economic overview loudoun county, virginia · 2017-10-23 · in 2016, the population in loudoun...

Economic Overview

Loudoun County, Virginia

October 23, 2017

Source: JobsEQ®, http://www.chmuraecon.com/jobseq Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.

2

DEMOGRAPHIC PROFILE ............................................................................................................................................................ 3

EMPLOYMENT TRENDS .............................................................................................................................................................. 5

UNEMPLOYMENT RATE .............................................................................................................................................................. 5

WAGE TRENDS ........................................................................................................................................................................... 6

COST OF LIVING INDEX ............................................................................................................................................................... 6

INDUSTRY SNAPSHOT ................................................................................................................................................................ 7

OCCUPATION SNAPSHOT ........................................................................................................................................................... 9

INDUSTRY CLUSTERS ................................................................................................................................................................ 11

EDUCATION LEVELS .................................................................................................................................................................. 11

GROSS DOMESTIC PRODUCT .................................................................................................................................................... 12

FAQ .......................................................................................................................................................................................... 13

http://www.chmuraecon.com/jobseq



3

Demographic Profile In 2016, the population in Loudoun County, Virginia was 385,945. Between 2006 and 2016, the region’s population

grew at an annual average rate of 3.7%.

The region has a civilian labor force of 194,311 with a participation rate of 75.7%. Of individuals 25 to 64 in Loudoun

County, Virginia, 60.5% have a bachelor’s degree or higher which compares with 31.3% in the nation.

The median household income in Loudoun County, Virginia is $123,453 and the median house value is $452,300.

