interpretation of retail labor income
In working through the IMPLAN3 demo, I increased the number of employees in the "Retail Stores..." sector 329, by 10. The result of the scenario shows total income of $111,258, which divides out to $11,125.80 per employee; is that per year?? What is going on here? I was told it has something to do with the way IMPLAN calculates margin. Can you explain that please?
Also, if I know the square footage of a building is there anyway to calculate how many retail employees will be necessary, or optimal?
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Two possibilities (it would help to know which sample data file you used): 1) Employment in IMPLAN is part time/full time annual average. If your region has a large number of part-time employees the average annual wages can be low. 2) Proprietor income was negative for this sector, which dragged down labor income (employee compensation plus proprietor income). Are the 10 jobs and 111,258 what are reported in the direct effects? There are some numbers floating around Google (search with "employment by retail square footage"). The most current information, it looks like you have to buy.0
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