Economy Overview. Denton County, TX. Emsi Q Data Set

Transcription

1 Denton County, TX 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 827, ,341 $76.7K Popula on (2017) Jobs (2017) Median Household Income (2016) Popula on grew by 120,499 over the last 5 years and is projected to grow by 91,469 over the next 5 years. Jobs grew by 53,786 over the last 5 years and are projected to grow by 44,492 over the next 5 years. Median household income is $21.4K above the na onal median household income of $55.3K. As of 2017 the region's popula on increased by 17.0% since 2012, growing by 120,499. Popula on is expected to increase by 11.0% between 2017 and 2022, adding 91,469. From 2012 to 2017, jobs increased by 24.8% in Denton County, TX from 216,555 to 270,341. This change outpaced the na onal growth rate of 7.6% by 17.2%. As the number of jobs increased, the labor force par cipa on rate decreased from 71.4% to 70.3% between 2012 and Concerning educa onal a ainment, 28.3% of Denton County, TX residents possess a Bachelor's Degree (9.9% above the na onal average), and 7.2% hold an Associate's Degree (0.7% below the na onal average). The top three industries in 2017 are Restaurants and Other Ea ng Places, Educa on and Hospitals (Local Government), and Educa on and Hospitals (State Government). Emsi Q Data Set 1

4 Economy Overview - Cont. Popula on (2017) Labor Force (2017) Jobs (2017) Cost of Living GRP Imports Exports Region 827, , , $33.63B $45.54B $25.77B State 28,289,157 13,501,846 13,414, $1.72T $896.10B $1.33T Na on 325,401, ,469, ,732, $19.08T $0 $8.52T Emsi Q Data Set 2

5 Economy Overview - Cont Labor Force Breakdown Popula on A Total Working Age Popula on 655,111 A Not in Labor Force (15+) 194, ,972 Popula on A Labor Force 460,752 A Employed 447,550 A Unemployed 13,202 A Under ,861 Educa onal A ainment Concerning educa onal a ainment, 28.3% of Denton County, TX residents possess a Bachelor's Degree (9.9% above the na onal average), and 7.2% hold an Associate's Degree (0.7% below the na onal average). % of Popula on Popula on A Less Than 9th Grade 4.7% 25,538 A 9th Grade to 12th Grade 4.1% 21,881 A High School Diploma 19.4% 104,563 A Some College 23.3% 125,776 A Associate's Degree 7.2% 38,933 A Bachelor's Degree 28.3% 152,756 A Graduate Degree and Higher 13.1% 70,670 Emsi Q Data Set 3

6 Historic & Projected Trends Popula on Trends Economy Overview As of 2017 the region's popula on increased by 17.0% since 2012, growing by 120,499. Popula on is expected to increase by 11.0% between 2017 and 2022, adding 91,469. Timeframe Popula on , , , , , , , , , , ,441 Emsi Q Data Set 4

7 Historic & Projected Trends - Cont. Job Trends Economy Overview From 2012 to 2017, jobs increased by 24.8% in Denton County, TX from 216,555 to 270,341. This change outpaced the na onal growth rate of 7.6% by 17.2%. Timeframe Jobs , , , , , , , , , , ,833 Emsi Q Data Set 5

8 Historic & Projected Trends - Cont. Labor Force Par cipa on Rate Trends Timeframe Labor Force Par cipa on Rate % % % % % January - August % September % October % November % Emsi Q Data Set 6

9 Historic & Projected Trends - Cont. Unemployment Rate Trends Denton County, TX had a November 2017 unemployment rate of 2.87%, decreasing from 5.71% 5 years before. Timeframe Unemployment Rate % % % % % January - August % September % October % November % Emsi Q Data Set 7

10 Popula on Characteris cs 174,052 76, ,427 Millennials Re ring Soon Racial Diversity Denton County, TX has 174,052 millennials (ages 20-34). The na onal average for an area this size is 167,307. Re rement risk is low in Denton County, TX. The na onal average for an area this size is 122,862 people 65 or older, while there are 76,017 here. Racial diversity is about average in Denton County, TX. The na onal average for an area this size is 312,263 racially diverse people, while there are 320,427 here. 39, /1, /1,000 Veterans Violent Crime Property Crime Denton County, TX has 39,925 veterans. The na onal average for an area this size is 45,683. Denton County, TX has 1.16 violent crimes per 1,000 people. The na onal rate is 3.75 per 1,000 people. Denton County, TX has property crimes per 1,000 people. The na onal rate is per 1,000 people. Emsi Q Data Set 8

11 Popula on Characteris cs - Cont. Place of Work vs Place of Residence Understanding where talent in Denton County, TX 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 2017 Employment ZIP Name 2017 Workers Frisco, TX (in Denton c 36, Lewisville, TX (in Dento 25, Denton, TX (in Denton 24, Flower Mound, TX (in 22, Lewisville, TX (in Dento 18, Lewisville, TX (in Dento 40, The Colony, TX (in Den 34, Frisco, TX (in Denton c 31, Carrollton, TX (in Dento 30, Flower Mound, TX (in 26,939 Emsi Q Data Set 9

