The new calculator generates location quotients, a measure that is familiar to regional labor economists as a way to readily compare the industrial activity levels among different areas of the country. In general, location quotients are ratios that compare the concentration of a resource or activity, such as employment, in a defined area to that of a larger area or base. For example, location quotients can be used to compare State employment by industry to that of the nation; or employment in a city, county, metropolitan statistical area (MSA), or other defined geographic sub-area to that in the State. The new BLS location quotient calculator uses a timely data source that is especially rich in comprehensive industry and area detail – BLS's Quarterly Census of Employment and Wages (QCEW).
Keywords: Economic Development
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