Big Lake CDP Alaska Income Charts

This section shows the Big Lake CDP Alaska economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Big Lake CDP shows it has a Median earnings of $56,311 which is less than most other places in the area. The place with the highest median earnings per worker in the area is Knik-Fairview CDP which shows a median earnings of $64,573 (14.7% larger). Comparing median earnings per worker to the United States average of $53,269, Big Lake CDP is only about 5.7% larger. Also, compared to the state of Alaska, median earnings per worker of $60,695, Big Lake CDP is about 7.8% smaller.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $57,157 which is the second smallest in order of median household income of all the other places in the metro area. The place with the highest median household income in the area is Knik-Fairview CDP which depicts a median income of $88,708 (55.2% larger). Comparing median household income to the United States average of $69,021, Big Lake CDP is about 20.8% smaller. Also, versus the state of Alaska, median household income of $80,287, Big Lake CDP is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Big Lake CDP metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 less than most other places in the area at 4.8% of the total. Second, it has the largest proportion of earnings between $15,000 and $19,999 at 28.1% of the total and is ranked #1. Third, it has the largest proportion of earnings between $50,000 and $74,999 at 13.9% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 39.4 which is the smallest in terms of average hours of all the other places in the greater region. The place with the highest average hours in the area is Knik-Fairview CDP which depicts an average hours of 43.1 (9.4% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $27.48 which is in the mid point range of other places in the greater region. The place with the highest average hourly earnings in the area is Point MacKenzie CDP which depicts an average hourly earnings of $29.25 (6.4% larger). Comparing average hourly earnings to the United States average of $26.40, Big Lake CDP is only about 4.1% larger. Also, benchmarked against the state of Alaska, average hourly earnings of $28.26, Big Lake CDP is only about 2.8% smaller.

Figure 7 examines the number of self employed people in the Big Lake CDP metro area based on the number of people who reported any self employment income. Big Lake CDP depicts it has a Self Employed of 5.3% which is the smallest in terms of percentage of people self employed of all the other places in the local area. The place with the highest percentage of people self employed in the area is Point MacKenzie CDP which depicts a percentage self employed of 20.6% (approximately 3.9 times bigger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $91,175 of the total and is ranked #3. Only #2 Meadow Lakes CDP ($102,750), and #1 Knik-Fairview CDP ($102,917) are larger. Second, it has the smallest proportion of median income-25 to 44 years at $56,532 of the total. Third, it has in the middle range of other places in the local area in terms of median income-45 to 64 years at $44,083 of the total.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 14.8% which is the smallest in order of households with retirement income of all the other places in the metropolitan area. The place with the highest households with retirement income in the area is Meadow Lakes CDP which depicts a households with retirement income of 25.7% (73.7% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $93,304 of the total and is ranked #2. The only larger place being Knik-Fairview CDP with $99,834.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Big Lake CDP depicts it has the hightest cost of 135.7 for the cost of healthcare classification.

Big Lake CDP Alaska Labor Force Charts

The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the COVID-19 Pandemic it went from 6.3% to 4.8% in December 2019. This represents a decrease in the monthly unemployment rate of 23.8%. Since that time, the monthly unemployment rate has gone to 4.8%. This represents an increase in the monthly unemployment rate of very little. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. The monthly labor force participation depicts that from January 2017 to before the COVID-19 Pandemic it went from 154,379 to 148,116 in November 2019. This represents a decrease in the monthly labor force participation of 4.1%. Since that time, the monthly labor force participation has gone to 148,116. This represents an increase in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Big Lake CDP indicates it has a Unemployment Rate of 4.6% which is in the mid point range of other places in the surrounding region. The place with the highest unemployment rate in the area is Houston which shows a rate of 8.1% (76.1% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Big Lake CDP shows it has a Labor Force Participation of 52.9% which is the second smallest when ranked by participation rate of all the other places in the metropolitan area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Big Lake CDP depicts full time employees approximately 2.9 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Big Lake CDP area. Big Lake CDP shows it has a Single Earner Families of 34.2% which is in the middle range of other places in the area. The place with the highest families with a single earner in the area is Point MacKenzie CDP which depicts a single earners rate of 74.6% (about twice as large). The percentage of families with no one working is depicted in Figure 22. Big Lake CDP shows it has a Families with No One Working of 27.2% which is the largest of all places in the local area.

Big Lake CDP Alaska Poverty Charts

The next section details economy analysis about poverty for residents of the Big Lake CDP community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Big Lake CDP depicts it has a Total In Poverty of 553 which is less than most other places in the local area. The place with the highest total people earning less than the poverty level in the area is Knik-Fairview CDP which shows a total people earning less than the poverty level of 1,663 (approximately 3.0 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Big Lake CDP shows it has a Percent of Population In Poverty of 19.1% which is at the top of all other places in the greater Big Lake CDP region.

