Akron, OH

Akron Metro Area industry wages have increased by 16.3% percent since 2001

2007-03-19T00:23:00.000-07:00

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From 2001 to 2006, average industry wages increased in the Akron Metro Area by a total of 16.3%. This is greater than the growth in average industry wages for Ohio and greater than the growth in average industry wages for the United States.

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.

Akron Metro Area Industry Wages Lag Behind Ohio, and Wages Lag Behind the United States Industry Wages

2007-02-27T21:25:00.000-08:00

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The average total wages in all industries in Akron, OH when analyzed can be understood as being medium-high when analyzed with other Metro Areas in the United States. The overall wages are 0.9 percent lower than the state, which accounted an average of $36,666. The industry pay was less than the US average pay 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.

Akron Five-Year Industry Employment Change

2007-02-11T12:51:00.000-08:00

Total Five-Year Employment Decline in the Akron Metro Area

From of the area's 4-digit NAICS industries, the Rubber product manufacturing industry experienced most substantial job loss, losing 4,869 jobs during the time period. The jobs lost in the Rubber product manufacturing industry make up 24.3 percent of the employment lost during the period in Akron, OH.

Top 5 Industries
1. Rubber product manufacturing (4,869 jobs lost)
2. General freight trucking (2,080 jobs lost)
3. Health and personal care stores (1,894 jobs lost)
4. Other support services (1,463 jobs lost)
5. Department stores (986 jobs lost)

In the Akron, OH metro area, the total number of jobs throughout all industries has increased by 9,891 jobs between mid-2001 and mid-2006.

Total Five-Year Employment Growth in the Akron Metro Area

Out of the 4-digit NAICS industries, the Management of companies and enterprises industry has brought the most jobs with a total of 8,729 employees finding new jobs in the industry. The employment growth in the Management of companies and enterprises industry makes up 33.8 percent of the total number of new jobs in Akron.

Top 5 Industries
1. Management of companies and enterprises (8,729 new jobs)
2. Employment services (3,066 new jobs)
3. Limited-service eating places (1,963 new jobs)
4. Business support services (1,303 new jobs)
5. Grocery stores (883 new jobs)

Given the 112 4-digit NAICS industries, 55 accounted an for increase in employment during the period and 57 industries reported employment loss in the period.

Employment for all industries has increased by 3.6 percent from 2001 (2nd Quarter). These figures are less than percent in the State of Ohio, experiencing a loss of 2.8 percent since the 2nd Quarter of 2001. The gains the area experienced were greater than than the gain experienced overall in the US of 2.6 percent.

The Akron Metro Area: Five-Year Percentage Growth in Employment

The Scientific research and development services industry has seen the largest percentage job growth, expanding by 313.3 percent from 2001 (2nd quarter) to 2006 (2nd quarter). This industry sector in Akron has expanded faster than the industry job growth experienced in Ohio, where it saw a gain of 26.3 percent. The Scientific research and development services industry in Akron outpaced the nation in terms of industry employment growth . During this period, the nation gained 11.4 percent in this industry.

Top 5 Industries
1. Scientific research and development services (313.3 percent gain)
2. Nonscheduled air transportation (225.3 percent gain)
3. Management of companies and enterprises (171.9 percent gain)
4. Lessors of nonfinancial intangible assets (136.5 percent gain)
5. Jewelry, luggage, and leather goods stores (94.3 percent gain)

The Akron Metro Area: Five-Year Percentage Decline in Employment

The Other support services industry has lost the biggest percent of jobs, losing 67.5 percent from 2001 (2nd Quarter) to 2006 (2nd Quarter). These losses have declined faster than the industry has experienced in the State of Ohio, where the industry sector experienced a loss of 27.4 percent. The losses in the Other support services industry in Akron outpaced the US in terms of percent of decline of industry employment. The US gained 4.5 percent in terms of employees in the Other support services industry.

