- Economic Development
As part of the DFW Metroplex, with a growing population, Granbury and Hood County offer a large, talented labor shed within 35 miles of downtown Fort Worth. The primary labor shed comprises seven counties with a growing population of 2,605,438, a civilian labor force of over 1,330,000, and a labor force participation rate of 66% which is higher than the State of Texas and U.S.
|Area||Labor Force||Employment||Unemployment||Unemployment Percent|
|City of Granbury||4,921||4,768||153||3.1|
Source, EMSI, ESRI, Jobs EQ, 2022, Texas Workforce Commission. Labor Shed Counties: Hood, Somervell, Tarrant, Parker, Johnson, Erath, and Palo Pinto Counties..
|Area||Average Earnings Per Job||Average Wages|
|City of Granbury||$45,347||$43,857|
Source: Jobs EQ, 2022, QCEW, EMSI, 2022
Selected Occupation Employment & Wages
Manufacturing/Aerospace Cluster-Labor Shed Area
Average Mean Wages
Maintenance and Repair Workers, General
Inspectors, Testers, Sorters, Samplers, and Weighers
First-Line Supervisors of Production and Operating Workers
Welders, Cutters, Solderers, & Brazers
First-Line Supervisors of Mechanics, Installers, and Repairers
Industrial Machinery Mechanics
Production, Planning, and Expediting Clerks
Purchasing Agents, Except Wholesale, Retail, and Farm Products
Source-Jobs EQ, 2022, * Location Quotient: A location quotient (LQ) is an analytical statistic that measures a region’s industrial specialization relative to a larger geographic unit (usually the nation). An LQ is computed as an industry’s share of a regional total for some economic statistic (earnings, GDP by metropolitan area, employment, etc.) divided by the industry’s share of the national total for the same statistic. For example, an LQ of 1.0 in mining means that the region and the nation are equally specialized in mining; while an LQ of 1.8 means that the region has a higher concentration in mining than the nation.