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


. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26

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


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

Emsi Q3 2019 Data Set | www.economicmodeling.com 1

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


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


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


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


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


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


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


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


Top Growing Industries

Industry Jobs Growth

0 50 100 150 200 250

Manufacturing


Construc on





Government


Retail Trade


Informa on

Economy Overview


Top Industry LQ

Industry LQ

0.00 5.00 10.00 15.00


U li es

Manufacturing

Retail Trade

Construc on

Government








Wholesale Trade




Informa on

Educa onal Services

Economy Overview


Top Industry GRP

2018 Gross Regional Product

$0.000 $50.00M $100.0M $150.0M $200.0M

Manufacturing


Government

Retail Trade


Construc on

U li es

Wholesale Trade









Informa on


Educa onal Services

Economy Overview


Top Industry Earnings

2018 Earnings Per Worker

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000

U li es


Manufacturing



Government

Wholesale Trade


Informa on


Construc on





Retail Trade

Educa onal Services



Economy Overview


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


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


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







Economy Overview


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


Top Growing Occupa ons

Occupa on Jobs Growth

0 50 100 150

Produc on



Sales and Related


Management






Legal

Protec ve Service


Economy Overview


Top Occupa on LQ

Occupa on LQ

0.00 1.00

Produc on





Sales and Related




Protec ve Service




Management

Healthcare Support



Legal




Military-only


Economy Overview


Top Occupa on Earnings

2018 Median Hourly Earnings

$0.00 $10.00 $20.00 $30.00

Management




Legal




Protec ve Service





Produc on



Military-only

Sales and Related

Healthcare Support





Economy Overview


Top Posted Occupa ons

Unique Average Monthly Pos ngs

0 100 200 300



Sales and Related



Management


Produc on

Healthcare Support










Protec ve Service


Economy Overview


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


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


%Changein Jobs

2018LQ

2018 MedianHourly Earnings

Oct 2018 - Sep 2019Unique Average Monthly

Pos ngs

Economy Overview


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


%Changein Jobs

2018LQ

2018 MedianHourly Earnings

Oct 2018 - Sep 2019Unique Average Monthly

Pos ngs

Economy Overview


Educa onal Pipeline

Over the last 5 years, no schools in Palo Pinto County, TX produced graduates.

Economy Overview


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


palo pinto county, txreports.dfwjobs.com/lmi/profiles/palopinto.pdf · job trends from 2013 to...

Documents