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Economic Conditions

One of the most important factors to examine when looking at communities is their economic condition. This can be a broad subject matter. Fortunately, we have identified some of the most important indicators for understanding and projecting a community's economic health.

These numbers are often shown on community marketing pages and reports all around the world. Having a better understanding of the stories they tell gives us a better understanding of the message behind the numbers.

  • Employment- indicates an economy's ability to create jobs
  • Unemployment- indicates an economy's ability to fill vacant positions and create new work opportunities
  • Wages- indicates quality of jobs in the economy
  • Area Income- indicates how much money is circulating in the economy
  • Industry Output- indicates the productivity of area businesses
  • New Businesses- indicates the area's desirability as a place to open and operate a business
  • Largest Employers- indicates dominant industries, workforce skills, and cluster or diversification opportunities
For a better understanding of how these numbers affect decision making and the national economy, I highly recommend reading a copy of the Economic Report of the President. Thought it covers a broad view, it shows how they determine financial choices and resource allocation. 


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