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Consider the following information about employment across industries in Chicago.
Number of employees Location Quotient
Manufacturing 58,435 0.559
Finance and insurance 102,751 1.825
Administrative and support 107,618 1.181
Educational services 9,379 1.566
Health care and social assistance 179,570 1.046
Arts, entertainment, and recreation 19,132 0.986
If there were a national downturn in these industries, which is likely to be most closely linked to the residential real estate market in Chicago?
A. Manufacturing
B. Finance and Insurance
C. Administrative and Support
D. Educational services
E. Health care and social assistance
F. Arts, entertainment, and recreation
G. None of the above.

Sagot :

Tundexi

Answer:

B. Finance and Insurance

Explanation:

The Location Quotient (LQ) value of finance and insurance is the highest (1.825) and its employment concentration (102,751) is higighesth as well although not the highest.

We know that when (LQ) is greater that 1, its indicates the high concentration in regional growth and opportunities as finance and insurance is concerned.

On the other hand lowest, (LQ) at manufacturing is less than 1 and the employment is also low (58,435), that indicates that manufacturing employment has less of a share of the total in regional growth and opportunities.

So, if there were a national downturn in these industries, Finance and Isurance is likely to be most closely linked to the residential real estate market in Chicago.

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