Denton County, TX

[Pages:36]Economy Overview

Denton County, TX

600 Six Flags Drive, Suite 300 Arlington, Texas 76005

Emsi Q1 2020 Data Set |

Economy Overview

Contents

.R.e.p.o.r.t.P. a. r.a.m. .e.t.e.r.s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1. . . . . . . .E.c.o.n.o.m. .y. O. .v.e. r.v.i.e.w. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2. . . . . . . .H.i.s.to. r. i.c. &. . P. .ro. .je.c.t.e.d. .T.re. n. .d.s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4. . . . . . . .P.o.p.u. l.a. .o.n. .C. h. a. r.a.c.t.e.r.is. . c. s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8. . . . . . . .In. d. u. .st. r.y. .C.h.a.r.a.c.t.e.ri.s. .c.s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1.0. . . . . . . .B.u.s.in. .e.s.s.C. h. .a.ra. c. t.e. r.is. . .c.s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1.6. . . . . . . .W. .o.rk. .fo. .rc. e. .C. h. a. r.a.c.t.e.r.is. . c. s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1.8. . . . . . . .E.d.u.c.a. . o. .n.a.l .P.i.p.e.li.n.e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2.6. . . . . . . .In. -.D. .e.m. a. n. .d. S. k. .ill.s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2.7. . . . . . .

Emsi Q1 2020 Data Set |

Economy Overview

Report Parameters

1 County

48121 Denton County, TX

Class of Worker

QCEW Employees, Non-QCEW Employees, and Self-Employed

The informa on in this report pertains to the chosen geographical area.

Emsi Q1 2020 Data Set |

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Economy Overview

Economy Overview

883,705

Popula on (2019)

Popula on grew by 130,271 over the last 5 years and is projected to

grow by 94,248 over the next 5 years.

291,812

Total Regional Employment

Jobs grew by 52,213 over the last 5 years and are projected to grow by 42,271 over the next 5 years.

$80.3K

Median Household Income (2017)

Median household income is $22.6K above the na onal median

household income of $57.7K.

Takeaways

As of 2019 the region's popula on increased by 17.3% since 2014, growing by 130,271. Popula on is expected to increase by 10.7% between 2019 and 2024, adding 94,248. From 2014 to 2019, jobs increased by 21.8% in Denton County, TX from 239,599 to 291,812. This change outpaced the na onal growth rate of 7.3% by 14.5%. As the number of jobs increased, the labor force par cipa on rate decreased from 71.0% to 70.9% between 2014 and 2019. Concerning educa onal a ainment, 28.9% of Denton County, TX residents possess a Bachelor's Degree (10.1% above the na onal average), and 7.6% hold an Associate's Degree (0.5% 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 Educa on and Hospitals (State Government).

Region WSNCT Service Area 16-County Region City of McKinney Zip Codes Na on

Popula on (2019)

883,705 3,008,708 7,797,634

Labor Force (2019) 501,218 1,590,685 4,084,633

Jobs (2019) 291,812

1,135,142 4,030,271

Cost of

Living

GRP

Imports

Exports

100.5 $34.03B $50.30B $24.21B

96.9 $144.34B $164.56B $112.04B

98.0 $544.73B $327.32B $395.49B

224,683

N/A

83,218 105.2 $10.63B $15.78B $11.22B

329,399,330 164,576,320 164,699,638 100.0 $20.78T

$0

$8.91T

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Economy Overview

2019 Labor Force Breakdown

883,705

Popula on

A Total Working Age Popula on

A

Not in Labor Force (15+)

A

Labor Force

A

Employed

A

Unemployed

A Under 15

Popula on 706,727 205,509 501,218 487,481 13,737 176,978

Educa onal A ainment

Concerning educa onal a ainment, 28.9% of Denton County, TX residents possess a Bachelor's Degree (10.1% above the na onal average), and 7.6% hold an Associate's Degree (0.5% below the na onal average).

A Less Than 9th Grade A 9th Grade to 12th Grade A High School Diploma A Some College A Associate's Degree A Bachelor's Degree A Graduate Degree and Higher

% of Popula on 5.3% 3.5%

18.2% 22.2%

7.6% 28.9% 14.3%

Popula on 31,086 20,569

106,257 129,758

44,422 169,329

83,591

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Economy Overview

Historic & Projected Trends

Popula on Trends

As of 2019 the region's popula on increased by 17.3% since 2014, growing by 130,271. Popula on is expected to increase by 10.7% between 2019 and 2024, adding 94,248.

Timeframe 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Emsi Q1 2020 Data Set |

Popula on 753,434 779,536 807,890 835,336 859,064 883,705 905,947 926,383 945,127 962,285 977,953

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Economy Overview

Job Trends

From 2014 to 2019, jobs increased by 21.8% in Denton County, TX from 239,599 to 291,812. This change outpaced the na onal growth rate of 7.3% by 14.5%.

Timeframe 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Emsi Q1 2020 Data Set |

Jobs 239,599 254,671 265,528 277,543 285,579 291,812 303,691 313,574 322,011 329,310 334,083

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Economy Overview

Labor Force Par cipa on Rate Trends

Timeframe 2014 2015 2016 2017 2018 January - July 2019 August 2019 September 2019 October 2019

Emsi Q1 2020 Data Set |

Labor Force Par cipa on Rate 70.36% 70.03% 70.91% 71.23% 70.49% 69.83% 70.24% 70.66% 70.92%

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