12 Industry Characteris cs Largest Industries Industry Jobs Na onal Average Government Retail Trade Health Care and Social Assistance Accommoda on and Food Services Construc on Professional, Scien fic, and Technical Services Administra ve and Support and Waste Management and Remedia on Services Manufacturing Other Services (except Public Administra on) Wholesale Trade Transporta on and Warehousing Finance and Insurance Real Estate and Rental and Leasing Arts, Entertainment, and Recrea on Educa onal Services 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 10,000 20,000 30,000 40,000 Emsi Q Data Set 10

13 Industry Characteris cs - Cont. Top Growing Industries Industry Jobs Growth Accommoda on and Food Services Retail Trade Health Care and Social Assistance Transporta on and Warehousing Construc on Professional, Scien fic, and Technical Services Government Manufacturing Wholesale Trade Finance and Insurance Other Services (except Public Administra on) d Support and Waste Management and Remedia on Services Real Estate and Rental and Leasing Educa onal Services Informa on Management of Companies and Enterprises Arts, Entertainment, and Recrea on U li es Agriculture, Forestry, Fishing and Hun ng 0 2,000 4,000 6,000 Emsi Q Data Set 11

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

15 Industry Characteris cs - Cont. Top Industry GRP 2017 Gross Regional Product Wholesale Trade Government Finance and Insurance Manufacturing Retail Trade Professional, Scien fic, and Technical Services Health Care and Social Assistance Construc on Informa on Real Estate and Rental and Leasing d Support and Waste Management and Remedia on Services Accommoda on and Food Services Transporta on and Warehousing Mining, Quarrying, and Oil and Gas Extrac on Other Services (except Public Administra on) Management of Companies and Enterprises U li es Arts, Entertainment, and Recrea on Agriculture, Forestry, Fishing and Hun ng Educa onal Services $0.000 $500.0M $1.000B $1.500B $2.000B $2.500B $3.000B Emsi Q Data Set 13

16 Industry Characteris cs - Cont. Top Industry Earnings 2017 Earnings Per Worker Management of Companies and Enterprises U li es Mining, Quarrying, and Oil and Gas Extrac on Informa on Wholesale Trade Finance and Insurance Professional, Scien fic, and Technical Services Manufacturing Government Construc on Health Care and Social Assistance Transporta on and Warehousing d Support and Waste Management and Remedia on Services Real Estate and Rental and Leasing Retail Trade Agriculture, Forestry, Fishing and Hun ng Educa onal Services Other Services (except Public Administra on) Arts, Entertainment, and Recrea on Accommoda on and Food Services $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Emsi Q Data Set 14

17 Industry Characteris cs - Cont. Industry 2012 Jobs 2017 Jobs Change in Jobs % Change in Jobs 2017 LQ 2017 Earnings Per Worker 2017 GRP Government 35,889 38,982 3,093 +9% 0.94 $66,407 $2.85B Retail Trade 26,595 33,890 7, % 1.21 $35,906 $2.46B Health Care and Social Assistance 22,787 29,143 6, % 0.86 $56,542 $2.03B Accommoda on and Food Services 21,097 28,478 7, % 1.23 $21,148 $1.05B Construc on 12,884 17,557 4, % 1.19 $60,187 $1.74B Professional, Scien fic, and Technical Services Administra ve and Support and Waste Management and Remedia on Services 14,011 17,491 3, % 1.01 $82,255 $2.34B 14,404 16,352 1, % 0.97 $51,214 $1.23B Manufacturing 13,052 15,895 2, % 0.75 $80,081 $2.59B Other Services (except Public Administra on) 12,544 14,530 1, % 1.12 $28,270 $677.88M Wholesale Trade 9,920 12,366 2, % 1.22 $90,577 $3.14B Transporta on and Warehousing 5,887 11,655 5, % 1.25 $51,754 $1.01B Finance and Insurance 8,793 11,056 2, % 1.06 $87,741 $2.62B Real Estate and Rental and Leasing 3,964 5,239 1, % 1.17 $49,619 $1.35B Arts, Entertainment, and Recrea on 4,132 4, % 1.03 $23,774 $225.80M Educa onal Services 3,105 4,331 1, % 0.62 $33,286 $174.49M Emsi Q Data Set 15

