As of 2008, Covington boasted more than 430 businesses offering approximately 4,700 jobs. The area has an estimated 0.41 jobs per working-age resident. This is below the south King County regional average of 1.22 jobs per working-age resident. The low ratio of jobs to residents means that many people travel outside of Covington for work. The average annual wage of those who work in Covington is $29,300. The median annual income of Covington households (as estimated in the 2006-2010 American Community Survey) is $84,323, 19% above the King County median of $68,065.
Covington seeks to add family wage jobs. A family wage job is one where a person can earn a wage that allows its family to meet its basic needs without resorting to public assistance and provides some ability to deal with emergencies and plan ahead. In King County, the 2011 family wage for a single adult with two children was $66,857/yr.