Summary1

Percent Value

Loudoun

County,

Virginia

District of

Columbia USA

Loudoun

County,

Virginia

District of

Columbia USA

Demographics

Population6 — — — 385,945 681,170 323,127,513

Population Annual Average Growth6 3.7% 1.8% 0.8% 11,875 11,049 2,474,760

Median Age2,4 — — — 34.8 33.8 37.2

Under 18 Years4 30.6% 16.8% 24.0% 95,434 100,815 74,181,467

18 to 24 Years4 5.9% 14.5% 9.9% 18,328 87,015 30,672,088

25 to 34 Years4 13.9% 20.7% 13.3% 43,483 124,745 41,063,948

35 to 44 Years4 18.9% 13.4% 13.3% 58,953 80,659 41,070,606

45 to 54 Years4 15.6% 12.6% 14.6% 48,852 75,703 45,006,716

55 to 64 Years4 8.6% 10.6% 11.8% 26,836 63,977 36,482,729

65 to 74 Years4 3.9% 6.1% 7.0% 12,241 36,969 21,713,429

75 Years, and Over4 2.6% 5.3% 6.0% 8,184 31,840 18,554,555

Race: White4 68.7% 38.5% 72.4% 214,471 231,471 223,553,265

Race: Black or African American4 7.3% 50.7% 12.6% 22,710 305,125 38,929,319

Race: American Indian and Alaska Native4 0.3% 0.3% 0.9% 914 2,079 2,932,248

Race: Asian4 14.7% 3.5% 4.8% 46,033 21,056 14,674,252

Race: Native Hawaiian and Other Pacific Islander4 0.1% 0.1% 0.2% 184 302 540,013

Race: Some Other Race4 4.9% 4.1% 6.2% 15,424 24,374 19,107,368

Race: Two or More Races4 4.0% 2.9% 2.9% 12,575 17,316 9,009,073

Hispanic or Latino (of any race)4 12.4% 9.1% 16.3% 38,576 54,749 50,477,594

Economic

Labor Force Participation Rate and Size (civilian

population 16 years and over) 75.7% 68.3% 63.3% 194,311 373,626 158,897,824

Armed Forces Labor Force 0.5% 0.6% 0.4% 1,170 3,446 1,015,464

Veterans, Age 18-64 7.1% 3.6% 5.5% 15,609 16,613 10,750,884

Median Household Income2 — — — $123,453 $70,848 $53,889

Per Capita Income — — — $47,495 $47,675 $28,930

Poverty Level (of all people) 4.0% 18.0% 15.5% 14,047 110,365 47,749,043

Households Receiving Food Stamps 2.9% 14.9% 13.2% 3,273 40,686 15,399,651




4

Summary1

Percent Value

Loudoun

County,

Virginia

District of

Columbia USA

Loudoun

County,

Virginia

District of

Columbia USA

Mean Commute Time (minutes) — — — 33.0 29.7 25.9

Commute via Public Transportation 3.5% 37.4% 5.1% 6,351 125,413 7,362,038

Union Membership3 5.0% 9.4% 10.7% — — —

Educational Attainment, Age 25-64

No High School Diploma 5.6% 9.0% 11.8% 11,070 34,405 19,736,243

High School Graduate 12.6% 16.9% 26.4% 24,821 64,388 43,982,863

Some College, No Degree 15.1% 13.4% 21.7% 29,637 50,941 36,187,232

Associate's Degree 6.2% 3.1% 8.8% 12,106 11,920 14,742,654

Bachelor's Degree 36.4% 25.1% 19.9% 71,585 95,648 33,245,950

Postgraduate Degree 24.0% 32.4% 11.4% 47,221 123,351 18,952,103

Housing

Total Housing Units — — — 118,919 303,312 133,351,840

Median House Value (of owner-occupied units)2 — — — $452,300 $475,800 $178,600

Homeowner Vacancy 1.0% 1.8% 1.9% 880 2,138 1,492,691

Rental Vacancy 4.0% 5.5% 6.4% 1,114 9,549 2,949,366

Renter-Occupied Housing Units (% of Occupied Units) 22.9% 58.8% 36.1% 25,971 160,640 42,214,214

Occupied Housing Units with No Vehicle Available (% of

Occupied Units) 2.5% 36.4% 9.1% 2,857 99,554 10,628,474

Social

Enrolled in Grade 12 (% of total population) 1.7% 1.0% 1.4% 5,994 6,773 4,451,334

Disconnected Youth5 0.8% 4.3% 3.0% 138 1,449 518,859

Children in Single Parent Families (% of all children) 15.0% 56.0% 34.8% 15,279 58,080 24,408,909

With a Disability, Age 18-64 4.0% 9.1% 10.3% 8,764 41,560 19,985,588

With a Disability, Age 18-64, Labor Force Participation

Rate and Size 58.8% 41.8% 41.0% 5,151 17,354 8,185,456

Foreign Born 23.3% 14.1% 13.2% 81,766 91,588 41,717,420

Speak English Less Than Very Well (population 5 yrs and

over) 9.9% 5.4% 8.6% 32,086 32,636 25,410,756

Source: JobsEQ® 1. ACS 2011-2015, unless noted otherwise 2. Median values for certain aggregate regions (such as MSAs) may be estimated as the weighted averages of the median values from the composing counties. 3. 2016; Current Population Survey, unionstats.com, and Chmura; county- and zip-level data are best estimates based upon industry-, MSA-, and state-level data 4. Census 2010 5. Disconnected Youth are 16-19 year olds who are (1) not in school, (2) not high school graduates, and (3) either unemployed or not in the labor force. 6. Census 2016, annual average growth rate since 2006





5

Employment Trends

As of 2017Q2, total employment for Loudoun County, Virginia was 173,245 (based on a four-quarter moving

average). Over the year ending 2017Q2, employment increased 0.3% in the region.

Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are updated through 2016Q4

with preliminary estimates updated to 2017Q2.

Unemployment Rate

The seasonally adjusted unemployment rate for Loudoun County, Virginia was 3.1% as of August 2017. The regional

unemployment rate was lower than the national rate of 4.5%. One year earlier, in August 2016, the unemployment

rate in Loudoun County, Virginia was 3.3%.

Unemployment rate data are from the Local Area Unemployment Statistics, provided by the Bureau of Labor Statistics and updated through August 2017.




6

Wage Trends

The average worker in Loudoun County, Virginia earned annual wages of $60,768 as of 2017Q2. Average annual

wages per worker increased 1.7% in the region during the preceding four quarters. For comparison purposes, annual

average wages were $53,284 in the nation as of 2017Q2.

Annual average wages per worker data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are

updated through 2016Q4 with preliminary estimates updated to 2017Q2.

Cost of Living Index The Cost of Living Index estimates the relative price levels for consumer goods and services. When applied to wages

and salaries, the result is a measure of relative purchasing power. The cost of living is 50.7% higher in Loudoun

County, Virginia than the U.S. average.

