Economy
The mean annual salary of a wage earner in Bellingham is $37,990, which is below the Washington State average of $44,710.
Adjusted for inflation, wages in Bellingham and Whatcom County have been declining for more than 30 years as service-oriented jobs gain prominence in the local economy, and goods production (mining, construction and manufacturing) decline as a share of total employment. Service oriented jobs now constitute at least 77% of all non-agricultural employment in Whatcom County.
Between 1989 and 1999 median household income grew 41% in Whatcom County while housing costs grew 108% over the same period. In each year 1998–2000 the average wage in Whatcom County was not enough to afford a two-bedroom rental unit.
For the year 2005, the median price of all homes sold in Whatcom County was $259,000 while the median price of homes sold in the Bellingham area was $269,000. This compares with a statewide median home price of $260,900.
Read more about this topic: Bellingham
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)