Cave Springs Arkansas Income Charts

This section shows the Cave Springs Arkansas economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Cave Springs depicts it has a Median earnings of $80,038 which is the most of all places in the greater Cave Springs region. Comparing median earnings per worker to the United States average of $49,041, Cave Springs is 63.2% larger. Also, compared to the state of Arkansas, median earnings per worker of $40,032, Cave Springs is about twice as large.

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 $134,740 which is the largest of all places in the greater Cave Springs region. Comparing median household income to the United States average of $62,843, Cave Springs is about twice as large. Also, in contrast to the state of Arkansas, median household income of $47,597, Cave Springs is approximately 2.8 times bigger.

The next section examines a variety of different income statistics for the Cave Springs metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings less than $10,000 at 4.2% of the total. Second, it has the smallest proportion of earnings between $10,000 and $14,999 at 2.0% of the total. Third, it has the smallest proportion of earnings between $15,000 and $19,999 at 15.4% of the total. Also, it has the largest proportion of earnings between $20,000 and $49,999 at 24.0% of the total and is ranked #1. In addition, it has the largest proportion of earnings between $50,000 and $74,999 at 14.2% of the total and is ranked #1. Furthermore, it has the largest proportion of earnings between $75,000 and $99,999 at 27.8% 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 41.5 which is the second most of all the places in the local area. The city with the highest average hours in the area is Bentonville which shows an average hours of 42.0 ( 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 $37.09 which is the most of all places in the greater Cave Springs region. Comparing average hourly earnings to the United States average of $24.31, Cave Springs is 52.6% larger. Also, in comparison with the state of Arkansas, average hourly earnings of $19.54, Cave Springs is about twice as large.

Figure 7 examines the number of self employed people in the Cave Springs metro area based on the number of people who reported any self employment income. Cave Springs depicts it has a Self Employed of 13.4% which is the second most people self employed of all the places in the greater Cave Springs region. The city with the highest percentage of people self employed in the area is Highfill which depicts a percentage self employed of 18.2% (36.2% larger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $138,801 of the total and is ranked #1. Second, it has one of the largest proportions of median income-25 to 44 years at $133,417 of the total and is ranked #2. The only larger city being Elm Springs with $140,357. Third, it has the largest proportion of median income-45 to 64 years at $107,321 of the total and is ranked #1.

Figure 9 breaks down the source of income and Cave Springs has the smallest proportion of investment and retirement income at 1.9% of the total. Second, it has the smallest proportion of social security at 0.1% 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 15.4% which is the third most households with retirement income of all other places in the greater Cave Springs region. The city with the highest households with retirement income in the area is Elm Springs which indicates a households with retirement income of 22.3% (45.0% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $139,161 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. Cave Springs shows it has the hightest cost of 135.3 for the cost of housing category.

Cave Springs 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 shows that from February 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 7.7% to 2.6% in February 2020. This represents a decrease in the monthly unemployment rate of 66.2%. Since that time, the monthly unemployment rate has gone to 4.0% This represents an increase in the monthly unemployment rate of 53.8%. 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 Coronavirus Pandemic the monthly labor force participation went from 28,090 to 36,204 in February 2020. This represents an increase in the monthly labor force participation of 28.9%. Since that time, the monthly labor force participation has gone to 35,582 This represents a decrease 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 Cave Springs depicts it has a Unemployment Rate of 0.7% which is the smallest in order of unemployment rate of all the other places in the metro area. The city with the highest unemployment rate in the area is Springdale which shows a rate of 3.7% ( substantially bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Cave Springs shows it has a Labor Force Participation of 72.2% which is the third most participation rates of all other places in the greater Cave Springs 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). Cave Springs has the smallest proportion of employed at 0.7% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Cave Springs shows full time employees approximately 4.6 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 Cave Springs area. Cave Springs depicts it has a Single Earner Families of 32.4% which is the second most families with a single earner of all the places in the greater Cave Springs region. The city with the highest families with a single earner in the area is Bentonville which depicts a single earners rate of 35.9% (10.8% larger). The percentage of families with no one working is depicted in Figure 22. Cave Springs shows it has a Families with No One Working of 5.6% which is the second smallest when sorted by families with no one working of all the other places in the local area. The city with the highest families with no one working in the area is Elm Springs which depicts a families with no worker of 15.4% (approximately 2.7 times bigger).

