The labor force components measure the labor supply for our region's establishments. Labor force components break down workers into employed (people, age 16+, with a part-time or full-time job) and unemployed (people, age 16+, who are not working but are looking for a job). People not looking for a job (e.g., full-time students, retirees, stay-at-home parents) are not part of the labor force. Growth in the labor force provides the talent necessary to grow our region's economy.
Between 2023 and 2024, the region saw little labor force grow – increasing by 15,000 people. At the same time, the total number of employed declined by more than 7,000 people and the total number of unemployed grew by more than 22,000 people. While it is encouraging to see the region’s labor force is almost back to pre-2020 levels, the rising number of unemployed is a little concerning.