Buffalo Soapstone CDP Alaska Income Charts

This section shows the Buffalo Soapstone 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, Buffalo Soapstone CDP shows it has a Median earnings of $61,667 which is less than most other places in the greater region. The place with the highest median earnings per worker in the area is Farm Loop CDP which depicts a median earnings of $77,339 (25.4% larger). Comparing median earnings per worker to the United States average of $53,269, Buffalo Soapstone CDP is 15.8% larger. Also, measured against the state of Alaska, median earnings per worker of $60,695, Buffalo Soapstone CDP is only slightly larger.

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 $64,107 which is the second smallest when sorted by median household income of all the other places in the local area. The place with the highest median household income in the area is Gateway CDP which depicts a median income of $110,610 (72.5% larger). Comparing median household income to the United States average of $69,021, Buffalo Soapstone CDP is about 7.7% smaller. Also, compared with the state of Alaska, median household income of $80,287, Buffalo Soapstone CDP is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Buffalo Soapstone CDP metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 7.1% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $15,000 and $19,999 at 18.9% of the total. Third, it has the smallest proportion of earnings between $50,000 and $74,999 at 7.9% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 37.4 which is the smallest when sorted by average hours of all the other places in the local area. The place with the highest average hours in the area is Sutton-Alpine CDP which shows an average hours of 45.0 (20.3% 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 $31.71 which is the second most average hourly earnings of all the places in the greater Buffalo Soapstone CDP region. The place with the highest average hourly earnings in the area is Farm Loop CDP which shows an average hourly earnings of $36.36 (14.7% larger). Comparing average hourly earnings to the United States average of $26.40, Buffalo Soapstone CDP is 20.1% larger. Also, in comparison with the state of Alaska, average hourly earnings of $28.26, Buffalo Soapstone CDP is 12.2% larger.

Figure 7 examines the number of self employed people in the Buffalo Soapstone CDP metro area based on the number of people who reported any self employment income. Buffalo Soapstone CDP depicts it has a Self Employed of 10.9% which is the second smallest in order 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 Gateway CDP which shows a percentage self employed of 20.8% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years the second smallest in order of median income for those under 25 years of age of all the other places in the surrounding region at $87,813 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $61,625 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $58,750 of the total and is ranked #3. Only #2 Gateway CDP ($75,852), and #1 Farm Loop CDP ($81,250) are larger.

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 33.4% which is the most of all places in the greater Buffalo Soapstone CDP region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the percentage of overall family income the second smallest when sorted by overall family income of all the other places in the surrounding region at $76,250 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Buffalo Soapstone CDP shows it has the hightest cost of 135.7 for the cost of healthcare aggregate.

Buffalo Soapstone 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 disasterous Covid-19 virus 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 shows that from January 2017 to before the Coronavirus 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 Buffalo Soapstone CDP depicts it has a Unemployment Rate of 6.0% which is at the top of all other places in the local area. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Buffalo Soapstone CDP depicts it has a Labor Force Participation of 54.8% which is the second smallest as measured by participation rate of all the other places in the metro area.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Buffalo Soapstone CDP has the largest proportion of employed at 6.0% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Buffalo Soapstone CDP shows full time employees about twice as large 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 Buffalo Soapstone CDP area. Buffalo Soapstone CDP shows it has a Single Earner Families of 39.9% which is the second most families with a single earner of all the places in the greater Buffalo Soapstone CDP region. The place with the highest families with a single earner in the area is Sutton-Alpine CDP which depicts a single earners rate of 44.4% (11.4% larger). The percentage of families with no one working is depicted in Figure 22. Buffalo Soapstone CDP depicts it has a Families with No One Working of 16.1% which is the third most of all other places in the area. The place with the highest families with no one working in the area is Sutton-Alpine CDP which shows a families with no worker of 19.3% (19.5% larger).

Buffalo Soapstone CDP Alaska Poverty Charts

The next section details economy analysis about poverty for residents of the Buffalo Soapstone 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. Buffalo Soapstone CDP shows it has a Total In Poverty of 131 which is less than most other places in the metro area. The place with the highest total people earning less than the poverty level in the area is Palmer which depicts a total people earning less than the poverty level of 674 ( considerably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Buffalo Soapstone CDP depicts it has a Percent of Population In Poverty of 13.9% which is more than all other places in the greater Buffalo Soapstone CDP region.

In Figure 25 people who are in poverty are broken out by age group. Buffalo Soapstone CDP has the percentage of person in poverty under 12 years the second smallest when sorted by person in poverty under 12 years of all the other places in the metropolitan area at 3% of the total. Second, it has the largest proportion of person in poverty 12 to 17 years at 37% of the total and is ranked #1. Third, it has the second smallest when sorted by person in poverty under 12 years of all the other places in the metropolitan area when sorted by person in poverty 18 to 34 years at 11% of the total. Also, it has the largest proportion of person in poverty 35 to 54 years at 21% of the total and is ranked #1. In addition, it has the second smallest when ranked by person in poverty under 12 years of all the other places in the local area in order of person in poverty 55 to 64 years at 7% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Buffalo Soapstone CDP has the largest proportion of black poverty rate at 48% of the total and is ranked #1. Second, it has one of the largest proportions of hawaiian poverty rate at 27% of the total and is ranked #2. The only larger place being Sutton-Alpine CDP with 38%.

