WSNCT Service AreaEconomy Overview WSNCT Service Area 600 Six Flags Drive, Suite 300 Arlington,...
Transcript of WSNCT Service AreaEconomy Overview WSNCT Service Area 600 Six Flags Drive, Suite 300 Arlington,...
Economy Overview
WSNCT Service Area
600 Six Flags Drive, Suite 300
Arlington, Texas 76005
Emsi Q2 2020 Data Set | www.economicmodeling.com
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com
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Contents
Report Parameters
Economy Overview
Historic & Projected Trends
Popula on Characteris cs
Industry Characteris cs
Business Characteris cs
Workforce Characteris cs
Educa onal Pipeline
In-Demand Skills
Appendix A (Geographies)
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com
14 Coun es
Class of Worker
QCEW Employees, Non-QCEW Employees, and Self-Employed
The informa on in this report pertains to the chosen geographical areas.
Report Parameters
48085 Collin County, TX
48121 Denton County, TX
48139 Ellis County, TX
48143 Erath County, TX
48221 Hood County, TX
48231 Hunt County, TX
48251 Johnson County, TX
48257 Kaufman County, TX
48349 Navarro County, TX
See Appendix A for all 14 Coun es
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 1
Economy Overview
Takeaways
As of 2019 the region's popula on increased by 15.5% since 2014, growing by 404,011. Popula on is expected to increase by
9.9% between 2019 and 2024, adding 296,484.
From 2014 to 2019, jobs increased by 18.8% in WSNCT Service Area from 964,219 to 1,145,840. This change outpaced the
na onal growth rate of 7.6% by 11.2%. As the number of jobs increased, the labor force par cipa on rate increased from
65.6% to 67.4% between 2014 and 2019.
Concerning educa onal a ainment, 25.3% of the selected regions' residents possess a Bachelor's Degree (6.5% above the
na onal average), and 7.5% hold an Associate's Degree (0.6% below the na onal average).
The top three industries in 2019 are Restaurants and Other Ea ng Places, Educa on and Hospitals (Local Government), and
Computer Systems Design and Related Services.
3,008,708 1,145,840 $64.1KPopula on (2019) Total Regional Employment Avg. Earnings Per Job (2019)
Popula on grew by 404,011 overthe last 5 years and is projected togrow by 296,484 over the next 5
years.
Jobs grew by 181,621 over thelast 5 years and are projected to
grow by 156,387 over the next 5years.
Regional average earnings per jobare $4.4K below the na onal
average earnings of $68.5K perjob.
Region 3,008,708 1,607,851 1,145,840 96.9 $145.93B $166.76B $113.93B
16-County Region 7,797,634 4,090,334 4,056,574 98.0 $552.79B $330.56B $400.84B
Na on 329,399,330 163,493,315 165,144,952 100.0 $21.00T $0 $8.96T
Popula on(2019)
LaborForce
(2019) Jobs (2019)
Costof
Living GRP Imports Exports
Economy Overview
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2019 Labor Force Breakdown
Popula on
3,008,708
Educa onal A ainment
Concerning educa onal a ainment, 25.3% of the selected regions' residents possess a Bachelor's Degree (6.5% above the
na onal average), and 7.5% hold an Associate's Degree (0.6% below the na onal average).
Popula on
A Total Working Age Popula on 2,386,394
A Not in Labor Force (15+) 778,543
A Labor Force 1,607,851
A Employed 1,563,226
A Unemployed 44,625
A Under 15 622,314
% of Popula on Popula on
A Less Than 9th Grade 5.8% 114,223
A 9th Grade to 12th Grade 4.7% 93,657
A High School Diploma 21.3% 423,002
A Some College 22.3% 442,163
A Associate's Degree 7.5% 149,420
A Bachelor's Degree 25.3% 503,192
A Graduate Degree and Higher 13.1% 259,822
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 3
Historic & Projected Trends
Popula on Trends
As of 2019 the region's popula on increased by 15.5% since 2014, growing by 404,011. Popula on is expected to increase by
9.9% between 2019 and 2024, adding 296,484.
