Bucks County, PA Bucks County Workforce Development Board, Inc. 1268 Veterans Highway Bristol, Pennsylvania 19007 Emsi Q4 2018 Data Set www.economicmodeling.com
Contents. Economy........ Overview......................................................................................... 1... Historic.......&.. Projected......... Trends............................................................................... 3... Popula on......... Characteris cs........................................................................................ 7... Industry....... Characteris cs.......................................................................................... 9... Business........ Characteris cs........................................................................................ 16... Workforce........... Characteris cs...................................................................................... 18... Educa onal........... Pipeline...................................................................................... 25... Emsi Q4 2018 Data Set www.economicmodeling.com
Economy Overview 628,815 292,637 $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 2018. 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 628,815 346,425 292,637 112.6 $36.50B $39.44B $26.86B United States 328,038,851 163,733,789 161,636,598 100.0 $19.28T $0 $8.38T Emsi Q4 2018 Data Set www.economicmodeling.com 1
Economy Overview - Cont. 2018 Labor Force Breakdown Popula on A Total Working Age Popula on 524,695 A Not in Labor Force (15+) 178,270 628,815 Popula on A Labor Force 346,425 A Employed 332,924 A Unemployed 13,501 A Under 15 104,119 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 Q4 2018 Data Set www.economicmodeling.com 2
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 2013 625,322 2014 625,806 2015 626,208 2016 626,748 2017 628,338 2018 628,815 2019 629,631 2020 630,386 2021 631,078 2022 631,716 2023 632,294 Emsi Q4 2018 Data Set www.economicmodeling.com 3
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 2013 277,679 2014 280,834 2015 284,635 2016 288,883 2017 292,333 2018 292,637 2019 294,872 2020 296,671 2021 298,225 2022 299,505 2023 300,163 Emsi Q4 2018 Data Set www.economicmodeling.com 4
Historic & Projected Trends - Cont. Labor Force Par cipa on Rate Trends Timeframe Labor Force Par cipa on Rate 2013 65.32% 2014 64.68% 2015 64.90% 2016 65.36% 2017 65.19% January - April 2018 64.26% May 2018 64.42% June 2018 65.37% July 2018 66.02% Emsi Q4 2018 Data Set www.economicmodeling.com 5
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 2013 6.59% 2014 5.24% 2015 4.67% 2016 4.62% 2017 4.24% January - April 2018 4.12% May 2018 3.24% June 2018 3.70% July 2018 3.90% Emsi Q4 2018 Data Set www.economicmodeling.com 6
Popula on Characteris cs 106,043 212,481 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. 36,943 1.08/1,000 15.12/1,000 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 15.12 property crimes per 1,000 people. The na onal rate is 24.21 per 1,000 people. Emsi Q4 2018 Data Set www.economicmodeling.com 7
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 19020. High Inbound Commuters High Outbound Commuters Where Talent Works Where Talent Lives ZIP Name 2018 Employment ZIP Name 2018 Workers 19047 Langhorne, PA (in Buck 32,662 19020 Bensalem, PA (in Bucks 30,569 18901 Doylestown, PA (in Bu 25,135 18974 Warminster, PA (in Buc 20,195 19053 Feasterville Trevose, PA 20,191 19020 Bensalem, PA (in Bucks 31,091 19067 Morrisville, PA (in Buck 28,615 18974 Warminster, PA (in Buc 23,632 18966 Southampton, PA (in Bu 23,232 18951 Quakertown, PA (in Bu 20,268 Emsi Q4 2018 Data Set www.economicmodeling.com 8
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 Q4 2018 Data Set www.economicmodeling.com 9
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 Q4 2018 Data Set www.economicmodeling.com 10
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 0.00 1.00 Emsi Q4 2018 Data Set www.economicmodeling.com 11
