Chamber Launches Recovery Dashboard
At the Chamber, we like to make data-driven decisions when it comes to developing strategies for economic opportunity in the greater Federal Way area of the South Puget Sound. And one of the sharpest economic tools for business growth at the FedWay Chamber is data.
For the past few years, we’ve been working on various components of our data storytelling, from an overview of the economy to the impact of key WA industries in the greater Federal Way region.
Following the disruption of the pandemic, the Chamber wanted a way to understand and communicate the various vectors of impact and rebound, especially on the brick and mortar businesses in the community and the workers themselves. We’ve just launched an Economic Recovery Dashboard with 10 key indicators, updated monthly including:
- Small Businesses Open (monthly % change vs. 2019)
- Small Businesses Revenue (monthly % change vs. 2019)
- Foot Traffic by Location Visited (% change vs. pre-covid)
- Employment change
- Job Postings by Sector (monthly % change vs. 2019)
- Job Postings 30-day Trend (% change vs. 2019)
Because we understand that we are part of a economic inflow/outflow that is interconnected, we look at statistics a number of ways, tracking data monthly, quarterly, and annually for industries in Federal Way as well as King and Pierce counties and the state of Washington. Our workforce is mobile and our businesses are both resilient and innovative.
Change is afoot and with data, and we have the roadmap we need to new discovery.