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 aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)