Erie area Economic Summary 4 - Bureau of Labor Statistics

Erie area Economic Summary

Updated May 03, 2021

This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see regions/economic-summaries.htm.

Unemployment rates for the nation and selected areas

Unemployment rates

Average weekly wages for all industries by county

Erie area, third quarter 2020 (U.S. = $1,173; Area = $874)

United States

4.5 6.2

Middle Atlantic

4.7 8.0

Pennsylvania

5.6 7.3

Erie area

6.3 9.1

Erie Co., PA

6.3 9.1

0.0

5.0

10.0

Mar-20 Mar-21 Source: U.S. BLS, Local Area Unemployment Statistics.

Source: U.S. BLS, Quarterly Census of Employment and Wages.

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

12-month percent changes in employment 5.0

0.0

-5.0

-10.0

-15.0

-20.0

-25.0 Mar-18

Mar-19

Mar-20

Mar-21

Erie area

United States

Source: U.S. BLS, Current Employment Statistics.

Erie area employment (number in thousands)

Change from Mar. Mar. 2021 2020 to Mar. 2021

Number Percent

Total nonfarm

117.2

-9.2

-7.3

Mining, logging, and construction

3.8

0.0

0.0

Ma nufa cturi ng

18.1

-1.1

-5.7

Trade, transportation, and utilities

20.0

-0.4

-2.0

I nforma ti on

0.8

-0.1 -11.1

Financial activities

6.6

0.0

0.0

Professional and business services

9.0

-0.8

-8.2

Education and health services

28.8

-1.8

-5.9

Leisure and hospitality

10.2

-2.8 -21.5

Other services

5.0

-0.8 -13.8

Government

14.9

Source: U.S. BLS, Current Employment Statistics.

-1.4

-8.6

Over-the-year change in the prices paid by urban consumers for selected categories

12-month percent change in CPI-U, March 2021

14.0

13.2

12.0 9.9

10.0

8.0

6.0

4.0

2.1 2.6

2.0

3.3 3.5

0.0

All items

Food

Energy

Northeast region

U.S. city average

Source: U.S. BLS, Consumer Price Index.

Over-the-year changes in the selling prices received by producers for selected industries nationwide

12-month percent changes in PPI

12.0

10.0

8.0 6.0 4.0

2.0

0.0 -2.0 -4.0

-6.0

Mar-18

Mar-19

General freight trucking

Mar-20 Hospitals

Mar-21

Plastics product mfg Source: U.S. BLS, Producer Price Index.

Average annual spending and percent distribution for selected categories

Average annual expenditures, United States and

100% 80% 60%

Northeast region, 2019

$12,791 $5,209 $7,809 $8,966

$11,088 $5,193 $7,165 $8,169

40%

$10,495

$10,742

20%

$23,525

$20,679

0% Northeast region

United States

All other items

Healthcare

Personal insurance & pensions

Food

Transportation

Housing Source: U.S. BLS, Consumer Expenditure Survey.

Average hourly wages for selected occupations

Occupation All occupations

Erie area

United States

$21.65 $27.07

Accountants and auditors

30.27 39.26

Bus and truck mechanics and diesel engine specialists

23.12 25.04

Construction laborers

21.05 20.67

Machinists

19.47 22.98

Receptionists and information clerks

12.11 15.58

Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2020.

Employer costs per hour worked for wages and selected employee benefits by geographic division

Private industry, December 2020

Middle Atlantic United States

Total compensation

$40.61 $36.23

Wages and salaries

27.77

25.48

Total benefits

12.84

10.74

Paid leave

3.16

2.69

Vacation

1.60

1.38

Supplemental pay

1.55

1.25

Insurance

3.39

2.81

Retirement and savings

1.59

1.25

Legally required benefits

3.15

2.75

(1) The states that compose the Middle Atlantic census division are: NJ, NY, and PA. Source: U.S. BLS, Employer Costs for Employee Compensation.

Over-the-year changes in wages and salaries

12-month percent changes in ECI

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0 Mar-18

Mar-19 Middle Atlantic

Source: U.S. BLS, Employment Cost Index.

Mar-20

Mar-21

United States

Mid-Atlantic Information Office ? BLSinfoPhiladelphia@ ? ? 215-597-3282

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