The State of Arkansas Income Charts

This section shows the Arkansas economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Arkansas shows it has a Median earnings of $43,103 which is in the mid point range of other states in the metro area. The state with the highest median earnings per worker in the group is Texas which shows a median earnings of $50,806 (17.9% 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 $52,123 which is in the mid range of other states in the local area. The state with the highest median household income in the group is Texas which depicts a median income of $67,321 (29.2% larger).

The next section examines a variety of different income statistics for the Arkansas metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $15,000 and $19,999 at 36.6% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $20,000 and $49,999 at 20.2% of the total. Third, it has the smallest proportion of earnings between $50,000 and $74,999 at 6.5% of the total. Also, it has the smallest proportion of earnings between $75,000 and $99,999 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 39.5 which is in the middle range of other states in the metropolitan area. The state with the highest average hours in the group is Texas which depicts an average hours of 40.0 ( only slightly 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 $20.98 which is in the mid point range of other states in the greater region. The state with the highest average hourly earnings in the group is Texas which shows an average hourly earnings of $24.43 (16.4% larger).

Figure 7 examines the number of self employed people in the Arkansas metro area based on the number of people who reported any self employment income. Arkansas indicates it has a Self Employed of 9.9% which is in the middle range of other states in the local area. The state with the highest percentage of people self employed in the group is Texas which depicts a percentage self employed of 12.2% (22.5% 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 $58,410 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $60,778 of the total. Third, it has the smallest proportion of median income-45 to 64 years at $40,259 of the total.

Figure 9 breaks down the source of income and Arkansas has the smallest proportion of income from wages at 5.0% of the total. Second, it has the largest proportion of investment and retirement income at 9.7% 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 21.3% which is the largest of all states in the greater Arkansas region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the smallest proportion of overall family income at $70,623 of the total. Second, it has the smallest proportion of white family income at $42,736 of the total. Third, it has the smallest proportion of black family income at $49,821 of the total. Also, it has one of the largest proportions of american indian family income at $87,550 of the total and is ranked #2. The only larger state being Texas with $109,786. In addition, it has one of the largest proportions of asian family income at $39,780 of the total and is ranked #3. Only #2 Louisiana ($68,639), and #1 Texas ($71,812) are larger. Furthermore, it has the smallest proportion of hawaiian family income at $50,950 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. Arkansas depicts it has the hightest cost of 97.9 for the cost of grocery items classification.

The State of Arkansas 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 January 2010 to before the Coronavirus Pandemic the monthly unemployment rate went from 9.0% to 5.4% in March 2020. This represents a decrease in the monthly unemployment rate of 40.0%. Since that time, the monthly unemployment rate has gone to 3.6% This represents a decrease in the monthly unemployment rate of 33.3%. 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 depicts that from February 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 1,333,015 to 1,352,891 in January 2020. This represents an increase in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 1,354,610 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 Arkansas depicts it has a Unemployment Rate of 3.1% which is the third most of all other states in the surrounding region. The state with the highest unemployment rate in the group is Louisiana which shows a rate of 4.0% (28.5% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of shows it has a Labor Force Participation of 58.4% which is in the mid point range of other states in the greater region.

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). Arkansas has the largest proportion of unemployed at 41.6% 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. Arkansas depicts full time employees approximately 4.2 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 Arkansas area. Arkansas shows it has a Single Earner Families of 28.6% which is in the middle range of other states in the local area. The state with the highest families with a single earner in the group is Texas which depicts a single earners rate of 32.6% (14.2% larger). The percentage of families with no one working is depicted in Figure 22. Arkansas depicts it has a Families with No One Working of 19.8% which is the highest of all states in the greater Arkansas region.

The State of Arkansas Poverty Charts

The next section details economy analysis about poverty for residents of the Arkansas 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. Arkansas shows it has a Total In Poverty of 468,113 which is in the mid range of other states in the greater region. The state with the highest total people earning less than the poverty level in the group is Texas which shows a total people earning less than the poverty level of 3,965,117 ( 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. Arkansas depicts it has a Percent of Population In Poverty of 16.0% which is the second most of all the states in the surrounding region. The state with the highest percent of people earning less than the poverty level in the group is Louisiana which shows a percent of people in poverty of 18.8% (17.2% larger).

