The population in Monroe County, Pennsylvania was 167,306 per American Community Survey data for 2013-2017.
The region has a civilian labor force of 86,320 with a participation rate of 62.5%. Of individuals 25 to 64 in Monroe County, Pennsylvania, 24.7% have a bachelor’s degree or higher which compares with 32.3% in the nation.
The median household income in Monroe County, Pennsylvania is $61,430 and the median house value is $167,200.
As of 2018Q4, total employment for Monroe County, Pennsylvania was 61,060 (based on a four-quarter moving average). Over the year ending 2018Q4, employment increased 0.9% in the region.
The seasonally adjusted unemployment rate for Monroe County, Pennsylvania was 4.4% as of March 2019. The regional unemployment rate was higher than the national rate of 3.8%. One year earlier, in March 2018, the unemployment rate in Monroe County, Pennsylvania was 5.3%.
The average worker in Monroe County, Pennsylvania earned annual wages of $42,033 as of 2018Q4. Average annual wages per worker increased 1.4% in the region over the preceding four quarters. For comparison purposes, annual average wages were $55,713 in the nation as of 2018Q4.
The Cost of Living Index estimates the relative price levels for consumer goods and services. When applied to wages and salaries, the result is a measure of relative purchasing power. The cost of living is 3.2% higher in Monroe County, Pennsylvania than the U.S. average.
The largest sector in Monroe County, Pennsylvania is Accommodation and Food Services, employing 10,467 workers. The next-largest sectors in the region are Retail Trade (9,474 workers) and Health Care and Social Assistance (8,353). High location quotients (LQs) indicate sectors in which a region has high concentrations of employment compared to the national average. The sectors with the largest LQs in the region are Accommodation and Food Services (LQ = 1.90), Arts, Entertainment, and Recreation (1.55), and Retail Trade (1.47).
The largest major occupation group in Monroe County, Pennsylvania is Office and Administrative Support Occupations, employing 8,399 workers. The next-largest occupation groups in the region are Sales and Related Occupations (7,428 workers) and Food Preparation and Serving Related Occupations (6,855). High location quotients (LQs) indicate occupation groups in which a region has high concentrations of employment compared to the national average. The major groups with the largest LQs in the region are Life, Physical, and Social Science Occupations (LQ = 1.55), Installation, Maintenance, and Repair Occupations (1.50), and Building and Grounds Cleaning and Maintenance Occupations (1.35).
Occupation groups in Monroe County, Pennsylvania with the highest average wages per worker are Management Occupations ($104,600), Healthcare Practitioners and Technical Occupations ($78,900), and Architecture and Engineering Occupations ($75,400). The unemployment rate in the region varied among the major groups from 1.8% among Legal Occupations to 9.0% among Farming, Fishing, and Forestry Occupations.
Over the next 1 year, the fastest growing occupation group in Monroe County, Pennsylvania is expected to be Healthcare Support Occupations with a +1.4% year-over-year rate of growth. The strongest forecast by number of jobs over this period is expected for Healthcare Support Occupations (+23 jobs) and Healthcare Practitioners and Technical Occupations (+21). Over the same period, the highest separation demand (occupation demand due to retirements and workers moving from one occupation to another) is expected in Food Preparation and Serving Related Occupations (1,147 jobs) and Sales and Related Occupations (1,021).
A cluster is a geographic concentration of interrelated industries or occupations. The industry cluster in Monroe County, Pennsylvania with the highest relative concentration is Pharmaceutical with a location quotient of 20.08. This cluster employs 2,305 workers in the region with an average wage of $130,497. Employment in the Pharmaceutical cluster is projected to contract in the region about 1.3% per year over the next ten years
Expected growth rates for occupations vary by the education and training required. While all employment in Monroe County, Pennsylvania is projected to contract 0.3% over the next ten years, occupations typically requiring a postgraduate degree are expected to grow 0.4% per year, those requiring a bachelor’s degree are forecast to contract 0.2% per year, and occupations typically needing a 2-year degree or certificate are expected to grow 0.1% per year.
Gross Domestic Product (GDP) is the total value of goods and services produced by a region. In 2017, nominal GDP in Monroe County, Pennsylvania expanded 4.1%. This follows growth of 1.6% in 2016. As of 2017, total GDP in Monroe County, Pennsylvania was $6,570,901,000.
A complete Economic Overview Report for Monroe County can be found here: Economic-Overview-Monroe-County-Pennsylvania-July-9-2019-1.pdf