Change in Total Jobs
What does this measure?
The growth or decline in total jobs, shown as a percentage gain or loss from the previous year.
Why is this important?
Job growth is a key indicator of economic health and vitality and reveals whether and by how much an economy is expanding. In addition to the number of jobs, the quality of jobs should be considered. This is reflected in measures of average salary.
How is our county doing?
Essex County had job growth of 1.4% from 2013 to 2014, just below the state (1.8%) and nation (1.9%). This was the lowest increase in Essex County over the last four years, as the job growth rate had been over 2.0% since 2011. Since 2000, the county has gained 11% to 435,000 jobs, a similar growth rate to the nation (12%) and slightly higher than the state (9%).
How do we compare to similar counties?
Essex County's latest annual rate of growth was similar to Middlesex, MA (1.9%), Lake County, IL (0.8%) and Westchester, NY (1.5%). Since 2000, Essex County's growth was higher than Middlesex (7%) and Lake (8%), and below Westchester (14%).
Notes about the data
Data is from the Bureau of Economic Analysis. County employment is reported by place of work, not place of residence. 2015 data for this indicator are expected to be released in the fourth quarter of 2016.