An economic diversity index can be developed to describe the industries and sectors present in an economy. If economic diversity is defined as “a large number of different types of industries being present in an area” or “the extent to which the economic activity of a region is distributed among a number of industrial sectors,” a summary statistic can be used to describe the diversity of an area and compare it to other areas. Measures such as location quotients compare local areas’ proportional employment in industries to those of a larger region. The Shannon-Weaver Diversity Index measures diversity of employment, considering both numbers of industries present and the distribution of employment across them, against a uniform distribution where employment is equi-proportional across all industries.
Relative employment and incomes in a region are measures of overall economic well-being. Useful metrics include:
a. Employment –All full time and part-time works, wage3 and salary jobs (employees), and proprietors (the self-employed) reported by place of work.
b. Population- The total number of people by place of residence
c. Personal Income- Income from wage and salary employment and proprietors' income (labor earnings), as well as non-labor income sources (dividends, interest, and rent, and transfer payments) reported by place of residence. All income figures will be shown in real terms (i.e., adjusted for inflation).
d. Unemployment- The number of people who are jobless, looking for jobs, and available for work divided by the labor force.
Data on these variables provide information on the vitality of the local economy. High numbers in the unemployed, underemployed, and discouraged worker categories could indicate an economy in trouble and a community under stress. Such high numbers occurring in rangeland related industries (e.g., livestock production, recreation, tourism) would provide an indication of pressures on rangeland-dependent livelihoods and lifestyles.
Federal transfer payments (e.g., food stamps, social security, Medicare/Medicaid, support for Women, Infants, and Children–WIC) are a relatively stable source of income to individuals and to local, especially county, governments during most economic conditions. This indicator is another aspect of economic resilience and the capacity to endure changes in economic conditions. The presence of such transfers could help counteract some of the adverse effects of poverty and income inequality.
This indicator will produce tabular information on trends in monetary measures of contributions to society and the state’s quality-of-life from three different ecosystem services: recreation, passive use values, and carbon sequestration values. Maintaining and enhancing forest’s non-commodity contributions to state and local economies, communities, and to the state's quality-of-life are very important. These values, such as clean water, habitat for fisheries, and scenery are often taken for granted because they are not generally traded in markets. As such, they have no ‘price’ and are therefore seemingly provided for “free”.
This indicator will produce tabular, map, and graphical information on historical and current trends of some selected sectors in forest-related employment and wages in rural, urban, and forest-based areas. Maintaining and enhancing rural economies is very important to Oregonians. Many communities in rural Oregon have fallen behind the state’s more populated areas in economic-well being.
This indicator will produce tabular and graphical information on historical and current trends in selected forest-related revenues to state and local governments in Oregon. These revenues support public services such as education, public safety, environmental protection, and forestry research.
This indicator uses several metrics describing the level of employment in 3 sub-sectors of the forestry sector:
- Growing and Harvesting- These are jobs associated with growing and harvesting of trees on a long production cycle. It includes people employed in forest nurseries, as well as those involved in the cutting of trees and transportation of timber.
- Sawmills and Paper Mills- These are jobs associated with converting logs into lumber, boards, poles, shingles, and similar milled products. It includes those involved in the conversion of logs and chips into pulp and paper as well as the creation of veneer and plywood.
- Wood Products Manufacturing- These are jobs associated with manufacturing. It includes the production of corrugated boxes, gum and wood chemical products, cabinets, furniture, and other wood manufactured products.
This is a measure of social and sometimes economic well-being. The higher the rate, the more likely young people will find be able to find jobs. In addition, high rates are indicative of a successful school system.
This measure can have two meanings an indicator. One is that more hours a person works, up to full-time, indicates successful employment. Another is that the more hours a person works, beyond full-time, indicates that people may need to work many hours to make ends meet for themselves and family.
