By Rob Sentz
NOTE on Analyst 3: EMSI recently released Analyst 3 to a select group of beta testers. They will be hammering away, finding bugs, checking out the data, and generally doing all the sorts of things they’d normally be doing when getting into the data so we can prep for release. This blog post will serve as a preview of what the new tool has to offer.
Let’s take a quick minute to look at the motion picture industry using Analyst 3, our latest and greatest labor market and economic analysis tool. As you look at this data, remember that everything you’ll see here comes from a single report.
The first thing to do is simply build a region. In this case I selected the Los Angeles MSA. This gives me access to EMSI’s full database of industry, occupation, demographic, skills, education, and job-postings data.
In our first display we can see the geographic region we have selected and then key stats for the industry groups. In this case I asked the tool to show me data for motion picture and video production (NAICS 512110) and motion picture and video distribution (NAICS 512120). The tool quickly tells me some interesting facts.
First, in the LA metro there are about 5,000 establishments (places of work) that classify themselves as either video production or distribution. Next we see that these two industries have quite an impact on the region. For every one job in the motion picture sector, 3 more can be explained throughout the LA economy, making the motion picture industry a huge economic driver (no surprises there).
Second, we can see a gender and age breakdown for the industries. Males make up 65% of the sector and 25-44 year olds comprise 50% of the sector. This can be pretty useful if you are trying to get a better sense, among other things, determining an aging workforce.
Third, we get some nice comparative figures:
- In 2011, nearly 118K people work in the two industries. The thing to note here is that LA is about 11 times more concentrated for this industry as compared to the typical region (again, not surprising, but useful for a sense of scale).
- Oddly enough the LA film industry is shedding jobs (nearly 6% decline over past 5 years) while the rest of the country seems to be gaining (2.3% growth over past 5). This might be cause for concern for folks who would like to make sure the motion picture sector stays healthy in California.
- The average earnings per job for these two industries is quite high ($111K annually). The average for the nation is below $90K per year, which might partially explain the exodus from California.
Trends & Comparison
Next, the tool lets us quickly diagnose the overarching trends for the industries in question. We can also set up comparison regions, because after all, the essence of analysis is comparison. In this case we have the LA metro compared to the NYC metro for the motion picture sectors. LA dominates in terms of total jobs, but NYC grew by a 23% (nearly 10K jobs since 2006). In that same time period LA shed some 8,000 jobs.
Staffing Patterns & Regional Businesses
Next, we want to get a sense of who actually works in these two motion picture industries. This is referred to as a “staffing pattern” and it reveals what occupations comprise the industries. In this case we see that producers and directors (27-2012) make up just over 11% of the industry. This is followed by “entertainers” (somewhat of a catch-all category) at about 8% of the industry — then managers, film editors, and actors. We could also show the full staffing pattern here, which is pretty extensive.
This is great info for really figuring out what makes a particular industry tick. And in a day and age where human capital is key to education, workforce and economic development, staffing patterns are a primary starting point for development efforts.
The fourth and final piece of data that Analyst will help us see and understand is how much money the industry spends, what they spend on, and whether or not the money is spent on industries inside or outside of the economy.
A note on industry requirements: requirements represent the demand the industry has for goods and services. All industries require products from other industries to function and produce. A functioning bakery will require eggs, milk, pots and pans, dishwashing detergent, janitorial services, etc. These goods and services come from multiple industries, and represent the industry requirements of bakeries.
In this case we see that the motion picture and video production industry spends $4 billion on goods and services in order to function. Impressively, it spends all of that money within the region. The supply chain is extremely localized, showing no dollars leaking out of the economy.
This was a quick summary of the Economy section of Analyst 3. We can perform this type of analysis on any of the 1,200 industries classified in the United States for any state, county, ZIP, or MSA. We can also produce custom groupings of industries or occupations for any custom region.
If you have something you’re wondering about, just ask and we’ll see what we can do. If you’d like to learn more about Analyst and its many capabilities, let us know. Contact Rob Sentz for more information.