Using the data provided, compute the location quotient for each industry in King County, Washington
HW:4 FIN437 REAL ESTATE DEVELOPMENT
| King County, WA | United States | |
| 2016 | 2016 | |
| Agriculture, forestry, fishing and hunting | 3,055 | 916,300 |
| Mining, quarrying, and oil and gas extraction | 2,476 | 1,416,500 |
| Utilities | 1,557 | 605,300 |
| Construction | 84,999 | 10,096,300 |
| Manufacturing | 111,454 | 13,103,700 |
| Wholesale trade | 72,408 | 6,935,800 |
| Retail trade | 161,916 | 19,390,100 |
| Transportation and warehousing | 70,436 | 7,169,400 |
| Information | 102,763 | 3,357,900 |
| Finance and insurance | 70,930 | 9,871,600 |
| Real estate and rental and leasing | 86,959 | 8,983,500 |
| Professional, scientific, and technical services | 180,099 | 13,712,200 |
| Management of companies and enterprises | 33,309 | 2,499,300 |
| Administrative and support and waste management and remediation services | 86,565 | 11,877,800 |
| Educational services | 40,044 | 4,716,600 |
| Health care and social assistance | 168,317 | 21,944,300 |
| Arts, entertainment, and recreation | 46,878 | 4,323,300 |
| Accommodation and food services | 117,856 | 14,415,800 |
| Other services (except public administration) | 81,422 | 11,388,700 |
| Federal government civilian | 20,340 | 2,852,000 |
| Calculate the employment multiplier for this local economy.View keyboard shortcuts | 7,345 | 1,927,000 |
| State and local government | 157,642 | 19,521,000 |
Using the data provided, compute the location quotient for each industry in King County, Washington.
Compute the basic employment for each industry as follows:
If LQ < 1 then the basic employment is 0
If LQ >1 then the basic employment = [(LQ-1)/LQ] x Industry Employment in 2016
What industries are the most important for this local economy?
Calculate the employment multiplier for this local economy.View keyboard shortcuts