COUNTRIES

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REGIONSMassachusettsCHAPTER

01PopulationResidentpopulationoftheU.S.in2022,bystate(includingtheDistrictofColumbia)(inmillions)PopulationinthestatesoftheU.S.2022Numberofresidentsinmillions20

2505101530354045CaliforniaTexas39.0330.03Florida22.24NewYorkPennsylvaniaIllinoisOhioGeorgiaNorthCarolinaMichiganNewJerseyVirginia19.6812.9712.5811.7610.9110.710.039.268.687.79Washington3Description:CaliforniawasthestatewiththehighestresidentpopulationintheUnitedStatesin2022,with39.03millionpeople.Wyominghadthelowestpopulationwithabout581,000residents.ReadmoreNote(s):UnitedStates;2022Source(s):USCensusBureauResidentpopulationinMassachusettsfrom1960to2022(inmillions)ResidentpopulationinMassachusetts1960-20227.57

6.996.986.886.896.867.06.56.05.55.04.56.826.796.766.716.666.616.576.596.546.56.476.446.456.456.456.416.366.326.276.236.186.146.16.066.026.026.026.035.985.945.95.885.845.85.775.775.745.695.154Description:In1960,around5.15millionpeoplelivedinMassachusetts.By2022,thisfigurehadincreasedtoabout6.98millionpeopleandpeakedin2020ataround7millionresidentsinthestate.ReadmoreNote(s):UnitedStates;1960to2022Source(s):USCensusBureauDistributionofresidentpopulationofMassachusettsin2021,byagegroupPopulationshareofMassachusetts2021,byagegroup16%14%12%10%8%14%12.9%12.5%10.5%6.9%6.9%6.8%6.6%5.8%6%4%2%0%5.2%5%4.8%2.1%Under55to910to1415to1920to2425to3435to44Yearsofage45to5455to5960to6465to7475to84

85andover5Description:In2021,about14percentofthepopulationinMassachusettswasbetweentheagesof25and34yearsold.Afurther12.9percentofthepopulationwasbetweentheagesof35and44yearsoldinthatsameyear.

ReadmoreNote(s):UnitedStates;2021Source(s):USCensusBureauResidentpopulationofMassachusettsin2021,byraceandethnicityPopulationofMassachusetts2021,byraceandethnicityNumberofresidents0500,000

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5,000,000WhitealoneHispanicorLatino(ofanyrace)Asianalone4,713,213897,350489,808BlackorAfricanAmericanaloneTwoormoreraces437,589347,994Someotherracealone92,190AmericanIndianandAlaskaNativealone

5,116NativeHawaiianandOtherPacificIslanderalone

1,4636Description:In2021,about897,350peopleinMassachusettswereofHispanicorLatinoorigin.Furthermore,therewereabout4.71millionwhitepeopleand489,808AsianpeoplelivinginMassachusettsinthatyear.

ReadmoreNote(s):UnitedStates;2021Source(s):USCensusBureauPercentageofforeign-bornpopulationintheUnitedStatesin2022,bystateU.S.percentageofforeign-bornpopulation2022,bystatePercentageofpopulation10%

15%0%5%20%25%30%CaliforniaNewJerseyNewYork26.7%23.5%22.7%21.7%FloridaNevada18.9%MassachusettsTexas18%17.2%17.1%16.7%15.7%15.3%14.9%14.4%HawaiiMarylandConnecticutWashingtonDistrictofColumbiaRhodeIsland7Description:Asof2022,26.7percentofCalifornia'spopulationwereborninacountryotherthantheUnitedStates.NewJersey,NewYork,Florida,andHawaiiroundedoutthetopfivestateswiththelargestpopulationofforeignbornresidentsinthatyear.Forthecountryasawhole,13.9percentofresidentswereforeignborn.ReadmoreNote(s):UnitedStates;2022Source(s):USCensusBureauEducationalattainmentinMassachusettsin2021EducationalattainmentinMassachusetts202130%25%25.3%22.8%21.3%20%15%10%5%14.1%7.6%4.5%4.4%0%Lessthan9thgrade

