The Tortoise and the Hare: Why Kentucky and Ohio Slow Population Growth

THE TORTOISE AND THE CARE WHY KENTUCKY AND OHIO'S From 2010-2012, California's employed population grew just 0.1%. At the same time, the total population outpaced that growth by 2.8%, SLOW POPULATION GROWTH MAY BE A GOOD THING 30 -15 Meanwhile, the unemployment rate in California (as well as nationally) continues to decline. 25 F12 THAT DOESN'T MAKE SENSE! 15 2010 2011 2012 Total Population Total Employed Unemployment Rate The U6 Unemployment Rate includes total unemployed persons, all marginallyattached workers, workers who are part-time for National Unemployment Rate Annual Averages 2010-2012 economic reasons. While the U3 15 Unemployment Rate, or the one you see in the news, does not include marginally attached workers and workers who 10 are employed part-time for economic reasons 2010 2011 2012 In a recent Wall Street Journal article, The Hidden Jobless Disaster, author Edward P. Lazear argues that we shouldn't be looking at the unemployment rate, but the employment rate to assess the strength of the labor market. California Ohio Kentucky 0.9% If the population grew by.. 2.8% 0.6% And the percentage of population who were employed grew by.. 0.1% 0.3% 0.9% California's Ohio's Then. Kentucky's population is population is population is growing 2.7% THINK FAST! growing 0.3% fasterthan the rate of employment. at pace with the rate of With a slow growing population base, Kentucky and Ohio need fewer jobs to keep pace. When measured against the percentage of the employed population, it appears that Kentucky and Ohio may have several economic advantages. faster than the rate of employment. employment. California Kentucky 3.0 1.0 25 08 - 2.0 0.6 F 1.5 04 1.0 02 F 05 Percentage Employed Growth Population & Percentage Emploved Growth 0.0 0.0 2010 2012 2010 2012 This infographic is brought to you by Northern Kentucky University's Center for Economic Analys is and Development (CEAD). CEAD provides economic research services for various entities throughout the NKY/Cincinnati region. For more information about these services, | ht:/0w.ly/ANFO http:/w.ly/kN3t NKU ISTER FI! other datasets, or this infographic, please visit NKYByTheNumbers.nku.edu.conomic Analysis * Development f http://ow.ly/klMS7 Millions of People Percent Percent Population Growth (16 Years and Older)