Palo Pinto County, TXreports.dfwjobs.com/LMI/Profiles/PaloPinto.pdf · Job Trends From 2013 to...
Transcript of Palo Pinto County, TXreports.dfwjobs.com/LMI/Profiles/PaloPinto.pdf · Job Trends From 2013 to...
Economy Overview
Palo Pinto County, TX
600 Six Flags Drive, Suite 300
Arlington, Texas 76005
Emsi Q3 2019 Data Set | www.economicmodeling.com
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com
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Contents
Economy Overview
Historic & Projected Trends
Popula on Characteris cs
Industry Characteris cs
Business Characteris cs
Workforce Characteris cs
Educa onal Pipeline
In-Demand Skills
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com
Economy Overview
Takeaways
As of 2018 the region's popula on increased by 2.6% since 2013, growing by 732. Popula on is expected to increase by 2.1%
between 2018 and 2023, adding 592.
From 2013 to 2018, jobs increased by 4.8% in Palo Pinto County, TX from 9,613 to 10,077. This change fell short of the
na onal growth rate of 8.5% by 3.7%. As the number of jobs increased, the labor force par cipa on rate decreased from
59.1% to 58.5% between 2013 and 2018.
Concerning educa onal a ainment, 10.8% of Palo Pinto County, TX residents possess a Bachelor's Degree (7.8% below the
na onal average), and 4.7% hold an Associate's Degree (3.3% below the na onal average).
The top three industries in 2018 are Educa on and Hospitals (Local Government), Restaurants and Other Ea ng Places, and
Support Ac vi es for Mining.
28,603 10,077 $45.1KPopula on (2018) Total Regional Employment Median Household Income (2017)
Popula on grew by 732 over thelast 5 years and is projected togrow by 592 over the next 5
years.
Jobs grew by 464 over the last 5years and are projected to grow
by 809 over the next 5 years.
Median household income is$12.6K below the na onal median
household income of $57.7K.
Region 28,603 13,437 10,077 94.5 $1.12B $1.77B $1.55B
16-County Region 7,651,355 4,014,243 3,975,915 98.0 $528.63B $312.50B $378.68B
Legacy West 49,410 N/A 73,572 105.2 $15.15B $10.27B $18.61B
City of McKinney ZipCodes
218,177 N/A 81,359 105.2 $10.45B $15.44B $10.88B
Na on 328,038,851 162,012,815 163,329,158 100.0 $20.28T $0 $8.59T
Popula on(2018)
LaborForce
(2018) Jobs (2018)
Costof
Living GRP Imports Exports
Economy Overview
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2018 Labor Force Breakdown
Popula on
28,603
Educa onal A ainment
Concerning educa onal a ainment, 10.8% of Palo Pinto County, TX residents possess a Bachelor's Degree (7.8% below the
na onal average), and 4.7% hold an Associate's Degree (3.3% below the na onal average).
Popula on
A Total Working Age Popula on 22,963
A Not in Labor Force (15+) 9,526
A Labor Force 13,437
A Employed 13,007
A Unemployed 430
A Under 15 5,640
% of Popula on Popula on
A Less Than 9th Grade 10.4% 2,028
A 9th Grade to 12th Grade 8.7% 1,699
A High School Diploma 33.6% 6,574
A Some College 27.2% 5,317
A Associate's Degree 4.7% 913
A Bachelor's Degree 10.8% 2,107
A Graduate Degree and Higher 4.7% 909
Economy Overview
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Historic & Projected Trends
Popula on Trends
As of 2018 the region's popula on increased by 2.6% since 2013, growing by 732. Popula on is expected to increase by 2.1%
between 2018 and 2023, adding 592.
2013 27,872
2014 28,016
2015 27,956
2016 28,132
2017 28,570
2018 28,603
2019 28,742
2020 28,870
2021 28,988
2022 29,096
2023 29,195
Timeframe Popula on
Economy Overview
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Job Trends
From 2013 to 2018, jobs increased by 4.8% in Palo Pinto County, TX from 9,613 to 10,077. This change fell short of the na onal
growth rate of 8.5% by 3.7%.
