FY 24 APPROVED OPERATING BUDGET

Performance Measure 4: Harford County Unemployment Rate ABOUT THIS MEASURE:

Low unemployment rate reflects health of workforce opportunity and engagement at local level; success should translate into higher overall employment rate for county residents as they will have more opportunities to find employment through more available positions and better skillset. For point of reference the FY 23 State unemployment rate closed at 2.4% and the National rate at 3.6%.

WHAT IS BEING DONE AND WHY IT IS IMPORTANT TO TRACK:

Holistic focus on workforce development, training, retooling and upskilling; continuity of full employment equals income tax revenue increase, higher wage earners, career mobility in skilled trades and professions. Harford County aims to have an unemployment rate lower than the State and National average.

FACTORS CONTRIBUTING TO CURRENT PERFORMANCE:

Availability of skilled workforce; training program access; federal gov't telework policy implementation

Performance Measure 5: Harford County average weekly wage ABOUT THIS MEASURE:

Average weekly wage reflects skill attainment, impacts consumer spending, housing/rental; success should translate into higher weekly wage growth for county residents as more of them are able to upgrade current positions into higher paying positions through better skillsets

WHAT IS BEING DONE AND WHY IT IS IMPORTANT TO TRACK:

Positive gains in average weekly wage rate contribute directly to income tax and indirectly to property tax

FACTORS CONTRIBUTING TO CURRENT PERFORMANCE: High skilled, high paying job access and availability retain workers and promote career mobility in nationally competitive environment

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