2014 2,604,698
2015 2,681,820
2016 2,763,119
2017 2,846,899
2018 2,937,881
2019 3,008,708
2020 3,078,688
2021 3,143,005
2022 3,201,986
2023 3,255,956
2024 3,305,192
Timeframe Popula on
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 4
Job Trends
From 2014 to 2019, jobs increased by 18.8% in WSNCT Service Area from 964,219 to 1,145,840. This change outpaced the
na onal growth rate of 7.6% by 11.2%.
2014 964,219
2015 1,006,411
2016 1,039,301
2017 1,078,998
2018 1,115,821
2019 1,145,840
2020 1,190,339
2021 1,227,126
2022 1,258,275
2023 1,285,163
2024 1,302,227
Timeframe Jobs
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 5
Labor Force Par cipa on Rate Trends
2015 65.81%
2016 66.56%
2017 66.78%
2018 66.64%
2019 66.33%
January 2020 65.56%
February 2020 65.98%
March 2020 64.86%
Timeframe Labor Force Par cipa on Rate
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 6
Unemployment Rate Trends
Your areas had a March 2020 unemployment rate of 4.13%, increasing from 3.80% 5 years before.
2015 3.80%
2016 3.69%
2017 3.49%
2018 3.29%
2019 3.08%
January 2020 3.15%
February 2020 3.05%
March 2020 4.13%
Timeframe Unemployment Rate
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 7
Your area has 605,368 millennials
(ages 25-39). The na onal average
for an area this size is 603,990.
Re rement risk is low in your area.
The na onal average for an area
this size is 850,417 people 55 or
older, while there are 702,934
here.
Racial diversity is about average in
your area. The na onal average for
an area this size is 1,163,964
racially diverse people, while there
are 1,120,848 here.
Your area has 149,153 veterans.
The na onal average for an area
this size is 167,126.
Your area has 1.89 violent crimes
per 1,000 people. The na onal
rate is 3.87 per 1,000 people.
Your area has 14.63 property
crimes per 1,000 people. The
na onal rate is 22.98 per 1,000
people.
Popula on Characteris cs
605,368
Millennials
702,934
Re ring Soon
1.12M
Racial Diversity
149,153
Veterans
1.89/1,000
Violent Crime
14.63/1,000
Property Crime
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 8
Where Talent Works Where Talent Lives
Place of Work vs Place of Residence
Understanding where talent in the region currently works compared to where talent lives can help you op mize site decisions. For
example, the #1 ranked ZIP for employment ranks #14 for resident workers. The top ZIP for resident workers is 75067.
