The Industry Snapshot report provides a detailed summary of the data related to a specific industry (defined by NAICS code), including jobs and occupations, trends, growth, demographics, and more.
To run an Industry Snapshot report, you must first select one or more industries to analyze. You can start typing the industry name or NAICS code to see autofill recommendations. Next, select a region (Zip, City, County, MSA, State, or United States). For this example, we will be looking at the Hospital industry in the MSA of Seattle-Tacoma-Bellevue, WA.
Note: The type of region you select will impact what data is available. To view the maximum amount of information, select a metropolitan statistical area (MSA.)
At the top of the report is a map of the area which highlights the intensity of jobs by county. Scroll over to see the exact number of specified jobs
Executive Summary
The first chat shows data about the Supply of workers for jobs. The number reflect the difference between the regional data and the national average adjusted for the selected region. On the far left, we see there are almost 50,000 Hospital workers in the Seattle MSA, meaning the supply for this kind of talent is lower than the national average.
Earnings Per Job captures earnings for the region compared to the national average for the industry. Earnings are calculated by taking the total pre-tax industry earnings divided by same-year industry employment. Earnings are defined as labor-related personal income—that is, income from work. Income from stock dividends or interest, rents, Social Security and other non-work sources are not included.
The Demand (Job Postings) helps you quickly understand employer demand for specific roles in the region. (Click here for the definition of job postings).
Note: The sidebar on the left side of the screen allows you to change your industry or region selections at any time. It also includes filters for class of worker.
Supply (Jobs)
The regional vs. national average employment helps you understand if the supply of Hospitals is a strength or weakness for Seattle-Tacoma-Bellevue, WA, and how it is changing relative to the nation. An average area of this size would have 72,024* employees, while there are 49,991 here. This lower than expected supply may make it more difficult to find candidates. The gap between expected and actual employment is expected to remain roughly the same over the next 5 years.
Demographic Overview
This section helps you understand some basic diversity measures for the industry in your region. Each data point is compared to areas of the same size across the nation.
Retiring Soon accounts for the working population older than 55.
Racially Diversity is the number of diverse employees.
Gender Diversity shows the gender count of individuals working in the selected industry and region.
available at county, msa, state, nation
not available at city, zip, tract
Source: Lightcast’s proprietary employment data, incorporating Census’ Quarterly Workforce Indicators and American Community Survey
Unemployment Rate Trends
This graph shows the trend of unemployment at the 2-digit NAICS code
available at county, msa, state, nation
not available at city, zip, tract
View this article learn more about the unemployment data sources.
Demographic Details
The demographic details are broken into three tabs; Age, Race/Ethnicity, and Gender. These charts give you a view of the workers in this industry.
Occupation Breakdown
Shows how the jobs in the industry break down into the different occupation sectors. You can see that Healthcare Practitioners and Technical Occupations represents more than half of the Hospital jobs with 57.7%.
Demand
The information in this section comes from job postings. You can see the total number of employers competing for talent in the last 12 months, How many unique job postings were published, and the median duration for how long the postings were opened.
The Top Companies show you who is posting the most roles. The Top Job Titles gives you visibility into the specific roles being hired.
Industry Gain and Drain
Gain and Drain are the terms that Lightcast uses to describe the directional flow of job transitions found in online profiles. In this instance the Gain (where people are coming from) and the Drain (where they are moving to after working in this industry) are pretty parallel. That isn't always the case.
Please note, results are only available at the national level and the 6-digit NAICS level. Also your selection has been limited to 100 industries.
Skills
Skills help us understand how the industry is changing based on the top 15 skills from job postings each quarter. Here you can see that Pediatrics was the 5th most popular skill in January 2023, but became the 2nd most popular skill the next quarter.
Gross Regional Product (GRP)
Gross Regional Product (GRP) is the sum of total industry earnings, taxes on production and imports, and profits, less subsidies, across the region. It’s important to note, however, that this figure is not specific to your selected industry--it reflects the region as a whole. In Washington, industries have drawn in over $6B in earnings in 2022. From property income, the region totaled $1.1B, and also generated over $304.5M in tax revenue. Together, these numbers total to $7.4B in GRP.
Industry requirements
This section shows an estimate of purchases within the industry’s supply chain, based on Lightcast’s Input-Output model. Those estimates are broken down into in-region purchases (bought within our region of Washington) and imported purchases (bought outside Washington).
If you have additional questions or concerns, please contact our customer service team here. We’d love to learn more about your work and see how we can help!