A Look at Jobs Growth

USA Today recently posted Moody’s Economy’s projections of job growth state by state. Indiana’s projection is at .4%, although you might be more interested to look at the sector breakdown, which accompanies the story.

Economic consulting firm Moody’s Economy.com has forecasted U.S. job growth by geographic region and by industry. This interactive was updated August 12, 2010. We will update it each month.
This graphic shows actual job growth through second-quarter 2010 and Moody’s Economy.com’s forecasted job growth for third-quarter 2010 through second-quarter 2014. It covers every state, the District of Columbia and 384 metro areas, broken down by fourteen industry sectors. The data are seasonally adjusted.

National, state and metro data through second-quarter 2010 are averages of monthly data from the Bureau of Labor Statistics’ Current Employment Statistics (CES) survey.

The CES survey tracks the number of people employed full and part time by industry. It excludes proprietors, self-employed people, unpaid family or volunteer workers, farmworkers and domestic workers. Government employment covers only civilian workers. Employees are counted where they work, not where they live.

The data for third-quarter 2010 through second-quarter 2014 are forecasted by Moody’s Economy.com. Demographic trends such as population growth, migration patterns, the age composition of populations, cost of living and business costs, and the global orientation of regional economies are key factors in its forecasts.

The forecasting model reflects the industry makeup of regions and the growth outlook for those industries. For example, the industrial Midwest takes into account the problems in the auto industry, and the relative success of the technology industry is reflected in forecasts for California’s Bay Area and Boston.

Moody’s Economy.com’s model also takes into account policy decisions made by the Federal Reserve and the specifics of government stimulus and assistance programs.