"Running Head: ECONOMIC BASE ANALYSIS OF BROWARD COUNTY, FLORIDA 9Figure 4: percentage share of annual payroll by industry in Broward County, Florida in 2014Percentage Annual Payroll by Industry In BrowardCounty, 2014 Agriculture, forestry, fis … 16.0000% Industries not classified Mining, quarrying, and… 14.0000% Other services (except… Construction 12.0000% 10.0000% Accommodation and… Manufacturing 8.0000% 6.0000% Arts, entertainment, an … Wholesale trade 4.0000% 2.0000% 0.0000% Health care and social… Retail trade Educational services Transportation and… Administrative and… Information Management of… Finance and insurance Professional, scientific, a … Real estate and rental… For Broward County, the Annual Payroll by industry is in a way related to the percentage shareof the sector in the employment. The bigger contributors to the payroll all have a moresignificant share of the total jobs in the County. The results can be directly seen in the chartwhere the Professional, scientific, and technical services are considered to be a great contributorto the payroll but also, the percentage share of the number of those employed in this sector arerelatively larger than the other areas.Running Head: ECONOMIC BASE ANALYSIS OF BROWARD COUNTY, FLORIDA 10Figure 5: annual payroll by industry per employee in Florida and Leon County in 2014Annual Payroll per Employee By Industry, 2014 120 100 80 60 40 20 0 Industry State of Florida Broward County The Figure 5 shows the annual payroll by industry in both Broward County and the state ofFlorida, per individual employee.The result was arrived at by dividing the annual payment($1000) for each industry by the total number of paid employees in that industry.The annualpayroll for almost every sector is slightly less in Broward County than in the state, with fourexceptions: the wholesale trade sector, the information sector, the real estate and leasing sectorand the educational services.The graph sheds some light to the limitation to this method.Thepercentage shares of annual payroll by industry per employee assume all jobs and titles within anindustry to be having the same payroll(Fournier & Mercier, 2009).However, this method wouldbe more efficient in finding the median annual payroll per employee within an industry.Anotherlimitation exists for the graph does not compute the region’s cost of living.Broward County hasa relatively low cost of living compared to many other counties in Florida.Though the annualAnnual Payroll Per Employee ($1000) Agriculture, forestry, fishi … Mining, quarrying, and oil… Utilities Construction Manufacturing Wholesale trade Retail trade Transportation and… Information Finance and insurance Real estate and rental… Professional, scientific, an … Management of… Administrative and… Educational services Health care and social… Arts, entertainment, and… Accommodation and food… Other services (except… Industries not classifiedRunning Head: ECONOMIC BASE ANALYSIS OF BROWARD COUNTY, FLORIDA 11salaries per employee are lower in Broward County, the value of each payroll might notnecessarily be so.Economic Base Analysis Section IIITable 1: assumption approach for the state of Florida in 2014Assumption Approach: Employment by Sector in Florida 2014("U.S. Bureau of LaborStatistics", 2016)Industry Location Quotient Basic Employment Non BasicEmploymentBase Industry:Total 7,005,9031.00Total, all industriesNAICS 11 2219 73980Agriculture,1.03forestry, fishing andhuntingNAICS 21 Mining,4,093quarrying, and oil 0.09and gas extraction0.6822,456NAICS 22 UtilitiesNAICS 23 49630 3817731.13ConstructionNAICS 31-33 0.47342,380 Running Head: ECONOMIC BASE ANALYSIS OF BROWARD COUNTY, FLORIDA 12ManufacturingNAICS 42334,7260.96Wholesale tradeNAICS 44-45 Retail 157168 9245181.17trade 507,126NAICS 54Professional and 0.99technical servicesNAICS 5596,803Management of0.74companies andenterprisesNAICS 56 98764 519810Administrative and 1.19waste servicesNAICS 61146,0170.91Educational servicesNAICS 62 Health1,038,791care and social 0.95assistanceNAICS 48-49237,9480.87Transportation andwarehousing "