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Volume 6,
No.2 |
Socioeconomic Data
for Understanding Your Regional Economy: Joseph Cortright & Andrew Reamer, Washington, DC: US Department of Commerce, Economic Development Administration,1998. Pp.100. Accessible through the Internet www.econdata.net (click on User’s Guide). Printed copies may be requested by e-mail to jmcnamee@doc.gov. Published under a grant from the Economic Development Administration, U.S. Department of Commerce, this 100 page user’s guide will help economic development practitioners, researchers and labor market analysts find and use data to accurately describe regional economic activity. It offers the novice or experienced researcher a concise, easy-to-use reference to reliable sources, practical tools and proven methods for simplifying the daunting task of economic analysis. Part one covers the basics, such as what kinds of data are available, where to get them and what analytical tools to use. The authors discuss eight categories of socioeconomic activity, the agencies and programs involved and some statistical methods to analyze and interpret the data which will aid in accurately profiling the regional economy. Labor market economists will readily grasp the importance of information produced by the “big three” federal agencies, the Census Bureau, Bureau of Labor Statistics and Bureau of Economic Analysis, as the authors examine the types, uses and limitations of data from these primary sources. Programs such as the Decennial Census, Local Area Unemployment Statistics (LAUS), Current Employment Statistics (CES), Covered Employment and Wages (ES-202) and County Business Patterns are among the programs examined and clearly explained. Readers are also introduced to basic and advanced analytical tools including; time-series analysis, location quotient, shift-share analysis, economic modeling and micro data analysis. Excellent additional references are offered to those who wish to further educate themselves on more advanced techniques. In part two, the authors explain the methods experienced practitioners use to develop and communicate accurate pictures of local or regional economies. These include not only the basic tools and methods readily available but also more advanced techniques involving micro data, longitudinal analysis and input/output models. The authors also caution against seven common pitfalls which data users may encounter such as series breaks, confidentiality, time lags, revisions and differing methods and definitions. This User’s Guide, available at www.econdata.net, provides a valuable reference to readily available sources of information and methodologies used to describe activities and trends in sub-national economies. Readers will particularly appreciate the many helpful references and web sites listed throughout. The authors’ experience in developing and evaluating economic development strategies make this publication required reading for anyone with an economic story to tell. Co-authors Joseph Cortright and Andrew Reamer brought over forty years of combined professional experience in the field of economics to their publication Socioeconomic Data for Understanding Your Regional Economy. Joseph Cortright is an economic consultant at Impresa Inc., where he provides technical expertise in developing and evaluating economic development strategies for national, regional and state organizations. He served as Executive Officer for the Oregon Joint Legislative Committee on Trade and Economic Development and developed state economic policies at a time when Oregon spawned a series of nationally recognized innovations in economic development. Mr. Cortright is the author of more than two dozen reports and studies on economic issues and holds a Master of Public Policy from the University of California, Berkeley and a B.S. in Economics from Lewis & Clark College. Andrew Reamer, Ph.D., is Principal of Andrew Reamer & Associates, a Boston-based economic development consulting firm. He is co-creator of EconData.Net (www.econdata.net), a guide to regional economic data on the Web. Dr. Reamer received a Ph.D. in Economic Development and Public Policy and a Masters in City Planning from the Department of Urban Studies and Planning, Massachusetts Institute of Technology. Prior to founding his firm, Dr. Reamer was a founding partner of Mt. Auburn Associates (1984), another Boston-based economic development consulting firm. |
Ron McPherson is a labor market economist in the Springfield office where he gathers, analyzes and disseminates labor market information. He has worked for the Illinois Department of Employment Security since 1998 after completing a 26-year career in the United States Air Force and six years in the aerospace defense industry as a project manager and consultant. Ron’s military experience includes both command and staff assignments in operations, test & evaluation, systems acquisition, and strategic planning. His corporate experience includes production management and business development. He holds a BA degree from Southern Illinois University, Carbondale and an MA from the State University of New York, Plattsburgh.