In Figure 25 people who are in poverty are broken out by age group. Arkansas has the smallest proportion of person in poverty under 12 years at 9% of the total. Second, it has the largest proportion of person in poverty 18 to 34 years at 19% of the total and is ranked #1. Third, it has the largest proportion of person in poverty 35 to 54 years at 11% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Arkansas has the largest proportion of black poverty rate at 21% 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.) the state of depicts it has a Public Assistance Percent of 11.9% which is in the mid point range of other states in the area. The state with the highest households with public assistance in the group is Louisiana which shows a households with public assistance of 16.3% (36.8% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of indicates it has a Gini Index of 48.0% which is the second most of all the states in the area.

The State of Arkansas 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 Arkansas 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.) Arkansas has the smallest proportion of people who drive a car or motorcycle to work at 0% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Arkansas or elsewhere.) Arkansas has the largest proportion of people who drove alone at 81% of the total and is ranked #1. Second, it has the largest proportion of people who carpooled at 10% of the total and is ranked #1. Third, it has the smallest proportion of people who take the bus at 0% of the total. Also, it has the smallest proportion of people who take the Long-distance train or commuter rail at 0% of the total. In addition, it has the smallest proportion of people who take Light rail, streetcar or trolley at 0% of the total. Furthermore, it has the smallest proportion of people who bike at 0% of the total. Next it has the smallest proportion of people who took a taxicab, motorcycle or other at 1% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Arkansas has the largest proportion of people who leave for work between 630 am to 7am at 18% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 7am to 730am at 15% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 730 am to 8am at 9% of the total. Also, it has the smallest proportion of people who leave for work between 8am to 830am at 3% of the total. In addition, it has the smallest proportion of people who leave for work between 830 am to 9am at 4% of the total. Furthermore, it has the smallest proportion of people who leave for work between 9am to 10am at 2% of the total. Next it has the largest proportion of people who leave for work between 11am to 12noon at 6% of the total and is ranked #1. Additionally, it has the largest proportion of people who leave for work between 12noon to 4pm 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. Arkansas has the largest proportion of people with commute time of less than 5 minutesutes at 13% of the total and is ranked #1. Second, it has the largest proportion of people with commute time between 5 to 9 minutes at 17% of the total and is ranked #1. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 18% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 15 to 19 minutes at 14% of the total. In addition, it has the smallest proportion of people with commute time between 20 to 24 minutes at 6% of the total. Furthermore, it has the smallest proportion of people with commute time between 25 to 29 minutes at 12% of the total. Next 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. the state of depicts it has a Avg Commute Time of 22 which is in the mid point range of other states in the greater region. Figure 38 shows the difference between male versus female commuting time. Arkansas depicts average commute time in minutes for men 28.4% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Arkansas has the largest proportion of 2 vehicles available at 23% 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.) the state of depicts it has a Work in city or place where live of 51% which is the third most people who both work and live in the same city of all other states in the greater Arkansas region. The state with the highest people who both work and live in the same city in the group is Oklahoma which depicts a people who both work and live in the same city of 56% (11.1% larger).

The State of Arkansas 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. the state of indicates it has the hightest median earnings of $76,564 for the earnings-healthcare practitioners and tech occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of depicts it has the hightest median earnings of $57,431 for the earnings-healthcare practitioners and tech occupations aggregate. The table in Figure 48, shows Arkansas employment data in terms of job categories and salary data.

The State of Arkansas 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. the state of shows it has the hightest entrepreneurs of 47% for the self employed management, business, science, and arts businesses aggregate.

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. the state of depicts it has the hightest entrepreneurs of 16% for the self employed in professional, scientific, management, administrative services aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of shows it has a Self Employment Income of $37,208 which is in the mid range of other states in the metropolitan area. The state with the highest average annual self employment income in the group is Texas which shows an average annual self employment income of $43,283 (16.3% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Arkansas depicts total number of self-employed men 78.1% larger as the total number of self-employed women.