This article was originally published in the Gettysburg Times, June 11, 2020
Economic recovery is underway, as Adams County businesses continue to reopen and adjust to our “new normal” amid the COVID-19 pandemic.
As part of the recovery process, we want to remind Adams Countians that the Alliance is here to help you in a multitude of ways. Two specific ways relate to data!
Why am I talking about data right now?
As we shift from crisis response to economic recovery, your business may be rebuilding or shifting, seeking new clients, employees, markets, lead generation or properties. Business planning and local market research is also critical for entrepreneurs creating business plans or loan applications.
First, data analysis is at your fingertips, with incredible tools collectively called, “Adams Intel.” Directly on the homepage of our website, is a link to our Adams Intel micro site (a website within a website).
Within Adams Intel, we have loaded tons of data including tables, charts, maps including heat maps showing specific industry hot spots, videos and much more. If you were to explore every single facet of Adams Intel it would likely take several hours. But of course, you can also zero in on specific data you’re seeking, within five minutes or less, if that’s your goal.
Here are just a few examples of the fascinating data you can pull from Adams Intel:
- Adams County’s fastest-growing industries
- The county’s fastest-growing traded industries
- Analysis of competition within your specific industry
- Underrepresented industries in Adams County—and you can compare these industries to state and national figures
- Opportunity clusters of industries throughout Adams and all of its surrounding seven Pennsylvania and Maryland counties—because clusters provide powerful value chains
- Analysis of the Adams County workforce
- Tons of statistics about quality of life from the 2018 Adams County profile
Secondly, thanks to our relationship with our region’s workforce development organization, SCPaWorks, we have access to valuable data related to the labor market. Understanding the changing labor market can help you analyze your industry, especially compared to the rest of the state and nation.
As expected, state unemployment figures dropped in every region, from March to April. The seasonally adjusted unemployment rate for the Gettysburg Metropolitan Statistical Area (MSA) was 15.2 percent in April, up 11.1 percentage points from March. This is our region’s highest unemployment rate within current records going back to 1976. The statewide unemployment rate was 15.1 percent, up 9.3 percentage points over the month while the national rate rose 10.3 percentage points to 14.7 percent in April.
Additional Gettysburg MSA data: April’s civilian labor force numbers 54,000 and there were 46,100 people employed, leaving 7,900 people unemployed. Taking a look at our region’s specific numbers within sectors of industry, one of the biggest employment drops occurred in the service-providing sector, which recorded 25,300 jobs in March of 2020. The figure dropped to 20,300 in April.
If we can help connect you to data, please let us know. Our consultation services, as always, are free and available to all Adams County businesses. We are here to help rebuild and strengthen Adams County’s economy!