Question: The table below summarizes employment in different NAICS categories, based on the Quarterly Census of Employment and Wages data collected by the Bureau of Labor

The table below summarizes employment in different NAICS categories, based on the Quarterly Census of Employment and Wages data collected by the Bureau of Labor Statistics.

Industry U.S. TOTAL New York County, NY
Total, all industries 108,184,795 1,893,321
Natural resources and mining 1,890,359 132
Construction 5,473,045 30,366
Manufacturing 11,701,497 25,929
Trade, transportation, and utilities 24,817,987 243,042
Information 2,674,852 137,117
Financial activities 7,416,409 355,848
Professional and business services 17,298,233 469,837
Education and health services 19,035,334 299,256
Leisure and hospitality 13,294,603 238,025
Other services 4,408,735 88,563
Unclassified 173,741 5,206

Calculate the location quotient for manufacturing, financial activities, and education and health services (Round all answers three (3) decimal places):

(Reminder: The first two inputs represent a percentage of an industry in a specific market or the U.S., while the Location Quotient (LQ) is a number = < > 1)

Industry Percentage(%) New York Percentage(%) U.S. Location Quotient (LQ)
Manufacturing
Financial activities
Education and health services

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!