Lake and Peninsula Borough Income Charts

This section shows the Lake and Peninsula Borough Alaska economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake and Peninsula Borough shows it has a Median earnings of $54,821 which is in the mid range of other counties in the metro area. The county with the highest median earnings per worker in the area is Bristol Bay Borough which shows a median earnings of $65,000 (18.6% larger). Comparing median earnings per worker to the United States average of $50,459, Lake and Peninsula Borough is 8.6% larger. Also, measured against the state of Alaska, median earnings per worker of $57,634, Lake and Peninsula Borough is only about 5.1% 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 $48,750 which is the smallest as measured by median household income of all the other counties in the greater region. The county with the highest median household income in the area is Bristol Bay Borough which shows a median income of $79,808 (63.7% larger). Comparing median household income to the United States average of $64,994, Lake and Peninsula Borough is approximately three-fourths the size. Also, measured against the state of Alaska, median household income of $77,790, Lake and Peninsula Borough is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Lake and Peninsula Borough metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $20,000 and $49,999 at 16.5% of the total. Second, it has the smallest proportion of earnings between $75,000 and $99,999 at 3.0% 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 41.8 which is in the mid point range of other counties in the surrounding region. The county with the highest average hours in the area is Aleutians East Borough which shows an average hours of 60.0 (43.5% 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 $25.22 which is in the center range of other counties in the local area. The county with the highest average hourly earnings in the area is Bethel Census Area which shows an average hourly earnings of $29.24 (15.9% larger). Comparing average hourly earnings to the United States average of $25.01, Lake and Peninsula Borough is about the same size. Also, compared to the state of Alaska, average hourly earnings of $26.77, Lake and Peninsula Borough is about 6.1% smaller.

Figure 7 examines the number of self employed people in the Lake and Peninsula Borough metro area based on the number of people who reported any self employment income. Lake and Peninsula Borough depicts it has a Self Employed of 24.3% which is the third most people self employed of all other counties in the greater Lake and Peninsula Borough region. The county with the highest percentage of people self employed in the area is Aleutians East Borough which depicts a percentage self employed of 32.9% (35.3% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years less than most other counties in the greater region at $66,607 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $47,188 of the total. Third, it has the smallest proportion of median income-45 to 64 years at $32,500 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 10.4% which is the smallest in order of households with retirement income of all the other counties in the metropolitan area. The county with the highest households with retirement income in the area is Kenai Peninsula Borough which shows a households with retirement income of 26.1% (approximately 2.5 times bigger).

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 ranked by overall family income of all the other counties in the local area at $96,875 of the total. Second, it has the second smallest when sorted by overall family income of all the other counties in the metropolitan area in order of black family income at $40,208 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. Lake and Peninsula Borough shows it has the hightest cost of 135.7 for the cost of healthcare aggregate.

Lake and Peninsula Borough 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 January 2010 to before the disasterous COVID Pandemic the monthly unemployment rate went from 20.5% to 11.6% in March 2020. This represents a decrease in the monthly unemployment rate of 43.4%. Since that time, the monthly unemployment rate has gone to 8.3% This represents a decrease in the monthly unemployment rate of 28.4%. 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 January 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 497 to 603 in March 2020. This represents an increase in the monthly labor force participation of 21.3%. Since that time, the monthly labor force participation has gone to 552 This represents a decrease in the monthly labor force participation of 8.5%.

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 Lake and Peninsula Borough shows it has a Unemployment Rate of 12.9% which is the largest of all counties in the greater Lake and Peninsula Borough region. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake and Peninsula Borough depicts it has a Labor Force Participation of 70.8% which is in the mid point range of other counties in the local 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). Lake and Peninsula Borough has the largest proportion of employed at 12.9% 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. Lake and Peninsula Borough shows full time employees approximately 2.4 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 Lake and Peninsula Borough area. Lake and Peninsula Borough shows it has a Single Earner Families of 28.6% which is less than most other counties in the greater region. The county with the highest families with a single earner in the area is Bristol Bay Borough which depicts a single earners rate of 35.9% (25.7% larger). The percentage of families with no one working is depicted in Figure 22. Lake and Peninsula Borough shows it has a Families with No One Working of 13.6% which is in the mid range of other counties in the metropolitan area. The county with the highest families with no one working in the area is Kenai Peninsula Borough which depicts a families with no worker of 21.1% (54.5% larger).

