Economic Profile

The Town of Bedford is a prosperous suburban community with a substantial local economy based in high paying jobs in engineering, electronics, and information technology. Its workforce is growing slowly, and is increasingly well educated.  Three of four working residents commute to jobs elsewhere in the region.

Despite having a population of only 12,600 in 2000, the Town is home to over 20,000 jobs and has the highest ratio of jobs to resident workers in the region. The dominant manufacturing job base declined dramatically from the mid-1980s to mid-1990s, despite some recovery, total jobs remain 10-20% below late-80s levels. At the same time, the number of employers has increased by half, and the real inflation-adjusted average wage has climbed by 30% following sharp increases in the late 1990s.

 

EMPLOYMENT STATUS
Population 16 years and over 10,096 +/-239 10,096 (X)
In labor force 6,398 +/-364 63.4% +/-3.3
Civilian labor force 6,334 +/-372 62.7% +/-3.3
Employed 6,084 +/-363 60.3% +/-3.4
Unemployed 250 +/-115 2.5% +/-1.1
Armed Forces 64 +/-40 0.6% +/-0.4
Not in labor force 3,698 +/-341 36.6% +/-3.3
Civilian labor force 6,334 +/-372 6,334 (X)
Percent Unemployed 3.9% +/-1.8 (X) (X)
Females 16 years and over 5,111 +/-257 5,111 (X)
In labor force 2,879 +/-285 56.3% +/-4.2
Civilian labor force 2,879 +/-285 56.3% +/-4.2
Employed 2,812 +/-282 55.0% +/-4.1
Own children under 6 years 1,052 +/-292 1,052 (X)
All parents in family in labor force 482 +/-126 45.8% +/-14.1
Own children 6 to 17 years 2,215 +/-282 2,215 (X)
All parents in family in labor force 1,376 +/-340 62.1% +/-12.6
COMMUTING TO WORK
Workers 16 years and over 5,937 +/-364 5,937 (X)
Car, truck, or van — drove alone 4,907 +/-402 82.7% +/-4.4
Car, truck, or van — carpooled 263 +/-146 4.4% +/-2.5
Public transportation (excluding taxicab) 203 +/-98 3.4% +/-1.6
Walked 143 +/-100 2.4% +/-1.7
Other means 35 +/-35 0.6% +/-0.6
Worked at home 386 +/-130 6.5% +/-2.1
Mean travel time to work (minutes) 28.2 +/-2.5 (X) (X)
OCCUPATION
Civilian employed population 16 years and over 6,084 +/-363 6,084 (X)
Management, professional, and related occupations 3,880 +/-404 63.8% +/-4.7
Service occupations 544 +/-179 8.9% +/-2.9
Sales and office occupations 946 +/-210 15.5% +/-3.5
Farming, fishing, and forestry occupations 15 +/-25 0.2% +/-0.4
Construction, extraction, maintenance, and repair occupations 395 +/-138 6.5% +/-2.4
Production, transportation, and material moving occupations 304 +/-114 5.0% +/-1.8
INDUSTRY
Civilian employed population 16 years and over 6,084 +/-363 6,084 (X)
Agriculture, forestry, fishing and hunting, and mining 0 +/-127 0.0% +/-0.6
Construction 312 +/-133 5.1% +/-2.3
Manufacturing 704 +/-166 11.6% +/-2.8
Wholesale trade 142 +/-80 2.3% +/-1.3
Retail trade 550 +/-177 9.0% +/-2.9
Transportation and warehousing, and utilities 104 +/-65 1.7% +/-1.0
Information 219 +/-92 3.6% +/-1.6
Finance and insurance, and real estate and rental and leasing 535 +/-153 8.8% +/-2.5
Professional, scientific, and management, and administrative and waste management services 1,395 +/-234 22.9% +/-3.3
Educational services, and health care and social assistance 1,330 +/-229 21.9% +/-3.3
Arts, entertainment, and recreation, and accommodation and food services 313 +/-147 5.1% +/-2.4
Other services, except public administration 288 +/-124 4.7% +/-2.0
Public administration 192 +/-91 3.2% +/-1.5
CLASS OF WORKER
Civilian employed population 16 years and over 6,084 +/-363 6,084 (X)
Private wage and salary workers 4,751 +/-361 78.1% +/-3.8
Government workers 682 +/-165 11.2% +/-2.6
Self-employed in own not incorporated business workers 651 +/-167 10.7% +/-2.7
Unpaid family workers 0 +/-127 0.0% +/-0.6
INCOME AND BENEFITS (IN 2009 INFLATION-ADJUSTED DOLLARS)
