Blue Economy Job Postings 5-Year Trend

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<h2>Introduction</h2>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Cape Cod is a peninsula off the coast of Massachusetts, separated from the mainland by canal. The landmass is home to Barnstable County which is comprised of 15 towns. For the purposes of this dashboard, &ldquo;Cape Cod&rdquo; and &ldquo;Barnstable County&rdquo; are interchangeable.</span></span></p>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">The region is also divided among locals into four sub-regions. Two sub-regions find their name from Cape Cod&rsquo;s arm shape. The Upper Cape region correlates to one&rsquo;s upper arm and the Lower Cape correlates to one&rsquo;s lower arm. The Mid Cape region is between the Upper and Lower Cape regions. The Outer Cape region gets its name from being the outermost stretch of shoreline, abutting the Atlantic Ocean. It is common for locals to hold up their arm as if posing for a bodybuilding competition and point to where they are from when asked by visitors.&nbsp;</span></span></p>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">With 559 miles of coastline and 890 freshwater lakes and ponds, the natural beauty of Cape Cod draws millions of visitors annually, typically in the summer months. Over time the visiting season on Cape Cod has extended by local and regional marketing initiatives. However, the region is still predominantly perceived as a place to visit during the months of June, July, and August. This seasonal influx is evidenced by the increase in automotive traffic across the bridges spanning the Cape Cod Canal. Some businesses close for months at a time during the year, such as ice cream shops and whale watching tours.&nbsp;</span></span></p>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Due to its popularity, Cape Cod is also a natural choice for second homes. It is estimated between 37-40% of single-family units on Cape Cod are not the primary residence for their owners, but rather seasonal or second homes. These &ldquo;second homes&rdquo; see an array of uses from long- and short-term rentals to weekend havens.&nbsp;</span></span></p>
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<h2>Population Insights</h2>
<p><span style="color: #808080; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">As Barnstable County&rsquo;s population grows, the population slowly becomes more diverse. However, the county remains predominantly White, Non-Hispanic. Organizations such as <a href="https://amplifypoccapecod.com/" target="_blank" rel="noopener">Amplify POC Cape Cod</a> and <a href="https://eforall.org/ma/cape-cod/" target="_blank" rel="noopener">EforAll Cape Cod</a> encourage and support diversity in business ownership.</span></span></p>
<p><span style="color: #808080; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">The region&rsquo;s natural beauty is attractive to retired individuals seeking open spaces, serenity, and outdoor recreation. Barnstable County&rsquo;s average age is far above the national average. Of the year-round population, 32% are 65 years or older, which is nearly double the national average of 17%. The top six age demographics displayed here span the ages 50 to 79 years old. These six age demographics make up 49% of Barnstable County&rsquo;s population. This population mix is due in part to Cape Cod&rsquo;s attraction as an inviting place to retire and to the demographics of the population with wealth enough to afford housing here. The strength and size of Barnstable County&rsquo;s healthcare industry is a result of the population&rsquo;s above average median age.</span></span></p>
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Population by Race and Change Over Time

[US] SOC

LOT V6 Career Area [2]

LOT V6 Occupation Group [4]

LOT V6 Occupation [6]

LOT V6 Specialized Occupation [8]

[CA] NOC

[CA] Title

[UK] SOC

[Intl] ISCO

[Intl] ANZSCO

[Intl] Occupation

Title

<h2>Industry Mix</h2>
<p><span style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">For the last 100 years, Cape Cod has been known as a global vacation destination. The peninsula&rsquo;s 550 miles of natural, sandy coastline draws millions of visitors each year. Industries directly tied to tourism are prominent here in comparison to national industry averages such as retail trade; accommodation and food services; real estate and rental and leasing; and arts, entertainment, and recreation. Although the region may appear over saturated by retail trade when compared to year-round demographics, the swell of summer visitors and returning part-time residents are responsible for upholding such industries.&nbsp;</span></p>
<p><span style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;"><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px;">Cape Cod is also a popular place for second home ownership and retired individuals for the same reasons vacationers are attracted to the region: natural beauty and open spaces for outdoor recreation. Of the year-round population, 32% are 65 years or older, which is nearly double the national average of 17%. Due to the region&rsquo;s popularity among older individuals, heath care and social assistance is among one of the top employers by industry in the region. This unique population also accounts for industries that appear here under industry concentration such as educational services.</span></span></span></p>