Cost of Living Information

Annual Average Salary Cost of Living Index

(Base US) US Purchasing Power

Loudoun County, Virginia $60,768 150.7 $40,333

District of Columbia $89,460 152.4 $58,701

USA $53,284 100.0 $53,284

Source: JobsEQ® Data as of 2017Q2 Cost of Living per C2ER, data as of 2017q1, imputed by Chmura where necessary.





7

Industry Snapshot

The largest sector in Loudoun County, Virginia is Professional, Scientific, and Technical Services, employing 21,668

workers. The next-largest sectors in the region are Retail Trade (18,681 workers) and Construction (16,745). High

location quotients (LQs) indicate sectors in which a region has high concentrations of employment compared to the

national average. The sectors with the largest LQs in the region are Information (LQ = 2.12), Transportation and

Warehousing (1.96), and Professional, Scientific, and Technical Services (1.90).

Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are updated through 2016Q4

with preliminary estimates updated to 2017Q2.

Sectors in Loudoun County, Virginia with the highest average wages per worker are Information ($135,104),

Management of Companies and Enterprises ($118,180), and Finance and Insurance ($104,883). Regional sectors

with the best job growth (or most moderate job losses) over the last 5 years are Accommodation and Food Services

(+3,713 jobs), Professional, Scientific, and Technical Services (+2,570), and Educational Services (+2,541).

Over the next 10 years, employment in Loudoun County, Virginia is projected to expand by 37,981 jobs. The fastest

growing sector in the region is expected to be Health Care and Social Assistance with a +3.3% year-over-year rate of

growth. The strongest forecast by number of jobs over this period is expected for Professional, Scientific, and

Technical Services (+7,017 jobs), Health Care and Social Assistance (+4,954), and Construction (+4,853).




8

Current Historical Forecast

Four Quarters Ending with

2017q2

Total

Change

over the

Last 5

Years

Average Annual % Change in

Employment 2012q2-2017q2 Over the Next 10 Years

NAICS Industry Empl

Avg.

Annual

Wages

Location

Quotient Empl

Loudoun

County,

Virginia

District of

Columbia USA

Total

Approx

Repl

Demand

Total

Growth

Demand

Avg.