Top 5 Industries
1. Other support services (67.5 percent decline)
2. Rubber product manufacturing (63.8 percent decline)
3. Unclassified (45.8 percent decline)
4. Other personal services (43.8 percent decline)
5. Health and personal care stores (42.6 percent decline)

Akron One-Year Industry Employment Change

2007-01-23T23:49:00.000-08:00

The total number of jobs has increased by 0.7 percent from the reported values in 2005. These values are greater than percent in the State of Ohio, which experienced a gain of 0.4 percent since 2005 ( 2nd Quarter). The gains felt were less than than the gain reported at the US level of 2 percent.

The Akron Metro Area: One-Year Percentage Growth in Employment

The Scientific research and development services industry has gone through the largest job growth by percent, increasing by 125.3 percent from 2005 to 2006. This industry in Akron has increased employment faster than the growth seen in the industry for Ohio, where it saw a gain of 9.5 percent. The Scientific research and development services industry in Akron outpaced the national average, which felt a gained 3.7 percent of the industry employment.

Top 5 Industries
1. Scientific research and development services (125.3 percent gain)
2. Software publishers (46.1 percent gain)
3. Other specialty trade contractors (45.6 percent gain)
4. Investigation and security services (34.5 percent gain)
5. Business support services (30.3 percent gain)

The Akron Metro Area: One-Year Percentage Decline in Employment

The Office administrative services industry has lost the biggest percent of jobs, losing 21.5 percent of the jobs from the 2nd quarter of 2005 to 2nd quarter of 2006. The losses of the area have declined faster than the industry sector has gone through in the Ohio, where the industry sector experienced a loss of 0.3 percent. The losses in the Office administrative services industry in Akron outpaced the United States in terms of percentage decline of industry employment. In this period, the United States gained 5.7 percent in terms of employees in the Office administrative services industry.

Top 5 Industries
1. Office administrative services (21.5 percent decline)
2. Activities related to credit intermediation (19.7 percent decline)
3. Individual and family services (16.5 percent decline)
4. Rubber product manufacturing (15.9 percent decline)
5. Other personal services (15.1 percent decline)

Total One-Year Employment Decline in the Akron Metro Area

From of the area's 4-digit NAICS industries, the Full-service restaurants industry witnessed the largest drop in employment, losing a total of 594 jobs during the period. The employment lost in the Full-service restaurants industry make up 10.1 percent of the employment lost during the period in Akron, OH.

Top 5 Industries
1. Full-service restaurants (594 jobs lost)
2. Grocery stores (552 jobs lost)
3. Rubber product manufacturing (523 jobs lost)
4. Individual and family services (370 jobs lost)
5. Building material and supplies dealers (360 jobs lost)

From the 126 industry sectors (4-digit NAICS) with employment figures reported by the BLS in each quarter, 61 reported job growth in the duration of the year and 65 industries reported employment loss in the period.

Total One-Year Employment Growth in the Akron Metro Area

The Business support services industry has added the most employment with 754 jobs added during the time period. These new jobs in the Business support services industry makes up 10.1 percent of the total growth in Akron.

Top 5 Industries
1. Business support services (754 new jobs)
2. Other specialty trade contractors (740 new jobs)
3. Scientific research and development services (631 new jobs)
4. Commercial equip. merchant wholesalers (399 new jobs)
5. Building equipment contractors (392 new jobs)

In the Akron, OH metro area, the total number of jobs throughout all industries has increased by 1,990 jobs from mid-2005 to mid-2006.

About: This report is part 1 of 6 in 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.

Income and Poverty in Akron, OH

2007-01-11T13:35:00.000-08:00

In Akron, OH White householders had a median income (2005 Dollars) of $41,696 according to the Decennial Census of 2000, which was 4.7 percent greater than the median household income in 2000. Black or African American householders reported a median household income that was 23.5 percent less than the overall reported level in 2000, with a reported median of $30,457. Hispanic in Akron, OH reported a median household income of $31,340, this median household income is 21.3 percent less than the areas median income level for all households. According to the 2000 Census, the Asian headed households in the area have median household incomes of $33,516. This income level is 15.8 percent less than the reported median household income, in the area, for all households. The American Indian and Alaska Native headed households in Akron had a median income of $39,697, this median was 0.3 percent less than the median income level in this area.

