Knik River CDP Alaska Income Charts

This section shows the Knik River 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, Knik River CDP shows it has a Median earnings of $62,917 which is in the mid point range of other places in the area. The place with the highest median earnings per worker in the area is Farm Loop CDP which depicts a median earnings of $77,339 (22.9% larger). Comparing median earnings per worker to the United States average of $53,269, Knik River CDP is 18.1% larger. Also, benchmarked against the state of Alaska, median earnings per worker of $60,695, Knik River CDP is only about 3.7% 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 $70,078 which is less than most other places in the metropolitan area. The place with the highest median household income in the area is Gateway CDP which depicts a median income of $110,610 (57.8% larger). Comparing median household income to the United States average of $69,021, Knik River CDP is only slightly larger. Also, versus the state of Alaska, median household income of $80,287, Knik River CDP is about 14.6% smaller.

The next section examines a variety of different income statistics for the Knik River 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 local area at 3.9% of the total. Second, it has the smallest proportion of earnings between $10,000 and $14,999 at 3.7% of the total. Third, it has the smallest proportion of earnings between $50,000 and $74,999 at 7.6% 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 38.5 which is the second smallest when ranked by average hours of all the other places in the local area. The place with the highest average hours in the area is Gateway CDP which depicts an average hours of 41.9 (8.8% 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 $31.43 which is the third most average hourly earnings of all other places in the greater Knik River 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 (15.7% larger). Comparing average hourly earnings to the United States average of $26.40, Knik River CDP is 19.0% larger. Also, compared with the state of Alaska, average hourly earnings of $28.26, Knik River CDP is 11.2% larger.

Figure 7 examines the number of self employed people in the Knik River CDP metro area based on the number of people who reported any self employment income. Knik River CDP depicts it has a Self Employed of 12.7% which is less than most other places in the metro area. The place with the highest percentage of people self employed in the area is Gateway CDP which depicts a percentage self employed of 20.8% (63.9% larger).

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 $111,875 of the total and is ranked #2. The only larger place being Gateway CDP with $112,153. Second, it has the second smallest in order of median income for those under 25 years of age of all the other places in the metropolitan area in terms of median income-25 to 44 years at $62,500 of the total. Third, it has the second smallest in terms of median income for those under 25 years of age of all the other places in the surrounding region in terms of median income-45 to 64 years at $41,964 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 18.7% which is the smallest in terms of households with retirement income of all the other places in the local area. The place with the highest households with retirement income in the area is Buffalo Soapstone CDP which depicts a households with retirement income of 33.4% (78.5% larger).

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 less than most other places in the greater region at $91,250 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. Knik River CDP indicates it has the hightest cost of 135.7 for the cost of healthcare category.

Knik River CDP Alaska Labor Force Charts

The next two charts look at very recent, 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 2020, the Covid 19 recession or great recession occurred and affects this metric. . It shows that from February 2010 to before the disasterous COVID-19 Pandemic the monthly unemployment rate went from 7.3% to 4.1% in February 2020. This represents a decrease in the monthly unemployment rate of 43.8%. Since that time, the monthly unemployment rate has gone to 2.9% This represents a decrease in the monthly unemployment rate of 29.3%. 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. . It shows that from February 2010 to before the disasterous Coronavirus Pandemic the monthly labor force participation went from 156,352 to 147,748 in March 2020. This represents a decrease in the monthly labor force participation of 5.5%. Since that time, the monthly labor force participation has gone to 150,013 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 Knik River CDP depicts it has a Unemployment Rate of 3.1% which is less than most other places in the greater region. The place with the highest unemployment rate in the area is Buffalo Soapstone CDP which shows a rate of 6.0% (about twice as large). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Knik River CDP depicts it has a Labor Force Participation of 66.3% which is the third most participation rates of all other places in the greater Knik River CDP region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Knik River CDP shows full time employees approximately 3.6 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 Knik River CDP area. Knik River CDP depicts it has a Single Earner Families of 32.9% which is the third most families with a single earner of all other places in the greater Knik River CDP region. The place with the highest families with a single earner in the area is Buffalo Soapstone CDP which shows a single earners rate of 39.9% (21.3% larger). The percentage of families with no one working is depicted in Figure 22. Knik River CDP depicts it has a Families with No One Working of 10.5% which is the second smallest in order of families with no one working of all the other places in the greater region. The place with the highest families with no one working in the area is Lazy Mountain CDP which depicts a families with no worker of 19.2% (about twice as large).

Knik River CDP Alaska Poverty Charts

The next section details economy analysis about poverty for residents of the Knik River 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. Knik River CDP depicts it has a Total In Poverty of 86 which is the smallest in order of total people earning less than the poverty level of all the other places in the local area. The place with the highest total people earning less than the poverty level in the area is Palmer which shows a total people earning less than the poverty level of 674 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Knik River CDP shows it has a Percent of Population In Poverty of 10.8% which is in the mid point range of other places in the greater region. The place with the highest percent of people earning less than the poverty level in the area is Buffalo Soapstone CDP which indicates a percent of people in poverty of 13.9% (29.2% larger).