2013 9,613
2014 9,795
2015 9,616
2016 9,720
2017 9,967
2018 10,077
2019 10,313
2020 10,506
2021 10,668
2022 10,803
2023 10,886
Timeframe Jobs
Economy Overview
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Labor Force Par cipa on Rate Trends
2014 59.68%
2015 58.71%
2016 58.42%
2017 58.35%
2018 58.81%
January 2019 57.88%
February 2019 58.45%
March 2019 58.87%
Timeframe Labor Force Par cipa on Rate
Economy Overview
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Unemployment Rate Trends
Palo Pinto County, TX had a March 2019 unemployment rate of 3.36%, decreasing from 5.14% 5 years before.
2014 5.14%
2015 5.19%
2016 5.46%
2017 4.10%
2018 3.36%
January 2019 3.79%
February 2019 3.66%
March 2019 3.36%
Timeframe Unemployment Rate
Economy Overview
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Palo Pinto County, TX has 5,001
millennials (ages 20-34). The
na onal average for an area this
size is 5,917.
Re rement risk is high in Palo Pinto
County, TX. The na onal average
for an area this size is 8,145 people
55 or older, while there are 9,593
here.
Racial diversity is low in Palo Pinto
County, TX. The na onal average
for an area this size is 11,220
racially diverse people, while there
are 7,091 here.
Palo Pinto County, TX has 1,890
veterans. The na onal average for
an area this size is 1,661.
Palo Pinto County, TX has 0.25
violent crimes per 1,000 people.
The na onal rate is 3.86 per 1,000
people.
Palo Pinto County, TX has 3.78
property crimes per 1,000 people.
The na onal rate is 22.94 per
1,000 people.
Popula on Characteris cs
5,001
Millennials
9,593
Re ring Soon
7,091
Racial Diversity
1,890
Veterans
0.25/1,000
Violent Crime
3.78/1,000
Property Crime
Economy Overview
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Where Talent Works Where Talent Lives
Place of Work vs Place of Residence
Understanding where talent in Palo Pinto County, TX currently works compared to where talent lives can help you op mize site
decisions.
76067 Mineral Wells, TX (in Palo Pinto county)… 7,286
76449 Graford, TX (in Palo Pinto county)… 828
76068 Mineral Wells, TX (in Palo Pinto county)… 597
76472 Santo, TX (in Palo Pinto county)… 536
76453 Gordon, TX (in Palo Pinto county)… 331
ZIP Name2018
Employment
76067 Mineral Wells, TX (in Palo Pinto county)… 8,417
76449 Graford, TX (in Palo Pinto county)… 1,202
76068 Mineral Wells, TX (in Palo Pinto county)… 597
76453 Gordon, TX (in Palo Pinto county)… 560
76472 Santo, TX (in Palo Pinto county)… 477
ZIP Name2018
Workers
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 8
Industry Characteris cs
Largest Industries
Industry Jobs Na onal Average
0 500 1,000 1,500
Government
Manufacturing
Retail Trade
Accommoda on and Food Services
Construc on
Mining, Quarrying, and Oil and Gas Extrac on
Health Care and Social Assistance
Other Services (except Public Administra on)
Administra ve and Support and Waste Management andRemedia on Services
Transporta on and Warehousing
Finance and Insurance
Professional, Scien fic, and Technical Services
Wholesale Trade
Real Estate and Rental and Leasing
Agriculture, Forestry, Fishing and Hun ng
U li es
Arts, Entertainment, and Recrea on
Informa on
Educa onal Services
Economy Overview
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Top Growing Industries
Industry Jobs Growth
0 50 100 150 200 250
Manufacturing
Accommoda on and Food Services
Construc on
Transporta on and Warehousing
Health Care and Social Assistance
Administra ve and Support and Waste Management andRemedia on Services
Finance and Insurance
Government
Real Estate and Rental and Leasing
Retail Trade
Other Services (except Public Administra on)
Informa on
Economy Overview
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Top Industry LQ