Industry Characteristics

<h2>Labor Market</h2>
<p><span style="color: #808080; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Few occupations grew in number of jobs offered in Barnstable County. Among the occupations that saw growth since 2017 is the Farming, Fishing, and Forestry sector. As displayed in the Blue Economy Industry graph, shell fishing and fin fishing account for the majority of that occupation sector. Economic growth reliant on the water that surrounds Cape Cod could see even more growth with support from organizations like the <a href="https://www.bluecapecod.org/" target="_blank" rel="noopener">Cape Cod Blue Economy Foundation</a> and the <a href="https://capecodfishermen.org/" target="_blank" rel="noopener">Cape Cod Commercial Fishermen&rsquo;s Alliance</a>.&nbsp;</span></span></p>
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Occupation Concentration

Population by Age Cohort

<h2>Housing Market</h2>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">Property along the water holds greater value globally. In addition to desirability, Cape Cod&rsquo;s overall land value has increased due to geographic limitations. Simply put, there are very few plots of land available to build new housing.&nbsp;</p>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">In response to the recent global health crisis, affluent second homeowners who could work remotely sought shelter among the rural areas of Cape Cod. This trend to make second homes into primary residencies impacted the region&rsquo;s real estate rental industry and, therefore, displaced seasonal and immigrant workers. While workers are no longer able to rent properties, employers are seeking residential options to directly support workers. The chain reaction leads us to a historically low property inventory, further driving median home values above the state&rsquo;s values.</p>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">Increased home values also mean many working age individuals and families are priced out of the market and forced to either commute long distances to work on Cape Cod or to leave altogether.&nbsp;</p>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;"><a href="https://housingtoprotectcapecod.org/" target="_blank" rel="noopener">Housing to Protect Cape Cod</a> and the <a href="https://housingtoprotectcapecod.org/reports/" target="_blank" rel="noopener">Concord Report</a> detail the overall housing trends hindering Cape Cod&rsquo;s labor force today.</p>

Barnstable County vs. Massachusetts Average

Median Home Value Trend

<h2>Migration Trends&nbsp;</h2>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Cape Cod is a place people want to live. During the early stages of the 2020 pandemic restrictions, Barnstable County saw an increase in residents whereas Massachusetts saw an overall decrease in population. The open spaces and fresh air were more appealing than ever.&nbsp;</span></span></p>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Migration continues to trend towards a growing population as more people move to the area. Most newcomers to Barnstable County are likely familiar with the area before moving, since most new residents come from nearby counties and neighboring states.&nbsp;</span></span></p>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Although Cape Cod is considered a great place to retire, it is common for older Cape Cod residents to relocate to warmer areas such as Florida.&nbsp;</span></span></p>
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For period covering 2022

Migration by County

<h2>Wage Trends</h2>
<p><span style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">For the most part, wage ranges in Barnstable County are below the same ranges by occupation compared to Boston. Some occupations such as Food Preparation and Serving Related have higher annual wages than Boston. Farming, Fishing, and Forestry wages are also higher in Barnstable County than in Boston. These differences are in keeping with the tourism and blue economies in the county.</span></p>

Barnstable, MA

Barnstable County, MA

Annual Wage Ranges by Occupation (25th-75th Percentile)

<h2>Job Posting Trends</h2>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">The impacts of the recent global pandemic are marked by the lowest jobs postings in April 2020. Since then, job posting trends in Barnstable Country show a more dynamic seasonal pattern than prior to April 2020. Although the region&rsquo;s year-round population has grown and more businesses remain open throughout the year, these job postings highlight the region&rsquo;s seasonal economy.</span></span></p>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Health Care and Social Assistance; Retail Trade; and Educational Services are among the most in-demand industry sectors. Health Care needs are consistent given the region&rsquo;s aging population. Retail Trade will see rises in demand leading into summertime. Education Services job postings speak to the region&rsquo;s overall need for certified instructors, teachers, and trainers to build a future workforce as Barnstable County welcomes emerging industries such as offshore wind farming and electrification of mass public transportation.&nbsp;&nbsp;</span></span></p>
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Job Postings 5-Year Trend

Job Postings by Industry

<h2>Educational Attainment</h2>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Overall, Massachusetts is a highly educated state. A higher percentage of the state&rsquo;s population hold bachelor&rsquo;s degrees or beyond compared to the United States. Barnstable County&rsquo;s population displays similar levels of education attainment as Massachusetts overall.&nbsp;</span></span></p>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Although the population of Barnstable County is highly educated, more than half of the available jobs within the county today do not list specific education requirements in their descriptions or postings. A <a href="https://www.hbs.edu/managing-the-future-of-work/Documents/research/emerging_degree_reset_020922.pdf" target="_blank" rel="noopener">2022 study and analysis by The Burning Glass Institute</a> explores this trend of decreased value placed on educational attainment by employers as a natural reaction to labor and workforce shortages.</span></span></p>
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Population by Educational Attainment

