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

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Tom Traynor, an economicds professor at Wright State and authore ofthe report, said unemployment increasee will continue at their accelerated pace into the third quartee of this year. The Daytobn Metropolitan Statistical Area, which includes Montgomery, Greene, Miami and Preble counties, is projected to lose 6,000 to 7,000 jobs in the third quarter. That woulr drop employment to 373,900, down from 380,400 in the firsf quarter of the year, a 2 percent decline. The hardest-hit area is one the Daytob area has longrelied on, manufacturing. “Manufacturingt employment willfall substantially,” Traynor said.
Forecasts from the reporr show employment in the sectofr fallingfrom 42,300 in the firsyt quarter of this year to 36,10p by the third quarter, a nearly 15 percent Durable goods manufacturing will be hit in particular, Traynor “People aren’t spending. They are waitinf to buy a new car or that new he said. Retail and service employment are also expectedrto decrease. Retail employment is expected to dropto 39,100 by the third quarter, down from 40,000 in the first a 2 percent drop.
Service which includes financial business service, utilities and leisure service, is projected to decreasee to 324,200 by the third quarter, down from 326,709 in the first quarter, a nearly 1 perceny decline. “The next year to year and a half will be an unpleasangt time forthe region,” Traynor Construction employment is expected to rise as a part of seasonalk employment, to 13,400 from 11,400 in the first quarter, but that is 1,000p jobs fewer than the same time period last One area of employment that isn’t expecteds to be hit hard is health care.
In Traynor said he expects health care to add some jobs by thethirc quarter, going up to 56,500 from 56,300 in the first quarter. He said the rate of decliner in gross domestic product will but remain negative through the thirdf quarter and maybe into the fourth quarter of this Even when GDP does becomepositive again, it will take some time for employmentf to pick up because it is a laggingt indicator of economic recovery. Traynot said there is a greatt deal of uncertainty stilk on thenational level, as businessesd try to determine the impact of government actions. Traynor said the problej of high unemployment is not going awayanytime soon.
“Thia is something we’re going to be living with for quitdea while, well into next year,” he