Top 10 Worst Performing Santa Fe Industries

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A handful of different industries claim to be the most important to the Santa Fe economy – tourism, government, construction, financial services, and real estate, to name a few. Although some job claim projections are silly by any measure, for most it depends on whether you define importance as the value of output, number of jobs or wages paid.  Each yields a different result.

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Top 10 Worst Performing Santa Fe Industries

  1. 1. Santa Fe I N D U S T R YWorst 2011 Economic Base Analysis (Part II) 2 0 1 1 A handful of different industries claim to be the most important to the Santa Fe economy – tourism, government, construction, financial services, and real estate, to name a few. Although some job claim projections are silly by any measure, for most it Jobs depends on whether you define importance as the value of output, number of jobs or wages paid. Each yields a different result. The most critical way to measure an industry’s importance is to look at the new dollars it brings into the market when its output is sold. Using the US Bureau of Labor Statistics’ “location quotients” derived from a shift share analysis (which is a fancy way to say jobs locally created and lost relative to jobs nationally created and lost), we can easily see where Santa Fe is benefitting and lacking in particular economic sectors. 10 For instance, the category of Sports, Hobbies, and Book stores is in an industry that directly competes with the internet. Certainly there are a number of items that can’t be purchased on-line, but this real estate subsector is in decline across the nation and 10. using a location quotient, we can see that we are losing jobs locally faster than the national average. The following top ten worst performing jobs show where Santa Fe’s primary economic base is losing jobs faster or in worse proportion to that of the national economy. topTuesday, April 26, 2011
  2. 2. Santa Fe I N D U Printing Services S T R Y Industries in the Printing and Related Support Activities subsector print products, such as newspapers, books, labels, business cards, stationery, business forms, and other materials, and perform support activities, such as data imaging, platemaking services, and bookbinding. The support activities included here are an integral part of the printing industry, and a product (a printing plate, a bound book, or a computer disk or file) that is an integral part of the printing industry is almost always provided by these operations. Santa Fe County National New Establishments Employment 2003 10 102 10. EXPORT JOBS -35.23% 2010 59 PRINTING SERVICES Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  3. 3. Santa Fe I N D U Educational Services S T R Y Industries in the Educational Services provide instruction and training in a wide variety of subjects, such as schools, colleges, universities, and training centers. Establishments that manage schools and other educational establishments on a contractual basis are classified in this subsector if they both manage the operation and provide the operating staff. Such establishments are classified in the educational services subsector based on the type of facility managed and operated. Santa Fe County National Unemployment Rate Employment 9 2003 EXPORT JOBS 1,389 9. -36.21% 2010 1,237 EDUCATIONAL SERVICES Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  4. 4. Santa Fe I N D U Furniture Manufacturing S T R Y Furniture and cabinet makers and related articles, such as mattresses, window blinds, cabinets, and fixtures. The processes used in the manufacture of furniture include the cutting, bending, molding, laminating, and assembly of such materials as wood, metal, glass, plastics, and rattan. Santa Fe County National Unemployment Rate Employment 8 2003 91 2010 8. EXPORT JOBS -37.05% 45 FURNITURE MANUFACTURING Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  5. 5. Santa Fe I N D U Furniture Stores S T R Y Furniture and Home Furnishings Stores retail new furniture and home furnishings from fixed point-of-sale locations. Establishments in this subsector usually operate from showrooms and have substantial areas for the presentation of their products. Many offer interior decorating services in addition to the sale of products. Santa Fe County National New Establishments Employment 7 2003 467 2010 EXPORT JOBS 252 -51.06% FURNITURE STORES Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  6. 6. Santa Fe I N D Leisure Retail U S T R Y Sporting Goods, Hobby, Book, and Music Stores engaged in retailing and providing expertise on use of sporting equipment or other specific leisure activities, such as needlework and musical instruments. Book stores are also included in this subsector. Santa Fe County National New Establishments Employment 2003 6 386 2010 EXPORT JOBS 376 -58% SPORTS, HOBBIES, BOOKS & MUSIC STORES Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  7. 7. Santa Fe I N D Food Manufacturing U S T R Y Industries in the Food Manufacturing subsector transform livestock and agricultural products into products for intermediate or final consumption. The industry groups are distinguished by the raw materials (generally of animal or vegetable origin) processed into food products. The food products manufactured in these establishments are typically sold to wholesalers or retailers for distribution to consumers, but establishments primarily engaged in retailing bakery and candy products made on the premises not for immediate consumption are included. Santa Fe County National New Establishments Employment 5 2003 180 EXPORT JOBS 2010 -66.77% 104 FOOD MANUFACTURING Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  8. 8. Santa Fe I N D U Truck Transportation S T R Y Industries in the Truck Transportation subsector provide over-the-road transportation of cargo using motor vehicles, such as trucks and tractor trailers. The subsector is subdivided into general freight trucking and specialized freight trucking. This distinction reflects differences in equipment used, type of load carried, scheduling, terminal, and other networking services. General freight transportation establishments handle a wide variety of general commodities, generally palletized, and transported in a container or van trailer. Santa Fe County National New Establishments Employment 4 2003 99 2010 EXPORT JOBS 55 -72.90% TRUCK TRANSPORTATION Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  9. 9. Santa Fe I N D Metal Manufacturing U S T R Y Industries in the Primary Metal Manufacturing subsector smelt and/or refine ferrous and nonferrous metals from ore, pig or scrap. Establishments in this subsector also manufacture metal alloys and superalloys by introducing other chemical elements to pure metals. The output of smelting and refining, usually in ingot form, is used in rolling, drawing, and extruding operations to make sheet, strip, bar, rod, or wire, and in molten form to make castings and other basic metal products. Santa Fe County National New Establishments Employment 3 2003 44 2010 EXPORT JOBS 19 -78.94% METAL MANUFACTURING Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  10. 10. Santa Fe I N D U Financial Services S T R Y Industries in the Funds, Trusts, and Other Financial Vehicles subsector are comprised of legal entities (i.e., funds, plans, and/or programs) organized to pool securities or other assets on behalf of shareholders or beneficiaries of employee benefit or other trust funds. The portfolios are customized to achieve specific investment characteristics, such as diversification, risk, rate of return, and price volatility Santa Fe County National New Establishments Employment 2003 2 359 2010 38 EXPORT JOBS -201.55% FINANCIAL SERVICES Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011
  11. 11. Santa Fe I N D U S Information Content Services T R Y Industries in the Information Services group establishments supply information, storing and providing access to information, searching and retrieving information, operating Web sites that use search engines to allow for searching information on the Internet, or publishing and/or broadcasting content exclusively on the Internet. The main components of the subsector are news syndicates, libraries, archives, exclusive Internet publishing and/or broadcasting, and Web Search Portals. Santa Fe County National New Establishments Employment 1 2003 52 EXPORT JOBS 2010 -435.14% 27 INFORMATION SERVICES Source: US Department of Labor, Bureau of Labor Statistics, 2011Tuesday, April 26, 2011

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