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Population & Income

Overview

The population in Monroe County, Pennsylvania was 167,586 as of July 2020.

The county has a civilian labor force of 85,210 with a participation rate of 61.4%. Of individuals 25 to 64 in Monroe County, Pennsylvania, 24.9% have a bachelor’s degree or higher which compares with 32.9% in the nation. 

The median household income in Monroe County, Pennsylvania is $63,931 and the median house value is $167,000. 

Employment Trends

As of 2020Q1, total employment for Monroe County, Pennsylvania was 61,891 (based on a four-quarter moving average). Over the year ending 2020Q1, employment increased 0.0% in the region. 

Unemployment Rate

The seasonally adjusted unemployment rate for Monroe County, Pennsylvania was 15.7% as of May 2020. The regional unemployment rate was higher than the national rate of 11.3%. One year earlier, in May 2019, the unemployment rate in Monroe County, Pennsylvania was 5.1%.

Wage Trends

The average worker in Monroe County, Pennsylvania earned annual wages of $43,954 as of 2020Q1. Average annual wages per worker increased 3.8% in the region over the preceding four quarters. For comparison purposes, annual average wages were $57,624 in the nation as of 2020Q1.

Cost of Living Index

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 1.4% higher in Monroe County, Pennsylvania than the U.S. average. 

Industry Snapshot

The largest sector in Monroe County, Pennsylvania is Accommodation and Food Services, employing 10,326 workers. The next-largest sectors in the region are Retail Trade (9,061 workers) and Health Care and Social Assistance (8,532). 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 = 1.86), Public Administration (1.53), and Arts, Entertainment, and Recreation (1.46).

Sectors in Monroe County, Pennsylvania with the highest average wages per worker are Management of Companies and Enterprises ($133,656), Utilities ($92,202), and Manufacturing ($82,250). Regional sectors with the best job growth (or most moderate job losses) over the last 5 years are Accommodation and Food Services (+1,876 jobs), Health Care and Social Assistance (+1,2411), and Transportation and Warehousing (+926).

Over the next 1 year, employment in Monroe County, Pennsylvania is projected to contract by 355 jobs. The fastest growing sector in the region is expected to be Health Care and Social Assistance with a +0.7% year-over-year rate of growth. The strongest forecast by number of jobs over this period is expected for Health Care and Social Assistance (+61 jobs), Management of Companies and Enterprises (-1), and Utilities (-1).

Occupation Snapshot

The largest major occupation group in Monroe County, Pennsylvania is Office and Administrative Support Occupations, employing 7,180 workers. The next-largest occupation groups in the region are Food Preparation and Serving Related Occupations (7,153 workers) and Sales and Related Occupations (7,026). 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 = 1.50), Building and Grounds Cleaning and Maintenance Occupations (1.48), and Food Preparation and Serving Related Occupations (1.35).

Occupation groups in Monroe County, Pennsylvania with the highest average wages per worker are Management Occupations ($101,800), Architecture and Engineering Occupations ($84,400), and Healthcare Practitioners and Technical Occupations ($73,600). The unemployment rate in the region varied among the major groups from 2.3% among Legal Occupations to 10.9% 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 +1.2% year-over-year rate of growth. The strongest forecast by number of jobs over this period is expected for Healthcare Support Occupations (+30 jobs) and Healthcare Practitioners and Technical Occupations (+8). 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 (1,229 jobs) and Sales and Related Occupations (970).

Industry Clusters

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 19.18. This cluster employs 2,294 workers in the region with an average wage of $126,424. Employment in the Pharmaceutical cluster is projected to contract in the region about 1.2% per year over the next ten years.

Education Levels

Expected growth rates for occupations vary by the education and training required. While all employment in Monroe County, Pennsylvania is projected to contract 0.6% over the next ten years, occupations typically requiring a postgraduate degree are expected to contract 0.1% per year, those requiring a bachelor’s degree are forecast to contract 0.4% per year, and occupations typically needing a 2-year degree or certificate are expected to contract 0.2% per year.

Gross Domestic Product

Gross Domestic Product (GDP) is the total value of goods and services produced by a region. In 2018, nominal GDP in Monroe County, Pennsylvania expanded 4.7%. This follows growth of 4.2% in 2017. As of 2018, total GDP in Monroe County, Pennsylvania was $6,772,133,000.

A complete Economic Overview Report for Monroe County can be found here:  Economic-Overview-Monroe-County-Pennsylvania-July 2020-1.pdf