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State of Regional Economy Benton-Franklin Region City of Prosser

State of Regional Economy Benton-Franklin Region City of Prosser. Prosser Economic Development Association Ajša Sulji ć - Regional Labor Economist Employment Security Department February 7 th , 2013. U.S. and state unemployment rates in downward trend, while local rate is trending up.

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State of Regional Economy Benton-Franklin Region City of Prosser

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  1. State of Regional EconomyBenton-Franklin RegionCity of Prosser Prosser Economic Development Association Ajša Suljić-Regional Labor Economist Employment Security Department February 7th , 2013

  2. U.S. and state unemployment rates in downward trend, while local rate is trending up Prosser City Avg Annual UI Rate ----------------------------7.2% ----------------------------8.0% ----------------------------8.5% Source: U.S. Census ACS estimates

  3. Local economic growth stalls in 2012, while U.S. and state are in slow recovery

  4. Declining employment

  5. Service based economy Average Annual Wage 2011 $ 41,733 OTY 1.8% 5YAAGrowth 2.3%

  6. Agriculture added the most jobs in the Region

  7. Decreasing number of workers with bachelor’s degree or higher

  8. Prosser worker demographics

  9. Growth similar to the Region

  10. One of the youngest cities in Benton County 2016-2021 6.6% 2011-2016 7.6% 2006-2011 13%

  11. Educational attainment below national, state and county level

  12. Lowest household income in the county

  13. How long will it take to recover that is the question?

  14. Outlook • Employment to stabilize in 2013 • Population growth will have an effect on local economic growth • Industries that will be leading growth • Healthcare • Educational services • Food manufacturing

  15. Thank You Ajša Suljić Regional Labor Economist ASuljic@esd.wa.gov 509-734-5928 esd.wa.gov/employmentdata

  16. Private and public sectors growth similar through Q3 ‘11, while 2012 is different

  17. Industries related to discretionary spending have stabilized

  18. Construction rebounding from 2011 decline, while manufacturing stable

  19. Education\healthcare stable and growing, while professional\business declining Beginning of Hanford Layoffs

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