"For the next 25 years (2015 to 2040), the population projections call for the Lakes Region to grow very slowly in contrast to the past. The projections call for an increase to 123,940 persons in 2040 for a total increase of 10,968 or 9.7 percent over the 25-year period. That represents an
annual average increase of about 0.4 percent per year."
|The population has shifted from younger people in the 20 to 44 age groups to older |
people in the 45 to 69 age groups in 2010. The source of information is the American Community Survey and the 1990 and 2010 U.S. Census.
This shift in population does not match the housing inventory: "New Hampshire’s current housing supply is poorly aligned with evolving preferences among different age groups. This mismatch exists both for aging Baby Boomers and younger workers. Older residents are likely to seek to “down-size” to smaller living arrangements, yet housing units of 3+ bedrooms far outnumber one- and two-bedroom units in the state."
Some other interesting facts:
- In 2012 Manufacturing accounted for 13.3 percent of total private employment in the region and accounted for 17.8 percent of wages earned in private industries.
- The two main sectors in the goods-producing domain are Manufacturing and Construction. Between 2005 and 2012, employment in both of these sectors has dropped by more than a quarter f their original base
- In 2012, one in five jobs in the Lakes Region was in Retail trade and close to one in five jobs was in Leisure and hospitality
- Lack of employment opportunities during the winter months can create hardship for some residents.
- Lack of affordable housing- According to Occupational Employment Statistics May 2012 survey, the average wage for Retail salespersons and Waiters and waitresses in the Lakes Region were $11.88 and $11.15, respectively. In comparison, the average for All Occupation in the region was $19.36.
- An increase in tourism spending translates into more employment opportunities in Accommodation and food services, Retail trade, Administrative and waste management services (such as janitorial and landscaping services) and other services (such as boat repair and maintenance).
- 56 percent of the working residents commuted outside the LRPC area for work in 2011. - Conversely, a large portion of the region’s workers live outside the region. In 2011, about four out of ten job holders working in the Lakes Region commuted in from outside the region.
- If there are no reasonable employment opportunities within a one-hour commute, families with children may not want to relocate to the region and young adults living in the region are more likely to migrate to other areas for better job opportunities.
Despite all these changes, there is reason to be positive: " The aspects of life in the Lakes Region that attracts visitors and year-round residents remain – an attractive lifestyle, lakes, mountains, good internet service, proximity to urban centers. Regional development corporations are encouraging your entrepreneurs to move here and are developing training programs in advanced manufacturing."
Regionally and locally, we have been somewhat slow to respond to what we have known for quite awhile. What is important now, is how we respond to the ongoing changes and how we plan to address them.