Net Percent Change in Local Jobs
- Analysis of Performance
- Metric Definition
- Why Is This Important?
- City Organization Impact on Performance
- Benchmark Information
Analysis of Performance
1) Quarter 3 of 2013 saw a minor drop in the net local employment figures. Quarter 2 has historically been the strongest for local employment, and experienced 3.64% growth in 2013 - higher than average, followed by a -0.32% drop in Q3, which is lower than the historical average.
Job change measures the number of new jobs available in an economy. The net job change accounts for layoffs as well as new positions; a healthy economy will have a given number of new jobs created each month/quarter despite some layoff activity.
Why Is This Important?
Job change is often seen as a leading indicator of economic activity, meaning that it can project economic expansion or contraction. Jobs also constitute the essential building block of any economy and are therefore essential to measure.
City Organization Impact on Performance
Medium - The activities of the Economic Health Office are intended to influence local job creation, but final hiring activity is also inluenced by outside economic conditions.
Benchmarking in progress