Tuesday, February 27, 2007

Norwich-New London Metro Area Industry Wages Lag Behind Connecticut, but Wages Exceed the United States Industry Wages


(Click Image to Enlarge Graph)



Total wages in all industries in Norwich-New London, CT when analyzed can be understood as being relatively high when analyzed with other Metro Areas in the United States. The overall wages are 18.2 percent lower than the with an state average of $50,793. The average industry wage was greater than the overall average in the United States of $40,259.

About: These facts are part of the eCanned.com Industry Analysis Series.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW). Private Sector Employment Only.

Sunday, February 11, 2007

Norwich-New London Five-Year Industry Employment Change

Total Five-Year Employment Growth in the Norwich-New London Metro Area

Of the industries (4-digit NAICS) in the area, the Full-service restaurants industry has brought the most jobs with a total of 1,097 employees finding new jobs in the industry. The employment growth in the Full-service restaurants industry makes up 10.9 percent of the total growth in Norwich-New London.

Top 5 Industries
1. Full-service restaurants (1,097 new jobs)
2. Other general merchandise stores (1,037 new jobs)
3. Scientific research and development services (995 new jobs)
4. Limited-service eating places (694 new jobs)
5. Offices of physicians (362 new jobs)

Given the 138 industries with industry data reported by the BLS in each quarter, 59 accounted an for increase in employment during the period and 78 industry sectors accounting for employment declines during that time period.

Total Five-Year Employment Decline in the Norwich-New London Metro Area

Given the industries in the area, the Department stores industry experienced most substantial job loss, losing 698 jobs in that time period. The declines in the Department stores industry make up 12.3 percent of the employment lost during the period in Norwich-New London, CT.

Top 5 Industries
1. Department stores (698 jobs lost)
2. Traveler accommodation (583 jobs lost)
3. Employment services (467 jobs lost)
4. Nonresidential building construction (403 jobs lost)
5. Investigation and security services (366 jobs lost)

In the Norwich-New London, CT metro area, the aggregate employment for all industry sectors has increased by 3,587 jobs from mid-2001 to mid-2006.

The Norwich-New London Metro Area: Five-Year Percentage Decline in Employment

The Unclassified industry has lost the largest percent of jobs, losing 84.6 percent of the jobs from the 2nd quarter of 2001 to 2nd quarter of 2006. The losses of the area have declined faster than the industry sector has gone through in the Connecticut, where the industry reported a loss of 73 percent. The losses in the Unclassified industry in Norwich-New London outpaced the losses of nation as a whole in the industry. In this time period, the nation gained 1.7 percent in terms of employees in the Unclassified industry.

Top 5 Industries
1. Unclassified (84.6 percent decline)
2. Other heavy construction (80.8 percent decline)
3. Automotive equipment rental and leasing (65.3 percent decline)
4. Investigation and security services (55.8 percent decline)
5. Educational support services (54.4 percent decline)

The Norwich-New London Metro Area: Five-Year Percentage Growth in Employment

The Electronic equipment repair and maintenance industry has gone through the largest job growth by percent, increasing by 726.4 percent from the 2nd quarter of 2001 to the 2nd quarter of 2006. This industry sector in Norwich-New London has grow faster than the industry has grown in the State of Connecticut, where the industry took a gain of 20.4 percent. The Electronic equipment repair and maintenance industry in Norwich-New London outpaced the US in terms of percent growth of industry employment. During this period, the US lost 2.5 percent.

Top 5 Industries
1. Electronic equipment repair and maintenance (726.4 percent gain)
2. Other general merchandise stores (448.3 percent gain)
3. Scientific research and development services (349.4 percent gain)
4. Other residential care facilities (330.1 percent gain)
5. Wireless telecommunications carriers (321.4 percent gain)

The total number of jobs has increased by 4.1 percent from 2001 (2nd Quarter). These figures are less than growth in the State of Connecticut, which experienced a loss of 0.4 percent since 2001 ( 2nd Quarter). The gains the area experienced were greater than than the gain seen for the United States of 2.6 percent.

 

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