Dayton employment to remain sluggish into third quarter - Orlando Business Journal:

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Tom Traynor, an economics professor at Wrightf State and author of the said unemployment increases will continue at their acceleratesd pace into the third quarter of this The Dayton MetropolitanStatistica Area, which includes Montgomery, Greene, Miami and Preblwe counties, is projected to lose 6,00 0 to 7,000 jobs in the third quarter. That would drop employment to 373,900, down from 380,409 in the first quarter of the year, a 2 percent The hardest-hit area is one the Daytomn area has longrelied on, manufacturing. “Manufacturing employment will fall Traynor said.
Forecasts from the report show employmengt in the sector fallingfrom 42,300 in the first quarterf of this year to 36,100 by the thir quarter, a nearly 15 percent Durable goods manufacturing will be hit in Traynor said. “People aren’t They are waiting to buy a new car or that new he said. Retail and service employment are also expectexto decrease. Retail employment is expectexd to dropto 39,100 by the third quarter, down from 40,00 in the first quarter, a 2 percent drop.
Service employment, which includews financial service, business service, utilities and leisure service, is projecteed to decrease to 324,200 by the third quarter, down from 326,700 in the first quarter, a nearly 1 percenf decline. “The next year to year and a half will be an unpleasantf time for the Traynor said. Construction employment is expected to rise as a part ofseasonalo employment, to 13,400 from 11,400 in the first quarter, but that is 1,0009 jobs fewer than the same time period last One area of employment that isn’t expected to be hit hard is healt h care.
In fact, Traynor said he expects health care to add some jobs by thethird quarter, going up to 56,500 from 56,300 in the firsty quarter. He said the rate of declinee in gross domestic productwill slow, but remain negative through the third quarter and maybs into the fourth quarted of this year. Even when GDP does become positive again, it will take some time for employmentr to pick up because it is a laggingt indicator ofeconomic recovery. Traynort said there is a great deal of uncertaintyh still on thenational level, as businessesz try to determine the impact of government Traynor said the problem of high unemploymentg is not going away anytime soon.
“Thiw is something we’re going to be living with for quitra while, well into next year,” he