Leading, Slipping, Gaining, Lagging Analysis:
Assessing Finance and Insurance Employment Growth
Across States
Finance and Insurance
Employment Growth
State vs Nationwide Average: 2010-2017 and 2017
Finance and Insurance
Employment Growth
U.S.:
2010-2017 = 1.36%
2017 = 3.17%
Borrowing from an approach that sometimes appears in the finance sections of the popular press, LSGL analysis is a handy and versatile way to compare, portray and classify the patterns of finance and insurance employment growth across all 51 states. In finance, this technique is used for comparing and assessing the market performance of individual securities or across industry sectors. For example, the performance of the 30 stocks contained within Dow are compared with one another over the past week in contrast to their performance over the past month using the Dow's respective averages as the points of reference.
Here in this United States Regional Economic Analysis Project report, we adopt this approach to gauge and compare the finance and insurance employment growth of all 51 states over the latest available year (2017) against the backdrop of their growth over the long term period (2010-2017). In so doing we classify their growth and performance into 4 broad categories: Leading, Slipping, Gaining and Lagging.
Finance and Insurance
Employment Growth
State vs Nationwide Average: 2010-2017 and 2017
Finance and Insurance
Employment Growth
U.S.:
2010-2017 = 1.36%
2017 = 3.17%
This figure displays the 51 states of the United States as dots on a scattergram, with the vertical axis representing the average annual finance and insurance employment growth rate over the long-term period (2010-2017), and the horizontal axis representing the finance and insurance employment growth rate for the near-term (2017).
This figure sets apart those states whose long-term finance and insurance employment growth exceeded the nationwide average of 1.36%, by portraying them in the top two quadrants demarcated at 1.36% on the vertical axis. State whose long-term average annual finance and insurance employment growth rate trailed the nationwide average (1.36%) are distributed in the bottom two quadrants. In all, 15 states surpassed the nationwide average over 2010-2017, while 36 states fell below.
Similarly, the two quadrants on the right of this figure present the positions of the 19 states whose most recent (2017) finance and insurance employment growth rate exceeded the nationwide average (3.17%). The two quadrants on the left feature those 32 states whose finance and insurance employment growth over 2017 trailed the nationwide average.
Accordingly, each quadrant portrays the performance of all 51 states corresponding with their long-term (2010-2017) and near-term (2017) performance relative to their respective nationwide averages of 1.36% over 2010-2017 and 3.17% over 2017:
Leading states () (top-right quadrant)...are states whose average annual finance and insurance employment growth rate surpassed the nationwide average both long-term (1.36%) and near-term (3.17%).
Slipping states () (top-left quadrant)...are states whose long-term average annual finance and insurance employment growth rate exceeded the nationwide average (1.36%), but whose near-term growth has "slipped" by falling below the the United States average (3.17%).
Gaining states () (bottom-right quadrant)...are states whose long-term average annual finance and insurance employment growth rate fell below the nationwide average (1.36%), but whose near-term growth has "gained" by registering above the average (3.17%) nationwide.
Lagging states () (bottom-left quadrant)...are states whose average annual finance and insurance employment growth rate fell under the nationwide average both long-term (1.36%) and near-term (3.17%).
   
 
Summary of United States' 51 State Totals
 
Short Term Average
 
 
Below
(3.17%)
Above
(3.17%)
 
