The Institute releases latest ‘economy tracker’

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The Institute for Public Policy & Economic Development on Nov. 16 released its 2012 Economy Tracker. The 2012 Economy Tracker closely examines eight counties in northeastern Pennsylvania, including: Bradford, Lackawanna, Luzerne, Monroe, Pike, Susquehanna, Wayne, and Wyoming.

The Economy Tracker highlights changes that have occurred in demographics, business and the economy. The following are select charts and findings:

Lackawanna County Migration
Lackawanna County experienced an overall increase in residents due to migration. During each year examined, the county reported higher in-migration than out-migration. Lackawanna County reported the highest in-migration between 2006-2007, when 5,557 individuals located to the county. During the four years examined, the total number of people migrating to the county decreased.

Luzerne County Migration
Over 33,000 individuals migrated into Luzerne County in the four years examined, while nearly 29,900 migrated out. The county reported the highest in-migration of 8,556 residents from 2006-2007. Luzerne County reported the highest net migration gain of 551 from 2009-2010.

Monroe County Migration
Monroe County had an overall decrease of in- and out-migration over the four years examined. Monroe County saw its highest in-migration in 2005-2006, with 10,334 new residents. In 2009-2010, the county’s out-migration declined to 6,357. Overall, net migration has been declining; however, the most recent figures show that the county’s in-migration is still higher than out-migration.

Pike County Migration
Pike County experienced an overall increase in residents due to migration. During each year examined, the county reported higher in-migration than out-migration. The county’s highest level of in-migration occurred between 2005-2006, when 1,679 more individuals located to the county than left.

Susquehanna County Migration
Unlike other counties, Susquehanna County reported greater out-migration than in-migration during several years. Although its in-migration shows an overall decline, Susquehanna County is expected to show increased residents due to Marcellus Shale development.

Wayne County Migration
Wayne County reported positive migration growth during each year examined. The county’s highest in-migration occurred in 2005-2006, with 2,522 new residents. Its greatest net migration occurred in 2007-2008, with 405 new residents.

Wyoming County Migration
Wyoming County reported a negative net migration during two of the four years examined. During 2006-2007, the county showed positive net migration of five residents, and in 2009-2010 it showed a positive net migration of 42 residents. The number of in-migrants was highest in 2005-2006, with a total of 1,224. Wayne County showed the least amount of growth among the counties examined.

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