Tag Archives: fastest growing metros

Examining Economic Well-Being by Metro

.. examining the state of economic well-being: 2008-2017 .. expanding insights through data analytics .. tools and data to examine how and where the U.S. by metropolitan area real personal income is changing.  Real per capita personal income (RPCPI) is the best single measure of personal economic-well being. By examining RPCPI trends over a period, stakeholders can better determine if the area in improving, stable or declining. Still, RPCPI is but one important measure among many others, such as the Regional Price Parities (RPP). Use the interactive table, and related GIS tools, to examine these and other real personal income measures for the Nation’s 383 Metropolitan Statistical Areas (MSAs). See related Web section for more detail.

Based on data released by the Bureau of Economic Analysis in May 2019, see about in statistical release dates, real state personal income grew 2.6 percent in 2017, after increasing 1.5 percent in 2016. Real state personal income is a state’s current-dollar personal income adjusted by the state’s regional price parity and the national personal consumption expenditures price index. Across metropolitan areas, the percent change ranged from 14.8 percent in Midland, MI to -5.9 percent in Enid, OK

Visually Examining Patterns of Economic Well-Being
Geographic Information Systems (GIS) tools provide a powerful to explore these data. The following graphic shows a view of real per capita personal income (RPCPI), 2017, for Texas MSAs. Color patterns for levels of RPCPI are shown in the inset legend. MSAs are labeled with the 2017 RPCPI rank among all U.S. MSAs. Click graphic for larger view; expand browser window for best quality view. The larger view shows MSAs labeled with short name and a mini-profile for Harris County (pointer).

.. view developed with ProximityOne CV XE GIS and related GIS project.

Using the Interactive table
The interactive table (click link to view/use) includes a row for the U.S., U.S. nonmetro area and each Metropolitan Statistical Area (383). Each row provides a 2008-17 annual time series for four items (and derived items): real per capita personal income, regional prices parities-all items, total real personal income, implicit regional price deflator.

The following graphic shows these areas ranked on RPCPI in 2017. See rightmost column rank. Click graphic for larger view. Midland, TX MSA has the 4th highest 2017 RPCPI (shown in blue; also shown in blue in the map graphic above). But … that metro experienced a decrease of 12.1 percent over the period 2010-2017 .. and down from a high RPCPI of $115,069 in 2014. The dynamics of the oil industry!

Data Analytics Web Sessions
See these applications live/demoed. Run the applications on your own computer.
Join me in a Data Analytics Lab session to discuss more details about accessing and using wide-ranging demographic-economic data and data analytics. Learn more about using these data for areas and applications of interest.

About the Author
— Warren Glimpse is former senior Census Bureau statistician responsible for innovative data access and use operations. He is also the former associate director of the U.S. Office of Federal Statistical Policy and Standards for data access and use. He has more than 20 years of experience in the private sector developing data resources and tools for integration and analysis of geographic, demographic, economic and business data. Contact Warren. Join Warren on LinkedIn.

New Monthly Residential Construction by Metro Updates

.. tools, data & methods to assess the housing situation, examine housing supply and demand market conditions, and how metros of interest are changing.  New July 2016 building permits (new housing units authorized) and over-the year monthly data are now available for each metropolitan statistical area (MSA).

Use the interactive table to view, query, rank, compare data by metro. Map and geospatially analyze construction patterns with the CV XE GIS software and ready-to-use GIS project/datasets – see details.

Updated Resources to Examine Residential Construction Patterns
Metro Situation & Outlook Reports
.. metro by metro … examples: Houston, Los Angeles, Chicago, Atlanta.
County Annual U.S. by county
County & City/Place Monthly

Patterns of New Authorized Residential Units by Metropolitan Area
The following graphic shows value of single unit structures units authorized  by metro. Larger view shows more details including a mini-profile of housing units authorized detail. Create similar views for preferred time periods and different residential unit attributes using the GIS project.  Zoom-in to areas of interest.  Label the geography as desired.  Add your own data.

View created with CV XE GIS. Click graphic for larger view.

The time lag from reference date to access date of these data is one month, contributing to both the freshness of the data and importance of the data as a leading economic indicator. The importance of these data transcends issues concerning housing market conditions alone.  These data are one part of a mix of demographic-economic factors required to understand housing market conditions and the local/regional economy. These data are a part of the process to develop the ProximityOne county and sub-county demographic-economic estimates and projections.

Join me in a Data Analytics Lab session to discuss more details about accessing and using wide-ranging demographic-economic data and data analytics. Learn more about using these data for areas and applications of interest.

About the Author
— Warren Glimpse is former senior Census Bureau statistician responsible for innovative data access and use operations. He is also the former associate director of the U.S. Office of Federal Statistical Policy and Standards for data access and use. He has more than 20 years of experience in the private sector developing data resources and tools for integration and analysis of geographic, demographic, economic and business data. Contact Warren. Join Warren on LinkedIn.