Indicators Report: Economic Recovery In Scranton/Wilkes-Barre Region Isn’t Stable

PLAINS TOWNSHIP, PA — Wages remain relatively low in Luzerne and Lackawanna counties and both need to work on more consistent long-term job creation and growth, said Teri Ooms, executive director of the Institute for Public Policy and Economic Development at Wilkes University.

Economic recovery in the two counties has been uneven since the recession hit in late 2007 and lasted until 2009. While the unemployment rate in the area has been dropping over the last few years, that was because those participating in the labor force decreased, Ooms said.

“The good news is labor force participation has finally begun to increase, more so within the past couple months,” Ooms said. “It is now at pre-recession levels, but the challenge we’ve had is post-recession. There have been too many peaks and valleys. We’re not stable.”

The region’s unemployment rate was among many issues Ooms and Andrew Chew, research analyst, discussed as they presented the institute’s 90-page Indicators Report for Luzerne and Lackawanna counties Thursday at Mohegan Sun Pocono’s convention center.

Read more:

http://citizensvoice.com/news/indicators-report-economic-recovery-in-region-isn-t-stable-1.1886047

More People Moving Into Scranton/Wilkes-Barre Region Than Out

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

PLAINS TOWNSHIP, PA — More people are moving into the region than leaving.

Migration into Luzerne and Lackawanna counties is on the rise and much of the immigration is coming from New York, New Jersey and elsewhere in Pennsylvania, according to the 2014 Indicators Report from the Institute for Public Policy and Economic Development at Wilkes University.

The report, unveiled Thursday morning to business and civic leaders who filled the convention center at Mohegan Sun at Pocono Downs, analyzed 120 indicators in areas such as demographics, population and migration, jobs and the economy. It was the ninth year for the event, said Teri Ooms, executive director of the institute.

Ooms highlighted the 2010 Census, which shows a growing population for the first time since the 1950s. Some are from the low- to moderate-income demographic and some earn a middle- to upper-middle income, the report showed.

Read more: http://citizensvoice.com/news/more-people-moving-into-region-than-out-1.1690955

US Gains 288k Jobs, Most In 2 Years; Rate 6.3 Percent

WASHINGTON (AP) – U.S. employers added a robust 288,000 jobs in April, the most in two years, the strongest evidence to date that the economy is picking up after a brutal winter slowed growth.

The Labor Department also said Friday that the unemployment rate sank to 6.3 percent, its lowest level since September 2008, from 6.7 percent in March. But the drop occurred because the number of people working or seeking work fell sharply. People aren’t counted as unemployed if they’re not looking for a job.

In addition to the burst of hiring in April, employers added more jobs in February and March than previously estimated. The job totals for those two months were revised up by a combined 36,000.

Employers have now added an average of 238,000 jobs the past three months, up from 167,000 in the previous three.

Read more at http://www.philly.com/philly/business/20140502_ap_8f84a138e20f4ac28ac7183f68972fba.html#8ZcZ0H6uK0amdHP5.99

Study Showing Area’s Shaky Economy No Surprise

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

Frank Nemeth, of Wilkes-Barre, doesn’t need a study to tell him the region is in rough shape.

Nemeth works at the Main Street Trading Post, a pawn shop south of Public Square, and he said his job has exposed him to the harsh realities of the city’s economy.

“I don’t see any recovery happening,” he said.

Instead, Nemeth said he sees some of the same people everyday — sometimes two or three times — trying to sell their belongings to afford necessities like food and gas.

Read more: http://timesleader.com/news/news/1334175/Study-showing-areas-shaky-economy-no-surprise

U.S. Added Surprisingly Strong 204,000 Jobs In October

The U.S. added a surprising 204,000 jobs in October, meaning private-employer hiring much more than offset the effect on jobs from the 16-day government shutdown.

“Maybe the government should be shut down more often,” said Kenneth Mayland, economist at Clearview Economics, Pepper Pike, Ohio.

The Labor Department on Friday also revised September and August job gains by a combined 60,000.

The unemployment rate rose to 7.3 percent last month from 7.2 percent in September, said the agency.

Read more: http://triblive.com/news/adminpage/5031098-74/jobs-added-government#ixzz2k4vUYkAe 
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