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 Q4 2018 Data Set www.economicmodeling.com 12
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 Q4 2018 Data Set www.economicmodeling.com 13
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 9,095 +21% 1.43 $54,150 $3.32B Retail Trade 37,468 36,884-584 -2% 1.24 $36,989 $2.58B Manufacturing 27,779 27,978 199 +1% 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 18,782 856 +5% 0.99 $90,781 $2.67B 15,226 15,894 668 +4% 0.87 $45,752 $1.12B 14,578 14,954 376 +3% 1.06 $32,953 $709.72M Wholesale Trade 13,536 13,759 223 +2% 1.26 $85,203 $3.68B Finance and Insurance 8,926 9,660 734 +8% 0.82 $96,529 $2.47B Transporta on and Warehousing 7,232 8,449 1,217 +17% 0.82 $60,353 $791.08M Arts, Entertainment, and Recrea on 7,048 7,474 426 +6% 1.48 $28,296 $554.33M Educa onal Services 5,776 6,036 260 +5% 0.79 $41,729 $294.63M Informa on 5,034 4,749-285 -6% 0.88 $96,594 $1.39B Real Estate and Rental and Leasing 3,546 3,827 281 +8% 0.78 $54,065 $1.35B Management of Companies and Enterprises Agriculture, Forestry, Fishing and Hun ng 3,694 3,107-587 -16% 0.75 $128,427 $464.43M 813 955 142 +17% 0.27 $36,742 $76.39M U li es 460 574 114 +25% 0.57 $228,038 $488.53M Emsi Q4 2018 Data Set www.economicmodeling.com 14
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 189 160-29 -15% 0.14 $64,883 $44.49M Emsi Q4 2018 Data Set www.economicmodeling.com 15
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 Q4 2018 Data Set www.economicmodeling.com 16
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 Q4 2018 Data Set www.economicmodeling.com 17
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 Q4 2018 Data Set www.economicmodeling.com 18
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 Q4 2018 Data Set www.economicmodeling.com 19
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 0.00 1.00 Emsi Q4 2018 Data Set www.economicmodeling.com 20
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 Q4 2018 Data Set www.economicmodeling.com 21
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 Q4 2018 Data Set www.economicmodeling.com 22
Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Jan 2018 - Dec 2018 Unique Average Monthly Pos ngs Office and Administra ve Support 43,550 43,794 244 +1% 1.02 $17.51 1,570 Sales and Related 33,761 33,082-679 -2% 1.13 $21.09 2,472 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 $11.63 678 12,893 18,459 5,566 +43% 1.47 $12.46 682 17,073 18,433 1,360 +8% 0.94 $17.28 4,035 16,279 18,053 1,774 +11% 1.11 $37.47 1,231 Produc on 16,867 16,999 132 +1% 1.00 $18.38 520 Educa on, Training, and Library Construc on and Extrac on 15,567 15,230-337 -2% 0.91 $27.71 600 13,594 14,452 858 +6% 1.09 $24.19 177 Management 13,221 14,153 932 +7% 0.87 $55.12 906 Installa on, Maintenance, and Repair Business and Financial Opera ons Building and Grounds Cleaning and Maintenance 12,269 12,650 381 +3% 1.10 $22.67 585 11,337 12,503 1,166 +10% 0.83 $34.10 704 10,129 9,891-238 -2% 0.92 $14.06 205 Healthcare Support 8,691 9,459 768 +9% 1.19 $14.80 369 Computer and Mathema cal Community and Social Service 6,713 7,218 505 +8% 0.86 $38.54 587 4,622 5,128 506 +11% 1.06 $23.36 230 Emsi Q4 2018 Data Set www.economicmodeling.com 23
Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Jan 2018 - Dec 2018 Unique Average Monthly Pos ngs Arts, Design, Entertainment, Sports, and Media 4,757 4,935 178 +4% 0.92 $22.21 184 Protec ve Service 4,347 4,562 215 +5% 0.69 $22.55 133 Architecture and Engineering Life, Physical, and Social Science 4,351 4,192-159 -4% 0.85 $36.90 312 2,397 2,379-18 -1% 1.01 $35.73 120 Legal 1,876 2,055 179 +10% 0.85 $44.23 53 Military-only 691 705 14 +2% 0.46 $22.25 1 Farming, Fishing, and Forestry 469 575 106 +23% 0.26 $15.53 6 Emsi Q4 2018 Data Set www.economicmodeling.com 24
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 (2013-2017) 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 Q4 2018 Data Set www.economicmodeling.com 25