Cave Springs Arkansas Poverty Charts

The next section details economy analysis about poverty for residents of the Cave Springs 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. Cave Springs depicts it has a Total In Poverty of 64 which is the second smallest when sorted by total people earning less than the poverty level of all the other places in the greater region. The city with the highest total people earning less than the poverty level in the area is Springdale which shows a total people earning less than the poverty level of 13,832 ( 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. Cave Springs depicts it has a Percent of Population In Poverty of 1.5% which is the smallest in order of percent of people earning less than the poverty level of all the other places in the area. The city with the highest percent of people earning less than the poverty level in the area is Springdale which depicts a percent of people in poverty of 17.6% ( very much bigger).

In Figure 25 people who are in poverty are broken out by age group. Cave Springs has the percentage of person in poverty under 12 years the second smallest as measured by person in poverty under 12 years of all the other places in the greater region at 5% 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. Third, it has the largest proportion of person in poverty 55 to 64 years at 27% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Cave Springs has the smallest proportion of highschool graduate and in poverty at 1% 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. Cave Springs has the smallest proportion of people who are in poverty and unemployed at 3.1% of the total. 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.) Cave Springs depicts it has a Public Assistance Percent of 0.8% which is the smallest when ranked by households with public assistance of all the other places in the greater region. The city with the highest households with public assistance in the area is Springdale which shows a households with public assistance of 10.8% ( substantially bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Cave Springs depicts it has a Gini Index of 36.3% which is the second smallest in order of the gini index of all the other places in the greater region.

Cave Springs Arkansas Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Cave Springs or elsewhere.) Cave Springs has the smallest proportion of people who carpooled at 5% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Cave Springs has the smallest proportion of people who leave for work between 12am to 5am at 0% of the total. Second, it has the smallest proportion of people who leave for work between 5am to 530am at 1% of the total. Third, it has the smallest proportion of people who leave for work between 530 am to 6am at 3% of the total. Also, it has the largest proportion of people who leave for work between 10am to 11am at 2% of the total and is ranked #1. In addition, it has the smallest proportion of people who leave for work between 12noon to 4pm 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. Cave Springs has the percentage of people with commute time of less than 5 minutesutes the second smallest when ranked by people with commute time of less than 5 minutes of all the other places in the surrounding region at 4% of the total. Second, it has in the mid range of other places in the local area when sorted by people with commute time between 5 to 9 minutes at 21% of the total. Third, it has the smallest proportion of people with commute time between 30 to 34 minutes at 1% of the total. Also, it has the largest proportion of people with commute time between 40 to 44 minutes at 4% of the total and is ranked #1.

The average commute time is shown in Figure 37. Cave Springs depicts it has a Avg Commute Time of 21 which is the second most average commute time of all the places in the greater Cave Springs region. Figure 38 shows the difference between male versus female commuting time. Cave Springs indicates average commute time in minutes for men about twice as large as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Cave Springs has the smallest proportion of no vehicle available at 2% of the total. Second, it has the largest proportion of 1 vehicle available at 73% of the total and is ranked #1. Third, it has the smallest proportion of 2 vehicles available at 16% of the total. Also, it has the second smallest when ranked by no vehicle available of all the other places in the area when ranked by 3 vehicles available at 6% of the total. In addition, it has the second smallest when sorted by no vehicle available of all the other places in the local area when ranked by 4 vehicles available at 2% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Cave Springs shows it has a Work in city or place where live of 13% which is the smallest in order of people who both work and live in the same city of all the other places in the surrounding region. The city with the highest people who both work and live in the same city in the area is Bentonville which depicts a people who both work and live in the same city of 66% (approximately 4.9 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Cave Springs is approximately a third the size. Also, measured against the state of Arkansas, people who both work and live in the same city of 51%, Cave Springs is approximately a quarter the size.

Cave Springs 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. Cave Springs shows it has the hightest median earnings of $250,001 for the earnings-healthcare practitioners and tech occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Cave Springs shows it has the hightest median earnings of $78,125 for the management, business, and financial occupations classification. The table in Figure 48, shows Cave Springs employment data in terms of job categories and salary data.

Cave Springs 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. Cave Springs depicts it has the hightest entrepreneurs of 67% 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. Cave Springs depicts it has the hightest entrepreneurs of 38% for the self employed in finance, insurance, real estate, rental and leasing category.

In Figure 51 the average annual self employment/entrepreneur income is shown. Cave Springs depicts it has a Self Employment Income of $51,711 which is the third most average annual self employment income of all other places in the greater Cave Springs region. The city with the highest average annual self employment income in the area is Highfill which shows an average annual self employment income of $81,391 (57.4% larger). Comparing average annual self employment income to the United States average of $39,154, Cave Springs is 32.1% larger. Also, compared to the state of Arkansas, average annual self employment income of $34,501, Cave Springs is 49.9% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Cave Springs indicates total number of self-employed men 49.3% larger as the total number of self-employed women.