18 Industry Characteris cs - Cont. Industry 2012 Jobs 2017 Jobs Change in Jobs % Change in Jobs 2017 LQ 2017 Earnings Per Worker 2017 GRP Informa on 3,070 4,112 1, % 0.82 $92,366 $1.61B Management of Companies and Enterprises Agriculture, Forestry, Fishing and Hun ng 1,427 2, % 0.62 $128,262 $401.18M % 0.25 $34,949 $178.39M U li es % 0.68 $109,763 $321.39M Mining, Quarrying, and Oil and Gas Extrac on 1, ,159-72% 0.43 $107,906 $992.11M Emsi Q Data Set 16

19 Business Characteris cs 28,488 Companies Employ Your Workers Online profiles for your workers men on 28,488 companies as employers, with the top 10 appearing below. In the last 12 months, 2,999 companies in Denton County, TX posted job pos ngs, with the top 10 appearing below. Top Companies Profiles Top Companies Pos ng Unique Pos ngs University of North Texas 1,777 Lewisville Exxon 1,010 Texas Woman's University 440 JPMorgan Chase & Co. 399 American Airlines Group Inc. 396 Wal-Mart Stores, Inc. 392 Denton Isd 367 Bank of America Corpora on 309 Na onstar Mortgage Holdings 235 Fmr LLC 231 HCA Holdings, Inc. 2,790 Ly, Inc. 2,364 Sonic Drive-In 2,363 The Charles Schwab Corpora 1,673 CRST Interna onal, Inc. 1,639 McLane Company, Inc. 1,568 Comphealth Associates, Inc 1,516 Wal-Mart Stores, Inc. 1,516 Pizza Hut, Inc. 1,479 University of North Texas 1,465 Emsi Q Data Set 17

20 Business Characteris cs - Cont. Business Size Percentage Business Count A 1 to 4 employees 43.3% 8,085 A 5 to 9 employees 25.3% 4,714 A 10 to 19 employees 16.5% 3,083 A 20 to 49 employees 9.8% 1,823 A 50 to 99 employees 3.3% 609 A 100 to 249 employees 1.3% 248 A 250 to 499 employees 0.4% 72 A 500+ employees 0.2% 31 *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 18

21 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 Transporta on and Material Moving Educa on, Training, and Library Healthcare Prac oners and Technical Construc on and Extrac on Produc on Business and Financial Opera ons Management Personal Care and Service Installa on, Maintenance, and Repair Building and Grounds Cleaning and Maintenance Computer and Mathema cal Healthcare Support Arts, Design, Entertainment, Sports, and Media Protec ve Service Community and Social Service Architecture and Engineering Military Legal Life, Physical, and Social Science Farming, Fishing, and Forestry 0 10,000 20,000 30,000 40,000 Emsi Q Data Set 19

22 Workforce Characteris cs - Cont. Top Growing Occupa ons Occupa on Jobs Growth Office and Administra ve Support Food Prepara on and Serving Related Sales and Related Transporta on and Material Moving Healthcare Prac oners and Technical Construc on and Extrac on Educa on, Training, and Library Management Personal Care and Service Business and Financial Opera ons Building and Grounds Cleaning and Maintenance Produc on Installa on, Maintenance, and Repair Computer and Mathema cal Healthcare Support Arts, Design, Entertainment, Sports, and Media Architecture and Engineering Community and Social Service Protec ve Service Military Legal Life, Physical, and Social Science Farming, Fishing, and Forestry 0 2,000 4,000 6,000 8,000 Emsi Q Data Set 20

23 Workforce Characteris cs - Cont. Top Occupa on LQ Occupa on LQ Food Prepara on and Serving Related Educa on, Training, and Library Sales and Related Arts, Design, Entertainment, Sports, and Media Computer and Mathema cal Transporta on and Material Moving Construc on and Extrac on Office and Administra ve Support Installa on, Maintenance, and Repair Building and Grounds Cleaning and Maintenance Personal Care and Service Healthcare Support Healthcare Prac oners and Technical Business and Financial Opera ons Community and Social Service Management Produc on Architecture and Engineering Protec ve Service Legal Military Life, Physical, and Social Science Farming, Fishing, and Forestry Emsi Q Data Set 21

24 Workforce Characteris cs - Cont. Top Occupa on Earnings 2016 Avg. Hourly Earnings Legal Management Architecture and Engineering Computer and Mathema cal Healthcare Prac oners and Technical Business and Financial Opera ons Life, Physical, and Social Science Community and Social Service Educa on, Training, and Library Protec ve Service Arts, Design, Entertainment, Sports, and Media Installa on, Maintenance, and Repair Sales and Related Construc on and Extrac on Transporta on and Material Moving Office and Administra ve Support Produc on Military Healthcare Support Building and Grounds Cleaning and Maintenance Personal Care and Service Farming, Fishing, and Forestry Food Prepara on and Serving Related $0.00 $10.00 $20.00 $30.00 $40.00 Emsi Q Data Set 22

