EconoVue™EconoVue™
January, 2022
State Vue – Impact of the Great Job Shift
The labor market is experiencing historic change. The change ranges from a seismic workplace shift, high quit rates and resignations to the lowest unemployment numbers in decades.
But it is this recent shift to remote work that has put contact businesses – those that require customers or their workforce to be in a central location – at risk of failure. Business failure risk is defined as the High/Medium/Low probability of “financial stress” (i.e., failure or closure with outstanding debt) over the next 12 months.
A nationwide Vue of Dun & Bradstreet® data indicates there are 223,000 businesses at risk spread across the United States, with the lowest risk in the Midwest.
Interestingly, a State Vue of high-risk contact businesses shows a very different story. Of the 87,000 contact businesses nationwide at risk, the highest concentration is in the Midwest. The top 5 states at high risk are North Dakota, Iowa, Nebraska, Kansas, and Minnesota. Key sectors impacted largely span mining (especially in ND), manufacturing, and retail, depending upon the state.
The shift in the workplace and the resulting risk are significant. So, workforce development boards across the nation should prioritize contacting businesses for targeted outreach.
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EconoVue™ is your window to business and workforce insight.
Founded in Silicon Valley in 1999, and now based in Arlington, VA, EconoVue, Inc. is a woman-owned small business with a single mission: to help our clients visualize data and gain actionable insight into the past, present and future of their local and regional economies and workforce.
Originally founded as The Urban Explorer, Inc, a boutique consulting firm designing interactive GIS tools for economic development, land use planning and urban design, we heard a common theme from our customers: “Help us analyze today and help us predict tomorrow.” We found ourselves replicating the same steps of geospatial economic analysis studies, so rather than reinvent the wheel every time, we decided to invent it just once and automate the process via a single platform, and EconoVue™ was born.
The millions of businesses that comprise the U.S. economy and workforce are constantly in motion. Our agile approach to solution design is highly collaborative with the “end-user”, constantly evolving to meet the growing needs and creativity of our clients as they try to extract insight from data chaos.
Working with our data partners, public sources and our great collaborative clients, we continue to expand EconoVue™ to meet new needs, including Economic Development, Transportation and Custom Analysis. Our design philosophy is to produce innovative, actionable data insight tools, in a modular application platform that is iterative and easily adaptive to meet the ever-changing information needs of our clients.
