July 21, 20186 yr Hoping these numbers do not get revised downward in the coming months, but as of now Cleveland is having its most robust job expansion in seven years. It is also the best performing metro in Ohio as of June 2018. https://www.bls.gov/regions/midwest/oh_cleveland_msa.htm
July 21, 20186 yr Year over year, that is the most jobs we've had in June since 2001. But amazing that we still have to undo the damage of the 2001 recession after climbing out of the damage of the Great Recession. Doesn't help that the expansion between wasn't for us. 2000-2010 was a total lost decade.
July 21, 20186 yr 2.1% year over year is faster than the other two C's, and any of the other large cities in the Midwest, including Minneapolis. It's even faster than places like Atlanta, Boston or San Francisco, and at the same caliber as Nashville, Portland and Charlotte - though still slower than Houston, Dallas, and Austin.
July 21, 20186 yr 2.1% year over year is faster than the other two C's, and any of the other large cities in the Midwest, including Minneapolis. It's even faster than places like Atlanta, Boston or San Francisco, and at the same caliber as Nashville, Portland and Charlotte - though still slower than Houston, Dallas, and Austin. And it's even better than May's 1.3% (revised upward to 1.4%) which Census Bureau friend called "inconsistent with a population decline". Remember: It's the Year of the Snake
July 21, 20186 yr So that's why all these out-of-state license plates are here. Now if only we could just figure out how to better link Greater Cleveland's unemployed with its thousands of unfilled jobs.... Starts with a T. Ends with a T.... If only... "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 21, 20186 yr So that's why all these out-of-state license plates are here. Now if only we could just figure out how to better link Greater Cleveland's unemployed with its thousands of unfilled jobs.... Starts with a T. Ends with a T.... If only... That reminds me, I need to change my two vehicles to Ohio license plates!!
July 23, 20186 yr Interesting! Also of interest from Payscale.com (although not related to Income Inequality) is that one of the highlights on the page https://www.payscale.com/payscale-index/ is that San Jose and Cleveland had the highest wage growth. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 24, 20186 yr Building Blockland: Cleveland civic leaders' brainstorming includes convention, potential tech campus https://articles.cleveland.com/metro/index.ssf/2018/07/building_blockland_cleveland_c.amp "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 27, 20186 yr Forget the Ferrari Tower. Bring on the Bentley Tower! "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 27, 20186 yr ^That's great that its one the west side---not all the fancy stuff always going east.
July 30, 20186 yr ^That's great that its one the west side---not all the fancy stuff always going east. Probably to be close to where all the pro athletes live. Lots of Indians and Browns players live over there. Plus I think there is already a small contingent of luxury auto places on Lorain in North Olmsted.
July 31, 20186 yr CLEVELAND AMONG TOP CITIES FOR TECH TALENT GROWTH, RANKING #8 ON CBRE’S ANNUAL LIST OF MOMENTUM MARKETS Cleveland, OH | July 25, 2018 Cleveland ranks #8 on CBRE’s list of tech talent momentum markets, a measure of growth acceleration in its tech talent labor pool, in the firm’s sixth-annual Scoring Tech Talent Report, which ranks 50 U.S. and Canadian markets according to their ability to attract and grow tech talent. Cleveland’s tech talent labor force grew 9 percentage points faster in the last two years (2016-2017) than the previous two-year period (2014-2015). The report, which can be viewed in detail by market in the interactive Tech Talent Analyzer, found that tech talent job growth gained momentum in 23 of the 50 markets. The top 10 momentum markets and their associated tech talent job growth rates were: MORE: https://www.cbre.us/about/media-center/cleveland-among-top-cities-for-tech-talent-growth "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 31, 20186 yr A key finding from CBRE's otherwise bland 2nd-quarter office market report: + Cleveland’s Class A market continues to outperform the overall market in just about every metric, continuing the “flight to quality” CBRE has observed quarter over quarter. Cleveland Market Outlook 2018: + Labor Market : Local unemployment finishes 2017 at 4.7%. It is a job-searcher’s market, as firms find locating skilled talent a challenge. + Office Sector : Large blocks of space in prime corridors hit the market as developers near completion dates on new office product. + Industrial + Logistics Sector : E-commerce’s effect on industrial real estate is being witnessed firsthand in Cleveland, with over 2.3 million sq. ft. of warehouse/distribution space under construction. + Retail Sector : Retailers are investing less in spatial footprints, and more in omnichannel retailing, as consumer shopping preferences are now driving the retail market. + Multi-Family Sector : New urban development contines to be proposed, as people look for live-work-play districts they can call home. + Capital Markets Sector : Industrial, multi-family, office and prime retail centers continue to be key targets of investors looking to expand within Northeast Ohio. https://www.cbre.us/research-and-reports/Cleveland-Market-Outlook-2018 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 31, 20186 yr Cleveland is neither slipping as badly nor as ill-equipped for the future as some believe: Richey Piiparinen (Opinion) https://www.cleveland.com/opinion/index.ssf/2018/07/cleveland_is_neither_slipping.