Annual

Growth

Percent

11 Agriculture, Forestry,

Fishing and Hunting 1,018 $19,129 0.41 -5 -0.1% -6.6% 0.8% 377 114 1.1%

21 Mining, Quarrying, and

Oil and Gas Extraction 155 $85,176 0.22 -4 -0.5% -12.4% -4.9% 40 21 1.3%

22 Utilities 665 $71,426 0.72 277 11.3% 1.4% 0.1% 188 154 2.1%

23 Construction 16,745 $64,375 1.75 2,470 3.2% 3.1% 3.2% 3,706 4,853 2.6%

31 Manufacturing 7,253 $92,385 0.51 2,365 8.2% -1.1% 0.8% 1,712 269 0.4%

42 Wholesale Trade 3,305 $76,249 0.49 -15 -0.1% 0.4% 0.9% 791 625 1.7%

44 Retail Trade 18,681 $29,719 1.00 998 1.1% 4.0% 1.3% 6,249 3,350 1.7%

48 Transportation and

Warehousing 14,232 $52,609 1.96 1,189 1.8% 2.7% 2.7% 3,940 1,997 1.3%

51 Information 7,325 $135,104 2.12 -278 -0.7% -1.2% 0.8% 1,862 876 1.1%

52 Finance and Insurance 3,658 $104,883 0.53 605 3.7% -0.4% 1.1% 956 884 2.2%

53 Real Estate and Rental

and Leasing 2,415 $59,098 0.82 136 1.2% 3.1% 1.9% 581 425 1.6%

54 Professional, Scientific,

and Technical Services 21,668 $98,786 1.90 2,570 2.6% 1.8% 2.4% 5,113 7,017 2.8%

55 Management of

Companies and

Enterprises 1,293 $118,180 0.51 91 1.5% 4.8% 2.9% 297 241 1.7%

56

Administrative and

Support and Waste

Management and

Remediation Services

11,145 $41,911 0.99 2,090 4.2% 1.1% 2.6% 2,741 2,451 2.0%

61 Educational Services 15,619 $47,036 1.09 2,541 3.6% 3.4% 0.7% 3,549 3,044 1.8%

62 Health Care and Social

Assistance 13,067 $51,595 0.53 1,754 2.9% 1.2% 2.5% 2,923 4,954 3.3%

71 Arts, Entertainment, and

Recreation 4,575 $69,453 1.33 1,197 6.3% 2.7% 2.3% 1,529 1,019 2.0%

72 Accommodation and

Food Services 16,024 $23,733 1.03 3,713 5.4% 3.0% 3.0% 6,104 3,194 1.8%

81 Other Services (except

Public Administration) 8,140 $38,399 1.06 1,283 3.5% 1.3% -0.2% 2,226 1,652 1.9%

92 Public Administration 5,858 $72,896 0.71 -528 -1.7% -0.4% 0.1% 1,500 752 1.2%

99 Unclassified 402 $61,921 1.15 401 213.2% 2.5% 13.2% 107 88 2.0%

Total - All Industries 173,245 $60,768 1.00 22,850 2.9% 1.3% 1.7% 46,265 37,981 2.0%

Source: JobsEQ® Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are updated through 2016Q4

with preliminary estimates updated to 2017Q2. Forecast employment growth uses national projections adapted for regional growth patterns.





9

Occupation Snapshot

The largest major occupation group in Loudoun County, Virginia is Office and Administrative Support Occupations,

employing 22,649 workers. The next-largest occupation groups in the region are Sales and Related Occupations

(17,847 workers) and Food Preparation and Serving Related Occupations (15,001). High location quotients (LQs)

indicate occupation groups in which a region has high concentrations of employment compared to the national

average. The major groups with the largest LQs in the region are Computer and Mathematical Occupations (LQ =

2.31), Construction and Extraction Occupations (1.46), and Building and Grounds Cleaning and Maintenance

Occupations (1.30).

Occupation groups in Loudoun County, Virginia with the highest average wages per worker are Management

Occupations ($132,700), Legal Occupations ($121,000), and Computer and Mathematical Occupations ($94,400).

The unemployment rate in the region varied among the major groups from 0.8% among Legal Occupations to 6.8%

among Food Preparation and Serving Related Occupations.

Over the next 10 years, the fastest growing occupation group in Loudoun County, Virginia is expected to be

Healthcare Support Occupations with a +3.6% year-over-year rate of growth. The strongest forecast by number of

jobs over this period is expected for Computer and Mathematical Occupations (+3,524 jobs) and Office and

Administrative Support Occupations (+3,511). Over the same period, the highest replacement demand (occupation

demand due to retirements and workers moving from one occupation to another) is expected in Food Preparation

and Serving Related Occupations (6,373 jobs) and Sales and Related Occupations (6,321).

Occupation Snapshot in Loudoun County, Virginia


Four Quarters Ending

with 2017q2 2017q2

Total

Change

over the

Last 5

Years

Avg Ann % Chg in Empl

2012q2-2017q2 Over the Next 10 Years

SOC Title Empl

Avg.

Annual

Wages1

LQ Unempl Unempl

Rate Empl

Loudoun

County,

Virginia

District

of

Columbi

a

USA

Current

Online

Job Ads2

Total

Repl

Demand

Total

Growth

Demand

Avg.

Annual

Growth

Percent

11-0000

Management Occupations 12,258 $132,700 1.17 200 1.5% 1,519 2.7% 1.1% 1.5% 716 4,358 2,745 2.0%

13-0000

Business and Financial Operations Occupations

10,124 $82,200 1.14 449 3.0% 1,334 2.9% 0.7% 1.7% 503 2,335 2,584 2.3%

15-0000

Computer and Mathematical Occupations

11,611 $94,400 2.31 347 2.4% 1,170 2.1% 1.3% 2.5% 1,790 1,940 3,524 2.7%

17-0000

Architecture and Engineering Occupations

3,223 $90,700 1.10 99 2.5% 387 2.6% -0.2% 1.0% 146 869 564 1.6%

19-0000

Life, Physical, and Social Science Occupations

1,121 $84,500 0.77 65 3.1% 118 2.2% 0.9% 1.2% 55 359 274 2.2%

21-0000

Community and Social Service Occupations 1,652 $54,700 0.60 24 1.0% 111 1.4% 2.5% 2.0% 130 400 412 2.3%

23-0000 Legal Occupations 1,176 $121,000 0.82 16 0.8% 33 0.6% -0.7% 0.4% 27 253 256 2.0%

25-0000

Education, Training, and Library Occupations

11,119 $58,500 1.14 278 2.3% 1,709 3.4% 2.7% 0.8% 386 2,661 2,344 1.9%




10

Occupation Snapshot in Loudoun County, Virginia


Four Quarters Ending

with 2017q2 2017q2

Total

Change

over the

Last 5

Years

Avg Ann % Chg in Empl

2012q2-2017q2 Over the Next 10 Years

SOC Title Empl

Avg.

