Transcript Economic Census and related sources

Economic Census and related
sources
Sarah Cohen
Duke University
00:00
From the Census Bureau
• Economic Census every five years
• County Business Patterns every year
From the Bureau of Economic Analysis
• Regional economic accounts (State, local GDP)
• Regional input-output modeling system (RIMS II - $270)
From Bureau of Labor Statistics
• Quarterly Employment and Wages with location quotients
Economic data sources
00:29
• How much does my area depend on one or a few
businesses or industries? (location quotient)
• How likely are the projected jobs and tax revenue for
new stadiums, economic development subsidies or a WalMart?
• Estimate the effect of price spikes, shortages on your
local area (localizing national stories)
• Quick way to understand the important drivers in a region
or a new beat.
Story examples
2:25
• Tampa Bay area was dependent on back office jobs. The
story warned of the coming bust from offshore operations
and automation.
• In the Washington area, the number of employees
working for contractors was greater than the number
working for the government.
More Stories
3:20
Economic vulnerability
4:48
• Based on where economic activity happens
• Usually excludes government
• Industry, not product, based.
• Establishments, not companies
• Confidentiality limits a lot of publication
• Overlapping sources and methods
Concepts
5:54
Sector
Econ Census
County Bus Pat
Quarterly BLS
Agriculture
No*
No
Yes
Government
No*
No
Yes**
Self-employed,
domestic
No
No
No
Small estabs (<5)
Yes
Yes
No***
•
•
•
The Census of Agriculture from the Agriculture Department and Census of
Governments available from the Census Bureau can be added for basic data
elements.
BLS employment excludes active military and national intelligence agencies
BLS includes all establishments covered by unemployment insurance. Some
very small employers don’t have to cover their employees.
Source comparison
10:20
Economic Census
12:09
Basic industry data by
state
13:26
14:26
Useful ratios
14:27
Industry series
18:35
County business patterns
19:21
20:21
Location quotients
22:47
Zip codes – industry
24:52
Quarterly Emp & Wages
25:35
Location quotient
calculator
27:56
• Use multi-screen, not the single screen.
• Tables very difficult to read – save the series codes and
do it that way.
Getting other QEW data
30:31
Change the display
32:20
Regional economic
accounts
32:49
• State and metro area GDP estimates – based on
production areas, easy to use
• Local (county) personal income estimates, adjusted to
reflect where people live, not where they get their money
• Includes sources of income and does not shield as much
data.
Metro area GDP
34:07
35:10
• Lets you estimate for yourself economic impacts.
• Useful for government economic development spending,
loss of industry, new stadiums
• Very complex, costs $275 for your area, but may be
worth the investment to understand it.
RIMS
35:40