Filling hard-to-fill jobs impact

Comments

1 comment

  • Avatar
    IMPLAN Support
    Hello Scott, You can use an Industry Change approach to measure the amount of Output related to the position. Below are a few things to consider. IMPLAN is an annual model. If the filled position was open for less than a year, then the Output estimation will be higher than actual Output. In IMPLAN, there is no distinction between types of employment positions (e.g., welding versus accounting). Therefore, using Employment as your input value simply impacts the operations value of an industry by the Output Per Worker ratio for that industry. However, it sounds as if you may have information about how much these filled positions pay. If you have the Employee Compensation value for these positions (which includes benefits and payroll taxes), then we suggest using this as your input. From the firm’s perspective, the change in output also implies some costs. The firm retains only a portion of this Output (Other Property Income: OPI); the Employee Compensation, Intermediate Expenditures, and Taxes on Production and Imports) - and some of Proprietor Income, depending on the situation - are all new costs associated with the firm’s ability to fill the position. Finally, this approach will capture the Induced impact of the employee of this position spending his/her labor income. Therefore, you will not need to conduct a Labor Income Change activity alongside your Industry Change activity. Regards, IMPLAN Staff
    0
    Comment actions Permalink

Please sign in to leave a comment.