Industry LQ
0.00 5.00 10.00 15.00
Mining, Quarrying, and Oil and Gas Extrac on
U li es
Manufacturing
Retail Trade
Construc on
Government
Accommoda on and Food Services
Other Services (except Public Administra on)
Agriculture, Forestry, Fishing and Hun ng
Real Estate and Rental and Leasing
Transporta on and Warehousing
Finance and Insurance
Administra ve and Support and Waste Management andRemedia on Services
Wholesale Trade
Arts, Entertainment, and Recrea on
Health Care and Social Assistance
Professional, Scien fic, and Technical Services
Informa on
Educa onal Services
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 11
Top Industry GRP
2018 Gross Regional Product
$0.000 $50.00M $100.0M $150.0M $200.0M
Manufacturing
Mining, Quarrying, and Oil and Gas Extrac on
Government
Retail Trade
Agriculture, Forestry, Fishing and Hun ng
Construc on
U li es
Wholesale Trade
Finance and Insurance
Accommoda on and Food Services
Transporta on and Warehousing
Real Estate and Rental and Leasing
Health Care and Social Assistance
Professional, Scien fic, and Technical Services
Other Services (except Public Administra on)
Administra ve and Support and Waste Management andRemedia on Services
Informa on
Arts, Entertainment, and Recrea on
Educa onal Services
Economy Overview
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Top Industry Earnings
2018 Earnings Per Worker
$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000
U li es
Mining, Quarrying, and Oil and Gas Extrac on
Manufacturing
Transporta on and Warehousing
Finance and Insurance
Government
Wholesale Trade
Professional, Scien fic, and Technical Services
Informa on
Real Estate and Rental and Leasing
Construc on
Health Care and Social Assistance
Agriculture, Forestry, Fishing and Hun ng
Administra ve and Support and Waste Management andRemedia on Services
Arts, Entertainment, and Recrea on
Retail Trade
Educa onal Services
Other Services (except Public Administra on)
Accommoda on and Food Services
Economy Overview
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Government 1,849 1,869 20 +1% 1.23 $58,886 $120.63M
Manufacturing 1,358 1,635 277 +20% 2.06 $84,851 $247.38M
Retail Trade 1,284 1,298 14 +1% 1.28 $30,542 $66.73M
Accommoda on and Food Services 926 1,045 119 +13% 1.21 $18,202 $32.85M
Construc on 623 702 79 +13% 1.24 $43,290 $46.32M
Mining, Quarrying, and Oil and GasExtrac on
754 682 -72 -10% 16.14 $93,827 $186.60M
Health Care and Social Assistance 519 581 62 +12% 0.45 $34,207 $24.35M
Other Services (except PublicAdministra on)
497 506 9 +2% 1.06 $23,733 $18.68M
Administra ve and Support andWaste Management and Remedia onServices
310 340 30 +10% 0.54 $31,586 $15.73M
Transporta on and Warehousing 175 247 72 +41% 0.67 $69,493 $32.64M
Finance and Insurance 198 222 24 +12% 0.55 $66,817 $37.30M
Professional, Scien fic, and TechnicalServices
225 222 -3 -1% 0.34 $57,087 $20.24M
Wholesale Trade 291 196 -95 -33% 0.53 $57,246 $38.71M
Real Estate and Rental and Leasing 121 139 18 +15% 0.82 $45,940 $27.04M
Agriculture, Forestry, Fishing andHun ng
138 121 -17 -12% 1.03 $33,877 $47.11M
U li es 107 102 -5 -5% 2.97 $126,735 $44.75M
Arts, Entertainment, and Recrea on 167 91 -76 -46% 0.52 $30,946 $4.21M
Informa on 25 28 3 +12% 0.15 $52,107 $5.21M
Educa onal Services 37 28 -9 -24% 0.11 $30,078 $993.48K
Industry2013Jobs
2018Jobs Change in Jobs
%Changein Jobs
2018LQ
2018 EarningsPer Worker 2018 GRP
Economy Overview
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Business Characteris cs
1,795 Companies Employ Your Workers
Online profiles for your workers men on 1,795 companies as employers, with the top 10 appearing below. In the last 12 months,
480 companies in Palo Pinto County, TX posted job pos ngs, with the top 10 appearing below.