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 3, 20186 yr I can't say that I believe the construction of two buildings on E. 105th will lead to less poverty in the neighborhood. Tending to growth, tackling poverty issues key focus for Glenville councilman: Cleveland City Council summer recess By Robert Higgs, cleveland.com CLEVELAND, Ohio - City Councilman Kevin Conwell envisions a day when the economic activity from University Circle will reach north up East 105th Street, sparking growth in his Glenville neighborhood. Tending to that growth, and to other projects, has been one of Conwell's top efforts over the summer. Cleveland City Council recesses after the first week in June. It meets once in July and once in August before resuming regular meetings after Labor Day. This story is the first of a cleveland.com series that reports on what council members are focused on during the summer recess. More at: https://www.cleveland.com/cityhall/index.ssf/2018/07/tending_to_growth_tackling_pov.html There's more than that going on. Check out my blog at: http://neo-trans.blogspot.com/2018/08/leveraging-boomtown.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 3, 20186 yr At my last conference today, we had a panoramic view of DC. I counted 19 cranes in my immediate view. We’ve got some good momentum, but seeing this was overwhelming
August 4, 20186 yr There's at least a half-dozen visible during the MLB all-star game at Nationals Park. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 4, 20186 yr Its not just DC. Arlington has at least about 15 up in the Rosslyn/Ballston corridor alone. There are seven cranes at Tysons Corner not to mention land being cleared for more offices/apartments and more cranes. I would say there are at least 50 active large cranes in the DC metro. I countered at least 7 in Baltimore last spring although that number may have decreased since the Four Seasons condos are finished.. I don’t mention DC area cranes because some forumers on here go nuts if you compare any East Coast city to Cleveland. Rather keep the peace.
August 4, 20186 yr A couple of measuring-stick reports.... Northeast Ohio falls short in generating new firms http://www.crainscleveland.com/article/20180803/news/170736/northeast-ohio-falls-short-generating-new-firms Report examines the future of arts and culture in Cuyahoga County http://www.crainscleveland.com/article/20180803/news/170491/report-examines-future-arts-and-culture-cuyahoga-county "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 5, 20186 yr At my last conference today, we had a panoramic view of DC. I counted 19 cranes in my immediate view. We’ve got some good momentum, but seeing this was overwhelming In all honesty, the federal government should be decentralizing. Modern communications means it does not have to be co-located. Spreading it around can potentially defeat the inside-the-beltway mindset. I also think Congress should do more telecommuting, for the same reason. Also to make it tougher for lobbyists and easier for constituents to be heard.
August 5, 20186 yr This is true also of major coastal industries. The current setup doesn't make sense from a real estate perspective. Why should all tech be in Seattle and SF when even people on six figure incomes can barely afford to live there, and meanwhile the Midwest desperately needs the jobs? There needs to be a leveling off at some point. The only thing I'll say about Congress is that a lot of people say that it got a lot more polarized once Newt Gingrich instituted long weekends and Reps started going home every weekend. Before that the two parties got to know one another, sent their kids to schools together, etc.
August 5, 20186 yr This is true also of major coastal industries. The current setup doesn't make sense from a real estate perspective. Why should all tech be in Seattle and SF when even people on six figure incomes can barely afford to live there, and meanwhile the Midwest desperately needs the jobs? There needs to be a leveling off at some point. The only thing I'll say about Congress is that a lot of people say that it got a lot more polarized once Newt Gingrich instituted long weekends and Reps started going home every weekend. Before that the two parties got to know one another, sent their kids to schools together, etc. It especially applies to tech, or should. I think that's what Amazon is trying to do. Let's see what happens. Gingrich was on to something, but that was time away from Congress. They're inevitably going to spend time in DC, but committee hearings, etc could be done remotely. They are, after all, "representatives". http://thehill.com/policy/technology/289947-republican-proposes-letting-lawmakers-work-from-home
August 5, 20186 yr Yes but there becomes a certain point where your working relationship is so weak due to never spending any time together, that you can't get anything done. It's easier to get things done remotely in tech/engineering/STEM fields, or even general administrative work, but when you have a field like politics where the entire point is to build consensus with one another, it might be a good idea to spend some time together. Anyways, off topic for this thread. Give us the jobs!