Annual

Wages1

LQ Unempl Unempl

Rate Empl

Loudoun

County,

Virginia

District

of

Columbi

a

USA

Current

Online

Job Ads2

Total

Repl

Demand

Total

Growth

Demand

Avg.

Annual

Growth

Percent

27-0000

Arts, Design, Entertainment, Sports, and Media Occupations

3,488 $59,800 1.12 134 3.3% 451 2.8% 1.3% 1.1% 184 1,235 681 1.8%

29-0000

Healthcare Practitioners and Technical Occupations

5,306 $83,700 0.54 85 1.1% 782 3.2% 0.5% 1.7% 386 1,324 1,817 3.0%

31-0000

Healthcare Support Occupations 2,664 $33,700 0.55 119 3.8% 518 4.4% 1.7% 2.2% 200 667 1,137 3.6%

33-0000

Protective Service Occupations 3,881 $46,000 1.04 141 3.4% 701 4.1% 1.2% 1.0% 145 847 736 1.8%

35-0000

Food Preparation and Serving Related Occupations

15,001 $25,500 1.01 943 6.8% 3,434 5.3% 3.6% 2.9% 882 6,373 3,063 1.9%

37-0000

Building and Grounds Cleaning and Maintenance Occupations

7,977 $29,400 1.30 343 5.0% 1,138 3.1% 0.6% 1.0% 199 1,974 1,660 1.9%

39-0000

Personal Care and Service Occupations 6,523 $29,600 0.97 252 4.0% 1,242 4.3% 2.0% 2.1% 403 2,184 1,709 2.4%

41-0000

Sales and Related Occupations 17,847 $43,200 1.00 750 4.3% 1,353 1.6% 2.3% 1.3% 1,808 6,321 3,282 1.7%

43-0000

Office and Administrative Support Occupations

22,649 $40,500 0.88 879 3.7% 2,557 2.4% 1.1% 1.7% 1,078 5,589 3,511 1.5%

45-0000

Farming, Fishing, and Forestry Occupations 375 $34,100 0.33 15 5.4% 22 1.2% 1.1% 1.3% 6 189 42 1.1%

47-0000

Construction and Extraction Occupations 11,269 $48,400 1.46 475 5.7% 1,437 2.8% 2.5% 2.4% 179 2,240 3,230 2.6%

49-0000

Installation, Maintenance, and Repair Occupations

7,573 $53,600 1.15 227 3.7% 727 2.0% 0.9% 1.6% 429 1,931 1,659 2.0%

51-0000

Production Occupations 4,412 $40,500 0.42 181 4.8% 1,045 5.6% 0.4% 1.2% 117 1,211 579 1.2%

53-0000

Transportation and Material Moving Occupations

11,998 $44,200 1.03 441 4.8% 1,061 1.9% 2.1% 2.3% 401 3,569 2,173 1.7%

00-0000 Total - All Occupations 173,245 $54,400 1.00 n/a n/a 22,850 2.9% 1.3% 1.7% 10,189 48,828 37,981 2.0%

Source: JobsEQ® Data as of 2017Q2 unless noted otherwise Note: Figures may not sum due to rounding. 1. Occupation wages are as of 2016 and should be taken as the average for all Covered Employment 2. Data represent found online ads active within the last thirty days in any zip code intersecting or within the selected region; data represents a sampling rather than the complete universe of

postings. Occupation employment data are estimated via industry employment data and the estimated industry/occupation mix. Industry employment data are derived from the Quarterly Census of

Employment and Wages, provided by the Bureau of Labor Statistics and currently updated through 2016Q4, imputed where necessary with preliminary estimates updated to 2017Q2. Wages by

occupation are as of 2016 provided by the BLS and imputed where necessary. Forecast employment growth uses national projections from the Bureau of Labor Statistics adapted for regional

growth patterns.





11

Industry Clusters A cluster is a geographic concentration of interrelated industries or occupations. The industry cluster in Loudoun

County, Virginia with the highest relative concentration is Electric/Electronics Mfg. with a location quotient of 2.22.