25 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 Food Prepara on and Serving Related Healthcare Prac oners and Technical Management Computer and Mathema cal Installa on, Maintenance, and Repair Business and Financial Opera ons Personal Care and Service Building and Grounds Cleaning and Maintenance Healthcare Support Educa on, Training, and Library Produc on Protec ve Service Arts, Design, Entertainment, Sports, and Media Architecture and Engineering Community and Social Service Construc on and Extrac on Life, Physical, and Social Science Legal Military 0 1,000 2,000 3,000 4,000 Emsi Q Data Set 23

26 Workforce Characteris cs - Cont. Occupa on 2012 Jobs 2017 Jobs Change in Jobs % Change in Jobs 2017 LQ 2016 Avg. Hourly Earnings Mar Feb 2018 Unique Average Monthly Pos ngs Office and Administra ve Support 33,758 43,008 9, % 1.07 $ ,642 Sales and Related 24,695 30,866 6, % 1.15 $ ,126 Food Prepara on and Serving Related Transporta on and Material Moving Educa on, Training, and Library Healthcare Prac oners and Technical Construc on and Extrac on 21,550 28,307 6, % 1.25 $ ,397 13,625 19,447 5, % 1.10 $ ,707 16,472 18,835 2, % 1.22 $ ,435 13,432 2, % 0.90 $ ,381 10,430 13,170 2, % 1.09 $ Produc on 10,451 12,353 1, % 0.78 $ Business and Financial Opera ons 10,018 12,002 1, % 0.88 $ Management 9,588 11,904 2, % 0.81 $ Personal Care and Service Installa on, Maintenance, and Repair Building and Grounds Cleaning and Maintenance Computer and Mathema cal 8,279 10,308 2, % 0.92 $ ,129 10,001 1, % 0.98 $ ,609 9,512 1, % 0.94 $ ,756 8,445 1, % 1.11 $ Healthcare Support 5,404 6,762 1, % 0.91 $ Emsi Q Data Set 24

27 Workforce Characteris cs - Cont. Occupa on 2012 Jobs 2017 Jobs Change in Jobs % Change in Jobs 2017 LQ 2016 Avg. Hourly Earnings Mar Feb 2018 Unique Average Monthly Pos ngs Arts, Design, Entertainment, Sports, and Media 4,489 5,545 1, % 1.14 $ Protec ve Service 4,286 4, % 0.75 $ Community and Social Service Architecture and Engineering 3,357 3, % 0.84 $ ,822 3, % 0.76 $ Military 1,568 1, % 0.51 $ Legal 1,311 1, % 0.65 $ Life, Physical, and Social Science Farming, Fishing, and Forestry 965 1, % 0.50 $ % 0.30 $ Emsi Q Data Set 25

28 Educa onal Pipeline In 2016, there were 12,630 graduates in Denton County, TX. This pipeline has remained stable (neither grown nor shrunk) over the last 5 years. The highest share of these graduates come from "Mul -/Interdisciplinary Studies, Other", "Business Administra on and Management, General", and General Studies. School Total Graduates (2016) Graduate Trend ( ) University of North Texas 8,554 Texas Woman's University 3,934 Ogle School Hair Skin Nails-Denton 82 The Salon Professional Academy- Lewisville 46 Na onal American University-Lewisville 14 ATI Career Training Center-Lewisville 0 Regency Beauty Ins tute-lewisville 0 Cer ficate Associate's Bachelor's Master's or Higher Emsi Q Data Set 26

29 Economic Overview Denton County, Texas March 12, 2018

30 DEMOGRAPHIC PROFILE... 3 EMPLOYMENT TRENDS... 5 UNEMPLOYMENT RATE... 5 WAGE TRENDS... 6 COST OF LIVING INDEX... 6 INDUSTRY SNAPSHOT... 7 OCCUPATION SNAPSHOT... 9 INDUSTRY CLUSTERS EDUCATION LEVELS GROSS DOMESTIC PRODUCT FAQ Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 2

