Bedford township Arkansas Income Charts

This section shows the Bedford township Arkansas economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Bedford township depicts it has a median earnings per worker of $42,784 which is ranked #1 of all places in the metropolitan area. Comparing median earnings per worker to the United States average of $47,712, Bedford township is about 11.5% smaller. Also, compared with the state of Arkansas, median earnings per worker of $38,970, Bedford township is 9.8% 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 $44,583 which is the third most median income of all other places in the greater Bedford township region. The city with the highest median household income in the area is Cherry Valley which depicts a median income of $50,096 (12.4% larger). Comparing median household income to the United States average of $60,293, Bedford township is approximately three-fourths the size. Also, compared to the state of Arkansas, median household income of $45,726, Bedford township is only about 2.6% smaller.

The next section examines a variety of different income statistics for the Bedford township metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings less than $10,000 at 12.3% of the total. Second, it has the largest proportion of earnings of $100,000 more at 12.6% 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 an average hours of 42.7 which is the largest of all places in the greater region. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has an average hourly earnings of $19.27 which is the highest of all places in the greater Bedford township region. Comparing average hourly earnings to the United States average of $23.71, Bedford township is about 23.0% smaller. Also, versus the state of Arkansas, average hourly earnings of $19.02, Bedford township is only slightly larger.

Figure 7 examines the number of self employed people in the Bedford township metro area based on the number of people who reported any self employment income. Bedford township shows it has a percentage of people self employed of 15.7% which is the second most people self employed of all the places in the greater Bedford township region. The city with the highest percentage of people self employed in the area is Hickory Ridge which depicts a percentage self employed of 16.0% ( only slightly larger).

Figure 9 breaks down the source of income and Bedford township has the largest proportion of income from wages at 100.0% 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 households with retirement income of 5.4% which is the smallest when sorted by households with retirement income of all the other places in the local area. The city with the highest households with retirement income in the area is Caldwell which depicts a households with retirement income of 30.2% ( very much bigger).

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Bedford township shows it has the hightest cost of 97.5 for the cost of grocery items category.

Bedford township 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 February 2006 to before the Wuhan Coronavirus/COVID 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 6.9% This represents an increase in the monthly unemployment rate of 97.1%. 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 Coronavirus Pandemic the monthly labor force participation went from 11,278 to 10,611 in November 2019. This represents a decrease in the monthly labor force participation of 5.9%. Since that time, the monthly labor force participation has gone to 10,611 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 Bedford township shows it has an unemployment rate of 6.7% which is is the uppermost of the places in the greater Bedford township region. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Bedford township shows it has a participation rate of 89.8% which is ranked #1 of all places in the greater Bedford township 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). Bedford township has the largest proportion of employed at 83.0% of the total and is ranked #1. Second, it has the largest proportion of unemployed at 6.7% of the total and is ranked #1. Third, it has the smallest proportion of not in labor force at 10.2% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Bedford township shows full time employees markedly bigger as the part time employees. The percentage of families with no one working is depicted in Figure 22. Bedford township shows it has a families with no one working of 14.3% which is the second smallest when ranked by families with no one working of all the other places in the metro area. The city with the highest families with no one working in the area is Caldwell which depicts a families with no worker of 42.0% (approximately 2.9 times bigger).

Bedford township Arkansas Poverty Charts

The next section details economy analysis about poverty for residents of the Bedford township 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. Bedford township shows it has a total people earning less than the poverty level of 117 which is in the middle range of other places in the area. The city with the highest total people earning less than the poverty level in the area is Forrest City which depicts a total people earning less than the poverty level of 3,436 ( considerably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Bedford township depicts it has a percent of people earning less than the poverty level of 22.1% which is in the center range of other places in the area. The city with the highest percent of people earning less than the poverty level in the area is Forrest City which shows a percent of people in poverty of 31.4% (42.1% larger).

In Figure 25 people who are in poverty are broken out by age group. Bedford township has the largest proportion of person in poverty under 12 years at 61% of the total and is ranked #1. Second, it has one of the largest proportions of person in poverty 18 to 34 years at 34% of the total and is ranked #2. The only larger city being Hickory Ridge with 55%. Third, it has the smallest proportion of person in poverty 35 to 54 years at 5% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Bedford township has the largest proportion of unmarried with children and in poverty at 63% of the total and is ranked #1. Second, it has one of the largest proportions of unmarried female with children and in poverty at 86% of the total and is ranked #2. The only larger city being Hickory Ridge with 100%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Bedford township has the percentage of less than highschool in poverty less than most other places in the metro area at 21% 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. Bedford township has the largest proportion of people who are in poverty and employed at 34.2% 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.) Bedford township shows it has a households with public assistance of 18.1% which is the second most households with public assistance of all the places in the greater Bedford township region. The city with the highest households with public assistance in the area is Forrest City which depicts a households with public assistance of 29.6% (63.5% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Bedford township depicts it has a the gini index of 45.6% which is the third most of all other places in the local area.

Bedford township 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 Bedford township 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.) Bedford township has the largest proportion of people who drive a car or motorcycle to work at 100% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Bedford township or elsewhere.) Bedford township has the largest proportion of people who drove alone at 92% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Bedford township has the smallest proportion of people who leave for work between 5am to 530am at 2% of the total. Second, it has the largest proportion of people who leave for work between 12noon to 4pm at 22% 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. Bedford township has one of the largest proportions of people with commute time between 5 to 9 minutes at 10% of the total and is ranked #3. Only #2 Wynne (26%), and #1 Forrest City (32%) are larger. Second, it has the largest proportion of people with commute time between 10 to 14 minutes at 35% of the total and is ranked #1. Third, it has one of the largest proportions of people with commute time between 15 to 19 minutes at 38% of the total and is ranked #2. The only larger city being Colt with 49%. Also, it has the smallest proportion of people with commute time between 60 to 89 minutes at 3% of the total.

The average commute time is shown in Figure 37. Bedford township shows it has an average commute time of 16 which is the smallest when ranked by average commute time of all the other places in the area. Figure 38 shows the difference between male versus female commuting time. Bedford township depicts average commute time in minutes for men 48.5% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Bedford township has the largest proportion of no vehicle available at 8% of the total and is ranked #1. Second, it has the smallest proportion of 1 vehicle available at 14% of the total. Third, it has the smallest proportion of 2 vehicles available at 34% of the total. Also, it has the smallest proportion of 3 vehicles available at 6% of the total. In addition, it has the largest proportion of 4 vehicles available at 31% of the total and is ranked #1. Furthermore, it has the largest proportion of 5 or more vehicles available at 7% of the total and is ranked #1.

Bedford township 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. Bedford township depicts it has the hightest median earnings of $51,250 for the earnings-production, transportation, material moving occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Bedford township shows it has the hightest median earnings of $17,448 for the earnings-sales and office occupations group. The table in Figure 48, shows Bedford township employment data in terms of job categories and salary data.

Bedford township 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. Bedford township indicates it has the hightest entrepreneurs of 100% for the self employed in production, transportation, and material moving 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. Bedford township shows it has the hightest entrepreneurs of 100% for the self employed in transportation, warehousing, and utilities category.