Economy & Industry

Economy & Industry

Job growth, wages, competitiveness and specializations



Please Note
This data should be used to supplement local knowledge about your region. Occasional errors in reporting and confidentiality concerns may produce inconsistencies in the data for some industries.

Definitions & data sources

Industry
Grouping of businesses based on their primary business activity. Industry classifications used in this report follow the North American Classification System (NAICS), three-digit level. For more information about NAICS classifications see www.naics.com/search.

Income Generation
For this assessment, income generation is an industry’s ability to create wealth by capturing more wages per worker, when compared to other regions across the country. Industries that excel in income generation can pay higher wages, accumulating greater wealth for the region. Figures above one indicate above average income generating power; the greater the number, the greater the generating power relative to other regions across the country.

Average Industry Wage
The annual average wage per worker in an industry, reported in 2013 US dollars.

The Location Quotient (LQ)
A number that measures the relative concentration of an industry’s employment or total wages in the region, as compared to the nation.  Figures above one indicate an above average concentration, or a regional specialization; the greater the number, the greater the specialization.

Growing or Stable Industries
Industries that have gained employment or lost no more than 1% from 2009 to 2013

Declining Industries
Industries that lost more than 1% of their employment between 2009 and 2013.

Data Source: New York State Department of Labor