Figure 27 shows key poverty statistics for groups based on marriage status. Buffalo Soapstone CDP has the percentage of unmarried with children and in poverty less than most other places in the metro area at 22% of the total. Second, it has the largest proportion of unmarried female with children and in poverty at 31% 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. Buffalo Soapstone CDP has the largest proportion of highschool graduate and in poverty at 12% 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. Buffalo Soapstone CDP has one of the largest proportions of people who are in poverty and unemployed at 32.1% of the total and is ranked #2. The only larger place being Lazy Mountain CDP with 47.8%. 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.) Buffalo Soapstone CDP depicts it has a Public Assistance Percent of 18.8% which is at the top of all other places in the greater Buffalo Soapstone CDP region.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Buffalo Soapstone CDP depicts it has a Gini Index of 45.6% which is the second most of all the places in the surrounding region.

Buffalo Soapstone CDP Alaska Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Buffalo Soapstone CDP or elsewhere.) Buffalo Soapstone CDP has the largest proportion of people who drove alone at 81% of the total and is ranked #1. Second, it has the smallest proportion of people who carpooled at 6% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Buffalo Soapstone 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 greater region at 2% of the total. Second, it has the smallest proportion of people who leave for work between 5am to 530am at 2% of the total. Third, it has the largest proportion of people who leave for work between 530 am to 6am at 15% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 6am to 630am at 10% of the total. In addition, it has the smallest proportion of people who leave for work between 630 am to 7am at 6% of the total. Furthermore, it has the smallest proportion of people who leave for work between 7am to 730am at 5% of the total. Next it has the largest proportion of people who leave for work between 10am to 11am at 3% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Buffalo Soapstone CDP has one of the largest proportions of people with commute time of less than 5 minutesutes at 12% of the total and is ranked #2. The only larger place being Palmer with 17%. Second, it has the second smallest when sorted by people with commute time of less than 5 minutes of all the other places in the metro area in order of people with commute time between 5 to 9 minutes at 7% of the total. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 19% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 60 to 89 minutes at 2% of the total.

The average commute time is shown in Figure 37. Buffalo Soapstone CDP shows it has a Avg Commute Time of 31 which is the second smallest when ranked by average commute time of all the other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Buffalo Soapstone CDP shows average commute time in minutes for men 74.3% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Buffalo Soapstone CDP has the percentage of no vehicle available the second smallest in order of no vehicle available of all the other places in the metropolitan area at 7% of the total. Second, it has the second smallest when sorted by no vehicle available of all the other places in the local area as measured by 1 vehicle available at 27% of the total. Third, it has the largest proportion of 4 vehicles available at 16% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Buffalo Soapstone CDP depicts it has a Work in city or place where live of 8% which is the smallest as measured by people who both work and live in the same city of all the other places in the local area. The place with the highest people who both work and live in the same city in the area is Palmer which shows a people who both work and live in the same city of 36% (approximately 4.5 times bigger). Comparing people who both work and live in the same city to the United States average of 44%, Buffalo Soapstone CDP is approximately a sixth the size. Also, benchmarked against the state of Alaska, people who both work and live in the same city of 72%, Buffalo Soapstone CDP is approximately a tenth the size.

Buffalo Soapstone 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. Buffalo Soapstone CDP shows it has the hightest median earnings of $110,313 for the earnings-production, transportation, material moving occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Buffalo Soapstone CDP depicts it has the hightest median earnings of $68,750 for the earnings-healthcare practitioners and tech occupations group. The table in Figure 48, shows Buffalo Soapstone CDP employment data in terms of job categories and salary data.

Buffalo Soapstone 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. Buffalo Soapstone CDP shows it has the hightest entrepreneurs of 100% for the self employed management, business, science, and arts businesses grouping.

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. Buffalo Soapstone CDP shows it has the hightest entrepreneurs of 100% for the self employed in educational services, health care and social assistance classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Buffalo Soapstone CDP shows it has a Self Employment Income of $49,943 which is the third most average annual self employment income of all other places in the greater Buffalo Soapstone CDP region. The place with the highest average annual self employment income in the area is Gateway CDP which depicts an average annual self employment income of $69,605 (39.4% larger). Comparing average annual self employment income to the United States average of $42,141, Buffalo Soapstone CDP is 18.5% larger. Also, measured against the state of Alaska, average annual self employment income of $38,150, Buffalo Soapstone CDP is 30.9% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Buffalo Soapstone CDP depicts total number of self-employed men 4 times bigger as the total number of self-employed women.