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degreeAssociate'sdegreeBachelor'sdegreeGraduateorprofessionaldegree8Description:In2021,about25.3percentofpeopleinMassachusettsagedover25yearsheldaBachelor'sdegreeastheirhighestlevelofeducation.Furthermore,about22.8percentofpeopleinthestatehadahighschooldiplomaorequivalencyastheirhighestlevelofeducation.ReadmoreNote(s):UnitedStates;2021;25yearsandolderSource(s):USCensusBureauProjectedstatepopulationoftheUnitedStatesin2040,bystate(inmillions)U.S.-projectedstatepopulationbystate2040Projectedpopulationinmillions15

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2505103035404550AlabamaAlaska5.060.82Arizona9.17ArkansasCaliforniaColoradoConnecticutDelawareDistrictofColumbiaFlorida3.2246.477.693.541.161.0628.89Georgia12.82HawaiiIdaho1.622.239Description:ThisstatisticrepresentsprojectedpopulationoftheUnitedStatesin2040,brokendownbystate.In2040,California'spopulationwillamountto46.47millioninhabitantsReadmoreNote(s):UnitedStates;December2018Source(s):UniversityofVirginia(WeldonCooperCenterforPublicService)CHAPTER

02EconomyRealgrossdomesticproduct(GDP)oftheUnitedStatesin2022,bystate(inbillionchained2017U.S.dollars)U.S.realgrossdomesticproduct2022,bystateRealGDPinbillionchained(2017)U.S.dollars05001,0001,5002,0002,5003,0003,500CaliforniaTexas3,167.461,924.01NewYorkFlorida1,763.531,218.43Illinois864.17772.34765.26689.68655.83PennsylvaniaWestVirginiaOhioGeorgiaNewJerseyWashingtonNorthCarolinaMassachusetts646.73641.14609.06604.3611Description:In2022,thestateofCaliforniaaddedabout3.2trillionchained(2017)U.S.dollarsofvaluetotheU.S.realgrossdomesticproduct(GDP).TotalrealGDPamountedtoabout21.8trillionchained(2017)U.S.dollars.

ReadmoreNote(s):UnitedStates;2022Source(s):BEARealgrossdomesticproductofMassachusettsintheUnitedStatesfrom2000to2022(inbillionU.S.dollars)U.S.realGDPofMassachusetts2000-2022600550500450543.87533.1514.17501.54500482.81475.35468.06451.57444.87442.92434.49425.79414.92406.42407.22395.54386.8400350300379.09369.01362.66362.58358.122000

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202212Description:In2022,therealgrossdomesticproduct(GDP)ofMassachusettswasabout543.87billionU.S.dollars.Thisisanincreasefromthepreviousyear,whenthestate'sGDPstoodat533.1billionU.S.dollars.

ReadmoreNote(s):UnitedStates;2000to2022Source(s):BEAAnnualpercentchangeintherealgrossdomesticproductofMassachusettsintheUnitedStatesfrom2000to2022U.S.annualGDPgrowthinMassachusetts2000-202210%8%8%6.4%6%4.6%3.7%3.6%4%3.2%2.8%2.7%2.3%2.1%2.1%2%2%1.9%1.8%1.6%

1.6%2%1.5%1.3%0.4%0%0%-2%-4%-1.9%-1.9%2000

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202213Description:In2022,therealgrossdomesticproduct(GDP)ofMassachusettsincreasedbyroughly2.1percentcomparedtothepreviousyear.Thestate'sGDPexperiencedthemostgrowthin2000,whenitincreasedbyeightpercentwhencomparedtothepreviousyear.ReadmoreNote(s):UnitedStates;2000to2022Source(s):BEARealpercapitagrossdomesticproductoftheUnitedStatesin2022,bystate(inchained2012U.S.dollars)U.S.realpercapitaGDP2022,bystatePercapitarealGDPinchained2012U.S.dollars60,000

