Upcoming Events: June 4 - Strategic Diversification in the Wake of Defense Cuts

From this session you will learn how to use data about your labor market for workforce and economic development planning. The panel will discuss the types of defense impacts occurring in the Oshkosh region and how the local communities are organizing, responding, and positioning for strategic transformation by leverage their assets. From the education pipeline to the dynamic labor shed, learn how to think about, act upon, and plan effectively in the intersection of labor and industry diversification.

The Reliance of the California Economy on Federal Contract Spending

California, the largest state economy in the nation, benefits from billions of dollars of federal contract spending each year. Chmura Economics & Analytics estimates that 1.8% or 280,364 of California’s jobs were directly supported by federal contract spending in fiscal year (FY) 2013. Metropolitan areas such as San Diego and industries such as manufacturing and professional and business services have a higher level of dependency on federal contract spending. Leaders in those regions and industries need to be prepared for future reductions in the federal budget.

Virginia Employment Growth Stuck In Neutral

Employment in the nation is finally starting to pick up. Nonfarm payrolls rose by 192,000 in March, which is 1.7 percent higher than a year ago. The Richmond metropolitan area is seeing similar growth. Employment rose 1.5 percent over the year ending in February, which is the latest data available at the regional level.