In Figure 25 people who are in poverty are broken out by age group. Knik River CDP has one of the largest proportions of person in poverty under 12 years at 15% of the total and is ranked #2. The only larger place being Gateway CDP with 29%. Second, it has one of the largest proportions of person in poverty 18 to 34 years at 27% of the total and is ranked #2. The only larger place being Gateway CDP with 34%. Third, it has the smallest proportion of person in poverty 35 to 54 years at 5% of the total. Also, it has the smallest proportion of person in poverty 55 to 64 years at 5% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Knik River CDP has the largest proportion of black poverty rate at 62% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Knik River CDP has the percentage of married with children and in poverty the second smallest when ranked by married with children and in poverty of all the other places in the metro area at 15% of the total. Second, it has the largest proportion of unmarried female with children and in poverty at 42% 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. Knik River CDP has the largest proportion of people who are in poverty and employed at 9.3% of the total and is ranked #1. Second, it has the smallest proportion of people who are in poverty and unemployed at 10.5% of the total. 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.) Knik River CDP shows it has a Public Assistance Percent of 15.9% which is the third most households with public assistance of all other places in the greater Knik River CDP region. The place with the highest households with public assistance in the area is Buffalo Soapstone CDP which shows a households with public assistance of 18.8% (18.2% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Knik River CDP depicts it has a Gini Index of 44.4% which is the third most the gini index of all other places in the greater Knik River CDP region.

Knik River 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 Knik River 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.) Knik River CDP has the smallest proportion of people who bicycle or walk to work at 4% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Knik River CDP or elsewhere.) Knik River CDP has the largest proportion of people who took a taxicab, motorcycle or other at 9% of the total and is ranked #1. Second, it has the smallest proportion of people who work from home at 4% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Knik River CDP has one of the largest proportions of people who leave for work between 12am to 5am at 7% of the total and is ranked #2. The only larger place being Lazy Mountain CDP with 8%. Second, it has the smallest proportion of people who leave for work between 530 am to 6am at 3% of the total. Third, it has the largest proportion of people who leave for work between 6am to 630am at 20% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 7am to 730am at 5% of the total. In addition, it has the smallest proportion of people who leave for work between 8am to 830am at 2% of the total. Furthermore, it has the smallest proportion of people who leave for work between 830 am to 9am at 3% of the total. Next it has the largest proportion of people who leave for work between 9am to 10am at 5% of the total and is ranked #1. Additionally, it has the largest proportion of people who leave for work between 12noon to 4pm at 14% 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. Knik River CDP has the smallest proportion of people with commute time of less than 5 minutesutes at 3% of the total. Second, it has the smallest proportion of people with commute time between 5 to 9 minutes at 3% of the total. Third, it has the smallest proportion of people with commute time between 10 to 14 minutes at 2% of the total. Also, it has the smallest proportion of people with commute time between 15 to 19 minutes at 6% of the total. In addition, it has the largest proportion of people with commute time between 20 to 24 minutes at 10% of the total and is ranked #1. Furthermore, it has the largest proportion of people with commute time between 25 to 29 minutes at 25% of the total and is ranked #1. Next it has the largest proportion of people with commute time between 45 to 59 minutes at 25% of the total and is ranked #1.

The average commute time is shown in Figure 37. Knik River CDP depicts it has a Avg Commute Time of 40 which is the highest of all places in the local area. Figure 38 shows the difference between male versus female commuting time. Knik River CDP depicts average commute time in minutes for men about twice as large as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Knik River CDP has one of the largest proportions of no vehicle available at 17% of the total and is ranked #2. The only larger place being Palmer with 20%. Second, it has less than most other places in the metropolitan area in order of 1 vehicle available at 29% of the total. Third, it has the smallest proportion of 3 vehicles available at 5% of the total. Also, it has one of the largest proportions of 4 vehicles available at 15% of the total and is ranked #2. The only larger place being Buffalo Soapstone CDP with 16%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Knik River CDP shows it has a Work in city or place where live of 11% which is the second smallest in terms of people who both work and live in the same city of all the other places in the greater region. 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 3.3 times bigger). Comparing people who both work and live in the same city to the United States average of 44%, Knik River CDP is approximately a quarter the size. Also, measured against the state of Alaska, people who both work and live in the same city of 72%, Knik River CDP is approximately a sixth the size.

Knik River 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. Knik River CDP depicts it has the hightest median earnings of $150,833 for the management, business, and financial occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Knik River CDP shows it has the hightest median earnings of $89,688 for the earnings-healthcare practitioners and tech occupations category. The table in Figure 48, shows Knik River CDP employment data in terms of job categories and salary data.

Knik River 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. Knik River CDP depicts it has the hightest entrepreneurs of 100% for the self employed in natural resources, construction, and maintenance businesses classification.

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. Knik River CDP depicts it has the hightest entrepreneurs of 100% for the self employed in construction classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Knik River CDP shows it has a Self Employment Income of $41,758 which is in the middle range of other places in the greater 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 (66.7% larger). Comparing average annual self employment income to the United States average of $42,141, Knik River CDP is about the same size. Also, compared to the state of Alaska, average annual self employment income of $38,150, Knik River CDP is 9.5% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Knik River CDP shows total number of self-employed men about twice as large as the total number of self-employed women.