AAC F A M I L Y & F R I E N D S
NACo news briefs and micropolitan areas),
states and the
nation. County governments ensure the functionality of these fundamental units by building and maintaining basic infrastruc- ture assets, keeping communities healthy and safe, and providing the social safety net for those in need. 2014 was a year of growth, but recovery
from the recession remains sluggish. By 2014, the GDP in 55 percent of all county economies recovered or did not decline as measured over the last decade. Home prices were in a similar situation. Job growth accel- erated and 63 percent of county economies witnessed faster job gains than in 2013. Tis job growth helped unemployment decline in almost all county economies dur- ing the past year, but it was not sufficient to bring most county economies to levels seen before the recession. Nearly three-quarters of county economies are still below their pre-recession employment levels and unem- ployment is not back to pre-recession rates in 95 percent of county economies. However, by 2014, almost three-quar- ters of county economies had recovered to pre-recession levels on at least one of the indicators analyzed (GDP, employment, unemployment rates and home prices). For the first time, one large county economy (Kent County, Mich.) out of the 124 large county economies reached its unemploy- ment rate seen before the downturn. Yet, none of the large county economies
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— counties with more than 500,000 resi- dents — recovered on all four indicators. Smaller county economies have fared
better. Sixty-five county economies recov- ered on all four indicators by 2014. Most are small, counties with fewer than 50,000 people. Most of them have booming en- ergy and agriculture sectors (in states such as Alaska, Kansas, Montana, North Dakota and Texas).
County economies are where Americans feel the national economy. While the 2014 national economic numbers are strong, Americans do not see them in their pay- checks. For example, only 40 percent of the new jobs in 2014 were in industries paying more than the average wage in the county where the job resides. Large county economies continued to generate a dispro- portionate share of the new jobs in 2014, but only 38 percent of the net jobs created in the 124 large county economies were in industries paying above the 2013 average wage in their residing county. Between 2012 and 2013, average wages declined in half of county economies, when taking into consideration the cost of living and inflation. In states such as Pennsylvania, New Mexico and Maryland, only a third of county economies saw growth in their cost of living and inflation-adjusted wages. Tis sluggish and uneven recovery across county economies adds to the obstacles that challenge counties. Counties face a tri-
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ple threat from the uncertainty around ma- jor federal policy changes, from tax reform, entitlement reform and appropriation cuts, absent any reductions in unfunded man- dates or federal regulations. Counties are doing their part, investing in economic development, transportation and providing core social services. In cre- ating economic development initiatives, counties leverage networks of public, non- profit and private partners necessary for successful local economic development. “Te County Economic Tracker is a re- minder that that the U.S. economy hap- pens on the ground, in the 3,069 county economies that provide the basis for coun- ty governments,” said Matt Chase, NACo executive director. “Economic growth is spreading, but most county economies have not recov- ered to levels seen before the recession on a number of indicators. Tis progress through adversity indicates the success of county economic development efforts, but also the continued need for a strong local-state-federal partnership in securing a strong economy.” You can find the 2014 County Economic
Tracker: Progress through Adversity at www.
naco.org/countyeconomies. To access the companion interactive maps and the indi- vidualized county profiles, go to NACo’s County Explorer interactive map at www.
naco.org/countyexplorer .
COUNTY LINES, WINTER 2015
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