Valdez-Cordova Census Area Income Charts

This section shows the Valdez-Cordova Census Area Alaska economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Valdez-Cordova Census Area depicts it has a Median earnings of $63,614 which is more than all other counties in the greater Valdez-Cordova Census Area region. Comparing median earnings per worker to the United States average of $49,041, Valdez-Cordova Census Area is 29.7% larger. Also, in comparison with the state of Alaska, median earnings per worker of $56,149, Valdez-Cordova Census Area is 13.3% 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 $79,867 which is the third most median income of all other counties in the greater Valdez-Cordova Census Area region. The county with the highest median household income in the area is Anchorage Municipality which shows a median income of $84,928 (6.3% larger). Comparing median household income to the United States average of $62,843, Valdez-Cordova Census Area is 27.1% larger. Also, versus the state of Alaska, median household income of $77,640, Valdez-Cordova Census Area is only about 2.9% larger.

The next section examines a variety of different income statistics for the Valdez-Cordova Census Area metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings less than $10,000 at 4.0% of the total. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 9.3% of the total and is ranked #1. Third, it has the smallest proportion of earnings between $15,000 and $19,999 at 22.5% of the total. Also, it has the largest proportion of earnings between $50,000 and $74,999 at 12.8% 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 43.5 which is in the center range of other counties in the local area. The county with the highest average hours in the area is Skagway Municipality which shows an average hours of 48.0 (10.3% 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 $28.12 which is ranked #1 of all counties in the greater Valdez-Cordova Census Area region. Comparing average hourly earnings to the United States average of $24.31, Valdez-Cordova Census Area is 15.7% larger. Also, in comparison with the state of Alaska, average hourly earnings of $25.96, Valdez-Cordova Census Area is 8.3% larger.

Figure 7 examines the number of self employed people in the Valdez-Cordova Census Area metro area based on the number of people who reported any self employment income. Valdez-Cordova Census Area shows it has a Self Employed of 19.3% which is in the mid point range of other counties in the surrounding region. The county with the highest percentage of people self employed in the area is Yakutat City and Borough which depicts a percentage self employed of 39.7% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, has the smallest proportion of median income-under 25 years at $62,099 of the total. Second, it has one of the largest proportions of median income-25 to 44 years at $88,110 of the total and is ranked #3. Only #2 Fairbanks North Star Borough ($98,916), and #1 Anchorage Municipality ($105,330) are larger. Third, it has in the mid point range of other counties in the greater region in terms of median income-45 to 64 years at $62,500 of the total.

Figure 9 breaks down the source of income and Valdez-Cordova Census Area has the smallest proportion of self employment income at 12.2% of the total. Second, it has the smallest proportion of social security at 0.2% 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 13.5% which is the smallest when ranked 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 Denali Borough which depicts a households with retirement income of 26.6% (about twice as large).

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 $105,875 of the total and is ranked #3. Only #2 Denali Borough ($106,635), and #1 Anchorage Municipality ($114,428) are larger. Second, it has less than most other counties in the metro area as measured by black family income at $41,250 of the total. Third, it has the largest proportion of hawaiian family income at $94,000 of the total and is ranked #1.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Valdez-Cordova Census Area shows it has the hightest cost of 135.7 for the cost of healthcare classification.

Valdez-Cordova Census Area 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 2006 to before the disasterous COVID-19 Pandemic the monthly unemployment rate went from 4.8% to 3.5% in February 2020. This represents a decrease in the monthly unemployment rate of 27.1%. Since that time, the monthly unemployment rate has gone to 3.9% This represents an increase in the monthly unemployment rate of 11.4%. 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 indicates that from January 2010 to before the Coronavirus Pandemic the monthly labor force participation went from 4,390 to 4,140 in March 2020. This represents a decrease in the monthly labor force participation of 5.7%. Since that time, the monthly labor force participation has gone to 4,218 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 Valdez-Cordova Census Area shows it has a Unemployment Rate of 2.3% which is the second smallest in order of unemployment rate of all the other counties in the area. The county with the highest unemployment rate in the area is Southeast Fairbanks Census Area which depicts a rate of 6.7% (approximately 2.9 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Valdez-Cordova Census Area depicts it has a Labor Force Participation of 71.0% which is the second smallest in order of participation rate of all the other counties in the metro area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Valdez-Cordova Census Area depicts full time employees approximately 4.8 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 Valdez-Cordova Census Area area. Valdez-Cordova Census Area depicts it has a Single Earner Families of 25.2% which is the second smallest as measured by families with a single earner of all the other counties in the greater region. The county with the highest families with a single earner in the area is Denali Borough which shows a single earners rate of 37.5% (48.7% larger). The percentage of families with no one working is depicted in Figure 22. Valdez-Cordova Census Area depicts it has a Families with No One Working of 10.5% which is the second most families with no one working of all the counties in the greater Valdez-Cordova Census Area region. The county with the highest families with no one working in the area is Southeast Fairbanks Census Area which depicts a families with no worker of 19.2% (about twice as large).

