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 | 2022 | 2017 | 2012 | |||
Industry | number | % | number | % | number | % |
Agriculture, forestry and fishing | 1,222 | 6.6 | 1,441 | 8.5 | 1,051 | 6.8 |
Mining | 76 | 0.4 | 43 | 0.3 | 51 | 0.3 |
Goods related | 6,201 | 33.3 | 5,636 | 33.1 | 5,948 | 38.3 |
Household services | 7,815 | 42.0 | 7,032 | 41.3 | 5,541 | 35.7 |
Business services | 2,166 | 11.6 | 1,799 | 10.6 | 1,906 | 12.3 |
Public administration and safety | 1,134 | 6.1 | 1,061 | 6.2 | 1,018 | 6.6 |
Total Industries | 18,614 | 100.0 | 17,012 | 100.0 | 15,515 | 100.0 |
Source: National Institute of Economic and Industry Research (NIEIR) ©2023. ©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 |