The June Trends report from the Office of Revenue Analysis reports that the annual growth in non-lawyer professional services and business services topped private sector job growth in the District in May. How does the District compare to the rest of the nation?
From May 2014 to May 2015, professional and business services jobs grew in 44 out of 52 jurisdictions (50 states, the District, and Puerto Rico); here is a look at how the District compares to the other states in this sector.
- The District added 4,900 new jobs in the professional and business services sector between May 2014 and May 2015 (seasonally adjusted). This number is smaller than what we see in other states (the District ranked 22nd) but that is because we have a much smaller workforce compared to many other states. The top four states with the largest gross increase in professional and business service jobs are – California, Florida, Texas, and New York.
- The picture changes slightly when you look at the growth rate in professional and business services jobs in that jurisdiction. Professional and business services jobs grew faster in the District compared to other states: 12 percent between May 2014 and May 2015 (seasonally adjusted) while the average state growth was 2.1 percent (seasonally adjusted). Here, the District ranks 18th among all states–higher than Texas and New York. Oregon tops the list, just above California, with a 5.5 percent growth in the professional and business services jobs.
- However, the District really stands out when one looks at how much this sector contributed to overall growth. The District is heavily dependent on professional services jobs for overall growth in the last year. When we look at all the jobs we added in the last year (13,100 total jobs added between May 2014 and May 2015, seasonally adjusted) professional services accounts for 37 percent of the new non-farm jobs. Here, the District ranks 3rd among states in percent of growth coming from professional services.
What exactly is this data?
Bureau of Labor Statistics State and Metro Employment data. Specifically, Regional and State Release Table 5, Employees on non-farm payrolls by state and selected industry sector, seasonally adjusted. (http://www.bls.gov/sae/#tables).