This cluster employs 4,049 workers in the region with an average wage of $126,483. Employment in the

Electric/Electronics Mfg. cluster is projected to contract in the region about 0.2% per year over the next ten years.

Location quotient and average wage data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics, imputed where necessary, and updated

through 2016Q4 with preliminary estimates updated to 2017Q2. Forecast employment growth uses national projections from the Bureau of Labor Statistics adapted for regional growth patterns.

Education Levels

Expected growth rates for occupations vary by the education and training required. While all employment in Loudoun

County, Virginia is projected to grow 2.0% over the next ten years, occupations typically requiring a postgraduate

degree are expected to grow 2.5% per year, those requiring a bachelor’s degree are forecast to grow 2.2% per year,

and occupations typically needing a 2-year degree or certificate are expected to grow 2.3% per year.

Employment by occupation data are estimates are as of 2017Q2. Education levels of occupations are based on BLS assignments. Forecast employment growth uses national projections from the

Bureau of Labor Statistics adapted for regional growth patterns.




12

Gross Domestic Product

Gross Domestic Product (GDP) is the total value of goods and services produced by a region. In 2016, nominal GDP

in Loudoun County, Virginia expanded 11.5%. This follows growth of 4.5% in 2015. As of 2016, total GDP in Loudoun

County, Virginia was $23,979,338,000.

Gross Domestic Product data are provided by the Bureau of Economic Analysis, imputed by Chmura where necessary, updated through 2016.

Of the sectors in Loudoun County, Virginia, Professional, Scientific, and Technical Services contributed the largest

portion of GDP in 2016, $3,033,463,000 The next-largest contributions came from Real Estate and Rental and

Leasing ($2,722,380,000); Information ($2,460,472,000); and Finance and Insurance ($2,306,436,000).

Gross Domestic Product data are provided by the Bureau of Economic Analysis, imputed by Chmura where necessary, updated through 2016.




13

FAQ What is a location quotient?

A location quotient (LQ) is a measurement of concentration in comparison to the nation. An LQ of 1.00 indicates a region has

the same concentration of an industry (or occupation) as the nation. An LQ of 2.00 would mean the region has twice the

expected employment compared to the nation and an LQ of 0.50 would mean the region has half the expected employment

in comparison to the nation.

What is replacement demand?

Replacement demand is the number of jobs required due to replacements—retirements and turnover resulting from workers

moving from one occupation into another. Note that replacement demand does not include all turnover—it does not include

when workers stay in the same occupation but switch employers. The replacement demand shown in this report may also be

understated; thus, it can be taken to be a minimum measure of the number of workers who will need to be trained for the

occupation due to replacements. The total projected demand for an occupation is the sum of the replacement demand and

the growth demand (which is the increase or decrease of jobs in an occupation expected due to expansion or contraction of

the overall number of jobs in that occupation).

What is a cluster?

A cluster is a geographic concentration of interrelated industries or occupations. If a regional cluster has a location quotient

of 1.25 or greater, the region is considered to possess a competitive advantage in that cluster.

What is the difference between industry wages and occupation wages?

Industry wages and occupation wages are estimated via separate data sets, often the time periods being reported do not

align, and wages are defined slightly differently in the two systems (for example, certain bonuses are included in the industry

wages but not the occupation wages). It is therefore common that estimates of the average industry wages and average

occupation wages in a region do not match exactly.

What is NAICS?

The North American Industry Classification System (NAICS) is used to classify business establishments according to the

type of economic activity. The NAICS Code comprises six levels, from the “all industry” level to the 6-digit level. The first two

digits define the top level category, known as the “sector,” which is the level examined in this report.

What is SOC?

The Standard Occupational Classification system (SOC) is used to classify workers into occupational categories. All workers

are classified into one of over 820 occupations according to their occupational definition. To facilitate classification,

occupations are combined to form 23 major groups, 96 minor groups, and 449 occupation groups. Each occupation group

includes detailed occupations requiring similar job duties, skills, education, or experience.

About This Report

This report and all data herein were produced by JobsEQ®, a product of Chmura Economics & Analytics. The information contained herein was obtained from sources we believe to be reliable.

However, we cannot guarantee its accuracy and completeness.



economic overview loudoun county, virginia · 2017-10-23 · in 2016, the population in loudoun...

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