Visualize opportunities for economic development in the City of Philadelphia. The city wants to be able to focus its business attraction and retention and workforce development efforts in industries that will remain competitive in the future.<\/p>\n
There are several things which have been useful in identifying economic opportunities:<\/p>\n
- \n
- Sectors in which Philadelphia has a competitive advantage relative to the region, state, or nation<\/li>\n
- Emerging sectors that are growing at a faster rate locally than in the region, state, or nation<\/li>\n
- Subsectors that are driving growth over time within a particular sector<\/li>\n<\/ul>\n
Data<\/b><\/h3>\n
The Bureau of Labor Statistics provides data about employment and businesses at the County level using NAICS (North American Industry Classification System) codes. You can learn more about NAICS, and get their definitions at the US\u00a0Census Site<\/a>.<\/p>\n
- \n
- Find 2012 data on the Bureau of Labor Statistics FTP server<\/a>.\u00a0For comparison data, find other years here<\/a>.\n
- \n
- Specifically, select 2012.annual.by_area.zip<\/a> and use it as the Final Year. Select your own Base Year.<\/li>\n<\/ul>\n<\/li>\n
- Search for Philadelphia County, Pennsylvania<\/li>\n<\/ul>\n
Useful comparisons:<\/p>\n
- \n
- U.S. Total<\/li>\n
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA<\/li>\n
- Pennsylvania — Statewide<\/li>\n
- U.S. Metropolitan Statistical Areas (Combined)<\/li>\n<\/ul>\n
Example<\/b><\/h3>\n
Bubble-Chart to Display Four Distinct Variables that Can Compare Philadelphia with the Country, the State, and the Region<\/em><\/strong><\/p>\n
A \u201clocation quotient\u201d measures how specialized<\/i> a local economy is in a particular sector. It is calculated by dividing the share of employment in a particular sector in the local economy by the share in that sector in the national economy. The local economy is specialized in that sector if that number is greater than one. It is the y-axis of the depicted graph.<\/p>\n
A \u201cshift-term\u201d measures the competitiveness<\/i> of that sector, or the local rate of change relative to the national rate of change. It is the x-axis of the depicted graph. Thus, a sector with a positive \u201cShift Term\u201d, which would lie on the rightward quadrants of the graph, would be growing at a faster rate, or shrinking at a slower rate, than that sector nationally. The formula for calculating the shift-term can be found below:<\/p>\n
(eit+n\/eit) – (Eit+n\/Eit) where:<\/p>\n
- \n
- ei = total employment of a particular sector in the local economy<\/li>\n
- Ei = total employment of a particular sector in the national economy<\/li>\n
- t = year one<\/li>\n
- t+n = final year<\/li>\n<\/ul>\n
- Search for Philadelphia County, Pennsylvania<\/li>\n<\/ul>\n
- Specifically, select 2012.annual.by_area.zip<\/a> and use it as the Final Year. Select your own Base Year.<\/li>\n<\/ul>\n<\/li>\n
- Find 2012 data on the Bureau of Labor Statistics FTP server<\/a>.\u00a0For comparison data, find other years here<\/a>.\n
![\"PhillyQuad\"](\"http:\/\/ibit.temple.edu\/analytics\/files\/2013\/10\/PhillyQuad-300x268.png\")
<\/a><\/p>\n![\"PhillyBubble\"](\"http:\/\/ibit.temple.edu\/analytics\/files\/2013\/10\/PhillyBubble-150x150.png\")
<\/a><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"