31 Demographic Profile The population in Denton County, Texas was 754,650 per American Community Survey data for The region has a civilian labor force of 424,106 with a participation rate of 73.2%. Of individuals 25 to 64 in Denton County, Texas, 43.5% have a bachelor s degree or higher which compares with 31.8% in the nation. The median household income in Denton County, Texas is $76,678 and the median house value is $212,200. Demographics Summary 1 Percent Denton County, Texas Texas USA Value Denton County, Texas Texas USA Population (ACS) 754,650 26,956, ,558,162 Male 49.2% 49.6% 49.2% 371,110 13,379, ,765,322 Female 50.8% 50.4% 50.8% 383,540 13,577, ,792,840 Median Age Under 18 Years 26.1% 26.5% 23.1% 197,147 7,132,476 73,612, to 24 Years 9.7% 10.2% 9.8% 72,856 2,738,831 31,296, to 34 Years 15.0% 14.5% 13.6% 113,010 3,915,774 43,397, to 44 Years 15.7% 13.5% 12.7% 118,818 3,642,463 40,548, to 54 Years 14.6% 12.9% 13.6% 109,975 3,471,589 43,460, to 64 Years 10.2% 11.0% 12.6% 77,265 2,958,735 40,061, to 74 Years 5.7% 6.8% 8.3% 42,964 1,828,562 26,355, Years, and Over 3.0% 4.7% 6.2% 22,615 1,268,005 19,825,324 Race: White 76.6% 74.8% 73.3% 578,108 20,174, ,657,078 Race: Black or African American 9.1% 11.9% 12.6% 68,449 3,221,133 40,241,818 Race: American Indian and Alaska Native 0.4% 0.5% 0.8% 3, ,145 2,597,817 Race: Asian 7.5% 4.4% 5.2% 56,563 1,175,423 16,614,625 Race: Native Hawaiian and Other Pacific Islander 0.1% 0.1% 0.2% , ,021 Race: Some Other Race 2.9% 5.8% 4.8% 22,139 1,561,683 15,133,856 Race: Two or More Races 3.4% 2.5% 3.1% 25, ,400 9,752,947 Hispanic or Latino (of any race) 18.9% 38.6% 17.3% 142,619 10,413,150 55,199,107 Population Growth Population (Pop Estimates) 5 806,180 27,862, ,127,513 Population Annual Average Growth 5 3.3% 1.8% 0.8% 22, ,302 2,474,760 Economic Labor Force Participation Rate and Size (civilian population 16 years and over) 73.2% 64.5% 63.3% 424,106 13,219, ,807,099 Armed Forces Labor Force 0.1% 0.5% 0.4% ,754 1,011,641 Veterans, Age % 5.4% 5.1% 26, ,966 10,165,671 Median Household Income 2 $76,678 $54,727 $55,322 Per Capita Income $36,238 $27,828 $29,829 Poverty Level (of all people) 8.7% 16.7% 15.1% 64,613 4,397,307 46,932,225 Households Receiving Food Stamps 5.9% 13.1% 13.0% 15,793 1,220,336 15,360,951 Mean Commute Time (minutes) Commute via Public Transportation 1.1% 1.5% 5.1% 4, ,919 7,476,312 Union Membership 3 4.5% 4.2% 10.7% Educational Attainment, Age Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 3

32 Summary 1 Percent Denton County, Texas Texas USA Value Denton County, Texas Texas USA No High School Diploma 7.4% 16.5% 11.6% 31,156 2,303,492 19,478,050 High School Graduate 18.0% 24.7% 26.1% 75,293 3,452,488 43,788,541 Some College, No Degree 23.7% 22.7% 21.5% 99,336 3,174,603 36,025,193 Associate's Degree 7.4% 7.3% 8.9% 30,996 1,015,736 14,962,488 Bachelor's Degree 30.4% 19.4% 20.2% 127,311 2,710,069 33,845,524 Postgraduate Degree 13.1% 9.5% 11.6% 54,976 1,332,173 19,368,719 Housing Total Housing Units 281,136 10,441, ,054,899 Median House Value (of owner-occupied units) 2 $212,200 $142,700 $184,700 Homeowner Vacancy 0.7% 1.6% 1.8% 1,227 94,289 1,395,797 Rental Vacancy 4.8% 7.6% 6.2% 4, ,244 2,855,844 Renter-Occupied Housing Units (% of Occupied Units) 35.9% 38.1% 36.4% 95,401 3,542,096 42,835,169 Occupied Housing Units with No Vehicle Available (% of Occupied Units) Social 2.9% 5.6% 9.0% 7, ,186 10,562,847 Enrolled in Grade 12 (% of total population) 1.3% 1.4% 1.4% 10, ,416 4,433,703 Disconnected Youth 4 2.5% 3.2% 2.8% 1,055 48, ,589 Children in Single Parent Families (% of all children) 23.7% 35.2% 34.7% 45,185 2,392,053 24,318,038 With a Disability, Age % 9.8% 10.3% 32,560 1,608,392 20,188,257 With a Disability, Age 18-64, Labor Force Participation Rate and Size 53.4% 44.2% 41.0% 17, ,611 8,278,834 Foreign Born 14.4% 16.7% 13.2% 108,820 4,494,345 42,194,354 Speak English Less Than Very Well (population 5 yrs and over) 8.1% 14.1% 8.5% 57,353 3,518,972 25,440,956 Source: JobsEQ 1. American Community Survey , unless noted otherwise 2. Median values for certain aggregate regions (such as MSAs) may be estimated as the weighted averages of the median values from the composing counties ; Current Population Survey, unionstats.com, and Chmura; county- and zip-level data are best estimates based upon industry-, MSA-, and state-level data 4. Disconnected Youth are year olds who are (1) not in school, (2) not high school graduates, and (3) either unemployed or not in the labor force. 5. Census 2016, annual average growth rate since 2006 Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 4

