2017 Spencer Comprehensive Land Use Plan

Spencer, Iowa  2017  Comprehensive Plan

Table 9 - 2016 Clay County Unemployment Rates by Month

Jan

Feb

Mar

Apr May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2016 Clay Co. Unemployment

5.2

4.7

4.3

3.3

3.1

4.0

3.8

3.6

3.4

3.3

3.5

5.1

As shown in the chart above, the highest unemployment for 2016 was in January at 5.2%. This is more than likely due to the combination of winter or seasonal layoffs in the construction and agriculture industries. On the other end of the spectrum, the lowest unemployment rate for Clay County was 3.1% in May. This trend shows very low unemployment during times where seasonal positions have more work available for people. LABOR FORCE TRENDS Employment estimates for states and local areas are key indicators of economic conditions. The Bureau of Labor Statistics in the Department of Labor is responsible for the concepts, definitions, technical procedures, validation and publication of the estimates. According to the most recent labor force data available, there are 8,650 persons comprising the civilian labor force in Clay County as of December 2016. Of this total labor force, 8,210 were employed leaving the remaining 440 persons unemployed. The labor force in Clay County appears to be struggling over the past decade to maintain a consistent workforce of available persons to meet the employment needs of the county and Spencer. The reduction in labor force is not indicative of high unemployment since the county’s unemployment rate remains low. Therefore, the logical assumption can be made that the leading cause of the reduction in labor force before 2016 is tied to declining population trends in Clay County and Spencer. Since 2006, population in Spencer has decreased, along with the total labor force available. According to Iowa Workforce Development, Clay County’s labor force in 2016 is 8,750 persons as compared to a high of 9,700 workers in 2006, a decrease of 9.8% in the labor force over ten years. Although the long term trend shows a declining workforce, an encouraging trend is the increase of 370 persons in the county’s workforce between 2012 and 2014.

Figure 24 - Labor force trends in Clay County, 2006-2016

Clay County, Iowa Labor Force

9900

9700

9610

9700

9530

9470

9500

9310

9300

9050

9100

8940

8864

8900

8760

8750

Clay Co. Labor Force

8600

8700

8500

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

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NW Iowa Planning & Development