80,000

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120,000020,00040,000140,000160,000180,000200,000220,000DistrictofColumbiaNewYork192,419.879,434.45MassachusettsWashingtonCalifornia77,896.5574,773.6573,934.82ConnecticutNorthDakotaAlaska69,641.2168,174.0867,659.2866,068.4464,567.03ColoradoDelawareIllinoisNewJerseyNebraska63,421.3262,807.562,776.6414Description:Outofall50states,NewYorkhadthehighestper-capitarealgrossdomesticproduct(GDP)in2022,at79,434U.S.dollars,followedcloselybyMassachusetts.Mississippihadthelowestper-capitarealGDP,at35,555U.S.dollars.Whilenotastate,theDistrictofColumbiahadapercapitaGDPofmorethan192,000U.S.dollars.ReadmoreNote(s):UnitedStates;2022Source(s):BEARealvalueaddedtothegrossdomesticproductofMassachusettsintheUnitedStatesin2022,byindustry(inbillionchained2012U.S.dollars)U.S.realvalueaddedtoGDPinMassachusetts2022,byindustryRealvalueaddedinbillionchained(2012)U.S.dollars020406080100120140ProfessionalandbusinessservicesFinance,insurance,realestate,rental,andleasingEducationalservices,healthcare,andsocialassistanceManufacturing121.77109.9266.3650.3248.65GovernmentandgovernmententerprisesInformation46.43Wholesaletrade25.6421.0419.0215.13RetailtradeArts,entertainment,recreation,accommodation,andfoodservicesConstructionTransportationandwarehousingUtilities8.227.93Agriculture,forestry,fishingandhuntingMining,quarrying,andoilandgasextraction0.690.1615Description:In2022,theGDPofMassachusettsamountedtoaround543.87billionU.S.dollars.Inthatyear,thefinance,insurance,realestate,rental,andleasingindustryaddedabout109.92billionchained2012U.S.dollarsofvaluetothestateGDP.

ReadmoreNote(s):UnitedStates;2022Source(s):BEANumberofbusinessestablishmentsinMassachusettsintheUnitedStatesin2021,byindustryU.S.numberbusinessestablishmentsinMassachusettsbyindustry2021Numberofestablishments5,000010,00015,00020,00025,000RetailtradeProfessional,scientific,andtechnicalservicesConstruction22,47421,76220,70019,89818,43817,480HealthcareandsocialassistanceOtherservices(exceptpublicadministration)AccommodationandfoodservicesAdministrativeandsupportandwastemanagementandremediationservicesFinanceandinsurance11,5439,632RealestateandrentalandleasingWholesaletrade8,1196,9135,998ManufacturingTransportationandwarehousingInformation4,4853,70916Description:ThisstatisticshowsthenumberofbusinessestablishmentsinMassachusettsin2021,byindustry.In2021,thenumberofMassachusettsbusinessestablishmentsintheprofessional,scientific,andtechnicalservicesindustrytotaledto21,762.ReadmoreNote(s):UnitedStates;2021Source(s):USCensusBureauLeadingpubliclytradedcompaniesinMassachusettsintheUnitedStatesin2021,byrevenue(inbillionU.S.dollars)U.S.topcompaniesinMassachusetts2021,byrevenueRevenueinbillionU.S.dollars0102030405060708090GeneralElectricRaytheonTechnologiesLibertyMutualInsuranceGroupThermoFisherScientificTJX79.6256.5943.832.2232.14MassachusettsMutualLifeInsuranceBJ'sWholesaleClubWayfair23.6615.4314.1513.4412.0811.629.918.9BiogneStateStreetCorp.KeurigDrPepperBostonScientificEversourceEnergy17Description:In2021,theleadingpubliclytradedcompanywithheadquartersinMassachusettswasGeneralElectric.Thatyear,GeneralElectrictoppedthelistwitharevenueofabout79.62billionU.S.dollars.ReadmoreNote(s):UnitedStates;2021Source(s):FortuneCHAPTER

