Introduction
Williamson County is situated to the north of Austin. The county seat is Georgetown. In 2022, the population of Williamson County was 48,097.
Demographic Profile
The population of Williamson County has increased by around 29,00 in the past ten years, more than doubling over the decade. Every year in the past ten has seen population growth well above the national average. In 2021, the county experienced the greatest growth year of the decade (4.7%). Not only does Williamson County have positive natural growth (more births than deaths), but it has also seen high levels of domestic migration, which has driven most of the growth of the past decade.
Figure 1: Population Growth, 2012-2022, Williamson County
Source: American Community Survey, 2022, 5-Year Estimate Williamson County
Figure 2: Population Change Components, 2012-2022, Williamson County
Source: American Community Survey, 2022, 5-Year Estimate Williamson County
Employment Trends
The unemployment rate in Williamson County in 2022 was 4.4%. This is lower than the state and national unemployment rate (5.2% and 5.3%, respectively). The rate of non-participation in the labor force is also much lower; 29.3% of the adult population in Williamson County is not in the labor force. In the US, 36.5% of adults are not in the labor force, and 34.9% in Texas.
Table 1: Employment Status of Williamson County
|
Subject |
Estimate |
Percent |
|
Population 16 years and over |
482,339 |
--- |
|
In labor force |
341,012 |
70.7% |
|
Civilian Labor Force |
339,813 |
70.5% |
|
Employed |
325,008 |
67.4% |
|
Unemployed |
14,805 |
3.1% |
|
Not in labor force |
141,327 |
29.3% |
|
Unemployment rate |
--- |
4.4% |
Source: American Community Survey, 2022, 5-Year Estimate Williamson County
Educational Attainment
In Williamson County, 94.1% of the population (over 25 years-old) holds at least a high school degree. This is higher than state and national averages (88.4% and 89.1%, respectively). Also, 46.3% of the population has a bachelor’s degree or higher. Once again, this is higher than state and national averages (33.4% and 34.3%, respectively).
Figure 3: Educational Attainment in Williamson County
Source: American Community Survey, 2022, 5-Year Estimate Williamson County
Wage Trends
Median Household Income (MHI) growth trends in Williamson County have been turbulent. However, MHI in Williamson County has only declined in two years out of the past decade, 2017 and 2020.
Figure 4: Median Household Income Growth, 2012-2022, Williamson County vs. US
Source: Census Small Area Income and Poverty Estimates (SAIPE)
Interestingly, there was per capita income growth shows a more stable upward trend, with no years in the past decade experiencing per capita income decline.
Per capita income trends in Williamson County are more in line with national trends. Only 2016 saw a decline in per capita income.
Figure 5: Per Capita Income Growth, 2012-2022, Williamson County vs. US
Source: BEA Regional Economic Accounts
Industry and Occupation Snapshots
Hospitality, Back Office, and Personal Services rank the highest in Williamson County’s occupation clusters. Overall, employment in Williamson County is weighted more heavily towards services occupations.
Figure 6: Occupation Cluster Employment, 2022, Williamson County
Source: Headlight Data cluster calculations using data from DTG
Gross Regional Product
With the notable exception of 2015 (30.5%, driven by growth in Utilities), Williamson County’s growth in Gross Regional Product (GRP) has not been subject to major fluctuations. Every year in the past decade has seen some growth in GRP. Additionally, 2018 onward shows a promising upward trend in percentage point growth for GRP.
Figure 7: Growth in Gross Regional Product, 2012-2022, Williamson County vs. US
Source: BEA Regional Economic Accounts
In Williamson County, the industry that generates the most GRP is Real estate and rental and leasing, followed by Manufacturing, and Wholesale trade.
Figure 8: Gross Regional Product by Industry ($1Ms), Williamson County
Source: BEA Regional Economic Accounts
One way to visualize this is by thinking of the GRP for Williamson County as a $100 bill. Of that $100, Real estate-related revenue contributed $17, Manufacturing $14, and Wholesale Trade $13. The other $56 was brought in by all other industries.
Figure 9: Gross Regional Product Visualization, Williamson County
Source: BEA Regional Economic Accounts