75024 Plano, TX (in Collin county)… 76,063
75093 Plano, TX (in Collin county)… 66,948
75074 Plano, TX (in Collin county)… 47,209
75075 Plano, TX (in Collin county)… 42,604
75069 Mckinney, TX (in Collin county)… 42,539
ZIP Name2019
Employment
75067 Lewisville, TX (in Denton county)… 42,502
75002 Allen, TX (in Collin county)… 38,385
75035 Frisco, TX (in Collin county)… 37,863
75056 The Colony, TX (in Denton county)… 36,978
76028 Burleson, TX (in Johnson county)… 36,936
ZIP Name2019
Workers
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 9
Industry Characteris cs
Largest Industries
Industry Jobs Na onal Average
0 50,000 100,000 150,000
Government
Retail Trade
Health Care and Social Assistance
Accommoda on and Food Services
Manufacturing
Professional, Scien fic, and Technical Services
Construc on
Other Services (except Public Administra on)
Finance and Insurance
Administra ve and Support and Waste Management andRemedia on Services
Wholesale Trade
Transporta on and Warehousing
Informa on
Real Estate and Rental and Leasing
Arts, Entertainment, and Recrea on
Educa onal Services
Management of Companies and Enterprises
Mining, Quarrying, and Oil and Gas Extrac on
Agriculture, Forestry, Fishing and Hun ng
U li es
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 10
Top Growing Industries
Industry Jobs Growth
0 5,000 10,000 15,000 20,000
Accommoda on and Food Services
Government
Professional, Scien fic, and Technical Services
Health Care and Social Assistance
Construc on
Retail Trade
Finance and Insurance
Manufacturing
Transporta on and Warehousing
Other Services (except Public Administra on)
Administra ve and Support and Waste Management andRemedia on Services
Real Estate and Rental and Leasing
Management of Companies and Enterprises
Wholesale Trade
Arts, Entertainment, and Recrea on
Educa onal Services
Informa on
Agriculture, Forestry, Fishing and Hun ng
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 11
Top Industry LQ
Industry LQ
0.00 1.00
Mining, Quarrying, and Oil and Gas Extrac on
Finance and Insurance
Construc on
Other Services (except Public Administra on)
Retail Trade
Real Estate and Rental and Leasing
Informa on
Accommoda on and Food Services
Professional, Scien fic, and Technical Services
Manufacturing
Government
U li es
Wholesale Trade
Arts, Entertainment, and Recrea on
Management of Companies and Enterprises
Transporta on and Warehousing
Administra ve and Support and Waste Management andRemedia on Services
Health Care and Social Assistance
Educa onal Services
Agriculture, Forestry, Fishing and Hun ng
Economy Overview
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Top Industry GRP
2019 Gross Regional Product
$0.000 $5.000B $10.00B $15.00B
Finance and Insurance
Manufacturing
Professional, Scien fic, and Technical Services
Government
Wholesale Trade
Health Care and Social Assistance
Retail Trade
Informa on
Construc on
Mining, Quarrying, and Oil and Gas Extrac on
Real Estate and Rental and Leasing
Administra ve and Support and Waste Management andRemedia on Services
Accommoda on and Food Services
Transporta on and Warehousing
Other Services (except Public Administra on)
Management of Companies and Enterprises
U li es
Agriculture, Forestry, Fishing and Hun ng
Arts, Entertainment, and Recrea on
Educa onal Services
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 13
Top Industry Earnings
2019 Earnings Per Worker
$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000
Management of Companies and Enterprises
U li es