Lake and Peninsula Borough Poverty Charts

The next section details economy analysis about poverty for residents of the Lake and Peninsula Borough 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. Lake and Peninsula Borough depicts it has a Total In Poverty of 177 which is the second smallest when sorted by total people earning less than the poverty level of all the other counties in the area. The county with the highest total people earning less than the poverty level in the area is Kenai Peninsula Borough which shows a total people earning less than the poverty level of 7,300 ( quite a bit bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake and Peninsula Borough shows it has a Percent of Population In Poverty of 15.5% which is the third most percent of people earning less than the poverty level of all other counties in the greater Lake and Peninsula Borough region. The county with the highest percent of people earning less than the poverty level in the area is Bethel Census Area which depicts a percent of people in poverty of 28.6% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Lake and Peninsula Borough has the smallest proportion of person in poverty 12 to 17 years at 23% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake and Peninsula Borough has the largest proportion of asian poverty rate at 100% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake and Peninsula Borough has one of the largest proportions of married with children and in poverty at 43% of the total and is ranked #2. The only larger county being Bethel Census Area with 50%. Second, it has one of the largest proportions of unmarried with children and in poverty at 46% of the total and is ranked #2. The only larger county being Aleutians East Borough with 49%. Third, it has one of the largest proportions of unmarried female with children and in poverty at 37% of the total and is ranked #2. The only larger county being Bethel Census Area with 60%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Lake and Peninsula Borough has one of the largest proportions of less than highschool in poverty at 22% of the total and is ranked #2. The only larger county being Bethel Census Area with 28%. 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.) Lake and Peninsula Borough depicts it has a Public Assistance Percent of 33.1% which is the third most of all other counties in the local area. The county with the highest households with public assistance in the area is Bethel Census Area which depicts a households with public assistance of 45.1% (36.3% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake and Peninsula Borough depicts it has a Gini Index of 40.5% which is in the center range of other counties in the area.

Lake and Peninsula Borough 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 Lake and Peninsula Borough 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.) Lake and Peninsula Borough has one of the largest proportions of people who take public transportation to work at 47% of the total and is ranked #2. The only larger county being Aleutians East Borough with 53%. Second, it has the smallest proportion of people who bicycle or walk to work at 5% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lake and Peninsula Borough or elsewhere.) Lake and Peninsula Borough has the smallest proportion of people who drove alone at 23% of the total. Second, it has the smallest proportion of people who carpooled at 6% of the total. Third, it has one of the largest proportions of people who walked at 47% of the total and is ranked #2. The only larger county being Aleutians East Borough with 52%. Also, it has one of the largest proportions of people who took a taxicab, motorcycle or other at 18% of the total and is ranked #2. The only larger county being Bethel Census Area with 25%. In addition, it has the smallest proportion of people who work from home at 5% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Lake and Peninsula Borough has one of the largest proportions of people who leave for work between 12am to 5am at 4% of the total and is ranked #3. Only #2 Kenai Peninsula Borough (4%), and #1 Aleutians East Borough (6%) are larger. Second, it has the smallest proportion of people who leave for work between 630 am to 7am at 3% of the total. Third, it has the largest proportion of people who leave for work between 730 am to 8am at 18% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 11am to 12noon at 7% 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. Lake and Peninsula Borough has one of the largest proportions of people with commute time of less than 5 minutesutes at 45% of the total and is ranked #2. The only larger county being Aleutians East Borough with 54%. Second, it has the second smallest in terms of people with commute time of less than 5 minutes of all the other counties in the local area when ranked by people with commute time between 5 to 9 minutes at 12% 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 25 to 29 minutes at 0% of the total. In addition, it has the largest proportion of people with commute time between 45 to 59 minutes at 2% of the total and is ranked #1.

The average commute time is shown in Figure 37. Lake and Peninsula Borough depicts it has a Avg Commute Time of 7 which is less than most other counties in the metro area. Figure 38 shows the difference between male versus female commuting time. Lake and Peninsula Borough depicts average commute time in minutes for men 64.3% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake and Peninsula Borough has the percentage of no vehicle available in the mid range of other counties in the local area at 32% of the total. Second, it has the second smallest when ranked by no vehicle available of all the other counties in the metropolitan area when sorted by 1 vehicle available at 21% of the total. Third, it has the smallest proportion of 3 vehicles available at 1% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake and Peninsula Borough depicts it has a Work in city or place where live of 95% which is the highest of all counties in the greater Lake and Peninsula Borough region. Comparing people who both work and live in the same city to the United States average of 43%, Lake and Peninsula Borough is approximately 2.2 times bigger. Also, versus the state of Alaska, people who both work and live in the same city of 72%, Lake and Peninsula Borough is 31.9% larger.

Lake and Peninsula Borough 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. Lake and Peninsula Borough shows it has the hightest median earnings of $72,188 for the earnings-natural resources, construction, maintenance occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake and Peninsula Borough depicts it has the hightest median earnings of $88,750 for the earnings-healthcare practitioners and tech occupations classification. The table in Figure 48, shows Lake and Peninsula Borough employment data in terms of job categories and salary data.

Lake and Peninsula Borough 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. Lake and Peninsula Borough depicts it has the hightest entrepreneurs of 75% for the self employed in sales and office related 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. Lake and Peninsula Borough depicts it has the hightest entrepreneurs of 75% for the self employed in retail trade classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake and Peninsula Borough depicts it has a Self Employment Income of $18,110 which is the smallest when ranked by average annual self employment income of all the other counties in the metro area. The county with the highest average annual self employment income in the area is Kodiak Island Borough which shows an average annual self employment income of $50,562 (approximately 2.8 times bigger). Comparing average annual self employment income to the United States average of $40,101, Lake and Peninsula Borough is approximately half the size. Also, benchmarked against the state of Alaska, average annual self employment income of $36,682, Lake and Peninsula Borough is approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake and Peninsula Borough shows total number of self-employed men about the same size as the total number of self-employed women.