03Employment&EarningsNumberofnonfarmemployeesinMassachusettsUnitedStatesfrom2000to2022(in1,000s)U.S.numberofnonfarmemployeesinMassachusetts2000-20223,7503,6503,5503,4503,3503,2503,1502000

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202219Description:In2022,thetotalnumberofnonfarmemployeesinMassachusettsstoodatabout3.68millionpeople.Employedpersonsconsistof:personswhodidanyworkforpayorprofitduringthesurveyreferenceweek;personswhodidatleast15hoursofunpaidworkinafamily-operatedenterprise;andpersonswhoweretemporarilyabsentfromtheirregularjobsbecauseofillness,vacation,badweather,industrialdispute,orvariouspersonalreasons.

ReadmoreNote(s):UnitedStates;2000to2022;16yearsandolderSource(s):BureauofLaborStatisticsNumberofnonfarmemployeesinMassachusettsintheUnitedStatesin2022,byindustry(in1,000s)U.S.numberofnonfarmemployeesinMassachusetts2022,byindustryNumberofemployedpersonsinthousands0100200300400500600700800809.2900EducationandHealthServicesProfessionalandBusinessServicesTrade,Transportation,andUtilitiesGovernment635.5564.8453LeisureandHospitalityManufacturing345238FinancialActivities227.5Construction169.9OtherServices134.6Information97.2MiningandLogging120/statistics/551842/massachusetts-employees-industryIn2022,about809,200peopleworkedintheeducationandhealthservicesindustryinMassachusetts--themostoutofanyindustry.Theprofessionalandbusinessservicesindustryemployedthesecondhighestnumberofpeople,at635,500people.ReadmoreNote(s):UnitedStates;2022;16yearsandolderSource(s):BureauofLaborStatisticsUnemploymentrateinMassachusettsintheUnitedStatesfrom1992to2022U.S.unemploymentrateinMassachusetts1992-202210.0%8.8%9.4%9.0%8.0%7.0%6.0%5.0%4.0%3.0%2.0%8.1%8.1%7.3%7.2%6.7%6.6%6.2%5.7%5.7%5.5%5.5%5.3%5.2%5.1%4.8%4.8%4.7%4.6%4.5%4.1%4%3.8%3.8%3.8%3.5%3.4%3.3%3%2.8%'92

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'2221Description:In2022,theunemploymentrateinMassachusettsstoodat3.8percent.Thisisadecreasefromthepreviousyear,whentheunemploymentratewasat5.5percent.

ReadmoreNote(s):UnitedStates;1992to2022Source(s):BureauofLaborStatisticsAverageannualpayofemployeesinMassachusettsintheUnitedStatesfrom2001to2022(incurrentU.S.dollars)U.S.averageannualpayofemployeesinMassachusetts2001-2022100,00090,00080,00070,00060,00050,00040,00030,00020,00010,00002001

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202222Description:In2022,theaverageannualpayofemployeesinMassachusettstotaledto89,731U.S.dollars.Thisisanincreasefrom2001levels,whenthisfigurestoodat44,975U.S.dollars.

ReadmoreNote(s):UnitedStates;2001to2022Source(s):BureauofLaborStatisticsMedianhouseholdincomeinMassachusettsfrom1990to2021(incurrentU.S.dollars)Massachusetts-medianhouseholdincome1990-2021HouseholdincomeincurrentU.S.dollars30,000010,00020,00040,00050,00060,000199019911992199319941995199619971998199920002001200236,24735,71436,35937,06440,50038,57439,49442,02342,34544,00546,75352,25349,85523Description:In2021,themedianhouseholdincomeinMassachusettsamountedto89,645U.S.dollars.Thisisaslightdecreasefromthepreviousyearwhenthemedianhouseholdincomewas86,725U.S.dollarsinMassachusetts.

