Knowledge Economy
Goal:
Measure
This measure includes the Percentage
of workforce in occupations representing high-skill, high-wage, high-growth
jobs, average annual pay and net growth and loss in each profession by total numbers and percentage.
Why This Indicator is Important
A key measurement to
economic growth is analyzing the growth in knowledge fields. Alongside
post-secondary education, types of employers and median income can determine a
community’s economic health and well-being.
How Are We Doing?
The growth areas
continue to be in the service industry, while the reduction of jobs continues
to be in manufacturing. However, the
growth in the service industries, whether health care or professional or
hospitality services is specifically related to jobs which are entry level and
limited income growth rather than those positions in the service area that
require high levels of education. In Midland County as in Michigan, service industries, scientific and technology, and medical fields are those which are growing. Data also shows that growth predictions by education are primarily in technology and healthcare.
Qualitative Indicators for Impact
Economy