33 Employment Trends As of 2017Q4, total employment for Denton County, Texas was 268,527 (based on a four-quarter moving average). Over the year ending 2017Q4, employment increased 4.5% in the region. Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are updated through 2017Q2 with preliminary estimates updated to 2017Q4. Unemployment Rate The seasonally adjusted unemployment rate for Denton County, Texas was 3.1% as of December The regional unemployment rate was lower than the national rate of 4.3%. One year earlier, in December 2016, the unemployment rate in Denton County, Texas was 3.7%. Unemployment rate data are from the Local Area Unemployment Statistics, provided by the Bureau of Labor Statistics and updated through December Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 5

34 Wage Trends The average worker in Denton County, Texas earned annual wages of $49,768 as of 2017Q4. Average annual wages per worker increased 3.9% in the region during the preceding four quarters. For comparison purposes, annual average wages were $54,343 in the nation as of 2017Q4. Annual average wages per worker data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are updated through 2017Q2 with preliminary estimates updated to 2017Q4. Cost of Living Index The Cost of Living Index estimates the relative price levels for consumer goods and services. When applied to wages and salaries, the result is a measure of relative purchasing power. The cost of living is 7.4% higher in Denton County, Texas than the U.S. average. Cost of Living Information Annual Average Salary Cost of Living Index (Base US) US Purchasing Power Denton County, Texas $49, $46,353 Texas $54, $57,716 USA $54, $54,343 Source: JobsEQ Data as of 2017Q4 Cost of Living per C2ER, data as of 2017q4, imputed by Chmura where necessary. Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 6

35 Industry Snapshot The largest sector in Denton County, Texas is Retail Trade, employing 34,203 workers. The next-largest sectors in the region are Health Care and Social Assistance (30,337 workers) and Accommodation and Food Services (29,507). High location quotients (LQs) indicate sectors in which a region has high concentrations of employment compared to the national average. The sectors with the largest LQs in the region are Educational Services (LQ = 1.31), Wholesale Trade (1.22), and Accommodation and Food Services (1.22). Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are updated through 2017Q2 with preliminary estimates updated to 2017Q4. Sectors in Denton County, Texas with the highest average wages per worker are Management of Companies and Enterprises ($122,259), Mining, Quarrying, and Oil and Gas Extraction ($87,358), and Professional, Scientific, and Technical Services ($82,731). Regional sectors with the best job growth (or most moderate job losses) over the last 5 years are Accommodation and Food Services (+8,371 jobs), Retail Trade (+7,300), and Transportation and Warehousing (+7,187). Over the next 10 years, employment in Denton County, Texas is projected to expand by 85,802 jobs. The fastest growing sector in the region is expected to be Health Care and Social Assistance with a +3.9% year-over-year rate of growth. The strongest forecast by number of jobs over this period is expected for Health Care and Social Assistance (+13,993 jobs), Retail Trade (+9,687), and Accommodation and Food Services (+9,491). Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 7

36 NAICS Industry Empl Agriculture, Forestry, Fishing and Hunting Mining, Quarrying, and Oil and Gas Extraction Current 5-Year History 10-Year Forecast Four Quarters Ending with 2017q4 Total Change Avg Ann % Chg in Empl Avg Ann Wages LQ Empl Region Separations (Approximate) Total New Demand Exits Transfers Empl ---Growth--- 1,713 $18, % 2, , % 525 $87, , % % 22 Utilities 1,449 $72, % 1, % 23 Construction 17,386 $59, , % 26,574 7,184 12,841 6, % 31 Manufacturing 16,310 $65, , % 21,821 6,866 11,721 3, % 42 Wholesale Trade 12,755 $80, , % 18,229 5,647 9,339 3, % 44 Retail Trade 34,203 $31, , % 61,273 22,774 28,812 9, % 48 Transportation and Warehousing 13,663 $44, , % 21,410 7,154 9,597 4, % 51 Information 4,514 $78, , % 6,281 1,808 3,165 1, % 52 Finance and Insurance 10,803 $77, , % 14,821 4,417 7,157 3, % Real Estate and Rental and Leasing Professional, Scientific, and Technical Services Management of Companies and Enterprises Administrative and Support and Waste Management and Remediation Services 4,930 $51, , % 7,211 2,610 3,104 1, % 17,334 $82, , % 24,191 6,522 10,937 6, % 2,434 $122, , % 3, , % 16,739 $48, , % 28,070 9,479 12,860 5, % 61 Educational Services 28,871 $47, , % 36,634 14,283 15,379 6, % Health Care and Social Assistance Arts, Entertainment, and Recreation Accommodation and Food Services Other Services (except Public Administration) 30,337 $48, , % 48,440 16,928 17,519 13, % 4,576 $23, % 8,899 3,319 4,071 1, % 29,507 $19, , % 64,382 24,303 30,587 9, % 13,385 $29, , % 21,396 7,910 9,422 4, % 92 Public Administration 6,806 $65, % 8,954 2,995 4,065 1, % 99 Unclassified 288 $45, % % Total - All Industries 268,527 $49, , % 422, , ,219 85, % Avg Ann Rate Source: JobsEQ Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are updated through 2017Q2 with preliminary estimates updated to 2017Q4. Forecast employment growth uses national projections adapted for regional growth patterns. Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 8

