Bucks County, PA. Economy Overview. Bucks County Workforce Development Board, Inc Veterans Highway Bristol, Pennsylvania 19007
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1 Bucks County, PA Bucks County Workforce Development Board, Inc Veterans Highway Bristol, Pennsylvania 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 628, ,637 $79.6K Popula on (2018) Jobs (2018) Median Household Income (2016) Popula on grew by 3,493 over the last 5 years and is projected to grow by 3,480 over the next 5 years. Jobs grew by 14,958 over the last 5 years and are projected to grow by 7,526 over the next 5 years. Median household income is $24.2K above the na onal median household income of $55.3K. As of 2018 the region's popula on increased by 0.6% since 2013, growing by 3,493. Popula on is expected to increase by 0.6% between 2018 and 2023, adding 3,480. From 2013 to 2018, jobs increased by 5.4% in Bucks County, PA from 277,679 to 292,637. This change fell short of the na onal growth rate of 7.4% by 2.0%. As the number of jobs increased, the labor force par cipa on rate increased from 66.0% to 66.0% between 2013 and Concerning educa onal a ainment, 22.9% of Bucks County, PA residents possess a Bachelor's Degree (4.3% above the na onal average), and 7.8% hold an Associate's Degree (0.2% below the na onal average). The top three industries in 2018 are Restaurants and Other Ea ng Places, Educa on and Hospitals (Local Government), and Individual and Family Services. Popula on (2018) Labor Force (2018) Jobs (2018) Cost of Living GRP Imports Exports Region 628, , , $36.50B $39.44B $26.86B United States 328,038, ,733, ,636, $19.28T $0 $8.38T Emsi Q Data Set 1
4 Economy Overview - Cont Labor Force Breakdown Popula on A Total Working Age Popula on 524,695 A Not in Labor Force (15+) 178, ,815 Popula on A Labor Force 346,425 A Employed 332,924 A Unemployed 13,501 A Under ,119 Educa onal A ainment Concerning educa onal a ainment, 22.9% of Bucks County, PA residents possess a Bachelor's Degree (4.3% above the na onal average), and 7.8% hold an Associate's Degree (0.2% below the na onal average). % of Popula on Popula on A Less Than 9th Grade 2.4% 10,872 A 9th Grade to 12th Grade 4.7% 21,176 A High School Diploma 30.1% 135,409 A Some College 17.0% 76,717 A Associate's Degree 7.8% 35,243 A Bachelor's Degree 22.9% 103,122 A Graduate Degree and Higher 15.0% 67,674 Emsi Q Data Set 2
5 Historic & Projected Trends Popula on Trends Economy Overview As of 2018 the region's popula on increased by 0.6% since 2013, growing by 3,493. Popula on is expected to increase by 0.6% between 2018 and 2023, adding 3,480. Timeframe Popula on , , , , , , , , , , ,294 Emsi Q Data Set 3
6 Historic & Projected Trends - Cont. Job Trends Economy Overview From 2013 to 2018, jobs increased by 5.4% in Bucks County, PA from 277,679 to 292,637. This change fell short of the na onal growth rate of 7.4% by 2.0%. Timeframe Jobs , , , , , , , , , , ,163 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 Bucks County, PA had a July 2018 unemployment rate of 3.90%, decreasing from 6.59% 5 years before. Timeframe Unemployment Rate % % % % % January - April % May % June % July % Emsi Q Data Set 6
9 Popula on Characteris cs 106, ,481 99,786 Millennials Re ring Soon Racial Diversity Bucks County, PA has 106,043 millennials (ages 20-34). The na onal average for an area this size is 130,138. Re rement risk is high in Bucks County, PA. The na onal average for an area this size is 179,123 people 55 or older, while there are 212,481 here. Racial diversity is low in Bucks County, PA. The na onal average for an area this size is 246,760 racially diverse people, while there are 99,786 here. 36, /1, /1,000 Veterans Violent Crime Property Crime Bucks County, PA has 36,943 veterans. The na onal average for an area this size is 37,859. Bucks County, PA has 1.08 violent crimes per 1,000 people. The na onal rate is 3.75 per 1,000 people. Bucks County, PA 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 Bucks County, PA currently works compared to where talent lives can help you op mize site decisions. For example, the #1 ranked ZIP for employment ranks #6 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 Langhorne, PA (in Buck 32, Bensalem, PA (in Bucks 30, Doylestown, PA (in Bu 25, Warminster, PA (in Buc 20, Feasterville Trevose, PA 20, Bensalem, PA (in Bucks 31, Morrisville, PA (in Buck 28, Warminster, PA (in Buc 23, Southampton, PA (in Bu 23, Quakertown, PA (in Bu 20,268 Emsi Q Data Set 8