Informa on
Mining, Quarrying, and Oil and Gas Extrac on
Finance and Insurance
Professional, Scien fic, and Technical Services
Manufacturing
Wholesale Trade
Construc on
Real Estate and Rental and Leasing
Government
Transporta on and Warehousing
Health Care and Social Assistance
Administra ve and Support and Waste Management andRemedia on Services
Agriculture, Forestry, Fishing and Hun ng
Retail Trade
Arts, Entertainment, and Recrea on
Educa onal Services
Other Services (except Public Administra on)
Accommoda on and Food Services
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 14
Government 139,781 162,206 22,425 +16% 0.95 $63,600 $11.08B
Retail Trade 115,596 130,914 15,318 +13% 1.16 $38,607 $8.51B
Health Care and SocialAssistance
100,237 118,574 18,337 +18% 0.81 $58,997 $8.69B
Accommoda on and FoodServices
86,499 109,476 22,977 +27% 1.11 $22,894 $3.96B
Manufacturing 79,209 90,053 10,844 +14% 0.99 $94,584 $15.83B
Professional, Scien fic, andTechnical Services
64,269 82,906 18,637 +29% 1.09 $96,867 $12.33B
Construc on 60,881 79,108 18,227 +30% 1.21 $64,408 $7.30B
Other Services (except PublicAdministra on)
53,832 62,632 8,800 +16% 1.16 $31,865 $2.90B
Finance and Insurance 46,621 60,415 13,794 +30% 1.32 $111,271 $16.12B
Administra ve and Support andWaste Management andRemedia on Services
54,098 59,644 5,546 +10% 0.84 $52,269 $4.37B
Wholesale Trade 34,643 38,486 3,843 +11% 0.92 $91,107 $9.19B
Transporta on and Warehousing 27,658 37,560 9,902 +36% 0.87 $61,804 $3.82B
Informa on 20,810 23,319 2,509 +12% 1.12 $117,047 $8.38B
Real Estate and Rental andLeasing
17,820 22,249 4,429 +25% 1.14 $64,043 $5.56B
Arts, Entertainment, andRecrea on
14,622 18,353 3,731 +26% 0.91 $34,628 $1.15B
Educa onal Services 12,254 15,422 3,168 +26% 0.52 $34,297 $671.51M
Management of Companies andEnterprises
10,537 14,797 4,260 +40% 0.89 $146,963 $2.81B
Mining, Quarrying, and Oil andGas Extrac on
14,987 9,103 -5,884 -39% 1.88 $111,435 $6.22B
Agriculture, Forestry, Fishing andHun ng
5,955 6,240 285 +5% 0.47 $39,354 $1.26B
U li es 3,645 3,597 -48 -1% 0.93 $132,397 $1.75B
Industry2014Jobs
2019Jobs Change in Jobs
%Changein Jobs
2019LQ
2019 EarningsPer Worker 2019 GRP
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 15
Business Characteris cs
201,815 Companies Employ Your Workers
Online profiles for your workers men on 201,815 companies as employers, with the top 10 appearing below. In the last 12
months, 24,049 companies in your area posted job pos ngs, with the top 10 appearing below.
Wal-Mart Stores, Inc. 4,719
Bank of America Corpora on 4,590
University of North Texas 3,631
AT&T Inc. 3,576
JPMorgan Chase & Co. 2,701
Texas Health Resources 2,484
Raytheon Company 2,404
J.C. Penney Corpora on, Inc. 2,363
Capital One Financial Corpora on 2,209
Verizon Communica ons Inc. 2,110
Top Companies Profiles
CRST Interna onal, Inc. 7,533
JPMorgan Chase & Co. 5,341
HealthCare Employment Network… 4,774
United Services Automobile Associa on… 4,266
C.R. England, Inc. 3,530
Care.com, Inc. 3,276
Raytheon Company 2,953
HCA Holdings, Inc. 2,790
Oracle Corpora on 2,753
N Data, Inc. 2,587
Top Companies Pos ng Unique Pos ngs
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 16
Business Size
*Business Data by DatabaseUSA.com is third-party data provided by Emsi to its customers as a convenience, and Emsi does not endorse or warrant its
accuracy or consistency with other published Emsi data. In most cases, the Business Count will not match total companies with profiles on the summary
tab.
