126
THE COUNTY ECONOMY
PLANNING ISSUE
The unemployment rate for
the county—though greatly
improved since the Great
Recession—has been higher
than average since 2008.
Increasing job growth and
matching residents to
employers will be a continuing
concern for the county.
What’s New
•
The Great Recession followed by a slow recovery
has impacted the economy in Montgomery County as
it has in most places. Unemployment has been
uncharacteristically high in the county since 2008,
reaching over seven percent of the labor force at its
peak. By 2014, the unemployment rate was
dropping back closer to 5% .
•
The aging baby boomer population will be
approaching retirement in the coming years, but the
current economy may result in some continuing to
work beyond retirement. This could delay
opportunities for younger residents entering the
workforce who are already facing high
unemployment rates.
Jobs of County Residents
Jobs in the County
County Businesses
Downtown and Main Street Areas
Office, Industrial, and
Brownfield Areas
Retail Commercial Areas
Tourism
Agriculture and Farm
Preservation
Employment Forecasts and
Economic Trends
Jobs of County Residents
Resident Labor Force
Montgomery County’s economy begins with the strength of
its resident labor force. A well-educated population with
diverse skillsets combined with strong local schools and
colleges have given local businesses a qualified workforce.
In fact, the number of jobs located in the county exceeds the
number of residents here to fill them, resulting in the county
being a net importer of workers from other jurisdictions.
The employed labor force, which represents all county
residents with jobs regardless of the location of those jobs,
grew by seven percent over the last decade, keeping pace
with the overall population growth during the same time
period. County residents are fortunate to have access to a
surplus of jobs located within the county in addition to
regional opportunities.
0%
10%
20%
30%
40%
50%
1950-1960 1960-1970 1970-1980 1980-1990 1990-2000 2000-2010
Percent Change in Employed Resident Labor Force
Percent Change in Total Population
Source: U.S. Census Bureau, American Community Survey
FIGURE 93:
Growth in Employed Resident Labor Force
Compared to Total Population
supply of qualified workers to match the needs of local
businesses through a variety of programs and initiatives
including:
•
The
program pairs dislocated workers
with businesses seeking to hire. A prospective
employee can work for up to 8 weeks part time while
still receiving unemployment compensation and gaining
valuable job training. If the business ultimately hires
the worker, it can receive a financial incentive.
•
Short term pre-employment training for dislocated
workers is offered to provide skills targeted to a specific
industry as identified by actual employers.
•
A pilot program called Mobile Outreach Skills Training
(MOST) provided specific training for applicants with a
host manufacturing company. The program will be
continued with similar training programs for targeted
businesses in the county.
•
MCWIB staff works closely with technical schools and
employers in the county in order to develop,
communicate, and use flexible transitions from
educations to careers.
The
(MCWIB) oversees the county’s job training and placement
services and is staffed by the county’s Commerce
Department. The MCWIB is focused on improving the