11 Industry Characteris cs Largest Industries Industry Jobs Na onal Average Health Care and Social Assistance Retail Trade Manufacturing Government Accommoda on and Food Services Construc on Professional, Scien fic, and Technical Services Administra ve and Support and Waste Management and Remedia on Services Other Services (except Public Administra on) Wholesale Trade Finance and Insurance Transporta on and Warehousing Arts, Entertainment, and Recrea on Educa onal Services Informa on Real Estate and Rental and Leasing Management of Companies and Enterprises Agriculture, Forestry, Fishing and Hun ng U li es Mining, Quarrying, and Oil and Gas Extrac on 0 10,000 20,000 30,000 40,000 50,000 Emsi Q Data Set 9
12 Industry Characteris cs - Cont. Top Growing Industries Industry Jobs Growth Health Care and Social Assistance Construc on Accommoda on and Food Services Transporta on and Warehousing Professional, Scien fic, and Technical Services Finance and Insurance d Support and Waste Management and Remedia on Services Arts, Entertainment, and Recrea on Other Services (except Public Administra on) Real Estate and Rental and Leasing Educa onal Services Wholesale Trade Manufacturing Agriculture, Forestry, Fishing and Hun ng U li es 0 2,000 4,000 6,000 8,000 Emsi Q Data Set 10
13 Industry Characteris cs - Cont. Top Industry LQ Industry LQ Arts, Entertainment, and Recrea on Health Care and Social Assistance Construc on Wholesale Trade Retail Trade Manufacturing Other Services (except Public Administra on) Professional, Scien fic, and Technical Services Informa on d Support and Waste Management and Remedia on Services Accommoda on and Food Services Finance and Insurance Transporta on and Warehousing Educa onal Services Real Estate and Rental and Leasing Management of Companies and Enterprises U li es Government Agriculture, Forestry, Fishing and Hun ng 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 Manufacturing Wholesale Trade Health Care and Social Assistance Professional, Scien fic, and Technical Services Retail Trade Construc on Finance and Insurance Government Informa on Real Estate and Rental and Leasing d Support and Waste Management and Remedia on Services Transporta on and Warehousing Other Services (except Public Administra on) Accommoda on and Food Services Arts, Entertainment, and Recrea on U li es Management of Companies and Enterprises Educa onal Services Agriculture, Forestry, Fishing and Hun ng Mining, Quarrying, and Oil and Gas Extrac on $0.000 $1.000B $2.000B $3.000B $4.000B Emsi Q Data Set 12
15 Industry Characteris cs - Cont. Top Industry Earnings 2018 Earnings Per Worker U li es Management of Companies and Enterprises Informa on Finance and Insurance Professional, Scien fic, and Technical Services Government Wholesale Trade Manufacturing Construc on Mining, Quarrying, and Oil and Gas Extrac on Transporta on and Warehousing Health Care and Social Assistance Real Estate and Rental and Leasing d Support and Waste Management and Remedia on Services Educa onal Services Retail Trade Agriculture, Forestry, Fishing and Hun ng Other Services (except Public Administra on) Arts, Entertainment, and Recrea on Accommoda on and Food Services $0 $50,000 $100,000 $150,000 $200,000 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 Health Care and Social Assistance 43,687 52,782 9, % 1.43 $54,150 $3.32B Retail Trade 37,468 36, % 1.24 $36,989 $2.58B Manufacturing 27,779 27, % 1.22 $76,158 $4.62B Government 25,473 24,139-1,334-5% 0.55 $89,742 $2.32B Accommoda on and Food Services 20,312 21,888 1,576 +8% 0.87 $21,146 $695.11M Construc on 18,974 