Percentage Business Count
A 1 to 4 employees 30.8% 23,880
A 5 to 9 employees 29.7% 22,993
A 10 to 19 employees 22.6% 17,503
A 20 to 49 employees 12.7% 9,847
A 50 to 99 employees 2.7% 2,090
A 100 to 249 employees 1.1% 847
A 250 to 499 employees 0.2% 179
A 500+ employees 0.1% 101
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 17
Workforce Characteris cs
Largest Occupa ons
Occupa on Jobs Na onal Average
0 50,000 100,000 150,000
Office and Administra ve Support
Sales and Related
Food Prepara on and Serving Related
Educa on, Training, and Library
Transporta on and Material Moving
Construc on and Extrac on
Management
Produc on
Business and Financial Opera ons
Healthcare Prac oners and Technical
Computer and Mathema cal
Installa on, Maintenance, and Repair
Personal Care and Service
Building and Grounds Cleaning and Maintenance
Healthcare Support
Arts, Design, Entertainment, Sports, and Media
Protec ve Service
Architecture and Engineering
Community and Social Service
Legal
Life, Physical, and Social Science
Farming, Fishing, and Forestry
Military-only
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 18
Top Growing Occupa ons
Occupa on Jobs Growth
0 5,000 10,000 15,000 20,000
Office and Administra ve Support
Food Prepara on and Serving Related
Sales and Related
Business and Financial Opera ons
Transporta on and Material Moving
Management
Educa on, Training, and Library
Computer and Mathema cal
Construc on and Extrac on
Personal Care and Service
Healthcare Prac oners and Technical
Installa on, Maintenance, and Repair
Produc on
Building and Grounds Cleaning and Maintenance
Arts, Design, Entertainment, Sports, and Media
Healthcare Support
Community and Social Service
Protec ve Service
Architecture and Engineering
Legal
Life, Physical, and Social Science
Farming, Fishing, and Forestry
Military-only
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 19
Top Occupa on LQ
Occupa on LQ
0.00 1.00
Computer and Mathema cal
Educa on, Training, and Library
Construc on and Extrac on
Food Prepara on and Serving Related
Sales and Related
Office and Administra ve Support
Arts, Design, Entertainment, Sports, and Media
Installa on, Maintenance, and Repair
Building and Grounds Cleaning and Maintenance
Business and Financial Opera ons
Management
Transporta on and Material Moving
Produc on
Architecture and Engineering
Healthcare Prac oners and Technical
Healthcare Support
Personal Care and Service
Community and Social Service
Protec ve Service
Legal
Life, Physical, and Social Science
Farming, Fishing, and Forestry
Military-only
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 20
Top Occupa on Earnings
2018 Median Hourly Earnings
$0.00 $10.00 $20.00 $30.00 $40.00
Management
Computer and Mathema cal
Legal
Architecture and Engineering
Business and Financial Opera ons
Healthcare Prac oners and Technical
Life, Physical, and Social Science
Educa on, Training, and Library
Community and Social Service
Protec ve Service
Arts, Design, Entertainment, Sports, and Media
Installa on, Maintenance, and Repair
Construc on and Extrac on
Office and Administra ve Support
Transporta on and Material Moving
Produc on
Military-only
Healthcare Support
Sales and Related
Building and Grounds Cleaning and Maintenance
Farming, Fishing, and Forestry
Personal Care and Service
Food Prepara on and Serving Related
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 21
Top Posted Occupa ons
Unique Average Monthly Pos ngs
0 2,000 4,000 6,000 8,000 10,000 12,000
Sales and Related
Transporta on and Material Moving
Computer and Mathema cal
Healthcare Prac oners and Technical
Office and Administra ve Support
Management
Food Prepara on and Serving Related
Business and Financial Opera ons
Installa on, Maintenance, and Repair
Personal Care and Service
Architecture and Engineering
Produc on
Educa on, Training, and Library
Healthcare Support
Arts, Design, Entertainment, Sports, and Media
Building and Grounds Cleaning and Maintenance
Construc on and Extrac on
Protec ve Service
Community and Social Service
Legal
Life, Physical, and Social Science
Farming, Fishing, and Forestry
Military-only
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 22
Underemployment
Jobs Requiring Ed. Level Popula on at Ed. Level
0% 10% 20% 30% 40%
No Formal Educa on Required
High School Diploma or Equivalent
Some College, Non-Degree Award
Associate's Degree
Bachelor's Degree
Graduate Degree and Higher
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 23
Office andAdministra ve Support
150,513 172,101 21,588 +14% 1.05 $16.65 8,589
Sales and Related 110,864 127,795 16,931 +15% 1.13 $13.59 12,449
Food Prepara on andServing Related
87,280 108,292 21,012 +24% 1.14 $9.66 6,194
Educa on, Training, andLibrary
68,081 79,020 10,939 +16% 1.22 $24.60 1,740
Transporta on andMaterial Moving
59,400 72,025 12,625 +21% 0.91 $16.39 11,793
Construc on andExtrac on
52,686 62,152 9,466 +18% 1.16 $17.95 814
Management 48,239 60,844 12,605 +26% 0.93 $45.58 7,773
Produc on 54,325 60,381 6,056 +11% 0.91 $15.67 1,895
Business and FinancialOpera ons
43,802 56,803 13,001 +30% 0.94 $34.00 5,041
Healthcare Prac onersand Technical
46,539 55,362 8,823 +19% 0.87 $31.24 8,667
Computer andMathema cal
35,170 45,638 10,468 +30% 1.36 $43.46 10,938
Installa on,Maintenance, and Repair
38,387 45,059 6,672 +17% 1.01 $19.85 3,044
Personal Care andService
34,215 43,455 9,240 +27% 0.85 $9.87 2,634
Building and GroundsCleaning andMaintenance
34,134 39,178 5,044 +15% 0.95 $11.79 1,173
Healthcare Support 23,480 26,732 3,252 +14% 0.87 $13.92 1,691
Arts, Design,Entertainment, Sports,and Media
17,267 21,351 4,084 +24% 1.03 $20.69 1,177
Protec ve Service 15,987 18,466 2,479 +16% 0.72 $21.76 696
Architecture andEngineering
15,022 17,286 2,264 +15% 0.90 $40.27 2,109
Occupa on2014Jobs
2019Jobs Change in Jobs
%Changein Jobs
2019LQ
2018 MedianHourly Earnings
May 2019 - Apr2020 Unique
Average MonthlyPos ngs
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 24
Community andSocial Service
12,567 15,247 2,680 +21% 0.79 $23.76 617
Legal 5,457 6,731 1,274 +23% 0.71 $42.66 306
Life, Physical, andSocial Science
4,242 4,738 496 +12% 0.51 $30.74 285
Farming, Fishing,and Forestry
3,752 4,190 438 +12% 0.49 $10.42 37
Military-only 2,810 2,992 182 +6% 0.46 $14.71 4
Occupa on2014Jobs
2019Jobs Change in Jobs
%Changein Jobs
2019LQ
2018 MedianHourly Earnings
May 2019 - Apr 2020Unique Average Monthly
Pos ngs
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 25
Educa onal Pipeline
In 2018, there were 27,231 graduates in WSNCT Service Area. This pipeline has grown by 10% over the last 5 years. The highest
share of these graduates come from "Mul -/Interdisciplinary Studies, Other", General Studies, and "Business Administra on and
Management, General".
Cer ficate Associate's Bachelor's Master's or Higher
University of North Texas 9,347
Texas Woman's University 3,909
Texas A & M University-Commerce 3,515
Collin County Community College District 3,491
Tarleton State University 3,120
Navarro College 1,545
Weatherford College 1,007
Southwestern Assemblies of GodUniversity
730
Southwestern Adven st University 188
Toni & Guy Hairdressing Academy-Plano 164
SchoolTotal Graduates
(2018)Graduate Trend (2014 -
2018)
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 26
In-Demand Skills
Top Hard Skills Na onal Average
0 10,000 20,000 30,000 40,000 50,000
Merchandising
Restaurant Opera on
Selling Techniques
Audi ng
Accoun ng
Nursing
Agile So ware Development
Customer Experience
SQL (Programming Language)
Java (Programming Language)
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 27
Appendix A (Geographies)
48085 Collin County, TX
48121 Denton County, TX
48139 Ellis County, TX
48143 Erath County, TX
48221 Hood County, TX
48231 Hunt County, TX
48251 Johnson County, TX
Code Descrip on
48257 Kaufman County, TX
48349 Navarro County, TX
48363 Palo Pinto County, TX
48367 Parker County, TX
48397 Rockwall County, TX
48425 Somervell County, TX
48497 Wise County, TX
Code Descrip on
Economy Overview
Emsi Q2 2020 Data Set | www.economicmodeling.com 28