2017 Spencer Comprehensive Land Use Plan

Spencer, Iowa  2017  Comprehensive Plan

C HAPTER D IVERSITY Employment and job growth or loss has become an integral part of economic development and community development in Iowa. Shifts in employment and diversification of the workforce is considered by many as one of the most important aspects of economic development. If a community is to flourish, it must serve as a center for the production and distribution of goods and services. Many other factors play a role in the future of a community, however employment vitality is necessary to insure continued economic and community growth. Included in this section, Spencer’s employment trends and occupational diversity is compared to that of Clay County and Iowa. Employment and occupational analysis provides vital statistics as to the relative health of the community and potential growth in each of the city’s respective land use categories. EMPLOYMENT Spencer's employment is analyzed in terms of factors including current unemployment rates, employment by industrial sector, major occupation trends and commuting patterns. Iowa Workforce Development generates employment and labor force data pertinent to determine the economic climate related to job creation or loss. Unfortunately, these numbers are only available at the county or metropolitan city level. Therefore, the following section will refer to Clay County data. However, the trends experienced countywide should be reflective of trends occurring in Spencer as well. As of 2016, the unemployment rate in Clay County is 3.9%. In comparison, the highest percentage of unemployment for a county in Iowa is 6.6% in December 2016 in Dickinson County, Iowa. The statewide average unemployment for December 2016 is 3.7%. 9 . O CCUPATION & E MPLOYMENT

Figure 23 - Unemployment Rates for Clay County, Iowa, and U.S.

2005-2016 Unemployment Rates

2 3 4 5 6 7 8 9 10

9.3 9.6

8.9

8.1

7.4

6.8

6.2

5.9

5.8

5.4

5.3

5.1

5.1

4.9

4.6 4.6

4.5

4.1

4

3.7 3.9

3.5

3.3 3.1

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Iowa

4.3 3.7 3.7 4.2 6.4

6

5.5 5.1 4.7 5.2 3.7 3.7

Clay County 4 3.3 3.1 3.5 6.8 5.9 5.4 5.1 4.5 4.1 3.7 3.9 United States 5.1 4.6 4.6 5.8 9.3 9.6 8.9 8.1 7.4 6.2 5.3 4.9

Spencer’s employment is similar in many respects to other rural northwest Iowa communities in that the local economy relies, in part, on seasonal employment opportunities, especially within the agricultural and construction trades. Examining the monthly unemployment rates for Clay County during 2016 shows those fluctuations due to the seasonal operations.

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NW Iowa Planning & Development