California’s Creative Economy
Creative Economy’s
Current Summary
What is the Creative Economy?
The Creative Economy is defined by industries deemed expressive, artistic, and cultural. The crosswalk was defined at Beacon Economics, dividing the Creative Economy into 6 different sectors.
Architecture & Related Services
Fashion
Creative Goods and Products (CGP), exclusive of Fashion
Entertainment
Fine Arts, including Performance and Artistic Institutions
Media, including Digital Publishing
Figure 1: Subsector share breakdown by industry metrics
As we can see here, the Media & Digital Media takes up the largest shares in all three industry metrics. Entertainment is a clear cut second in this race and the other sectors fill in the remaining.
Figure 2: Creative Economy’s indexed growth is greater than California’s.
The Creative Economy’s indexed employment growth was greater than CA’s
Figure 1: Creative Economy’s indexed wage per worker growth has been greater than California’s
The Creative Economy’s indexed wage per employee growth was greater than CA’s
However, the Creative Economy’s indexed wage per establishment went down more than California’s
Creative Economy
Sectors’ Breakdown
Most sectors see COVID’s impact on employment growth, however some sectors like Fashion see an already previously declining trend.
Figure 6: Sector’s indexed employment growth breakdown
Figure 6: Indexed wages per employee breakdown
The Media & Digital Media sector was the only sector that saw a strong resiliency to COVID’s impact.
Employment per establishment’s trend also was not impacted, significantly.
Figure 8: Indexed employees per establishment breakdown
Digital Publishing, Information Services, and Sound Recording all grew despite the pandemic.
These product groups that make up the sector were analyzed based on their employment growth’s resiliency to the pandemic.
Figure 9: Percent employee change by product groups
Many more product groups were resilient in growth in wage per employment rather than employment growth.
Wages per employment changes were also noted for their trend pre and post pandemic.
Figure 10: Percent wage per employment change by product group
It seems trends were clustered to be more positive in Northern California versus Southern California for Media and Publishing product groups.
We also clustered by county to see whether trends identified were focused in different California regions.