2022 Capital Region
After years of slow growth, the creative economy in the Capital Region finally began to gain traction just before the pandemic. There were roughly 6% more jobs in the creative economy in 2019 compared to 2007, but the economic downturn caused a 6.5% drop in employment in 2020. Certain sectors, such as Entertainment and Digital Media, saw employment increasing by an even faster rate at 12.4% from 2007 to 2019.
Others did not fare as well. Creative Goods and Products saw a 26% decline in employment over this period. Following the broader statewide trend, the Fine and Performing Arts sector was the hardest hit by the pandemic with employment shrinking by 20.6%. By 2020, creative economy employment accounted for only around 3.9% of the total workforce.
Like many other regions, the Entertainment and Digital Media sector accounts for the majority of all jobs in the creative economy with a 61% workforce share and is the only sector to have added jobs over the past decade. It also boasts the most highly compensated workforce with an average annual wage of $96,450, an increase of over 56% from 2007 to 2020. The average annual wage for the creative economy, at $88,633, was considerably higher than the economy as a whole, at $64,915. Moreover, creative economy wages grew by 51% between 2007 and 2020, which outpaced wage growth for the economy overall.
For more information on the regions, please download the 2022 Otis College Report on the Creative Economy.
Download the Otis Report on the Creative Economy
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