37 Occupation Snapshot The largest major occupation group in Denton County, Texas is Office and Administrative Support Occupations, employing 41,854 workers. The next-largest occupation groups in the region are Sales and Related Occupations (31,563 workers) and Food Preparation and Serving Related Occupations (28,662). High location quotients (LQs) indicate occupation groups in which a region has high concentrations of employment compared to the national average. The major groups with the largest LQs in the region are Food Preparation and Serving Related Occupations (LQ = 1.24), Education, Training, and Library Occupations (1.22), and Sales and Related Occupations (1.15). Occupation groups in Denton County, Texas with the highest average wages per worker are Management Occupations ($121,700), Legal Occupations ($111,100), and Computer and Mathematical Occupations ($84,000). The unemployment rate in the region varied among the major groups from 1.1% among Community and Social Service Occupations to 5.7% among Farming, Fishing, and Forestry Occupations. Over the next 10 years, the fastest growing occupation group in Denton County, Texas is expected to be Healthcare Support Occupations with a +4.2% year-over-year rate of growth. The strongest forecast by number of jobs over this period is expected for Office and Administrative Support Occupations (+10,638 jobs) and Food Preparation and Serving Related Occupations (+9,390). Over the same period, the highest separation demand (occupation demand due to retirements and workers moving from one occupation to another) is expected in Food Preparation and Serving Related Occupations (56,146 jobs) and Office and Administrative Support Occupations (52,309). Occupation Snapshot in Denton County, Texas, 2017q4 Current 5-Year History 10-Year Forecast Avg Ann Four Quarters Ending with 2017q q Total Change % Chg in Empl --Separations-- ---Growth--- SOC Occupation Empl Avg Ann Wages 1 LQ Unempl Unempl Rate Online Job Ads 2 Empl Region Total New Demand Exits Transfer Empl Avg Ann Rate Management 14,261 $121, % 2,255 2, % 17,507 4,562 8,071 4, % Business and Financial Operations Computer and Mathematical Architecture and Engineering Life, Physical, and Social Science Community and Social Service 11,659 $74, % 2,223 1, % 16,099 3,990 7,933 4, % 8,143 $84, % 4,656 1, % 9,487 1,629 4,589 3, % 3,230 $83, % % 3, ,699 1, % 1,281 $66, % % 1, % 3,459 $48, % % 5,586 1,680 2,655 1, % Legal 1,519 $111, % % 1, % Education, Training, and Library Arts, Design, Entertainment, Sports, and Media Healthcare Practitioners and Technical 18,404 $47, % 1,264 1, % 22,003 8,635 8,497 4, % 4,910 $51, % % 6,960 2,341 2,995 1, % 13,133 $77, % 1,771 3, % 13,584 4,027 4,072 5, % Healthcare Support 6,911 $30, % 790 1, % 12,892 4,652 4,751 3, % Protective Service 4,348 $42, % % 6,516 2,499 2,728 1, % Food Preparation and Serving Related Building and Grounds Cleaning and Maintenance Personal Care and Service 28,662 $22, , % 3,393 7, % 65,536 25,183 30,963 9, % 9,081 $24, % 915 1, % 15,759 6,029 6,799 2, % 10,027 $23, % 1,323 1, % 21,210 8,895 8,187 4, % Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 9

38 Occupation Snapshot in Denton County, Texas, 2017q4 Current 5-Year History 10-Year Forecast Four Quarters Ending with Total Avg Ann % Chg in 2017q q Change Empl --Separations-- ---Growth--- SOC Occupation Empl Avg Ann Wages 1 LQ Unempl Unempl Rate Online Job Ads 2 Empl Region Total New Demand Exits Transfer Empl Avg Ann Rate Sales and Related 31,563 $39, , % 4,996 6, % 57,023 20,533 27,273 9, % Office and Administrative Support Farming, Fishing, and Forestry Construction and Extraction Installation, Maintenance, and Repair 41,854 $35, , % 4,009 10, % 62,947 24,002 28,307 10, % 418 $24, % % % 12,947 $37, % 332 2, % 20,080 5,278 9,988 4, % 10,028 $42, % 1,145 1, % 14,091 4,009 6,863 3, % Production 12,988 $33, % 642 2, % 18,742 6,033 10,002 2, % Transportation and Material Moving 19,704 $33, , % 1,604 6, % 33,292 10,830 16,213 6, % Total - All Occupations 268,527 $45, n/a n/a 32,866 55, % 427, , ,576 85, % Source: JobsEQ Data as of 2017Q4 unless noted otherwise Note: Figures may not sum due to rounding. 1. Occupation wages are as of 2016 and should be taken as the average for all Covered Employment 2. Data represent found online ads active within the last thirty days in any zip code intersecting or within the selected region; data represents a sampling rather than the complete universe of postings. Occupation employment data are estimated via industry employment data and the estimated industry/occupation mix. Industry employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and currently updated through 2017Q2, imputed where necessary with preliminary estimates updated to 2017Q4. Wages by occupation are as of 2016 provided by the BLS and imputed where necessary. Forecast employment growth uses national projections from the Bureau of Labor Statistics adapted for regional growth patterns. Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 10