20,584 1,610 +8% 1.28 $70,366 $2.53B Professional, Scien fic, and Technical Services Administra ve and Support and Waste Management and Remedia on Services Other Services (except Public Administra on) 17,926 18, % 0.99 $90,781 $2.67B 15,226 15, % 0.87 $45,752 $1.12B 14,578 14, % 1.06 $32,953 $709.72M Wholesale Trade 13,536 13, % 1.26 $85,203 $3.68B Finance and Insurance 8,926 9, % 0.82 $96,529 $2.47B Transporta on and Warehousing 7,232 8,449 1, % 0.82 $60,353 $791.08M Arts, Entertainment, and Recrea on 7,048 7, % 1.48 $28,296 $554.33M Educa onal Services 5,776 6, % 0.79 $41,729 $294.63M Informa on 5,034 4, % 0.88 $96,594 $1.39B Real Estate and Rental and Leasing 3,546 3, % 0.78 $54,065 $1.35B Management of Companies and Enterprises Agriculture, Forestry, Fishing and Hun ng 3,694 3, % 0.75 $128,427 $464.43M % 0.27 $36,742 $76.39M U li es % 0.57 $228,038 $488.53M Emsi Q Data Set 14
17 Industry Characteris cs - Cont. Industry 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2018 Earnings Per Worker 2017 GRP Mining, Quarrying, and Oil and Gas Extrac on % 0.14 $64,883 $44.49M Emsi Q Data Set 15
18 Business Characteris cs 45,229 Companies Employ Your Workers Online profiles for your workers men on 45,229 companies as employers, with the top 10 appearing below. In the last 12 months, 6,480 companies in Bucks County, PA posted job pos ngs, with the top 10 appearing below. Top Companies Profiles Top Companies Pos ng Unique Pos ngs St. Mary Medical Center 529 Doylestown Hospital 487 Merck & Co., Inc. 399 Abington Memorial Hospital Inc 355 Comcast Corpora on 340 Central Bucks School District 311 Aria Health 289 The Bucks County of 274 Temple University 265 Wal-Mart Stores, Inc. 254 CRST Interna onal, Inc. 3,075 Ly, Inc. 1,854 Uber Technologies, Inc. 1,110 Mutual of Omaha 980 Berkshire Hathaway Inc. 840 Tutree, Inc. 814 C.R. England, Inc. 671 The Home Depot Inc 638 Shipt LLC 594 Robert Half Interna onal Inc. 504 Emsi Q Data Set 16
19 Business Characteris cs - Cont. Business Size Percentage Business Count A 1 to 4 employees 35.3% 9,653 A 5 to 9 employees 25.6% 6,999 A 10 to 19 employees 22.6% 6,188 A 20 to 49 employees 12.3% 3,361 A 50 to 99 employees 2.6% 715 A 100 to 249 employees 1.3% 359 A 250 to 499 employees 0.3% 77 A 500+ employees 0.1% 25 *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 17
20 Workforce Characteris cs Largest Occupa ons Occupa on Jobs Na onal Average Office and Administra ve Support Sales and Related Food Prepara on and Serving Related Personal Care and Service Transporta on and Material Moving Healthcare Prac oners and Technical Produc on Educa on, Training, and Library Construc on and Extrac on Management Installa on, Maintenance, and Repair Business and Financial Opera ons Building and Grounds Cleaning and Maintenance Healthcare Support Computer and Mathema cal Community and Social Service Arts, Design, Entertainment, Sports, and Media Protec ve Service Architecture and Engineering Life, Physical, and Social Science Legal Military-only Farming, Fishing, and Forestry 0 10,000 20,000 30,000 40,000 Emsi Q Data Set 18
21 Workforce Characteris cs - Cont. Top Growing Occupa ons Occupa on Jobs Growth Personal Care and Service Healthcare Prac oners and Technical Food Prepara on and Serving Related Transporta on and Material Moving Business and Financial Opera ons Management Construc on and Extrac on Healthcare Support Community and Social Service Computer and Mathema cal Installa on, Maintenance, and Repair Office and Administra ve Support Protec ve Service Legal Arts, Design, Entertainment, Sports, and Media Produc on Farming, Fishing, and Forestry Military-only 0 1,000 2,000 3,000 4,000 5,000 Emsi Q Data Set 19
22 Workforce Characteris cs - Cont. Top Occupa on LQ Occupa on LQ Personal Care and Service Healthcare Support Sales and Related Healthcare Prac oners and Technical Installa on, Maintenance, and Repair Construc on and Extrac on Community and Social Service Office and Administra ve Support Life, Physical, and Social Science Produc on Food Prepara on and Serving Related Transporta on and Material Moving Arts, Design, Entertainment, Sports, and Media Building and Grounds Cleaning and Maintenance Educa on, Training, and Library Management Computer and Mathema cal Architecture and Engineering Legal Business and Financial Opera ons Protec ve Service Military-only Farming, Fishing, and Forestry Emsi Q Data Set 20
