Workforce Training Remains Top Issue in 2019

• March 3rd, 2020

Education and workforce training remains the top issue facing Alabama, according to the 2019 Alabama Business Confidence Index (ABCI) Panelist Poll.

The Center for Business and Economic Research (CBER) in The University of Alabama’s Culverhouse College of Business conducts an annual survey of Alabama business leaders to determine the top issues facing the state and their respective companies.

This is the third year that panelists have identified education and workforce as the top issue facing Alabama. In the 2019 survey, 84.7 percent of panelists reported concern about the state of the education and workforce training system, with specific concerns for the lack of funding for K-12 improvements; a desire for including a more career-focused curriculum in high school and junior colleges; and hopes for increased availability of workforce training programs. The goal of these improvements would be to create a more highly-trained workforce throughout the state to fill these higher-skilled positions.

The importance of this issue was echoed when panelists were asked about the top issue facing their individual companies. Having access to skilled or experienced workers allows businesses to thrive and grow, but many panelists are concerned about Alabama’s workforce. In the 2019 ABCI Panelist Poll, 72.2 percent of respondents reported difficulty in attracting and retaining qualified workers.

In addition to workforce concerns for the state, over half of the Alabama business leaders surveyed also included infrastructure, economic and business development, and dissatisfaction with government as the top issues facing Alabama in 2019. A significant portion of businesses were also concerned about job growth. When asked for the top issues facing their individual companies, panelists included government regulation and taxes, the economy in general, and company finances and development in the 2019 survey. The ranking of both lists of issues has remained consistent for the past two years.

Each quarter, business leaders respond to the ABCI survey and receive the reports that summarize the business sentiment for the state and its four largest metro areas. When asked how they use the results, over 80 percent of the 2019 panelists said they use it as a general indicator of local and regional economic outlook. About 47 percent use the ABCI reports to compare their personal projections to others’ viewpoints, and 40 percent use it as background information for their own forecasts. About 22 percent of business leaders who responded to the Panelist Poll use the ABCI reports for economic development, decision-making, or short-term planning, while that same percentage share the results with others.

The ABCI panel is open to business executives across the state. Registration and current and historical results are available on the ABCI page of CBER’s website. Newsletters with results are provided for Alabama and for the Birmingham-Hoover, Huntsville, Mobile, and Montgomery metro areas. Panelists can take the Q2 2020 survey until March 15. For questions, please contact socioeconomic analyst, Susannah Robichaux at scrobichaux@cba.ua.edu.

Alabama Business Confidence Strengthens in 2020

• February 5th, 2020

Business leaders throughout Alabama continued to express strong confidence in economic growth in the first quarter of 2020, with a very positive outlook for increased industry sales and profits, and the general strengthening of Alabama’s economy. This is shown in the latest results for the Alabama Business Confidence Index (ABCI), a quarterly survey of statewide business sentiment conducted by the Center for Business and Economic Research in UA’s Culverhouse College of Business. Highlights of this quarter’s reports include an industry breakdown of results with retail trade leading in confidence; strong optimism from the Montgomery, Mobile, and Huntsville metro areas; and small businesses continuing to have the highest ABCI. To read more about the Q1 2020 results, visit the ABCI page, where you can find the most recent results as well as download historical reports and data.

What is the ABCI?

Each quarter, CBER reaches out to business leaders throughout Alabama with a simple survey about their expectations for the coming quarter. Four of the six questions gauge the panelists’ specific industry expectations, including their sales, profits, hiring, and capital expenditure, and the remaining two focus on the general economic conditions in Alabama and the US. Once CBER has analyzed the results, reports offering insight into statewide business confidence, as well as the state’s four largest metro areas (Birmingham-Hoover, Huntsville, Mobile, and Montgomery), are available on the ABCI page of CBER’s website. Alabama businesses, as well as local governments and chambers of commerce, use the ABCI to get a feel for the business community’s expectations or measure their own forecasts against.

How do I become an ABCI panelist?

Any person who leads a business in Alabama is welcome to become a panelist. You can register here, or from the ABCI homepage.

Dr. Sam Addy Presents to Alabama Economics Club

• February 5th, 2020

BIRMINGHAM, Ala. — Dr. Sam Addy, Associate Dean for Economic Development Outreach and Senior Research Economist at Center for Business and Economic Research (CBER), is known throughout Alabama and the US as a knowledgeable researcher and vivacious presenter. Dr. Addy is a highly sought after presenter as an expert on topics like the Alabama economy, economic policy, economic development, workforce development, and many more. On January 17, he lived up to his reputation, delivering an entertaining and informative presentation on the economic impact of the University of Alabama on the state to the Alabama Economics Club (AEC) in Birmingham.

