Census: Frederick County outranks state, nation on economic indicators – Frederick News-Post
By Nancy Lavin
Frederick County continues to enjoy favorable economic conditions compared to the state and nation, according to the latest estimates from the U.S. Census Bureau.
More county residents benefit from high-paying jobs, evidenced by the household median income of $90,043, according to the Census Bureau’s 2016 American Community Survey estimates published Sept 14. This is 14 percent higher than Maryland’s $78,945 median income as of 2016 — the highest among the states, according to the Census. The median household income nationwide as of 2016 was $57,617.
At the same time, fewer county residents struggle with unemployment and poverty than their state and nationwide counterparts.
About 4.1 percent of county residents were unemployed as of 2016, while 7.2 percent earned below the federal poverty level. Maryland’s unemployment rate was 5.4 percent, and the poverty rate was 9.7 percent. Across the country, 5.8 percent of Americans were unemployed and 14 percent were in poverty.
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The booming biotechnology industry along the Interstate 270 corridor has also benefited Frederick, both in terms of helping existing residents secure higher-paying jobs and attracting new residents who already work in these jobs, according to Benjamin Orr, the Maryland Center for Economic Policy’s executive director.
While Orr acknowledged that the state’s economy has improved, its growth has not benefited all residents equally, as evidenced by a relatively unchanged poverty rate. He also noted that the increase in median household earnings disproportionately benefited white households, compared to black and Hispanic households, according to Census data.
“The story shows things are looking up… [but] the story really depends on where you sit in the community,” Orr said.
