This indicator compares the percentages of wage and salary non-farm jobs by economic sector to total employment.
This indicator is part of Diverse economy.
This indicator compares the percentages of wage and salary non-agricultural jobs by economic sector to total employment in 2003 and 2007 for the Albuquerque Metropolitan Statistical Area (MSA) and the United States (US) as a whole. The data are based on employer information and therefore do not include self-employed or military employment. Jobs are classified using the North American Industrial Classification System (NAICS). The major categories are: natural resources, mining and construction; manufacturing; trade, transportation, warehousing and utilities; information; financial activities; professional scientific and technical services; educational and health services; leisure and hospitality; other services; and government. In the Albuquerque MSA, natural resources, mining, and construction is, for all practical purposes, construction.
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Why is this indicator relevant?
An economy that provides diverse job opportunities is more stable over time than one that is heavily dependent on only a few sectors. Employment by sector is a measure of performance of each sector in the economy. It is a good indicator of the overall health of the economy.
Current Employment Statistics (CES) survey, U. S. Department of Labor, Bureau of Labor Statistics
What can we tell from the data?
- In the Albuquerque MSA, employment by sector has kept the same general characteristics from 2003 to 2007, although construction changed the most, increasing 1.1% during the period. It is doubtful that increases in construction will continue into 2008 and beyond.
- Manufacturing employment in Albuquerque declined in its share and continues to lag significantly behind the manufacturing share of the US economy as a whole.
- Government employment plays a more important role in the Albuquerque economy than in the national economy, but this sector has not changed its relative share of all employment.
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