| Acronym | Definition |
|---|---|
| LQ | Last Quarter |
| LQ | Limited Quantity |
| LQ | Laser Quest (laser tag centers) |
| LQ | Lover's Quarrel |
Citation
"LQ." Abbreviations.com. STANDS4 LLC, 2021. Web. 25 Aug. 2021. < https://www.abbreviations.com/LQ >.
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How to use location quotient?
The basic uses of location quotient include: 1 Determining local or regional specialization. Here LQ is remarkably effective at quickly identifying those industries or occupations that stand out because of their higher than average per capita employment. This is what makes your economy unique. 2 Identifying the region’s export industries. Industries with a high LQ are often those that are exporting a lot of goods and services out of the community and are therefore net-importers of valuable dollars. 3 Identifying endangered export industries that could erode the region’s economic base. 4 Identifying industries and occupations that are below equilibrium in the economy and that might be fighting to gain balance.
Why are export industries important?
Industries with a high LQ are typically (but not always) export industries, which are important because they bring money into the region, rather than circulating local dollars around the economy (which is more typical for retail or restaurants). Occupations with a high LQ are important because they are generally employed by high-LQ industries ...
What does a high LQ mean?
A high LQ signals high concentration, but the concentration’s impact on the regional economy depends on the number of jobs actually present in the economy. A positive or negative change in an industry’s LQ will be much more indicative of the economy’s health if the industry also employs a lot of people.
When will Boeing's LQ drop?
Considering the recent malfunctions with Boeing 737s that have resulted in hundreds of grounded airplanes, Boeing’s LQ threatens to continue to drop in 2020 (in the last three years, aircraft manufacturing LQ dropped from 22.54 to 21.32).
Why are high LQ occupations important?
Occupations with a high LQ are important because they are generally employed by high-LQ industries and thus provide a workforce-oriented perspective of the region’s economic base. Such occupations are vital for the continued prosperity of the region.
Why is LQ important?
Sometimes they’re obvious — like software publishing in Seattle or tourist attractions in Orlando. LQ helps establish the importance of these well-known industries so you can focus on nurturing their drive in your economy. In other cases, LQ helps reveal industries or occupations that you might not be as aware of, like greeting card publishers in Boulder, CO, or chocolate manufacturing in Topeka, KS.
Why is location quotient important in higher education?
This is because an awareness of the region’s high-LQ industries and occupations can help colleges and universities focus on developing programs that align to high impact industries and the occupations that they need.
