Boston Key Highlights

Population

The metropolitan area of Boston has a population of approximately 4.8 million, the City of Boston has a population of 692,000 (US Census, July 2019).

The City’s population has increased by 75,000 since 2012 (US Census, July 2019).

Boston has a well-diversified industry base and bountiful intellectual capital.

Employment

Boston’s unemployment rate (pre-Covid) was 2.5%. Historically Boston’s unemployment rate has generally been lower than the national average.

Fidelity Investments, Sovereign Bank, Bank of America, State Street Corporation, Liberty Mutual, Gillette and Houghton Mufflin have all headquarters in Boston.

Boston has one of the most educated workforces out of all major US metros, with 48.2% of adults having a bachelors’ degree or higher (Bloomberg City Lab, 08/23/19). The high percentage of educated workers in Boston also leads to higher per capita and household incomes.

The top 5 employers is Greater Boston Area are as follows:

• Massachusetts General Hospital: 23,202
• Stop & Shop Co. Inc: 23,000
• Harvard University: 17,998
• University of Massachusetts: 17,607
• Brigham & Women’s Hospital: 15,000

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Wealth

The Boston metro area is the fifth wealthiest in the US with median household income of $82,380 a year, 53% above national average (USA Today, 05/23/18).

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