What does this measure?
Growth year-over-year by Compensation, Employment Total, Output, and Value Addition by industry sectors for Erie County for years 2011 through 2017.
Why is this important?
To analyze the 'health' of an industry by how it's trending in pay for its employees, how much talent its amassing or losing, its performance financially, and what it's contributing to the County's tax revenues.
How is Erie County doing?
Across all vairables Arts, Entertainment, Recreation, Accommodation and Food Services saw an increase from 2017 to 2018. There is growth overall in the Finance and Insurance sector, and Manufacturing among the employment, compensation, and GRP variables. Other sectors show growth in one or some variables, but it is important to analyze growth trends relative to the variable, as growth in output may show strong demand, but stagnant employment or compensation reveals a negative trend for the economy overall. Among the declining sectors, the Information sector in Erie County has shown an average negative growth in output, compensation, and value in the last year.
EVS analyzes the data in each topic category using indicators, which report a targeted and digestible number, rate, or amount to represent Erie County as a whole. While this does not cover every aspect of the topic, it assists in establishing Erie's performance relative to the prior year(s). The indicator for the Business Industry Growth topic is:
This indicator measures the industry sector with the largest employment growth for the latest data year in Erie County, as a percentage. New establishments contribute to job and economic growth, and demonstrate a culture of innovation and entrepreneurship in the region. The Highest Growth Industry from 2017 to 2018 was Food Manufacturing, with a reported increase in employment of 13.7% within one year.
How does Erie compare to its Peers?
About this Data
Analysis performed by Data Center on data from Emsi, 2019. Variable definitions included in the infographic.
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