ReadmoreNote(s):UnitedStates;1990to2021Source(s):USCensusBureauPercapitapersonalincomeinMassachusettsintheUnitedStatesfrom2000to2022(incurrentU.S.dollars)U.S.percapitapersonalincomeinMassachusetts2000-202290,00080,00070,00060,00050,00040,00030,00020,00010,0000'00'01'02'03'04'05'06'07'08'09'10'11'12'13'14'15'16'17'18'19'20'21'2224Description:In2022,thepercapitapersonalincomeinMassachusettswas84,561U.S.dollars.Percapitapersonalincomeiscalculatedasthepersonalincomeoftheresidentsofagivenareadividedbytheresidentpopulationofthearea.

ReadmoreNote(s):UnitedStates;2000to2022Source(s):BEA;USDepartmentofCommercePovertyrateinMassachusettsintheUnitedStatesfrom2000to2022U.S.Massachusettspovertyrate2000-202212.5%11.9%

11.9%12.0%11.5%11.0%10.5%10.0%9.5%11.6%11.6%11.5%11.4%10.5%10.4%10.4%

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202225/statistics/205475/poverty-rate-in-massachusettsIn2022,approximately10.4percentofMassachusetts'populationlivedbelowthepovertyline.Thisaccountsforpersonsorfamilieswhosecollectiveincomeintheproceeding12monthswasbelowthenationalpovertyleveloftheUnitedStates.

ReadmoreNote(s):UnitedStates;2000to2022Source(s):USCensusBureauCHAPTER

04StateGovernmentStateandlocalgovernmentrevenueandexpenditureinMassachusettsintheUnitedStatesfromfiscalyear2004to2021(inbillionU.S.dollars)U.S.MassachusettsstateandlocalgovernmentfundingFY2004-2021RevenuesExpenditures12511510595857565554520042005200620072008200920102011201220132014201520162017201820192020202127Description:Inthefiscalyearof2021,theexpenditureoftheMassachusettsstateandlocalgovernmenttotaledtoabout116.83billionU.S.dollars.Thisisincomparisonto101.96billionU.S.dollarsinrevenuesforthestate'sstateandlocalgovernments.

ReadmoreNote(s):UnitedStates;Fiscalyear2004to2021Source(s):USCensusBureauStateandlocalgovernmentdebtoutstandingintheUnitedStatesin2021,bystate(inbillionU.S.dollars)U.S.stateandlocalgovernmentoutstandingdebt2021,bystateDebtinbillionU.S.dollars3000100200400500600CaliforniaNewYorkTexas541.24383.55324.96Illinois165.46Florida135.83128.55PennsylvaniaMassachusettsNewJerseyOhio101.5599.4394.390.380.4769.7567.67WashingtonMichiganColoradoVirginia28Description:In2021,thefederalstateofCaliforniahadabout541.24billionU.S.dollarsofdebtoutstanding,themostoutofanystate.NewYork,Texas,Illinois,andFloridaroundedoutthetopfivestateswiththemostdebtoutstandingin2021.ReadmoreNote(s):UnitedStates;2021Source(s):USCensusBureauStateandlocalgovernmentdebtinMassachusettsfromfiscalyear1999to2021withaforecastto2027(inbillionU.S.dollars)StateandlocalgovernmentdebtinMassachusetts1999-2027StatedebtLocalgovernmentdebt14012010080604020029Description:Inthefiscalyearof2021,Massachusetts'sstatedebtstoodatabout76.52billionU.S.dollars.Localgovernmentdebtinthestatewassignificantlylowerinthesamefiscalyear,atabout18.78billionU.S.dollars.

ReadmoreNote(s):UnitedStates;fiscalyear1999to2021Source(s):USCensusBureauCHAPTER

05MetroAreasPopulationofthelargestmetropolitanareasintheUnitedStatesasof2022PopulationofmetropolitanareasintheU.S.2022Numberofresidents5,000,000

