Cave Springs Arkansas Income Charts

This section shows the economic outlook and local economy using the most recent economic data from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker. Cave Springs shows it has $74,063 median earnings which is ranked #1 of all places in the area . Comparing median earnings to the United States average of $47,712, Cave Springs compares as 55.2% larger. Also, measured against the state of Arkansas, median earnings of $38,970, Cave Springs compares as about twice as large.

In Figure 2 we see a more complete view of income which includes all members in a household using the median household income and it has $114,286 median income which is the most of all places in the area . Comparing median income to the United States average of $60,293, Cave Springs is about twice as large. Also, measured against the state of Arkansas, median income of $45,726, Cave Springs is approximately 2.5 times bigger.

The next section examines a variety of different income statistics. In Figure 3 we see that it has the largest proportion of median earnings of less than $10,000 at 14.6% of the total and is ranked #1. Second, it has the largest proportion of median earnings between $50,000 and $74,999 at 22.1% of the total and is ranked #1. Also, it has the largest proportion of median earnings between $75,000 and $99,999 at 13.1% of the total and is ranked #1. In addition, it has the largest proportion of median earnings of $100,000 or more at 24.1% 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 41.4 average hours which is the 2nd most of all the places in the area . The city with the highest average hours in the area is Township 4-Benton County with an average hours of 42.1 measures 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 $34.40 average hourly earnings which is the highest of all places in the area . Comparing average hourly earnings to the United States average of $23.71, Cave Springs compares as 45.1% larger. Also, benchmarked against the state of Arkansas, average hourly earnings of $19.02, Cave Springs is about twice as large.

Figure 7 examines the number of self employed people in the area based on the number of people who reported any self employment income. Cave Springs shows it has 12.3% Self Employed which is the 4th ranked in Self Employed out of 10 total in the area . The city with the highest Self Employed in the area is Highfill with a Self Employed of 17.2% is 39.3% larger.

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of Median Income for those under 25 years of age at $69,688 of the total and is ranked #1. Second, it has the largest proportion of Median Income-25 to 44 years at $126,528 of the total and is ranked #1. Also, it has the largest proportion of Median Income-65 years and over at $82,917 of the total and is ranked #1.

In terms of the source of where income comes from, in Figure 9 Cave Springs has the largest proportion of income from wages at 88.7% 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 14.0% households with retirement income which is the 3d most of all other places in the area . The city with the highest households with retirement income in the area is Highfill with a households with retirement income of 17.2% is 22.5% 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 $118,500 of the total and is ranked #1. Second, it has the largest proportion of White Family Income at $119,438 of the total and is ranked #1. Also, it has the largest proportion of Asian Family Income at $250,001 of the total and is ranked #1.

Figure 13 shows the cost of living for a variety of cost components from the Bureau of Labor Statistics. Cave Springs indicates it has hightest cost of 142.0 for cost of housing.

Cave Springs Arkansas Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data from 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 measure for the United States. It shows that from February 2010 to April 2020 the Monthly Unemployment Rate went from 7.7% to 8.0%. This represents an increase in the Monthly Unemployment Rate of 3.9%. 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. The participation level It illustrates that from February 2010 to April 2020 the Monthly Labor Force Participation went from 28,090 to 34,136. This represents an increase in the Monthly Labor Force Participation of 21.5%.

The next two charts look at the annual unemployment rate and is based on the American Community survey. Figure 16 shows Cave Springs illustrates it has 1.0% unemployment rate which is the 4th smallest unemployment rate of all the other places in the area . The city with the highest unemployment rate in the area is Rogers with a rate of 1.9% is about twice as large. 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 70.0% participation rate which is the 4th ranked in participation rate out of 10 total in the area .

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Cave Springs shows full time employees compares as approximately 4.2 times bigger than 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. Cave Springs shows it has 32.3% families with a single earner which is the highest of all places in the area . The percentage of families with no one working is depicted in Figure 22. Cave Springs shows it has 7.3% families with no one working which is the 5th ranked in families with no one working out of 10 total in the area . The city with the highest families with no one working in the area is Elm Springs with a families with no worker of 16.5% is approximately 2.3 times bigger.

Cave Springs Arkansas Poverty Charts

The next section details information about poverty in the area. In Figure 23 the total number of people earning less than the poverty level are shown. Cave Springs indicates it has 102 total people earning less than the poverty level which is the 4th smallest total people earning less than the poverty level of all the other places in the area . The city with the highest total people earning less than the poverty level in the area is Rogers with a total people earning less than the poverty level of 6,829 measures substantially 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 shows it has 2.6% percent of people earning less than the poverty level which is the 4th smallest 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 Highfill with a percent of people in poverty of 15.9% measures substantially bigger.

In Figure 25 people who are in poverty are broken out by age group. Cave Springs has the largest proportion of person in poverty 55 to 64 years at 17% of the total and is ranked #1. Second, it has the largest proportion of person in poverty 65+ years at 30% of the total and is ranked #1.

Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. We see that Cave Springs has the largest proportion of people who are in poverty and employed at 26.5% 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.) We can see that Cave Springs shows it has 1.3% households with public assistance which is the 4th smallest households with public assistance of all the other places in the area . The city with the highest households with public assistance in the area is Township 3-Benton County with a households with public assistance of 9.5% is very much bigger.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Cave Springs shows it has 39.8% the Gini Index which is the 5th ranked in the Gini Index out of 10 total in the area .

Cave Springs Arkansas Work Commute Charts

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Cave Springs has people with commute time between 10 to 14 minutes less than most other places in the area at 21% of the total and is ranked 3d last in the group. Second, it has the largest proportion of people with commute time between 20 to 24 minutes at 25% of the total and is ranked #1.

The average commute time is shown in Figure 37. Cave Springs shows it has 19 average commute time which is the 3d most of all other places in the area . