Economy Overview. Eagle County, CO. Emsi Q Data Set

Transcription

1 Eagle County, CO Emsi Q Data Set

2 Contents. Economy Overview Historic &.. Projected Trends Popula on Characteris cs Industry Characteris cs Business Characteris cs Workforce Characteris cs Educa onal Pipeline Emsi Q Data Set

3 Economy Overview 55,353 36,173 $78.8K Popula on (2018) Jobs (2018) Median Household Income (2016) Popula on grew by 2,666 over the last 5 years and is projected to grow by 2,217 over the next 5 years. Jobs grew by 3,925 over the last 5 years and are projected to grow by 3,054 over the next 5 years. Median household income is $23.4K above the na onal median household income of $55.3K. As of 2018 the region's popula on increased by 5.1% since 2013, growing by 2,666. Popula on is expected to increase by 4.0% between 2018 and 2023, adding 2,217. From 2013 to 2018, jobs increased by 12.2% in Eagle County, CO from 32,248 to 36,173. This change outpaced the na onal growth rate of 7.4% by 4.8%. As the number of jobs increased, the labor force par cipa on rate increased from 74.8% to 79.8% between 2013 and Concerning educa onal a ainment, 32.5% of Eagle County, CO residents possess a Bachelor's Degree (13.8% above the na onal average), and 8.9% hold an Associate's Degree (0.9% above the na onal average). The top three industries in 2018 are Restaurants and Other Ea ng Places, Other Amusement and Recrea on Industries, and Traveler Accommoda on. Popula on (2018) Labor Force (2018) Jobs (2018) Cost of Living GRP Imports Exports Region 55,353 36,125 36, $3.41B $3.79B $3.47B State 5,688,190 3,126,240 2,986, $340.73B $236.94B $289.10B Emsi Q Data Set 1

4 Economy Overview - Cont Labor Force Breakdown Popula on A Total Working Age Popula on 45,244 A Not in Labor Force (15+) 9,119 55,353 Popula on A Labor Force 36,125 A Employed 35,301 A Unemployed 824 A Under 15 10,109 Educa onal A ainment Concerning educa onal a ainment, 32.5% of Eagle County, CO residents possess a Bachelor's Degree (13.8% above the na onal average), and 8.9% hold an Associate's Degree (0.9% above the na onal average). % of Popula on Popula on A Less Than 9th Grade 7.5% 2,917 A 9th Grade to 12th Grade 4.4% 1,718 A High School Diploma 18.5% 7,211 A Some College 15.8% 6,159 A Associate's Degree 8.9% 3,479 A Bachelor's Degree 32.5% 12,636 A Graduate Degree and Higher 12.4% 4,813 Emsi Q Data Set 2

5 Historic & Projected Trends Popula on Trends Economy Overview As of 2018 the region's popula on increased by 5.1% since 2013, growing by 2,666. Popula on is expected to increase by 4.0% between 2018 and 2023, adding 2,217. Timeframe Popula on , , , , , , , , , , ,570 Emsi Q Data Set 3

6 Historic & Projected Trends - Cont. Job Trends Economy Overview From 2013 to 2018, jobs increased by 12.2% in Eagle County, CO from 32,248 to 36,173. This change outpaced the na onal growth rate of 7.4% by 4.8%. Timeframe Jobs , , , , , , , , , , ,227 Emsi Q Data Set 4

7 Historic & Projected Trends - Cont. Labor Force Par cipa on Rate Trends Timeframe Labor Force Par cipa on Rate % % % % % January - April % May % June % July % Emsi Q Data Set 5

8 Historic & Projected Trends - Cont. Unemployment Rate Trends Eagle County, CO had a July 2018 unemployment rate of 2.28%, decreasing from 6.07% 5 years before. Timeframe Unemployment Rate % % % % % January - April % May % June % July % Emsi Q Data Set 6

9 Popula on Characteris cs 11,904 12,861 18,042 Millennials Re ring Soon Racial Diversity Eagle County, CO has 11,904 millennials (ages 20-34). The na onal average for an area this size is 11,344. Re rement risk is low in Eagle County, CO. The na onal average for an area this size is 15,615 people 55 or older, while there are 12,861 here. Racial diversity is low in Eagle County, CO. The na onal average for an area this size is 21,511 racially diverse people, while there are 18,042 here. 1, /1, /1,000 Veterans Violent Crime Property Crime Eagle County, CO has 1,972 veterans. The na onal average for an area this size is 3,284. Eagle County, CO has 1.77 violent crimes per 1,000 people. The na onal rate is 3.75 per 1,000 people. Eagle County, CO has property crimes per 1,000 people. The na onal rate is per 1,000 people. Emsi Q Data Set 7

10 Popula on Characteris cs - Cont. Place of Work vs Place of Residence Understanding where talent in Eagle County, CO currently works compared to where talent lives can help you op mize site decisions. For example, the #1 ranked ZIP for employment ranks #3 for resident workers. The top ZIP for resident workers is High Inbound Commuters High Outbound Commuters Where Talent Works Where Talent Lives ZIP Name 2018 Employment ZIP Name 2018 Workers Vail, CO (in Eagle coun 9, Avon, CO (in Eagle cou 9, Eagle, CO (in Eagle cou 4, Edwards, CO (in Eagle 4, Basalt, CO (in Eagle cou 3, Edwards, CO (in Eagle 8, Basalt, CO (in Eagle co 5, Vail, CO (in Eagle coun 5, Gypsum, CO (in Eagle 3, Avon, CO (in Eagle cou 2,410 Emsi Q Data Set 8

11 Industry Characteris cs Largest Industries Industry Jobs Na onal Average Accommoda on and Food Services Construc on Retail Trade Arts, Entertainment, and Recrea on Government Health Care and Social Assistance Administra ve and Support and Waste Management and Remedia on Services Real Estate and Rental and Leasing Other Services (except Public Administra on) Professional, Scien fic, and Technical Services Transporta on and Warehousing Finance and Insurance Educa onal Services Wholesale Trade Manufacturing Informa on Management of Companies and Enterprises Agriculture, Forestry, Fishing and Hun ng U li es Mining, Quarrying, and Oil and Gas Extrac on 0 2,000 4,000 6,000 Emsi Q Data Set 9

12 Industry Characteris cs - Cont. Top Growing Industries Industry Jobs Growth Construc on d Support and Waste Management and Remedia on Services Accommoda on and Food Services Retail Trade Government Health Care and Social Assistance Real Estate and Rental and Leasing Other Services (except Public Administra on) Transporta on and Warehousing Professional, Scien fic, and Technical Services Educa onal Services Manufacturing Arts, Entertainment, and Recrea on Management of Companies and Enterprises Mining, Quarrying, and Oil and Gas Extrac on Agriculture, Forestry, Fishing and Hun ng Emsi Q Data Set 10

13 Industry Characteris cs - Cont. Top Industry LQ Industry LQ Arts, Entertainment, and Recrea on Real Estate and Rental and Leasing Accommoda on and Food Services Construc on d Support and Waste Management and Remedia on Services Other Services (except Public Administra on) Retail Trade Professional, Scien fic, and Technical Services Government Transporta on and Warehousing Health Care and Social Assistance U li es Educa onal Services Informa on Finance and Insurance Wholesale Trade Agriculture, Forestry, Fishing and Hun ng Management of Companies and Enterprises Manufacturing Mining, Quarrying, and Oil and Gas Extrac on Emsi Q Data Set 11

14 Industry Characteris cs - Cont. Top Industry GRP 2017 Gross Regional Product Accommoda on and Food Services Real Estate and Rental and Leasing Construc on Retail Trade Government Health Care and Social Assistance Professional, Scien fic, and Technical Services Arts, Entertainment, and Recrea on Finance and Insurance d Support and Waste Management and Remedia on Services Wholesale Trade Other Services (except Public Administra on) Manufacturing Informa on Transporta on and Warehousing U li es Educa onal Services Management of Companies and Enterprises Mining, Quarrying, and Oil and Gas Extrac on Agriculture, Forestry, Fishing and Hun ng $0.000 $100.0M $200.0M $300.0M $400.0M $500.0M Emsi Q Data Set 12

15 Industry Characteris cs - Cont. Top Industry Earnings 2018 Earnings Per Worker Management of Companies and Enterprises U li es Finance and Insurance Health Care and Social Assistance Wholesale Trade Informa on Mining, Quarrying, and Oil and Gas Extrac on Professional, Scien fic, and Technical Services Government Construc on Real Estate and Rental and Leasing Manufacturing Transporta on and Warehousing Agriculture, Forestry, Fishing and Hun ng Retail Trade Educa onal Services Accommoda on and Food Services d Support and Waste Management and Remedia on Services Arts, Entertainment, and Recrea on Other Services (except Public Administra on) $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 Emsi Q Data Set 13

16 Industry Characteris cs - Cont. Industry 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2018 Earnings Per Worker 2017 GRP Accommoda on and Food Services 7,374 7, % 2.52 $38,714 $501.44M Construc on 3,122 3, % 1.96 $61,523 $350.98M Retail Trade 3,396 3, % 1.02 $42,929 $270.28M Arts, Entertainment, and Recrea on 3,604 3, % 5.85 $36,807 $183.09M Government 3,134 3, % 0.64 $62,253 $240.08M Health Care and Social Assistance 2,153 2, % 0.55 $78,100 $225.56M Administra ve and Support and Waste Management and Remedia on Services 1,819 2, % 1.04 $38,202 $127.18M Real Estate and Rental and Leasing 1,761 2, % 3.29 $59,063 $397.14M Other Services (except Public Administra on) Professional, Scien fic, and Technical Services 1,557 1, % 1.03 $35,938 $86.51M 1,524 1, % 0.74 $67,565 $185.46M Transporta on and Warehousing % 0.59 $48,497 $50.89M Finance and Insurance % 0.37 $94,765 $140.40M Educa onal Services % 0.48 $39,921 $20.43M Wholesale Trade % 0.33 $71,201 $89.01M Manufacturing % 0.15 $56,576 $78.43M Informa on % 0.43 $69,215 $64.87M Management of Companies and Enterprises Agriculture, Forestry, Fishing and Hun ng % 0.19 $148,073 $16.91M % 0.23 $45,890 $15.72M U li es % 0.50 $113,378 $26.77M Mining, Quarrying, and Oil and Gas Extrac on % 0.15 $68,944 $16.27M Emsi Q Data Set 14

17 Business Characteris cs Business Size Percentage Business Count A 1 to 4 employees 42.7% 1,743 A 5 to 9 employees 23.5% 958 A 10 to 19 employees 18.3% 746 A 20 to 49 employees 12.2% 496 A 50 to 99 employees 2.2% 91 A 100 to 249 employees 0.8% 31 A 250 to 499 employees 0.3% 11 A 500+ employees 0.0% 2 *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. Emsi Q Data Set 15

18 Workforce Characteris cs Top Occupa on Earnings 2017 Avg. Hourly Earnings Top Posted Occupa ons Unique Average Monthly Pos ngs Emsi Q Data Set 16

19 Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Dec Nov 2018 Unique Average Monthly Pos ngs Food Prepara on and Serving Related 4,818 5, % 1.68 $ Sales and Related 4,082 4, % 1.21 $ Office and Administra ve Support Construc on and Extrac on Building and Grounds Cleaning and Maintenance Installa on, Maintenance, and Repair Personal Care and Service 3,943 4, % 0.80 $ ,866 3, % 2.22 $ ,093 3, % 2.28 $ ,606 1, % 1.33 $ ,646 1, % 1.16 $ Management 1,432 1, % 0.80 $ Transporta on and Material Moving Business and Financial Opera ons Educa on, Training, and Library Healthcare Prac oners and Technical Arts, Design, Entertainment, Sports, and Media 1,230 1, % 0.64 $ ,251 1, % 0.78 $ ,238 1, % 0.70 $ ,160 1, % 0.70 $ % 1.41 $ Produc on % 0.37 $ Protec ve Service % 0.93 $ Healthcare Support % 0.43 $ Emsi Q Data Set 17

20 Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Dec Nov 2018 Unique Average Monthly Pos ngs Architecture and Engineering Computer and Mathema cal Community and Social Service Life, Physical, and Social Science % 0.65 $ % 0.32 $ % 0.55 $ % 0.77 $ Legal % 0.60 $ Farming, Fishing, and Forestry % 0.56 $ Military-only % 0.34 $ Emsi Q Data Set 18

21 Educa onal Pipeline Over the last 5 years, no schools in Eagle County, CO produced graduates. Emsi Q Data Set 19