Job Postings by Educational Attainment

<h2>Bridge Crossings</h2>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">Most of Cape Cod is separated from mainland Massachusetts by the widest sea level canal in the world. The Cape Cod Canal cuts 135 miles off a journey by sea, is occasionally closed to allow safe passage of North Atlantic Right Whales, and is spanned by two iconic automotive bridges&mdash;the Sagamore and Bourne bridges&mdash;and one railroad bridge which lowers and raises for safe train and boat traffic respectively.</p>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">Automobile traffic is tracked year-round and is one of the clearest indicators of the region&rsquo;s seasonal popularity. At the peak of the summer season in 2022, the Sagamore bridge saw 84,544 individual vehicle crossings in a day in comparison to the lowest of 20,888 daily crossings in January. Bourne bridge traffic follows the same pattern throughout the year.</p>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">Both the Sagamore and Bourne bridges are 90 years old and require continuous maintenance to assure safe passage. To best accommodate the growing number of workers commuting daily over the canal and drastically increased summer use of the canal bridges, regional leaders are engaged in conversations and planning for new bridge construction.</p>

Bourne and Sagamore Bridge

Daily Bridge Crossings

<h2>Cost of Living</h2>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Barnstable County sits level with Boston and Plymouth County on costs of living in most categories. The cost of Healthcare on Cape Cod is slightly higher than in Boston. This is attributed to the lack of medical specialists in Barnstable County. Cape Cod residents often seek treatment from world-class medical professionals located in or near Boston.&nbsp;</span></span></p>
<p><span style="color: #7e8c8d; font-family: open sans, helvetica, sans-serif;"><span style="font-size: 18.6667px; line-height: 1.8;">Homeownership costs more in Boston&rsquo;s metropolitan landscape. Compared to other counties in Massachusetts with less housing density like Plymouth and Berkshire Counties, Cape Cod&rsquo;s median home value is notably higher.&nbsp;</span></span></p>
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Index value of 100 = U.S. average

Cost of Living Comparison

<h2>Regional Blue Economy</h2>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">The history of Cape Cod&rsquo;s economy relates directly to the surrounding bodies of water (the Blue in Blue Economy) and the marine life therein. The peninsula got its current name in 1602 from Bartholomew Gosnold, an English explorer who was awed by the abundance of codfish in the surrounding waters. In the early to mid-1800&rsquo;s the peninsula was a hub of the whaling industry. Today, marine research and preservation organizations based in the region are globally recognized for their contributions to science and technology. Further highlighting the region&rsquo;s dependency on surrounding waterways, Cape Cod&rsquo;s most utilized mass-transit are ferries.</p>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">To support and draw attention to our region&rsquo;s strong relationship with water, the Cape Cod Chamber of Commerce established the <a href="https://www.bluecapecod.org/" target="_new">Cape Cod Blue Economy Foundation</a> in 2017. The mission of the Cape Cod Blue Economy Foundation is to grow the region&rsquo;s economy in a sustainable and balanced way, focusing on protecting and promoting our water and coastal resources.&nbsp;</p>
<p style="color: #7e8c8d; font-family: 'open sans', helvetica, sans-serif; line-height: 1.8; font-size: 14pt;">Further refinement and development of this graphic information is underway.&nbsp;</p>

Finfish Fishing|Shellfish Fishing|Animal Production and Aquaculture|Fish and Seafood Merchant Wholesalers|Hydroelectric Power Generation|Textile and Fabric Finishing Mills|Seafood Product Preparation and Packaging|Ship Building and Repairing|Boat Dealers|Boat Building|Coastal and Great Lakes Freight Transportation|Coastal and Great Lakes Passenger Transportation|Port and Harbor Operations|Marine Cargo Handling|Other Marine Fishing|Geophysical Surveying and Mapping Services|Marinas|Environment, Conservation and Wildlife Organizations

Blue Economy Industry Characteristics

NAICS 722

Hires and Separations in the  Food Service Industry

<p style="text-align: center;"><strong><span style="font-family: 'open sans', helvetica, sans-serif; font-size: 14pt;">Check out Zillow Listings <a href="https://www.zillow.com/barnstable-county-ma/" target="_blank" rel="noopener">Here</a>!</span></strong></p>