Understanding the economic role of City of Albany provides a framework for understanding what policy responses and investment may be appropriate to support the growth of businesses and maintenance of a vibrant economy in the future.
The charts and table below give a broad overview of the role and function of your economy. It helps answer questions such as:
- How much of the City of Albany's economy is driven by meeting the local population needs?
- What proportion of jobs in the area are in goods production or selling of products?
- In which broad sectors are the key strengths of the local economy?
- What contribution do business services make in your area and is it growing?
- Is there a presence of local, state and federal government workers in in the area?
Once you have developed a broad picture of your economy, you can then drill down further with all the detail here.
| Employment composition | ||||||
|---|---|---|---|---|---|---|
| City of Albany | 2023 | 2017 | 2012 | |||
| Industry | number | % | number | % | number | % |
| Agriculture, forestry and fishing | 1,149 | 6.0 | 1,353 | 8.1 | 1,207 | 7.8 |
| Mining | 73 | 0.4 | 51 | 0.3 | 74 | 0.5 |
| Goods related | 6,613 | 34.6 | 5,673 | 33.9 | 5,776 | 37.3 |
| Household services | 8,167 | 42.7 | 6,720 | 40.2 | 5,511 | 35.6 |
| Business services | 1,899 | 9.9 | 1,841 | 11.0 | 1,900 | 12.3 |
| Public administration and safety | 1,222 | 6.4 | 1,098 | 6.6 | 1,017 | 6.6 |
| Total Industries | 19,123 | 100.0 | 16,736 | 100.0 | 15,484 | 100.0 |
Source: National Institute of Economic and Industry Research (NIEIR) ©2024. ©2023. Compiled and presented in economy.id by .id (informed decisions). Data are based on a 2020-21 price base for all years. NIEIR-ID data are inflation adjusted each year to allow direct comparison, and annual data releases adjust previous years’ figures to a new base year.Learn more. Please refer to specific data notes for more information | ||||||