output v labor multiplier -- analysis by industry
I am looking at the top industries affected by hosting a special event, and the order for the top 3 using the output multiplier is 1. hotels/motels, 2. food services & drinking places, and 3. transit and ground transportation.. Using the labor multiplier the order is 1. food services & drinking places, 2. transit and ground transportation, and 3. hotels & motels. Should I expect to see the same order (although obviously different magnitude of effects) for output and labor income? What accounts for the differences?
Thanks for any input/help!
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IMPLAN SupportHi Emily, Thank you for your post! The reason you are seeing a difference is that with Output you are looking at Total Gross Revenue or Industry Sales. Labor Income is going to include both Proprietor Income and Wages which are fully loaded. Also, there is a relationship that exists between Output and Labor Income; which is Employee Compensation Per Worker. This is the average labor income dollars per employee which is very specific to each Industry. Some industries have higher Employee Compensation per Workers than others, say for example comparing a Retail Industry to a High Tech Medical Industry. Additional information to come soon in the form of an article! Thanks!0 -
IMPLAN SupportHi Emily, Here is the article on the Top Ten Industries: http://implan.com/index.php?option=com_content&view=article&id=466&Itemid=1706 Thanks!0
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