Mineral Wells 103
Palo Pinto Insurance Agency 84
Wal-Mart Stores, Inc. 52
Correc ons Corpora on of America… 49
Pecofacet 40
Cantex Inc. 34
Ventama c, Ltd. 23
City of Mineral Wells 21
Baker Hughes Incorporated 15
Mwid 15
Top Companies Profiles
CRST Interna onal, Inc. 277
Chalk Mountain Services of Texas, LLC… 241
Palo Pinto County Hospital District… 226
Travelers Healthcare 181
Dollar General Corpora on 119
Groendyke Transport Inc. 112
Telereach Inc 79
Homeadvisor, Inc. 68
Hvh Transporta on, Inc. 58
Mesilla Valley Transporta on 52
Top Companies Pos ng Unique Pos ngs
Economy Overview
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Business Size
*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.
Percentage Business Count
A 1 to 4 employees 38.4% 411
A 5 to 9 employees 27.2% 291
A 10 to 19 employees 19.6% 210
A 20 to 49 employees 11.7% 125
A 50 to 99 employees 2.5% 27
A 100 to 249 employees 0.3% 3
A 250 to 499 employees 0.3% 3
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 16
Workforce Characteris cs
Largest Occupa ons
Occupa on Jobs Na onal Average
0 200 400 600 800 1,000 1,200 1,400
Office and Administra ve Support
Produc on
Sales and Related
Food Prepara on and Serving Related
Construc on and Extrac on
Transporta on and Material Moving
Healthcare Prac oners and Technical
Educa on, Training, and Library
Installa on, Maintenance, and Repair
Management
Building and Grounds Cleaning and Maintenance
Personal Care and Service
Business and Financial Opera ons
Protec ve Service
Healthcare Support
Architecture and Engineering
Community and Social Service
Farming, Fishing, and Forestry
Arts, Design, Entertainment, Sports, and Media
Computer and Mathema cal
Legal
Life, Physical, and Social Science
Military-only
Economy Overview
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Top Growing Occupa ons
Occupa on Jobs Growth
0 50 100 150
Produc on
Food Prepara on and Serving Related
Educa on, Training, and Library
Sales and Related
Transporta on and Material Moving
Management
Community and Social Service
Business and Financial Opera ons
Installa on, Maintenance, and Repair
Personal Care and Service
Arts, Design, Entertainment, Sports, and Media
Legal
Protec ve Service
Farming, Fishing, and Forestry
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 18
Top Occupa on LQ
Occupa on LQ
0.00 1.00
Produc on
Construc on and Extrac on
Installa on, Maintenance, and Repair
Farming, Fishing, and Forestry
Food Prepara on and Serving Related
Sales and Related
Architecture and Engineering
Healthcare Prac oners and Technical
Transporta on and Material Moving
Protec ve Service
Educa on, Training, and Library
Building and Grounds Cleaning and Maintenance
Office and Administra ve Support
Management
Healthcare Support
Personal Care and Service
Community and Social Service
Legal
Life, Physical, and Social Science
Business and Financial Opera ons
Arts, Design, Entertainment, Sports, and Media
Military-only
Computer and Mathema cal
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 19
Top Occupa on Earnings
2018 Median Hourly Earnings
$0.00 $10.00 $20.00 $30.00
Management
Architecture and Engineering
Life, Physical, and Social Science
Computer and Mathema cal
Legal
Business and Financial Opera ons
Healthcare Prac oners and Technical
Community and Social Service
Protec ve Service
Educa on, Training, and Library
Installa on, Maintenance, and Repair
Construc on and Extrac on
Arts, Design, Entertainment, Sports, and Media
Produc on
Transporta on and Material Moving
