New North Year End Report

N E W N O R T H , I N C . 4 Since 2014, the available labor force in the New North has increased by almost 13,350 people (2%), while the percentage of the labor force that is unemployed has decreased by 13,977 (40%). Average growth in the available labor force is 4,450, with the largest increase occurring from 2015 to 2016 (7,580). 2017 has shown the lowest unemployment rate at approximately 3% with the previous 15 years averaging 6%. The working age population of racially diverse individuals in the New North region has seen tremendous growth since 2002 and is projected to continue until 2020. From 2002 to 2017, the population of individuals under the age of 65 increased from 88,170 to 150,851 (71%). The population of individuals less than 65 is expected to continue to increase to 164,796 by 2020, (9% growth from 2017). The population of racially diverse individuals in the New North region has increased from 139,148 in 2013 to over 159,000 in 2018 (14%). The New North has experienced an interesting trend in migration from domestic and international sources. In 2010, international population growth caused a net population increase of 465. From 2011 to 2016, domestic migration accounted for a loss of over 7,000 people, which was offset by international additions of approximately 5,450, resulting in a net population decrease of 1,878. In 2016-2017, the New North experienced a large influx of domestic migration, which led to a total net increase of 3,559 offsetting previous losses. International migration has remained relatively stable since 2010, averaging 1,059 individuals per year. Note: these values are based on calculated estimates by the U.S. Census Bureau "Components of Population Change" Report. New North Economy Overview Source: Wisconomy, EMSI Population Demographics Report, U.S. Census Bureau Comments provided by Matthew Christman, director of research and technology for New North, Inc. New North Racially Diverse Population Growth (2013-2018) New North Racially Diverse Working Age Growth (2002-2017) New North Available Labor Force (2014-2017) New North Population Migration Trends (2010-2017) 165,000 160,000 155,000 150,000 145,000 140,000 135,000 130,000 125,000 2013 2014 2015 New North Racially Diverse Population Population 2016 2017 2018 4,000 3,000 2,000 1,000 0 -1,000 -2,000 -3,000 2010-2011 New North International Migration New North Domestic Migration New North Net Migration 2011-2012 2012-2013 2013-2014 New North Population – Migration 2014-2015 2015-2016 2016-2017 80,000 70,000 60,000 50,000 40,000 20,000 30,000 10,000 0 Less than 20 New North Population – Racial Diversity Age Cohorts Millenials (20-34) 35-65 Retirement (65+) 2002 Population 2007 Population 2012 Population 2017 Population 2022 Population 690,000 680,000 670,000 660,000 650,000 640,000 620,000 630,000 610,000 600,000 2014 New North Employment 2015 2016 2017 New North Employment New North Unemployment 633,333 35,252 29,364 640,016 651,237 660,659 21,275 25,723

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