CAPE COD BUSINESS CONNECT: ECONOMIC OUTLOOK

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CAPE COD BUSINESS CONNECTECONOMIC OUTLOOK

• by
• Dr. Clyde Barrow, Director
• Center for Policy Analysis
• University of Massachusetts Dartmouth

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-132,100 jobs from 3-01 to 3-06 for a -4.0 job
growth
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Total employment growth on the Cape has outpaced
the state as a whole
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The Cape has closed its unemployment gap with
the rest of the state.
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The Cape has closed its unemployment gap with
the rest of the state and reduced the seasonal
volatility of its labor market.
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STRUCTURE OF CAPE COD SEASONAL WORKFORCE (2000)
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New business starts on the Cape have outpaced the
states rate of new business formation
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Hospitality will grow in absolute terms, but
proportionately the year round economy will be
led by Education and Health Services,
Professional and Technical Services,
Construction, Financial Services.
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ARTS CRAFTS CRITICAL EMERGING

• DIRECT EMPLOYMENT
• 3 OF CAPE ISLANDS TOTAL EMPLOYMENT
• TOTAL EMPLOYMENT IMPACT
• 5.2 OF CAPE ISLANDS TOTAL EMPLOYMENT
• MULTIPLIER EFFECT
• 1.76 Employment Multiplier
• 1.65 Payroll Multiplier

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MARINE SCIENCE TECHNOLOGY CRITICAL EMERGING

• DIRECT EMPLOYMENT
• 1 OF CAPES TOTAL EMPLOYMENT
• TOTAL EMPLOYMENT IMPACT
• 2.8 OF CAPES TOTAL EMPLOYMENT
• MULTIPLIER EFFECT
• 2.85 Employment Multiplier
• 2.16 Payroll Multiplier

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CHALLENGE FUTURE WORKFORCE
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CHALLENGE HOUSING
PRICES
The average home price on the Cape has increased
by 88.0 since 1998, compared to 59.7 for the
state.