August 5, 20186 yr There's still value in tight collaboration, the kind that isn't possible over distances. Tech hubs and capitals have persisted for a reason. Doesn't mean there can't be more hubs as tech becomes bigger. The whole point of cities is that we're better off collaborating.
August 5, 20186 yr Right, the point is we need to find our own small niches to take hold of and make Cleveland into a collaborative hub for those. Biotech, obviously. Advanced manufacting, sure. Whatever happened to nanotech- we made a big push a few years ago, now I hear nothing. I'm impressed with the current push behind blockchain, but will anything really come of it?
August 8, 20186 yr Fed researchers: Cleveland economy continues to improve, albeit slowly http://www.crainscleveland.com/article/20180806/news/170936/fed-researchers-cleveland-economy-continues-improve-albeit-slowly "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 8, 20186 yr https://www.cleveland.com/expo/news/erry-2018/08/bf388a4044136/see-how-much-home-prices-are-u.html#incart_river_index Lakewood and the West Side neighborhoods of Cleveland have some interesting numbers.
August 8, 20186 yr Look also at the difference between home prices and price growth on the east and west sides of Cleveland. West side values were roughly twice the east side's. Now they're roughly triple. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 8, 20186 yr WEDNESDAY, AUGUST 8, 2018 Cleveland's growing home sales & homelessness There is an incredible story playing out among the spreadsheets and city streets in the Cleveland. On the data side, real estate market observers are watching a remarkable rise in the number of housing sales and prices in the City of Cleveland. At the same time, social service organizations and agencies are witnessing a sad downside -- worsening homelessness -- that needs to be addressed very soon, preferably before another cold winter sets in. First, consider the rate at which housing is being sold in Cleveland. It is increasing over the number of 2017 sales transactions at a pretty large clip, according to the Cuyahoga County Fiscal Officer's office. And it's being sustained from month-to-month, making for a hot spring/summer in the local real estate market: MORE: http://neo-trans.blogspot.com/2018/08/clevelands-growing-home-sales.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 8, 20186 yr I suspect that the bigger problem than rising housing values pricing people out of homes and neighborhoods is the collapse of the bottom of the housing market resulting in housing getting foreclosed, condemned, and demolished. Affordable housing needs to be sustainable, and a "ride it to the bottom" mindset in many Cleveland neighborhoods means that a huge portion of Cleveland's affordable housing stock is in liquidation mode- take the rent now, and don't reinvest to keep it habitable down the road. More aggressive code enforcement could stabilize that low end, but is very unpopular with voters- especially seniors, who unfortunately are often liquidating the value of their own housing through deferred maintenance.
August 9, 20186 yr https://www.clevescene.com/scene-and-heard/archives/2018/08/09/good-news-were-paying-more-for-rent-in-cleveland-than-ever-before Cleveland Scene... please be more whiny
August 9, 20186 yr Author Plenty, PLENTY of apartments in the city which are cheaper than $1100 a month for a 2 bedroom. Maybe the focus is on certain neighborhoods vs the city as a whole.
