10 months ago

Clarksville- Main File


LABOR FORCE Measuring labor utilization is important in that labor is a productive input to vibrant economies which cannot be stored. As well, productive labor determines income and for many people, labor is the only income source. In this section, the region’s workforce will be explored for its composition and performance using both well known metrics such as participation rates as well as a newer measure of underemployment. KEY HIGHLIGHTS • Labor force participation rates are higher than the national average. • High levels of underemployment. • About half of Montgomery County residents leave the county for work—a large untapped segment of Montgomery County’s workforce include transportation and material moving jobs along with those working in manufacturing elsewhere. • Montgomery County is a great location for teachers, while healthcare and business professionals seek work elsewhere. The labor force is composed of those people age 16 and over in the civilian non-institutionalized population, including those classified as unemployed. Understanding labor force composition, particularly in terms of skills availability, provides some indications of an economy’s dynamism. For example, some economists project lower rates of economic growth in the coming years driven largely by the slowing growth of the labor force. Nationwide, slowing labor force growth may be due to several factors, including but not limited to the following: • Demographic shifts—increases or decreases in retirees or youth • Discouraged workers who have dropped out due to a lack of job prospects • People who stay in school longer or return to school • Disengaged young adults 18 COMPREHENSIVE LABOR ANALYSIS: CLARKSVILLE-MONTGOMERY COUNTY

Below are the labor force figures pertaining to Montgomery County. 39+2+K 41+36+K 77+23+H FIGURE 10: 2016 Labor Force Breakdown: Montgomery County 197,290 Population POPULATION Total Working Age Population 151,720 Labor Force 80,453 Employed 76,276 Unemployed 4,177 Not in Labor Force (15+) 71,267 Under 15 45,571 The larger 10-county region boasts nearly 216,000 residents in the labor force. More than one-third of this labor force lives in Montgomery County and over one-quarter resides in Clarksville alone. Clarksville is the population center of Montgomery County, as 77% of its population resides there. It also supplies 74% of its labor force. It makes sense, therefore, that Clarksville and Montgomery County trends closely follow each other—both grew over 2.5% over the past five years, or at an annual rate of 0.5% (see Table 5). TABLE 5: Labor Force Trends, 2011-2016 LABOR FORCE COMPOUND ANNUAL GROWTH RATE STRAIGHT GROWTH RATE 2011 2016 (2011-2016) Clarksville 57,584 59,075 0.5% 2.6% Montgomery County 77,267 79,415 0.5% 2.8% 10-county 216,422 215,998 0.0% -0.2% Source: Emsi Dataset 2017.3 using U.S. Bureau of Labor Statistics, LAUS program Six of the ten counties experienced declines. Labor force growth in the greater 10-county region was flat. Montgomery County showed the strongest labor force growth of the 10 counties, adding over 2,100 people to its available labor force over the past five years. A slowing growth in the labor force is a trend confronting employers across the country. Labor Force 19

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