The median household income in the area has increased from the values (adjusted for inflation) in 2000. The median has increased to $44,719, which amounts to a 12.3 percent growth. The Akron, OH MSA, when comparing total percent of growth, ranks 10 of 22 metro area in percent of growth for median household income in the State of Ohio. Akron ranks 71 of 233 metro area when analyzing the growth in household income across the nation.

The poverty rate in the Akron, OH Metro has declined by 3.2 percent from the rates reported in the Decennial Census, moving from 14.5 percent to 11.3 percent.

Contrasted against to other Metropolitan Areas throughout the US, the Akron metro area can be understood to have a medium-high poverty rate amongst the population, with a poverty rate of 14.5 percent with a family income under the 1999 poverty level. The Black or African American race/ethnicity population cohort, has the uppermost poverty rate with 26.1 percent of the people in 2000 living in poverty. The population that is aged Under 5 years are witness to the most percent living in poverty in Akron, reporting 24.5 percent of this age cohort living in poverty.

Compared to other MSAs throughout the nation, the Akron metro area reported a relatively low median income for all households of $39,821 (Adjusted to 2005 Dollars). This figure is 20.3 percent lower than the household income median in State of Ohio of $47,919 and this is 23.4 percent lower than the median household income level in the US of $49,133.

While household income level experienced a growth in the last five year in the Akron, OH metro area, the Race/Ethnicity category that saw the sharpest growth in household income was the Race/Ethnicity category. This category went through an of . percent in the last five years. The population group was least impacted by the household income growth in Akron, seeing a . percent in median income, since the values reporting the 2000 Decennial Census.

Datasource: U.S. Bureau of the Census. 2000 Decennial Census. 2005 American Community Survey.

Higher Education in the Akron, OH Metro Area

2006-12-19T13:22:00.000-08:00

In 2005, the American Community Survey reported that in the Akron, OH Metro Area, the most common level of education achieved in the area for the male population is the High School Diploma category, with 34.2 percent reaching this education level. The female population in the Akron metro area have on average achieved a lower level of higher education (Bachelors Degree or Higher) than the male population-- 28.8 percent (Men) versus 27.6 percent (Women). A high proportion of the female population in the area has reached the High School Diploma category, with 34.4 percent of women in the area reaching this education level.

Akron, OH Metro Area may to understood as having a highly-educated population, with 28.2 percent of the over 25 years old population having a Bachelors Degree or Higher, according to the 2005 American Community Survey. The Akron MSA has a higher percent of population with high education level than the State of Ohio's proportion of 23.4 percent and a higher percent than the average across the nation of 27.2 percent.

Since the year 2000, the Akron metro area has increased in the total percent of the over 25 population having a Bachelors Degree or Higher. This population group has grown by 5.8 percent to a total of 28.2 percent in 2005. The American Community Survey reports that the proportion of the 2005 population that is highly educated is greater than the 2005 State of Ohio percent of 23.4 and greater than the national percent of 27.2.

In the Akron, OH Metro Area according the 2005 American Community Survey, 28.8 percent of the White Alone, 17.6 percent of Black or African American, 56.8 percent of the Asian alone and . percent of the Hispanic or Latino population, over the age 25, has achieved a Bachelors Degree or Higher.

From 2000 to 2005, the percent of male population that is highly educated has increased by 4.8 percent. In the year 2005, 28.8 percent of area's male population, over the age 25, achieved a Bachelors Degree or Higher. At the same time, the percent of women, over the age 25, holding at least a Bachelors Degree has increased by a total of 6.8 percent. By 2005, a total of 27.6 percent of the female population having received at least a Bachelors Degree.

Datasource: U.S. Bureau of the Census. 2005 American Community Survey.

Demographic Profile for Akron, OH

2006-12-02T20:23:00.000-08:00

Since the year 2000, a medium-high amount of people have migrated into the Akron metro area, with 3,808 people migrating in from another country. The international migration into Akron makes up 5.1 percent of immigration into the State of Ohio. This percent of immigration can be considered medium-high when compared to international migration per 2005 population.

The Akron metro area had an estimated population of 702,235 for the year 2005. The total population has increased, since the 2000 total population of 695,946. This growth denotes an increase of 0.9 percent. Akron ranks 3 of 12 MSAs when calculating total change in population for Ohio and the metro area ranks 219 of 361 metro areas by growth in MSA population in the United States.