August 9, 20186 yr Fund That Flip, a New York based lending company, founded by a grad of John Carroll U., moved it's back office work to Cleveland last year. Now it considers itself co-based. "The Midwest Takes Omaha! Join us for happy hour with Cleveland and NYC-based lenders Fund That Flip Wednesday, September 26th at Vis Major Brewing." - taken from: https://www.eventbrite.com/e/omaha-real-estate-investors-happy-hour-with-fund-that-flip-tickets-48042919666?utm_content=75490680&utm_medium=social&utm_source=facebook Remember: It's the Year of the Snake
August 9, 20186 yr Plenty, PLENTY of apartments in the city which are cheaper than $1100 a month for a 2 bedroom. Maybe the focus is on certain neighborhoods vs the city as a whole. You can even find relatively cheap apartments in the suburbs too. These are all of the 2BR, $1,000 or less apartments that show up on rent.com "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 9, 20186 yr Along similar lines.... In Cleveland and elsewhere, renting is an increasingly popular choice http://www.crainscleveland.com/article/20180809/blogs03/171321/cleveland-and-elsewhere-renting-increasingly-popular-choice "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 10, 20186 yr A tradition to build upon. Hispanic entrepreneurs spring from the legacy of Cesi Castro and his peerless Caribe Grocery, via @nikkidelamotte https://www.cleveland.com/entertainment/index.ssf/2018/08/bodega_of_late_hispanic_commun.html @LatinoCleveland @HRe3News @GlobalCleveland "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 13, 20186 yr Two big employers' growth buoys top 100 list http://www.crainscleveland.com/article/20180812/news/171546/two-big-employers-growth-buoys-top-100-list "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 17, 20186 yr An interesting and publicly visible conversation regarding economic revitalization of Cleveland on Twitter.... @berniemoreno I would encourage you to come to our meetings and learn about exactly what and why we are doing this around blockchain. The next meeting is August 21 at 9 am at One Cleveland Center! Spoiler alert ... It’s not about blockchain! @WillTarter Respectfully, 8/21 at 9 am is the next @GCRTA Board Meeting, which as you know, is very important to the civic interest. Will there be another Blockland briefing? And secondly, would you support meetings where ideas are focused on revitalizing public transportation? @berniemoreno Sorry, didn't address point #2 ... that is part of our Place Node and that group is working on a comprehensive plan around public transportation as it relates to their work. Can explain in more detail in person. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 17, 20186 yr BLS jobs report came out. June was revised downward slightly to 1.9% (still great). This month's initial numbers are even better at 2.5% YOY. https://www.bls.gov/eag/eag.oh_cleveland_msa.htm
August 17, 20186 yr For the 2nd month in a row we are at the highest job total for the month since 2001. But we'll need 2 more years of this y-o-y growth to get back to our 2000 employment peak. Still, 2018 is shaping up to be Cleveland's best year for job growth in a very long time.
August 21, 20186 yr Sitting outside at Great Lakes Brewing Co. last night, I saw cars with license plates from Illinois, Michigan, New York, Vermont, Kentucky, California and Florida. Oh, and a few Ohio cars too but not as many. Not sure what this means about Cleveland's economy but it is probably good. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 21, 20186 yr Sitting outside at Great Lakes Brewing Co. last night, I saw cars with license plates from Illinois, Michigan, New York, Vermont, Kentucky, California and Florida. Oh, and a few Ohio cars too but not as many. Not sure what this means about Cleveland's economy but it is probably good. I've seen a lot of NY plates on the freeways the last few weeks. Not just 90 where they could be passing through, but 271.
August 21, 20186 yr Sitting outside at Great Lakes Brewing Co. last night, I saw cars with license plates from Illinois, Michigan, New York, Vermont, Kentucky, California and Florida. Oh, and a few Ohio cars too but not as many. Not sure what this means about Cleveland's economy but it is probably good. I've seen a lot of NY plates on the freeways the last few weeks. Not just 90 where they could be passing through, but 271. Not to discount your post but 271 is a Cleveland bypass of 71 to the east which connects with 90. Certainly could be some people passing through.
August 21, 20186 yr For the 2nd month in a row we are at the highest job total for the month since 2001. But we'll need 2 more years of this y-o-y growth to get back to our 2000 employment peak. Still, 2018 is shaping up to be Cleveland's best year for job growth in a very long time. Impressive!
August 21, 20186 yr Author For the 2nd month in a row we are at the highest job total for the month since 2001. But we'll need 2 more years of this y-o-y growth to get back to our 2000 employment peak. Still, 2018 is shaping up to be Cleveland's best year for job growth in a very long time. Looking at the BLS numbers, June is historically where employment peaks for the year in the Cleveland region. 2018 is one of the only years where July's numbers are higher than June's. It's great to see Cleveland's numbers grow and I hope it continues. Undeniably the region's economy has restructured with many more eds-and-meds jobs which have replaced the loss in manufacturing. The stagnation during the Bush years and then the Great Recession was painful for many, but it appears they were needed in order for the region to finally, FINALLY, turn a corner statistically speaking. What remains is now getting people who have been left behind in the economic changes involved and employed. I've often wondered what the cost would be to make Tri-C tuition free. That would be one of the best ways to get people trained in jobs offered today.
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