Lake and Peninsula Borough Income Charts

This section shows the Lake and Peninsula Borough Alaska economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake and Peninsula Borough shows it has a Median earnings of $51,875 which is less than most 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 $61,406 (18.4% larger). Comparing median earnings per worker to the United States average of $53,269, Lake and Peninsula Borough is only about 2.7% smaller. Also, measured against the state of Alaska, median earnings per worker of $60,695, Lake and Peninsula Borough is about 17.0% 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 $49,688 which is the smallest in terms of median household income of all the other counties in the local area. The county with the highest median household income in the area is Kodiak Island Borough which depicts a median income of $83,765 (68.6% larger). Comparing median household income to the United States average of $69,021, Lake and Peninsula Borough is approximately three-fourths the size. Also, compared to the state of Alaska, median household income of $80,287, 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 it has the largest proportion of earnings less than $10,000 at 8.8% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $20,000 and $49,999 at 16.2% of the total. Third, it has the smallest proportion of earnings between $50,000 and $74,999 at 5.7% of the total. Also, it has the smallest proportion of earnings between $75,000 and $99,999 at 7.0% 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 42.6 which is in the center range of other counties in the local area. The county with the highest average hours in the area is Aleutians East Borough which shows an average hours of 59.5 (39.7% 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 $23.42 which is less than most other counties in the metro area. The county with the highest average hourly earnings in the area is Bethel Census Area which depicts an average hourly earnings of $30.42 (29.9% larger). Comparing average hourly earnings to the United States average of $26.40, Lake and Peninsula Borough is about 12.7% smaller. Also, measured against the state of Alaska, average hourly earnings of $28.26, Lake and Peninsula Borough is about 20.7% 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 24.5% 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 30.6% (25.3% larger).

Turning our attention to Figure 8, the median household income by age group, has the smallest proportion of median income-under 25 years at $60,417 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $52,500 of the total. Third, it has the smallest proportion of median income-45 to 64 years at $35,833 of the total.

Figure 9 breaks down the source of income and Lake and Peninsula Borough has the largest proportion of social security at 2.3% of the total and is ranked #1.

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 10.3% which is the smallest when sorted by households with retirement income of all the other counties in the metro area. The county with the highest households with retirement income in the area is Kenai Peninsula Borough which depicts a households with retirement income of 27.1% (approximately 2.6 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 sorted by overall family income of all the other counties in the surrounding region at $99,107 of the total. Second, it has the smallest proportion of black family income at $44,625 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 depicts it has the hightest cost of 135.7 for the cost of healthcare group.

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 depicts that from February 2010 to before the disasterous COVID-19 Pandemic the monthly unemployment rate went from 21.8% to 11.4% in February 2020. This represents a decrease in the monthly unemployment rate of 47.7%. Since that time, the monthly unemployment rate has gone to 3.9% This represents a decrease in the monthly unemployment rate of 65.8%. 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 depicts that from February 2010 to before the disasterous Covid-19 virus Pandemic the monthly labor force participation went from 505 to 566 in March 2020. This represents an increase in the monthly labor force participation of 12.1%. Since that time, the monthly labor force participation has gone to 961 This represents an increase in the monthly labor force participation of 69.8%.

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 10.9% which is the second most unemployment rate of all the counties in the greater Lake and Peninsula Borough region. The county with the highest unemployment rate in the area is Bethel Census Area which shows a rate of 11.3% (only about 3.7% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake and Peninsula Borough indicates it has a Labor Force Participation of 69.1% which is the third most of all other counties in the metro area.

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 2.3 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 depicts it has a Single Earner Families of 29.9% which is in the center range of 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 34.9% (16.6% larger). The percentage of families with no one working is depicted in Figure 22. Lake and Peninsula Borough depicts it has a Families with No One Working of 12.9% which is in the mid point range of other counties in the metro 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 20.4% (57.5% 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 153 which is the second smallest when sorted by total people earning less than the poverty level of all the other counties in the metro 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 6,819 ( substantially 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 depicts it has a Percent of Population In Poverty of 15.7% which is the third most of all other counties in the area. 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 28.5% (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 19% 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 38% of the total and is ranked #2. The only larger county being Bethel Census Area with 48%. Second, it has one of the largest proportions of unmarried female with children and in poverty at 33% of the total and is ranked #2. The only larger county being Bethel Census Area with 59%. 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 34.8% which is the second most households with public assistance of all the counties in the greater Lake and Peninsula Borough region. The county with the highest households with public assistance in the area is Bethel Census Area which shows a households with public assistance of 44.3% (27.4% 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 shows it has a Gini Index of 42.1% which is in the mid range of other counties in the metro 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 50%. 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 percentage of people who drove alone less than most other counties in the local area at 28% of the total. Second, it has the smallest proportion of people who carpooled at 3% 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 49%. Also, it has one of the largest proportions of people who took a taxicab, motorcycle or other at 17% of the total and is ranked #2. The only larger county being Bethel Census Area with 27%. 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 the smallest proportion of people who leave for work between 630 am to 7am at 3% of the total. Second, it has the largest proportion of people who leave for work between 830 am to 9am at 14% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 9am to 10am at 6% 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 47% of the total and is ranked #2. The only larger county being Aleutians East Borough with 64%. Second, it has the second smallest when ranked by people with commute time of less than 5 minutes of all the other counties in the local area in terms of 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.

The average commute time is shown in Figure 37. Lake and Peninsula Borough depicts it has a Avg Commute Time of 6 which is the smallest in order of average commute time of all the other counties in the local area. Figure 38 shows the difference between male versus female commuting time. Lake and Peninsula Borough indicates average commute time in minutes for men about 23.1% smaller 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 largest proportion of no vehicle available at 35% of the total and is ranked #1. Second, it has the second smallest when sorted by no vehicle available of all the other counties in the greater region when sorted by 1 vehicle available at 17% 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 44%, Lake and Peninsula Borough is about twice as large. Also, compared with the state of Alaska, people who both work and live in the same city of 72%, Lake and Peninsula Borough is 32.7% 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 $71,806 for the management, business, and financial 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 $138,750 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 group.

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 shows it has the hightest entrepreneurs of 75% for the self employed in retail trade aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake and Peninsula Borough shows it has a Self Employment Income of $21,658 which is the second smallest in order of average annual self employment income of all the other counties in the local 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 $59,216 (approximately 2.7 times bigger). Comparing average annual self employment income to the United States average of $42,141, Lake and Peninsula Borough is approximately half the size. Also, in contrast to the state of Alaska, average annual self employment income of $38,150, 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 approximately three-fourths the size as the total number of self-employed women.