By measuring total land area, the Akron metro area spans a total of 905 square miles. The land areas has a high average population density of 776 persons per square mile, in 2005. Similar metro areas, in terms of density, in the US include: -- more densely populated -- Hartford-West Hartford-East Hartford (784 per sq. mile ), Baltimore-Towson (799 per sq. mile ), Washington-Arlington-Alexandria (802 per sq. mile ), -- less densely populated -- Buffalo-Niagara Falls (732 per sq. mile ), El Paso (712 per sq. mile ), San Diego-Carlsbad-San Marcos (698 per sq. mile ).

The Akron metropolitan statistical area (MSA) has a population base that is comprised of 84.4 percent White, 11.5 percent African American, 1.6 percent Asian, and 1 percent Hispanic. The area population base can be described as having a modest level of diversity, with 14.1 percent of the population made up of minorities. This is less than the State of Ohio percent of 15.5. Since 2000, Akron has increased the level of diversity when 13.2 percent of the population were minorities.

Datasource: Population Estimates Program, U.S. Bureau of the Census.

Housing Report for Akron

2006-11-11T20:50:00.000-08:00

Akron had a median home value in the year 2005 of $141,100, according to the American Community Survey. This median is greater than the overall State of Ohio 2005 home median value of $129,600 and less than median home value of $167,500 across the United States during the same year.

In the State of Ohio, Akron stands 3 of the 12 metro areas in terms of percentage growth in new housing structures. The metropolitan statistical area (msa) ranks 263 of 361, compared to percent change of residential structures in other metropolitan areas throughout the United States.

There seems to be a fair amount of housing that is affordable in Akron, Ohio. In 2005, 41 percent of residential real estate was valued under $125,000.

In Akron, the real estate market was made up of 304,460 homes in 2005. The metro area has experienced a medium level of growth in the number housing units, adding a total of 9,822 housing units since the year 2001, or 3.3 percent.

Akron has a medium percentage of homes that are high in price. For 2005, the American Community Survey accounted that 2.3 percent of the homes were valued over $500,000.

Data Source: U.S. Census Bureau

Employment Report for Akron, Ohio -- Annual 2005 Industry Summary

2006-11-04T21:22:00.000-08:00

Manufacturing since the year 2001 was faced with the largest loss in employment in the Akron Metropolitan Area. The industry was hit with a loss of 7,599 jobs during the period, or 13.4 percent of jobs in the industry. The losses in this industry made up 81.2 percent of all employment losses in the Metro Area.

An industry with high wages in Akron is the management of companies and enterprises industry with an average annual wage of $72,462. In the Metropolitan Area since the year 2001, the annual average wages in the industry have grown by 43.4 percent or $21,914. The State of Ohio shows the same employment climate in the management of companies and enterprises industry, falling at the top of industries in term of the average annual pay of 2004.

In Akron, Management of companies and enterprises, Utilities and Manufacturing are the three industries with the highest location quotients. The Management of companies and enterprises sector has a United State LQ of 3.11. The level of employment in the Management of companies and enterprises sector is 3.11 times the percent of the national average, This signifies that Akron may specialize, or be an exporter of Management of companies and enterprises.

Management of companies and enterprises has seen the highest growth in employment from the years 2001-2005 in Akron, moving a total of 170.4 percent. This is greater than the rate of employment change across the nation of 1.6 percent. The State of Ohio went through a industry job change of 22.5 percent, in the recent period of 2001-2005.

Management of companies and enterprises is the industry with the largest establishments in Akron Metro Area. The industry averages 107 jobs per place of business. This is greater than the industry's average at the national level of 40 and greater than the Ohio average establishment size of 71 for the Management of companies and enterprises industry.

In Akron, Manufacturing, Health care and social assistance, and the Retail Trade industries have the largest percent of jobs of all industries. The Manufacturing produces the largest number of jobs in the area accounting for 17.5 percent of all the jobs in the Metropolitain Area. This makes up 49,261 individuals. The Health care and social assistance and Retail Trade sectors account for 14.3 and 13.8 percent of all employment.

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