Oakland County leads in job growth

According to a recent press release, Oakland County’s job growth since 2010 has outpaced other key counties of similar population around the United States, Oakland County Executive L. Brooks Patterson announced.

“Oakland County plays a significant role in Michigan’s economic recovery because of our deep dive into the knowledge-based economy,” Patterson said. “And from the looks of it, we are a leader in the nation as well.”

Oakland County has 11 percent more jobs than it had in 2010, said Dan Riley, a market research analyst in the Department of Economic Development & Community Affairs. Using the May 2014 jobs numbers just released by the Bureau of Labor Statistics (BLS), Riley compared Oakland County to other counties of similar size – the same ones to which the University of Michigan compares Oakland County in its annual economic outlook report:

County                                                    Percentage more jobs since 2010

Oakland County, Mich.                              11 percent

Wake County, N.C.                                     10 percent

Macomb County, Mich.                             9.4 percent

DuPage County, Ill.                                     7.9 percent

Hennepin County, Minn.                           6.6 percent

Orange County, Calif.                                 6.2 percent

Fairfield County, Conn.                              3.9 percent

Nassau County, N.Y.                                   2.4 percent

Fairfax County, Va.                                     2.3 percent

Montgomery County, Md.                         2.2 percent

The following chart reflects the table above:

Screen shot 2014-07-01 at 11.44.19 PM
The May 2014 jobs figures from the BLS indicate that Oakland County’s labor force increased by 5,600 participants to 594,916 and the number of employed residents grew by 2,800. Because of more participation in Oakland County’s work force, the May unemployment figure for Oakland County is 6.9 percent, up from 6.5 percent in April.

“Greater participation in our county work force indicates that individuals have growing confidence in our economy,” Patterson said.

In an effort to diversify the economy, Patterson launched Oakland County’s Emerging Sectors initiative in 2004 to identify the top 10 sectors that will attract and retain sustainable, high-paying jobs to the region in the 21st century. Companies in these Emerging Sectors are involved in such leading-edge fields such as advanced electronics & controls, advanced materials & chemicals, communications & information technology, robotics & automation, and Oakland County’s Medical Main Street.

Since its inception, 284 companies have invested $2.71 billion creating 31,379 jobs and retaining 16,282. For more information about Emerging Sectors, go to www.AdvantageOakland.com.

About Sarah Hovis

Word manipulator, arts appreciator, sports spectator, and world traveler, Sarah charts her own course as the owner of saliho creative. She uses her creative mind and engaging dialogue to fearlessly bring the written word to life in print and online… all while keeping a watchful eye out for the next literary adventure. You can reach her at [email protected].

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