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Massachusetts is one of the most developed states in the United States. It is located in the northeastern part of the United States and borders on the Atlantic Ocean to the east. In 2018, Massachusetts had a population of 6.9M people with a median age of 39.5 and a median household income of $79,835. According to the the United States Bureau of Economic Analysis, the Real Gross Domestic Product of Massachusetts in 2018 was $506 billion.
In 2018, additionally, overall educational system in Massachusetts was ranked the top among all fifty U.S. states by U.S. News & World Report. Massachusetts is home to 121 institutions of higher education. Harvard University and Massachusetts Institute of Technology consistently rank among the world's best private universities and universities in general. In the past 5 years, thanks to the higher education talents, Massachusetts developed at top speed in its economy and education.
Employment Situation from 2014 to 2018
Employment Situation from 2014 to 2018
From 2014 to 2018, employment in Massachusetts grew from 3.25M employees to 3.43M employees, with the yearly growth rate of 1.1%.
The most common job groups in 2018, by number of people living in Massachusetts, are Management, business, science, & arts occupations (1,644,745), Sales & Office Occupations (680,545), and Service Occupations (582,390). The chart Employment by Occupations from 2014 to 2018 illustrates the primary jobs held by residents of Massachusetts.
The highest paid jobs held by residents of Massachusetts, by average salary, are Dentists ($251,882), Physicians ($221,671), and Aircraft pilots & flight engineers ($219,870).
In 2018, the most common industry sectors for those who live in Massachusetts, are Educational Services, Health Care & Social Assistance (1,001,883), Professional, Scientific & Management, and Administrative & Waste Management Services (472,744), and Retail Trade (356,160). The chart Employment by Industries from 2014 to 2018 shows the primary industries for residents of Massachusetts, though some of these residents may live in Massachusetts and work somewhere else.
Compared to other places, Boston, MA has an unusually high number of Professional, Scientific, & Technical Services, Finance & Insurance, and Educational Services industries.
The chart Wage by Gender in Common Jobs from 2014 to 2018 shows the gender-based wage disparity in the 4 most common occupations, which are cashiers, elementary & middle school teachers, registered nurses, and retail salespersons, in Massachusetts by number of full-time employees. Although there were some fluctuations of wage disparity between males and females, especially in the elementary & middle school teachers occupation, it is obvious that full-time male employees in Massachusetts had higher income than female employees from 2014 to 2018.
The chart Wage by Race in Common Jobs from 2014 to 2018 shows the race- and ethnicity-based wage disparities in the same 4 aforementioned most common occupations in Massachusetts by number of full-time employees. According to the chart, the highest paid race/ethnicity of Massachusetts workers was Asian. In 2018, Asian workers were paid 1.14 times more than White workers, who made the second highest salary of any race/ethnicity.
The chart Wage Distribution from 2014 to 2018 shows the number of workers in Massachusetts across various wage buckets.
The following maps show all of the counties in Massachusetts colored by their Median Household Income (Total) from 2014 to 2018.
In 2018, the county with the highest Median Household Income (Total) in Massachusetts was Middlesex County with a value of $100,517, followed by Norfolk County and Plymouth County, with respective values of $100,356 and $90,484.
From 2014 to 2018, counties with relatively higher growth rate of Median Household Income (Total) are Plymouth County, from $74,936 to $90,484, and Hampshire County, from $56,079 to $76,966.
Education Situation from 2013 to 2017
Education Situation from 2013 to 2017
In 2017, universities in Massachusetts awarded 142,519 degrees. Most students graduating from Universities in Massachusetts are White (77,871), followed by Hispanic or Latino (12,148), Asian (10,414), and Black or African American (10,004). Particularly, universities in Boston awarded 42,430 degrees. The median tuition costs in Massachusetts are $36,954 for private four year colleges, and $1,372 and $13,463 respectively, for public four year colleges for in-state students and out-of-state students.
In 2017, the largest universities in Massachusetts by number of degrees awarded are Boston University (10,645), Harvard University (8,797), and University of Massachusetts-Amherst (8,788). The 3 most popular university sectors are Private not-for-profit, 4-year or above, Public, 4-year or above, and Public, 2-year. In Boston, Boston University (10,645) and Northeastern University (6,652) awarded the most number of degrees, which was 17,297 in total.
From 2013 to 2017, the most common concentation for Bachelors Degree recipients in Massachusetts was Business, followed by Social Science and Health.
People in Massachusetts who received a Research Doctors Degree preferred to focus on Engineering, Biology, Physical Sciences, and Health.
From 2013 to 2017, the most popular majors for Masters Degree in Massachusetts were Business, Education and Health. In Boston, the most common concentration was still Business.
Professional Doctors Degree pursuers concentrated on Health or Legal topics from 2013 to 2017. Their target was to be a destist, physician, surgeon or lawer.
Conclusion
Conclusion
According to the employment situation from 2014 to 2018 and the education situation from 2013 to 2017, it is reasonable to conclude that these two important sections reinforce each other significantly. Industries in Massachusetts mainly focus on Educational Services, Health Care & Social Assistance, and Business Issues. Thus, large amount of job requirements attracted students to step into Education, Health or Business domain with the help of extremely developed educational environment. In return, higher education talents will contribute to building a more competitive community by exploring new areas and leading the trend. Finally, there generates a virtuous cycle in Massachusetts.
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