In Figure 25 people who are in poverty are broken out by age group. Big Lake CDP has the percentage of person in poverty 12 to 17 years the second smallest when sorted by person in poverty under 12 years of all the other places in the local area at 14% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Big Lake CDP has one of the largest proportions of black poverty rate at 49% of the total and is ranked #2. The only larger place being Point MacKenzie CDP with 59%. Second, it has one of the largest proportions of hawaiian poverty rate at 29% of the total and is ranked #2. The only larger place being Houston with 47%.

Figure 27 shows key poverty statistics for groups based on marriage status. Big Lake CDP has one of the largest proportions of married with children and in poverty at 42% of the total and is ranked #2. The only larger place being Houston with 60%. Second, it has one of the largest proportions of unmarried with children and in poverty at 46% of the total and is ranked #3. Only #2 Meadow Lakes CDP (56%), and #1 Houston (70%) are larger. Third, it has the largest proportion of unmarried female with children and in poverty at 33% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Big Lake CDP has the largest proportion of less than highschool in poverty at 22% of the total and is ranked #1. Second, it has the largest proportion of has some college and in poverty at 11% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Big Lake CDP has the largest proportion of people who are in poverty and unemployed at 38.7% of the total and is ranked #1. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Big Lake CDP indicates it has a Public Assistance Percent of 11.8% which is in the mid point range of other places in the metro area. The place with the highest households with public assistance in the area is Houston which depicts a households with public assistance of 27.9% (approximately 2.4 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Big Lake CDP shows it has a Gini Index of 46.5% which is the second most the gini index of all the places in the greater Big Lake CDP region.

Big Lake CDP Alaska Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Big Lake CDP community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Big Lake CDP has the largest proportion of people who bicycle or walk to work at 20% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Big Lake CDP or elsewhere.) Big Lake CDP has the percentage of people who drove alone the second smallest when ranked by people who drove alone of all the other places in the greater region at 67% of the total. Second, it has the largest proportion of people who work from home at 20% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Big Lake CDP has the percentage of people who leave for work between 12am to 5am the second smallest in terms of people who leave for work between 12am to 5am of all the other places in the local area at 4% of the total. Second, it has the largest proportion of people who leave for work between 630 am to 7am at 29% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 12noon to 4pm at 1% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Big Lake CDP has the percentage of people with commute time between 5 to 9 minutes the second smallest in order of people with commute time of less than 5 minutes of all the other places in the greater region at 6% of the total. Second, it has one of the largest proportions of people with commute time between 60 to 89 minutes at 16% of the total and is ranked #2. The only larger place being Houston with 16%.

The average commute time is shown in Figure 37. Big Lake CDP shows it has a Avg Commute Time of 48 which is the second most average commute time of all the places in the greater Big Lake CDP region. Figure 38 shows the difference between male versus female commuting time. Big Lake CDP shows average commute time in minutes for men approximately 2.7 times bigger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Big Lake CDP has the largest proportion of 1 vehicle available at 48% of the total and is ranked #1. Second, it has the smallest proportion of 3 vehicles available at 8% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Big Lake CDP depicts it has a Work in city or place where live of 30% which is the second most of all the places in the greater region. The place with the highest people who both work and live in the same city in the area is Wasilla which depicts a people who both work and live in the same city of 39% (27.4% larger). Comparing people who both work and live in the same city to the United States average of 44%, Big Lake CDP is approximately three-fourths the size. Also, compared with the state of Alaska, people who both work and live in the same city of 72%, Big Lake CDP is approximately half the size.

Big Lake CDP Alaska Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Big Lake CDP shows it has the hightest median earnings of $90,833 for the earnings-computer, engineering, and science occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Big Lake CDP depicts it has the hightest median earnings of $62,917 for the earnings-education, legal, community service, arts, media occupations group. The table in Figure 48, shows Big Lake CDP employment data in terms of job categories and salary data.

Big Lake CDP Alaska Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Big Lake CDP shows it has the hightest entrepreneurs of 91% for the self employed management, business, science, and arts businesses category.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Big Lake CDP depicts it has the hightest entrepreneurs of 42% for the self employed in construction classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Big Lake CDP depicts it has a Self Employment Income of $24,855 which is the second smallest in terms of average annual self employment income of all the other places in the metro area. The place with the highest average annual self employment income in the area is Wasilla which shows an average annual self employment income of $68,158 (approximately 2.7 times bigger). Comparing average annual self employment income to the United States average of $42,141, Big Lake CDP is approximately half the size. Also, measured against the state of Alaska, average annual self employment income of $38,150, Big Lake CDP is approximately three-fourths the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Big Lake CDP shows total number of self-employed men 22.9% larger as the total number of self-employed women.