As a backdrop to The Informed Vermonter’s discussion of Vermont state programs and policies, fundamental information regarding Vermont’s population, economic performance and employment and wage trends is provided below.
As will be outlined in the next several articles, the underlying trends in Vermont do not paint a robust picture. Demographic and economic trends are decidedly mixed and pose challenges in the years ahead.
In the chart below, key Census Bureau data for Vermont is compared to the USA as a whole.
Key US Census Bureau Data, 2015
| Vermont | USA | |
| Population, 2016 Estimate | 624,594 | 323,127,513 |
| Population, 2015 | 626,042 | 321,418,820 |
| Population Under Age 18, 2015 | 19.2% | 22.9% |
| Population Over Age 65, 2015 | 17.6% | 14.9% |
| Population Growth, 2010-2016 | -0.2% | 4.7% |
| Median Household Income, 2015 | $55,176 | $53,889 |
| % In Poverty | 10.2% | 13.5% |
| Median Home Value | $217,500 | $178,600 |
| High School Graduation | 91.8% | 86.7% |
| College Graduation or Better | 36.0% | 29.8% |
Source: US Census Bureau
Key Observations
Declining Population: Vermont has a stagnant to declining population.
Aging Population: Vermont has a materially greater proportion of people aged 65 and older and this is growing rapidly, from 14.6% of the population in 2010 to 17.6% in 2015.
Shrinking Student Aged Population: The portion of the population aged under 18 has declined from 20.7% in 2010 to 19.2% in 2015 and is below the national average.
Low Poverty Rate: Vermont’s poverty rate is 24.4% lower than the USA average.
High Education Achievement: Vermont has a highly educated population with college graduation rates exceeding the USA average by 20.8%.
As one in the “over 65” category who moved to Vermont a few years ago, I would like to point out some ways in which seniors may not be drain on the economy. Those of us with comfortable retirement incomes spend money on goods and services. Those of us without adequate retirement savings are contributing to the economy by working beyond age 65. Virtually everyone over age 65 has at least some health insurance through Medicare.
I understand that the state needs more young people and families to have a stable and sustainable economy, but I don’t believe that seniors should be considered simply as a drain on the economy.
The Informed Vermonter will be over 65 in the near future!!
I’d say that the over-65 group helps to keep Vermont, well, let’s say Vermont. Millennials on the other hand could remain Vermont’s largest export and considering their perspectives on Yankee traditions, they may not necessarily be a bad thing. 🙂
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