39 Industry Clusters A cluster is a geographic concentration of interrelated industries or occupations. The industry cluster in Denton County, Texas with the highest relative concentration is Utilities with a location quotient of This cluster employs 2,330 workers in the region with an average wage of $68,546. Employment in the Utilities cluster is projected to expand in the region about 2.0% per year over the next ten years. Location quotient and average wage data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics, imputed where necessary, and updated through 2017Q2 with preliminary estimates updated to 2017Q4. Forecast employment growth uses national projections from the Bureau of Labor Statistics adapted for regional growth patterns. Education Levels Expected growth rates for occupations vary by the education and training required. While all employment in Denton County, Texas is projected to grow 2.8% over the next ten years, occupations typically requiring a postgraduate degree are expected to grow 3.3% per year, those requiring a bachelor s degree are forecast to grow 2.9% per year, and occupations typically needing a 2-year degree or certificate are expected to grow 3.2% per year. Employment by occupation data are estimates are as of 2017Q4. Education levels of occupations are based on BLS assignments. Forecast employment growth uses national projections from the Bureau of Labor Statistics adapted for regional growth patterns. Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 11

40 Gross Domestic Product Gross Domestic Product (GDP) is the total value of goods and services produced by a region. In 2016, nominal GDP in Denton County, Texas expanded 5.5%. This follows growth of 7.5% in As of 2016, total GDP in Denton County, Texas was $28,149,490,000. Gross Domestic Product data are provided by the Bureau of Economic Analysis, imputed by Chmura where necessary, updated through Of the sectors in Denton County, Texas, Manufacturing contributed the largest portion of GDP in 2016, $3,219,788,000 The next-largest contributions came from Wholesale Trade ($2,774,719,000); Real Estate and Rental and Leasing ($2,688,460,000); and Retail Trade ($2,394,812,000). Gross Domestic Product data are provided by the Bureau of Economic Analysis, imputed by Chmura where necessary, updated through Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 12

41 FAQ What is a location quotient? A location quotient (LQ) is a measurement of concentration in comparison to the nation. An LQ of 1.00 indicates a region has the same concentration of an industry (or occupation) as the nation. An LQ of 2.00 would mean the region has twice the expected employment compared to the nation and an LQ of 0.50 would mean the region has half the expected employment in comparison to the nation. What is separation demand? Separation demand is the number of jobs required due to separations labor force exits (including retirements) and turnover resulting from workers moving from one occupation into another. Note that separation demand does not include all turnover it does not include when workers stay in the same occupation but switch employers. The total projected demand for an occupation is the sum of the separation demand and the growth demand (which is the increase or decrease of jobs in an occupation expected due to expansion or contraction of the overall number of jobs in that occupation). What is a cluster? A cluster is a geographic concentration of interrelated industries or occupations. If a regional cluster has a location quotient of 1.25 or greater, the region is considered to possess a competitive advantage in that cluster. What is the difference between industry wages and occupation wages? Industry wages and occupation wages are estimated via separate data sets, often the time periods being reported do not align, and wages are defined slightly differently in the two systems (for example, certain bonuses are included in the industry wages but not the occupation wages). It is therefore common that estimates of the average industry wages and average occupation wages in a region do not match exactly. What is NAICS? The North American Industry Classification System (NAICS) is used to classify business establishments according to the type of economic activity. The NAICS Code comprises six levels, from the all industry level to the 6-digit level. The first two digits define the top level category, known as the sector, which is the level examined in this report. What is SOC? The Standard Occupational Classification system (SOC) is used to classify workers into occupational categories. All workers are classified into one of over 820 occupations according to their occupational definition. To facilitate classification, occupations are combined to form 23 major groups, 96 minor groups, and 449 occupation groups. Each occupation group includes detailed occupations requiring similar job duties, skills, education, or experience. About This Report This report and all data herein were produced by JobsEQ, a product of Chmura Economics & Analytics. The information contained herein was obtained from sources we believe to be reliable. However, we cannot guarantee its accuracy and completeness. Source: JobsEQ, Copyright 2018 Chmura Economics & Analytics, All Rights Reserved. 13