Total households 4,731 +/-195 4,731 (X)
Less than $10,000 82 +/-59 1.7% +/-1.3
$10,000 to $14,999 110 +/-88 2.3% +/-1.9
$15,000 to $24,999 188 +/-94 4.0% +/-2.0
$25,000 to $34,999 260 +/-108 5.5% +/-2.2
$35,000 to $49,999 414 +/-126 8.8% +/-2.7
$50,000 to $74,999 612 +/-161 12.9% +/-3.3
$75,000 to $99,999 655 +/-159 13.8% +/-3.3
$100,000 to $149,999 882 +/-181 18.6% +/-3.8
$150,000 to $199,999 798 +/-173 16.9% +/-3.6
$200,000 or more 730 +/-174 15.4% +/-3.6
Median household income (dollars) 102,367 +/-9,967 (X) (X)
Mean household income (dollars) 122,920 +/-8,240 (X) (X)
With earnings 3,899 +/-203 82.4% +/-2.9
Mean earnings (dollars) 123,678 +/-8,931 (X) (X)
With Social Security 1,288 +/-158 27.2% +/-3.0
Mean Social Security income (dollars) 20,173 +/-1,530 (X) (X)
With retirement income 952 +/-165 20.1% +/-3.5
Mean retirement income (dollars) 30,131 +/-5,150 (X) (X)
With Supplemental Security Income 37 +/-37 0.8% +/-0.8
Mean Supplemental Security Income (dollars) 9,827 +/-4,640 (X) (X)
With cash public assistance income 54 +/-49 1.1% +/-1.0
Mean cash public assistance income (dollars) 6,865 +/-4,122 (X) (X)
With Food Stamp/SNAP benefits in the past 12 months 35 +/-31 0.7% +/-0.6
Families 3,671 +/-182 3,671 (X)
Less than $10,000 38 +/-47 1.0% +/-1.3
$10,000 to $14,999 48 +/-43 1.3% +/-1.2
$15,000 to $24,999 75 +/-56 2.0% +/-1.5
$25,000 to $34,999 168 +/-82 4.6% +/-2.2
$35,000 to $49,999 222 +/-105 6.0% +/-2.8
$50,000 to $74,999 421 +/-143 11.5% +/-3.9
$75,000 to $99,999 488 +/-143 13.3% +/-3.7
$100,000 to $149,999 785 +/-158 21.4% +/-4.2
$150,000 to $199,999 748 +/-171 20.4% +/-4.6
$200,000 or more 678 +/-171 18.5% +/-4.7
Median family income (dollars) 117,043 +/-15,770 (X) (X)
Mean family income (dollars) 138,134 +/-10,457 (X) (X)
Per capita income (dollars) 45,169 +/-3,378 (X) (X)
Nonfamily households 1,060 +/-221 1,060 (X)
Median nonfamily income (dollars) 53,214 +/-14,762 (X) (X)
Mean nonfamily income (dollars) 64,216 +/-11,327 (X) (X)
Median earnings for workers (dollars) 53,220 +/-5,162 (X) (X)
Median earnings for male full-time, year-round workers (dollars) 96,118 +/-11,404 (X) (X)
Median earnings for female full-time, year-round workers (dollars) 61,628 +/-4,016 (X) (X)
HEALTH INSURANCE COVERAGE
Civilian Noninstitutionalized Population (X) (X) (X) (X)
With health insurance coverage (X) (X) (X) (X)
With private health insurance coverage (X) (X) (X) (X)
With public health coverage (X) (X) (X) (X)
No health insurance coverage (X) (X) (X) (X)
Civilian Noninstitutionalized Population Under 18 years (X) (X) (X) (X)
No health insurance coverage (X) (X) (X) (X)
PERCENTAGE OF FAMILIES AND PEOPLE WHOSE INCOME IN THE PAST 12 MONTHS IS BELOW THE POVERTY LEVEL
All families 3.0% +/-2.0 (X) (X)
With related children under 18 years 2.4% +/-2.8 (X) (X)
With related children under 5 years only 0.0% +/-9.0 (X) (X)
Married couple families 2.6% +/-1.9 (X) (X)
With related children under 18 years 1.1% +/-1.8 (X) (X)
With related children under 5 years only 0.0% +/-9.0 (X) (X)
Families with female householder, no husband present 7.6% +/-11.9 (X) (X)
With related children under 18 years 15.5% +/-24.8 (X) (X)
With related children under 5 years only ** (X) (X)
All people 4.1% +/-2.5 (X) (X)
Under 18 years 2.7% +/-3.6 (X) (X)
Related children under 18 years 2.7% +/-3.6 (X) (X)
Related children under 5 years 2.5% +/-4.2 (X) (X)
Related children 5 to 17 years 2.7% +/-3.4 (X) (X)
18 years and over 4.6% +/-2.9 (X) (X)
18 to 64 years 4.3% +/-3.1 (X) (X)
65 years and over 5.5% +/-4.9 (X) (X)
People in families 2.5% +/-1.8 (X) (X)
Unrelated individuals 15 years and over 16.1% +/-12.9 (X) (X)
Selected Economic Characteristics Estimate Margin of Error Percent Margin of Error
Source: U.S. Census Bureau, 2005-2009 American Community Survey