10,000,000015,000,00020,000,00025,000,000NewYork-Newark-JerseyCity,NY-NJ-PALosAngeles-LongBeach-Anaheim,CAChicago-Naperville-Elgin,IL-IN-WI19,617,86912,872,3229,441,9577,943,6857,340,1186,373,756Dallas-FortWorth-Arlington,TXHouston-TheWoodlands-SugarLand,TXWashington-Arlington-Alexandria,DC-VA-MD-WVPhiladelphia-Camden-Wilmington,PA-NJ-DE-MDAtlanta-SandySprings-Alpharetta,GAMiami-FortLauderdale-PompanoBeach,FLPhoenix-Mesa-Chandler,AZ6,241,1646,222,1066,139,3405,015,678Boston-Cambridge-Newton,MA-NHRiverside-SanBernardino-Ontario,CASanFrancisco-Oakland-Berkeley,CA4,900,5504,667,5584,579,59931Description:In2022,themetropolitanareaofNewYork-Newark-JerseyCityhadthebiggestpopulationintheUnitedStates.Basedonannualestimatesfromthecensus,themetropolitanareahadaround19.62millioninhabitants,whichwasaslightdecreaseonthepreviousyear.TheLosAngelesandChicagometroareasroundedoutthetopthree.ReadmoreNote(s):UnitedStates;2022Source(s):USCensusBureauMonthlyrankingofunemploymentratesintheUnitedStatesforlargermetropolitanareasinSeptember2023U.S.unemploymentratesforlargemetropolitanareas2023Unemploymentrate2%0%1%3%4%5%6%LasVegas-Henderson-Paradise,NVLosAngeles-LongBeach-Anaheim,CARiverside-SanBernardino-Ontario,CAChicago-Naperville-Elgin,IL-IN-WIHouston-TheWoodlands-SugarLand,TXNewYork-Newark-JerseyCity,NY-NJ-PASacramento--Roseville--Arden-Arcade,CASanAntonio-NewBraunfels,TXMemphis,TN-MS-AR5.7%5.3%5%4.7%4.4%4.4%4.3%4.3%4.1%4.1%Detroit-Warren-Dearborn,MIPhoenix-Mesa-Scottsdale,AZ4%SanDiego-Carlsbad,CA4%Dallas-FortWorth-Arlington,TX3.9%32Description:IntheSeptember2023rankingoftheunemploymentratesintheUnitedStates'largermetropolitanareas,theBaltimore-Columbia-Towson,Marylandmetroareahadthelowestrate,at1.8percent.Inthesameperiod,theunemploymentratewashighestintheLasVegas-Henderson-Paradise,Nevadametropolitanarea,andstoodat5.7.ReadmoreNote(s):UnitedStates;September2023Source(s):BureauofLaborStatisticsMedianhouseholdincomeofthe20metropolitanareaswiththelargestpopulationin2019(inU.S.dollars)RankingofthelargestU.S.metropolitanareasbymedianhouseholdincome2019MedianhouseholdincomeinU.S.dollars20,000

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60,000080,000100,000120,000140,000SanFrancisco-Oakland-Berkeley,CAWashington-Arlington-Alexandria,DC-VA-MD-WVBoston-Cambridge-Newton,MA-NHSeattle-Tacoma-Bellevue,WA114,696105,65994,43094,027Denver-Aurora-Lakewood,CO85,64183,98583,698SanDiego-ChulaVista-Carlsbad,CAMinneapolis-St.Paul-Bloomington,MN-WINewYork-Newark-JerseyCity,NY-NJ-PALosAngeles-LongBeach-Anaheim,CAChicago-Naperville-Elgin,IL-IN-WI83,16077,77475,37974,53372,26571,742Philadelphia-Camden-Wilmington,PA-NJ-DE-MDDallas-FortWorth-Arlington,TXAtlanta-SandySprings-Alpharetta,GA33Description:ThisstatisticshowsannualmedianhouseholdincomesintheUnitedStatesinthelargestmetropolitanareas(measuredbypopulation).In2019,theannualmedianhouseholdincomeinthemetropolitanareaofNewYork-Newark-JerseyCitywas83,160U.S.dollars.ReadmoreNote(s):UnitedStates;2019Source(s):USCensusBureauConsumerPriceIndex(CPI)ofallurbanconsumersforselectedcitiesandmetroareasintheU.S.in2022ConsumerPriceIndexforselectedU.S.cities2022