The opinions expressed are solely those of the presenters and do not reflect the opinions of the Federal Reserve Bank of Dallas or the Federal Reserve System. County Business Patterns (CBP) examines local economic data by industry. ◦ Number of firms ◦ Number of paid employees ◦ Payroll Uses North American Industry Classification System (NAICS) Excludes farming & railroads, along with household jobs www.census.gov/econ/cbp/index.html Industry No. of Firms Retail trade 76,787 Professional, scientific & technical services 59,757 Health care & social assistance 59,193 Other services (except public administration) 48,097 Accommodation & food services 46,045 Industry Paid Employees Health care & social assistance 1,280,332 Retail trade 1,127,032 Accommodation & food services 908,665 Waste management & remediation services 830,284 Manufacturing www.bls.gov/iag/home.htm 730,551 Industry Annual Payroll ($1,000) Health care & social assistance $51,168,478 Professional, scientific & technical services $40,436,455 Manufacturing $38,849,364 Finance & insurance $28,870,504 Management of companies & enterprises $28,811,285 Wholesale trade $28,125,856 The CBP data looks at how big various sectors are in Texas. Concentration is a different way of measuring impact. Geographically concentrated groups of companies related by ◦ the technologies they use. ◦ the markets they serve. ◦ the goods and services they produce. ◦ the labor skills they require. LQ is the Ratio of Local Employment Concentration to National Concentration within a sector. Numbers greater than 1 indicate a greater concentration than the nation as a whole. Numbers less than 1 indicate a lesser concentration than the nation as a whole. LQ (local employment in industry ÷ US employment in industry) = -------------------------------------------------(total local employment ÷ total US employment) Industry Location Quotient 1. Oil & gas extraction 5.9 2. Support activities for mining 5.6 3. Pipeline transportation 4.33 4. Funds, trusts & other financial vehicles 2.78 5. Petroleum & coal products manufacturing 2.78 Remember: Greater than 1 indicates a greater concentration than the nation. Less than 1 indicates a lesser concentration than the nation. Industry Location Quotient 6. Air transportation 1.67 7. Leather & allied product manufacturing 1.54 8. Support activities for transportation 1.51 9. Information & data processing services 1.42 10. Fishing, hunting & trapping 1.32 Industry Location Quotient 11. Computer & elect. product manufacturing 1.24 12. Wholesale trade, durable goods 1.21 13. Broadcasting & telecommunications 1.20 14. Management of companies & enterprises 1.18 15. Nonmetallic mineral product manufacturing 1.15 Energy Services Manufacturing Computer & electronic product manufacturing 4.09 Publishing industries 2.01 Information & data processing services 1.78 Wholesale trade, durable goods 1.63 Lessors of nonfinancial intangible assets 1.57 Remember: Greater than 1 indicates a greater concentration than the nation. Less than 1 indicates a lesser concentration than the nation. Oil & gas extraction 3.05 Air transportation 2.78 Information & data processing services 2.45 Computer & electronic product manufacturing 2.11 Funds, trusts & other financial vehicles 1.82 Pipeline transportation 10.22 Oil & gas extraction 8.44 Funds, trusts & other financial vehicles 8.29 Petroleum & coal products manufacturing 5.08 Support activities for mining 5.07 Leather & allied product manufacturing 7.86 Information & data processing services 2.20 Management of companies & enterprises 1.79 Insurance carriers & related activities 1.65 Pipeline transportation 1.53 Advanced Technology & Manufacturing Aerospace, Aviation & Defense Biotechnology & Life Sciences Information & Computer Technology Petroleum Refining & Chemical Products Energy www.texaswideopenforbusiness.com/industries/index.php Energy ??? Service Manufacturing $250,662 $264,709 $206,992 $162,995 2009 Value 2010 Value 2011 Value 2012 Value Mexico Canada China Brazil Netherlands South Korea Singapore Colombia Japan Belgium Energy Exports Service Manufacturing For data about the regional and national economy, see www.dallasfed.org For information about key Texas industries, see www.texaswideopenforbusiness.com/industries/index.php For industry profiles, see http://governor.state.tx.us/ecodev/business_research/industry_profiles/%20 To learn about industry classifications, see www.bls.gov/iag/home.htm For export data, see www.census.gov/foreign-trade/statistics/state/data/tx.html