In his presentation, Dr. Addy broke down the fundamentals of economic development and then emphasized the education’s role in that process. He went on to specifically address the University of Alabama’s economic impact on the Tuscaloosa Metro Area and the State of Alabama as a whole. For more details, you can view his presentation here or visit the UA Impact Report page on the CBER website.

Dr. Addy is no stranger to the AEC; he is a founding member and has been instrumental in the growth of the organization. The Alabama Economics Club is now the state’s premier professional association for business economists and those interested in economics. The club is the Alabama chapter of the National Association of Business Economics (NABE), an organization that has attracted the brightest minds and the most prominent figures in economics, business, and academia to its membership since its inception in 1959. The AEC hosts luncheons every other month featuring speakers who are experts in their fields, offering attendees the opportunity to learn something new and network with other Alabama professionals. Though the quality of the presentation is always high, there is a lot of variety in the speakers’ occupations, with professionals coming from the private industry, economic development, the Federal Reserve, and more. For more information on the club, visit their Facebook page.

As always, CBER’s staff may make presentations at conferences and meetings for an honorarium. To learn more about all the work CBER does, visit our What We Do page. To schedule an event, email uacber@cba.ua.edu or call (205) 348-6191.

Alabama Counts! 2020 Census Campaign Kicks Off

• February 4th, 2020

MONTGOMERY, Ala. — 2020 Census efforts are well underway in Alabama as the decennial census is right around the corner. Susannah Robichaux, a socioeconomic analyst for the Center for Business and Economic Research (CBER), traveled to Montgomery on January 22 to participate in the launch of the Alabama Counts! 2020 Census campaign. CBER is proud to be working with Governor Ivey, the Alabama Department of Economic and Community Affairs (ADECA), and the U.S. Census Bureau to support Alabama’s 2020 Census efforts. The speakers at the January 22 kick-off meeting covered some important topics.

Kenneth Boswell, director of ADECA and chairman of Alabama Counts, kicked off the event by acknowledging the incredible work that Alabama has already put forth. ADECA is funding $1 million worth of grants to support grassroots efforts that will boost decennial census participation with hard-to-reach communities, as well as travelling throughout the state to develop partnerships and help communities organize local census committees.

Governor Kay Ivey spoke to the need for an accurate and full count for the state, emphasizing the impact of the 2020 Census on Alabama’s presence in the House of Representatives and the allocation of federal funding for schools, healthcare, and job opportunities in our state. She finished her presentation with a call to action: “Let’s work together to make sure Alabama Counts!”

ADECA is working with Big Communications Inc. to get the word out about the 2020 Census in Alabama. Senior strategist, Ally Clokey, presented Big Communcations’s research and strategies at the meeting. The marketing firm has put together profiles for each county that include details to help each county connect with their specific population. In addition, Big Communications has also created a wealth of campaign resources for local organizations, including posters in English and Spanish, social media assets, yard signs, a Powerpoint deck, and more. All of these assets can be personalized and are available on the Alabama 2020 Census resources page.

Carletta Singleton, Partnership Coordinator for the U.S. Census Bureau’s Alabama division, praised the state’s outreach efforts and encouraged people to continue supporting local efforts. March 12 marks the beginning of the 2020 Census, with online response opening that day. The Alabama census office will pay close attention to participation rates from March through July, and will coordinate with local partners to help increase awareness in low-response regions. Singleton also reminded attendees that the Census Bureau is hiring enumerators through March 30. These temporary jobs start at $14 per hour, and are great part-time work for anyone wanting to help make sure their local community counts. Anyone interested can apply on the 2020 Census website.

As the lead for the Alabama State Data Center (ASDC), the official partnership between the U.S. Census Bureau and the State of Alabama, CBER helps disseminate data locally and coordinate workshops to help communities prepare for the 2020 Census. The analysts at CBER know just how important a successful count is to the state and are doing everything they can to help make sure Alabama Counts!

2020 Economic Outlook

• January 15th, 2020

2020 Economic Outlook Conference Review

The Center for Business and Economic Research (CBER) held the 2020 Economic Outlook Conference January 9, 2020 at the Capital City Club in Montgomery. Attendees from all over the state gathered to network and get some perspective into what 2020 might have in store for the state. Speakers included several CBER staff members, as well as David Altig, Executive Vice President and Director of Research at the Federal Reserve Bank of Atlanta, and David Bronner, Chief Executive Officer of the Retirement Systems of Alabama. The presentations from the conference are now available on our CBER’s website on the Alabama Economic Outlook page, offering a chance to review some of the very interesting perspectives shared this year. Thanks to all who attended this year’s conference, and we hope that if you weren’t able to make it this year, you’ll join us for 2021.