This week’s announcement that Teradata is leaving the Dayton region is bad news for the local economy.
Since 2016, the Dayton metro area has not had a streak of job gains longer than three consecutive months. The loss of the 267 jobs Teradata plans to relocate from its Miami Twp. headquarters to San Diego won’t help.
But the region has had one notably positive trend that local officials hope will continue.
The Dayton metro area has added jobs for about 56 consecutive months, compared to year-over-year, according to not seasonally adjusted data from the U.S. Bureau of Labor Statistics. The metro area includes Montgomery, Miami and Greene counties.
That growth helps explain why the region has added back more than 50 percent of the 68,500 jobs lost over the period 2000 to 2009, said Diane Shannon, Dayton’s director of procurement, management and budget.
“In recent years, job creation for the 3-county (metropolitan statistical area) has been impressive,” said Shannon.
And though losing Teradata, a major employer, is a big loss, the region has some hot and fast-growing sectors. Here’s what you need to know about Dayton’s economy and job market.
The current situation
Employment in the Dayton metro area stood at 395,100 workers in April. That’s 7,200 jobs higher than in April 2017, and 36,500 jobs more than the nadir in December 2009, Shannon said.
There’s been strong growth in a various sectors, but standouts include retail trade and education and health services.
Retail employment increased by 900 employees (or 4.9 percent) to 41,000 workers between April 2017 and April 2018, according to not seasonally adjusted data.
Meanwhile, education and health services added a whopping 3,000 workers since last April, increasing payrolls to 76,700 workers.
Some of that growth has been fueled by CareSource, which has been a monster job-creator in Dayton. The nonprofit Medicaid plan manager held a hiring event last month for 100 positions. The group, which employs about 2,800 people in Dayton, is building a new office tower in downtown to expand its footprint and presence.
Teradata is likely classified as a service-providing business, under the federal labor department’s definition. Employment in that sector locally has increased by about 6,700 jobs in April, compared to a year earlier.
Other sectors have also seen decent payroll growth.
Between April 2017 and April 2018, local employment increased by 3.1 percent in manufacturing; 3.7 percent in trade transportation and utilities; 3.2 percent in goods producing; and 2.3 percent in wholesale trade.
Sectors that saw losses included government (employment declined by 0.8 percent) and information (jobs fell by 2.4 percent).
Jobs take off at Dayton airport
One of the biggest recent economic success stories of the region has been the Dayton International Airport. The facility and the land surrounding it have welcomed hundreds of new jobs, with more on the way.
There’s two new industrial and warehouse facilities under construction, which will join the 570,000 square foot facility used by Spectrum Brands.
The buildings will employ hundreds of people, which will help the airport meet its goal of adding 1,000 new workers this year.
There’s new aviation jobs coming as well.
Air Wisconsin Airlines recently announced it is relocating some maintenance operations to Dayton. The company is expected to employ about 70 people when fully staffed.
Wages are rising in Dayton
The average hourly earnings of all private employees in the Dayton area was $23.12 in April, according to preliminary data. Since 2007, local hourly earnings exceeded $23 in just two other months.
Private wages dipped in the last two months of 2017, and they dropped again in February and once more in March. Still, hourly earnings have risen, year-over-year, for four straight months.
Local workers’ paychecks, however, have not been as hefty because they are working fewer hours. On average, private workers clocked 33.4 hours in April, down from 33.7 the previous month.
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