Economic News: Easton’s Economic and Demographic Data
Every year, I do a deep dive into Easton’s economic and demographic data to prepare for the new year. And while we all eagerly await the Census of 2020, some excellent data was made available to me, thanks to the Upper Shore Workforce Investment Board through Chmura Economics & Analysis.
A few of the highlights:
- Our population continues to grow, and in fact, has increased by about 40% since the Year 2000.
- We are becoming more racially diverse as more Hispanic families move into Town. This is possibly impacting our median age, which has dropped to 43 but still reflects an older population as compared to the State of MD and USA, which is at 38.
- Our very low rental vacancy rate and high renter-occupied unit rate both suggest that we have a very strong need for additional market-rate and affordable housing rental units in Town.
- It will come as no surprise to most that Health Care and Social Assistance is the largest sector of employment in Easton at 3,545 jobs with an average wage of $59,120. This cluster is projected to expand 0.6% per year over the next ten years.
- Education-wise, we anticipate 0.5% growth per year in occupations requiring a postgraduate degree while jobs requiring a 2-year degree or certificate are expected to grow 0.1% per year.
- There are 14,212 persons employed in Easton. 43.7% of these workers live in Talbot County. 11,630 workers commute into Easton for employment each workday. Of the 16,606 residents of Easton, 2,582 are living and employed in Easton, 5,134 are working outside of the County, and commute each workday.