Understanding the economic role of City of Prospect 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 Prospect'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 Prospect | 2023 | 2017 | 2012 | |||
| Industry | number | % | number | % | number | % |
| Agriculture, forestry and fishing | 8 | 0.1 | 1 | 0.0 | 7 | 0.1 |
| Mining | 5 | 0.1 | 0 | 0.0 | 0 | 0 |
| Goods related | 2,151 | 29.3 | 2,205 | 34.8 | 2,399 | 37.4 |
| Household services | 3,420 | 46.6 | 2,512 | 39.7 | 2,416 | 37.6 |
| Business services | 1,517 | 20.7 | 1,376 | 21.7 | 1,333 | 20.8 |
| Public administration and safety | 237 | 3.2 | 235 | 3.7 | 263 | 4.1 |
| Total Industries | 7,337 | 100.0 | 6,329 | 100.0 | 6,418 | 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 | ||||||