middle-skill employees are those that have attended some college or received an associates degree. High-skill workers are those employees that have obtained a bachelor's degree or more.

  7. Employment opportunities are more abundant for those with post-secondary education... Source: Educational Attainment data are for the pre-recession period are from 2005-2007 American Community Survey, with recovery period data from the 2008-2010 American Community Survey . Occupational vacancy rates are from the Massachusetts Job Vacancy Survey, with Q4 2007 representing Pre-recession vacancy rates and Q4 2010 representing recovery vacancy rates.

  8. Sources of Further Information Visit www.bos.frb.org for updates on the New England and U.S. economies – New England Economic Indicators (statistical information on the New England economy updated continually) – New England Economic Snapshot (brief analysis of recent economic indicators – Profile of New England (data and brief analysis on important long-term economic and demographic trends in the New England states) – Beige Book (anecdotal information updated every six weeks or so) – “News and Events” tab (speeches by Boston Fed president) – New England Public Policy Center “Assistance Provided” (economic updates by Boston Fed economists)

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