Office and Administra ve Support
Military-only
Sales and Related
Healthcare Support
Farming, Fishing, and Forestry
Building and Grounds Cleaning and Maintenance
Food Prepara on and Serving Related
Personal Care and Service
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 20
Top Posted Occupa ons
Unique Average Monthly Pos ngs
0 100 200 300
Transporta on and Material Moving
Healthcare Prac oners and Technical
Sales and Related
Food Prepara on and Serving Related
Office and Administra ve Support
Management
Installa on, Maintenance, and Repair
Produc on
Healthcare Support
Educa on, Training, and Library
Computer and Mathema cal
Business and Financial Opera ons
Architecture and Engineering
Personal Care and Service
Construc on and Extrac on
Building and Grounds Cleaning and Maintenance
Arts, Design, Entertainment, Sports, and Media
Community and Social Service
Protec ve Service
Life, Physical, and Social Science
Economy Overview
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Underemployment
Jobs Requiring Ed. Level Popula on at Ed. Level
0% 10% 20% 30% 40%
No Formal Educa on Required
High School Diploma or Equivalent
Some College, Non-Degree Award
Associate's Degree
Bachelor's Degree
Graduate Degree and Higher
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 22
Office andAdministra ve Support
1,275 1,244 -31 -2% 0.86 $14.52 47
Produc on 982 1,146 164 +17% 1.95 $16.08 38
Sales and Related 1,047 1,095 48 +5% 1.10 $11.55 123
Food Prepara on andServing Related
932 1,026 94 +10% 1.22 $9.80 57
Construc on andExtrac on
805 801 -4 0% 1.72 $18.75 7
Transporta on andMaterial Moving
640 679 39 +6% 0.99 $15.35 365
Healthcare Prac onersand Technical
582 579 -3 -1% 1.03 $23.50 141
Educa on, Training, andLibrary
467 536 69 +15% 0.94 $20.13 18
Installa on,Maintenance, and Repair
477 497 20 +4% 1.26 $18.81 38
Management 449 479 30 +7% 0.82 $36.48 41
Building and GroundsCleaning andMaintenance
337 325 -12 -4% 0.89 $10.28 6
Personal Care andService
294 309 15 +5% 0.70 $9.67 10
Business and FinancialOpera ons
240 265 25 +10% 0.50 $27.76 14
Protec ve Service 209 214 5 +2% 0.95 $21.74 4
Healthcare Support 237 210 -27 -11% 0.78 $11.12 23
Architecture andEngineering
192 186 -6 -3% 1.09 $35.17 10
Community and SocialService
84 110 26 +31% 0.65 $22.59 5
Farming, Fishing, andForestry
90 94 4 +4% 1.25 $10.62 0
Occupa on2013Jobs
2018Jobs Change in Jobs
%Changein Jobs
2018LQ
2018 MedianHourly Earnings
Oct 2018 - Sep 2019Unique Average Monthly
Pos ngs
Economy Overview
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Arts, Design,Entertainment, Sports,and Media
82 92 10 +12% 0.50 $18.32 6
Computer andMathema cal
77 72 -5 -6% 0.25 $29.49 16
Legal 40 45 5 +13% 0.53 $28.03 0
Life, Physical, and SocialScience
42 42 0 0% 0.51 $29.86 2
Military-only 31 29 -2 -6% 0.48 $14.45 0
Occupa on2013Jobs
2018Jobs Change in Jobs
%Changein Jobs
2018LQ
2018 MedianHourly Earnings
Oct 2018 - Sep 2019Unique Average Monthly
Pos ngs
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 24
Educa onal Pipeline
Over the last 5 years, no schools in Palo Pinto County, TX produced graduates.
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 25
In-Demand Skills
Top Hard Skills Na onal Average
0 100 200 300 400 500 600
Nursing
Merchandising
Restaurant Opera on
Local Class
Cash Register
Purchasing
Mechanics
Advanced Cardiovascular Life Support (ACLS)
Cardiopulmonary Resuscita on (CPR)
Microso Access
Economy Overview
Emsi Q3 2019 Data Set | www.economicmodeling.com 26