Long
Term
Average
Above
(1.36%)
6
9
15
Below
(1.36%)
26
10
36
 
32
19
51
 
   
Leading States
2017 vs. 2010-2017 Averages
Leading States
U.S.:
2010-2017 = 1.36%
2017 = 3.17%
Turning attention to the top-right quadrant from the discussion above, this figure features the distribution of the United States states classified as Leading. These states surpassed the United States' average annual finance and insurance employment growth both long-term (2010-2017 = 1.36%) as well as near-term (2017 = 3.17%). Each is identified by its corresponding ranking based on it's average annual finance and insurance employment growth rate over 2010-2017.
Of the United States' 51 states, 9 (18%) are classified within the Leading () category. Those states ranked by their long-term average include:
Slipping States
2017 vs. 2010-2017 Averages
Slipping States
U.S.:
2010-2017 = 1.36%
2017 = 3.17%
This figure depicts the distribution of the 6 United States states classified as Slipping (top-left quadrant), in that their long-term average annual finance and insurance employment growth rate outpaced the average nationwide (2010-2017 = 1.36%), while they trailed the nationwide average near-term (2017 = 3.17%). Again, each state is identified by it's corresponding ranking based on its average annual finance and insurance employment growth rate over 2010-2017.
Only 6 (12%) of the United States' 51 states are classified as Slipping (). Those states ranked by their long-term average include:
Gaining States
2017 vs. 2010-2017 Averages
Gaining States
U.S.:
2010-2017 = 1.36%
2017 = 3.17%
This figure shows the distribution of the 10 United States states classified as Gaining (bottom-right quadrant), in that their long-term average annual finance and insurance employment growth rate posted below the average nationwide (2010-2017 = 1.36%), while they outpaced the United States' average near-term (2017 = 3.17%). Again, each state is identified by its corresponding ranking based on its average annual finance and insurance employment growth rate over 2010-2017.
Of the United States' 51 states, 20% (10) are featured as Gaining (). Those states ranked by their long-term average include:
Lagging States
2017 vs. 2010-2017 Averages
Lagging States
U.S.:
2010-2017 = 1.36%
2017 = 3.17%
This figure depicts the distributions of the 26 United States states classified as Lagging (bottom-left quadrant). These states trailed the nationwide average annual finance and insurance employment growth both long-term (2010-2017 = 1.36%) as well as near-term (2017 = 3.17%). Again, each state is identified by its corresponding ranking based on it's average annual finance and insurance employment growth rate over 2010-2017.
51% of the United States' states, 26 of 51, are characterized here as Lagging (). Those states ranked by their long-term average include:
   
 
United States
Finance and Insurance Employment Growth
State vs. Nationwide Average
 
2010-2017
 
2017
 
 
Leading States
 
1
2.83
 
2
5.73
249,822
 
3
2.46
 
4
4.52
711,143
 
15
1.36
 
16
3.47
255,639
 
7
1.96
 
8
3.95
270,718
 
11
1.62
 
1
7.29
38,821
 
2
2.66
 
7
3.97
1,033,312
 
14
1.38
 
5
4.29
132,548
 
8
1.91
 
11
3.74
228,664
 
4
2.21
 
14
3.51
18,097
Slipping States
 
5
2.04
 
22
3.01
60,949
 
6
2.00
 
21
3.03
26,815
 
9
1.88
 
20
3.10
294,762
 
12
1.53
 
29
2.60
105,373
 
10
1.73
 
30
2.56
936,314
 
13
1.53
 
47
1.26
27,717
Gaining States
 
16
1.35
 
10
3.84
219,951
 
19
1.22
 
6
4.22
42,627
 
30
0.93
 
17
3.46
221,825
 
28
1.04
 
12
3.68
200,058
 
38
0.50
 
3
4.63
92,442
 
32
0.88
 
9
3.89
353,298
 
21
1.14
 
13
3.55
354,229
 
37
0.58
 
15
3.47
98,228
 
18
1.32
 
19
3.18
183,438
 
35
0.69
 
18
3.31
172,734
Lagging States
 
29
1.03
 
28
2.67
114,796
 
44
0.11
 
49
1.16
11,565
 
24
1.12
 
37
2.18
62,131
 
20
1.18
 
25
2.92
1,099,286
 
47
0.08
 
45
1.76
199,063
 
48
0.05
 
27
2.67
30,862
 
41
0.38
 
31
2.53
506,423
 
34
0.70
 
39
2.05
154,399
 
31
0.89
 
42
1.98
135,557
 
22
1.12
 
46
1.71
109,497
 
17
1.35
 
34
2.30
111,058
 
49
-0.07
 
40
2.03
33,612
 
42
0.28
 
48
1.20
169,972
 
23
1.12
 
36
2.30
289,322
 
39
0.47
 
43
1.93
58,063
 
46
0.10
 
38
2.11
26,022
 
27
1.08
 
32
2.47
85,447
 
36
0.67
 
51
-3.65
43,602
 
43
0.18
 
23
2.95
36,737
 
25
1.09
 
35
2.30
106,151
 
33
0.81
 
24
2.93
414,519
 
26
1.08
 
26
2.89
115,287
 
40
0.39
 
44
1.79
40,641
 
45
0.11
 
33
2.43
14,446
 
51
-0.86
 
50
0.61
26,523
 
50
-0.17
 
41
2.01
185,695
 
 
 
 
 
 
 
 
 
1.36
 
3.17
10,510,200
March 2019
REAP_PI_SA1500N_511000_LSGL
 
   
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