economic census and related sources sarah cohen duke university 00:00
TRANSCRIPT
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Economic Census and related sourcesSarah CohenDuke University
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Economic data sources
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
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Story examples
• 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 Wal-Mart?
• 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.
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More Stories
• 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.
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Economic vulnerability
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Concepts
• 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
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Source comparison
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.
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Economic Census12:09
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Basic industry data by state
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Useful ratios14:27
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Industry series18:35
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County business patterns
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Location quotients22:47
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Zip codes – industry
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Quarterly Emp & Wages
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Location quotient calculator
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Getting other QEW data
• Use multi-screen, not the single screen.
• Tables very difficult to read – save the series codes and do it that way.
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Change the display
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Regional economic accounts
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Metro area GDP
• 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.
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RIMS
• 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.
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