Valdez-Cordova Census Area Poverty Charts

The next section details economy analysis about poverty for residents of the Valdez-Cordova Census Area 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. Valdez-Cordova Census Area shows it has a Total In Poverty of 714 which is in the mid range of other counties in the local area. The county with the highest total people earning less than the poverty level in the area is Anchorage Municipality which shows a total people earning less than the poverty level of 25,861 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Valdez-Cordova Census Area depicts it has a Percent of Population In Poverty of 7.8% which is less than most other counties in the area. The county with the highest percent of people earning less than the poverty level in the area is Denali Borough which shows a percent of people in poverty of 16.3% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Valdez-Cordova Census Area has the smallest proportion of person in poverty 18 to 34 years at 9% of the total. Second, it has the largest proportion of person in poverty 35 to 54 years at 25% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Valdez-Cordova Census Area has one of the largest proportions of black poverty rate at 22% of the total and is ranked #2. The only larger county being Southeast Fairbanks Census Area with 34%. Second, it has less than most other counties in the surrounding region when ranked by american indian poverty rate at 2% of the total. Third, it has one of the largest proportions of asian poverty rate at 14% of the total and is ranked #2. The only larger county being Anchorage Municipality with 22%.

Figure 27 shows key poverty statistics for groups based on marriage status. Valdez-Cordova Census Area has the largest proportion of unmarried with children and in poverty at 44% of the total and is ranked #1. Second, it has in the middle range of other counties in the greater region when ranked by unmarried female with children and in poverty at 12% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Valdez-Cordova Census Area has the largest proportion of people who are in poverty and employed at 10.8% of the total and is ranked #1. Second, it has the largest proportion of people who are in poverty and unemployed at 28.0% 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.) Valdez-Cordova Census Area depicts it has a Public Assistance Percent of 6.5% which is less than most other counties in the surrounding region. The county with the highest households with public assistance in the area is Yakutat City and Borough which depicts a households with public assistance of 11.9% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Valdez-Cordova Census Area depicts it has a Gini Index of 41.3% which is the second most the gini index of all the counties in the greater Valdez-Cordova Census Area region.

Valdez-Cordova Census Area Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Valdez-Cordova Census Area or elsewhere.) Valdez-Cordova Census Area has the percentage of people who walked in the mid range of other counties in the area at 15% of the total. Second, it has the largest proportion of people who took a taxicab, motorcycle or other at 4% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Valdez-Cordova Census Area has the smallest proportion of people who leave for work between 12am to 5am at 2% of the total. Second, it has the largest proportion of people who leave for work between 7am to 730am at 21% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 9am to 10am at 1% of the total. Also, it has the smallest proportion of people who leave for work between 11am to 12noon at 2% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Valdez-Cordova Census Area has one of the largest proportions of people with commute time of less than 5 minutesutes at 33% of the total and is ranked #3. Only #2 Yakutat City and Borough (37%), and #1 Skagway Municipality (43%) are larger. Second, it has the smallest proportion of people with commute time between 5 to 9 minutes at 9% of the total. Third, it has the largest proportion of people with commute time between 60 to 89 minutes at 2% of the total and is ranked #1.

The average commute time is shown in Figure 37. Valdez-Cordova Census Area depicts it has a Avg Commute Time of 12 which is less than most other counties in the greater region. Figure 38 shows the difference between male versus female commuting time. Valdez-Cordova Census Area shows average commute time in minutes for men 77.3% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Valdez-Cordova Census Area has the percentage of no vehicle available less than most other counties in the local area at 21% of the total. Second, it has the largest proportion of 1 vehicle available at 49% 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.) Valdez-Cordova Census Area indicates it has a Work in city or place where live of 84% which is in the mid point range of other counties in the greater region. The county with the highest people who both work and live in the same city in the area is Skagway Municipality which shows a people who both work and live in the same city of 98% (17.5% larger). Comparing people who both work and live in the same city to the United States average of 42%, Valdez-Cordova Census Area is about twice as large. Also, in contrast to the state of Alaska, people who both work and live in the same city of 72%, Valdez-Cordova Census Area is 15.9% larger.

Valdez-Cordova Census Area 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. Valdez-Cordova Census Area shows it has the hightest median earnings of $145,000 for the earnings-healthcare practitioners and tech occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Valdez-Cordova Census Area shows it has the hightest median earnings of $90,234 for the earnings-education, legal, community service, arts, media occupations group. The table in Figure 48, shows Valdez-Cordova Census Area employment data in terms of job categories and salary data.

Valdez-Cordova Census Area 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. Valdez-Cordova Census Area depicts it has the hightest entrepreneurs of 73% 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. Valdez-Cordova Census Area depicts it has the hightest entrepreneurs of 74% for the self employed in agriculture, forestry, fishing and hunting, and mining classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Valdez-Cordova Census Area shows it has a Self Employment Income of $48,688 which is the second most of all the counties in the local area. The county with the highest average annual self employment income in the area is Southeast Fairbanks Census Area which depicts an average annual self employment income of $49,177 ( only slightly larger). Comparing average annual self employment income to the United States average of $39,154, Valdez-Cordova Census Area is 24.4% larger. Also, measured against the state of Alaska, average annual self employment income of $37,798, Valdez-Cordova Census Area is 28.8% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Valdez-Cordova Census Area shows total number of self-employed men approximately 2.9 times bigger as the total number of self-employed women.