23 Workforce Characteris cs - Cont. Top Occupa on Earnings 2017 Avg. Hourly Earnings Management Legal Computer and Mathema cal Healthcare Prac oners and Technical Architecture and Engineering Life, Physical, and Social Science Business and Financial Opera ons Educa on, Training, and Library Construc on and Extrac on Community and Social Service Installa on, Maintenance, and Repair Protec ve Service Military-only Arts, Design, Entertainment, Sports, and Media Sales and Related Produc on Office and Administra ve Support Transporta on and Material Moving Farming, Fishing, and Forestry Healthcare Support Building and Grounds Cleaning and Maintenance Personal Care and Service Food Prepara on and Serving Related $0.00 $10.00 $20.00 $30.00 $40.00 $50.00 Emsi Q Data Set 21
24 Workforce Characteris cs - Cont. Top Posted Occupa ons Unique Average Monthly Pos ngs Transporta on and Material Moving Sales and Related Office and Administra ve Support Healthcare Prac oners and Technical Management Business and Financial Opera ons Personal Care and Service Food Prepara on and Serving Related Educa on, Training, and Library Computer and Mathema cal Installa on, Maintenance, and Repair Produc on Healthcare Support Architecture and Engineering Community and Social Service Building and Grounds Cleaning and Maintenance Arts, Design, Entertainment, Sports, and Media Construc on and Extrac on Protec ve Service Life, Physical, and Social Science Legal Farming, Fishing, and Forestry Military-only 0 1,000 2,000 3,000 4,000 Emsi Q Data Set 22
25 Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Jan Dec 2018 Unique Average Monthly Pos ngs Office and Administra ve Support 43,550 43, % 1.02 $ ,570 Sales and Related 33,761 33, % 1.13 $ ,472 Food Prepara on and Serving Related Personal Care and Service Transporta on and Material Moving Healthcare Prac oners and Technical 22,225 23,730 1,505 +7% 0.97 $ ,893 18,459 5, % 1.47 $ ,073 18,433 1,360 +8% 0.94 $ ,035 16,279 18,053 1, % 1.11 $ ,231 Produc on 16,867 16, % 1.00 $ Educa on, Training, and Library Construc on and Extrac on 15,567 15, % 0.91 $ ,594 14, % 1.09 $ Management 13,221 14, % 0.87 $ Installa on, Maintenance, and Repair Business and Financial Opera ons Building and Grounds Cleaning and Maintenance 12,269 12, % 1.10 $ ,337 12,503 1, % 0.83 $ ,129 9, % 0.92 $ Healthcare Support 8,691 9, % 1.19 $ Computer and Mathema cal Community and Social Service 6,713 7, % 0.86 $ ,622 5, % 1.06 $ Emsi Q Data Set 23
26 Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Jan Dec 2018 Unique Average Monthly Pos ngs Arts, Design, Entertainment, Sports, and Media 4,757 4, % 0.92 $ Protec ve Service 4,347 4, % 0.69 $ Architecture and Engineering Life, Physical, and Social Science 4,351 4, % 0.85 $ ,397 2, % 1.01 $ Legal 1,876 2, % 0.85 $ Military-only % 0.46 $ Farming, Fishing, and Forestry % 0.26 $ Emsi Q Data Set 24
27 Educa onal Pipeline In 2017, there were 2,615 graduates in Bucks County, PA. This pipeline has shrunk by 34% over the last 5 years. The highest share of these graduates come from "Business Administra on and Management, General", "Business Administra on and Management, General", and Religion/Religious Studies. School Total Graduates (2017) Graduate Trend ( ) Bucks County Community College 962 Delaware Valley University 470 Strayer University-Pennsylvania 357 Pennco Tech-Bristol 255 Cairn University-Langhorne 217 Automo ve Training Center-Warminster 119 Bucks County School of Beauty Culture Inc 110 Aria Health School of Nursing 61 Levi own Beauty Academy 41 Empire Beauty School-Warminster 23 Cer ficate Associate's Bachelor's Master's or Higher Emsi Q Data Set 25
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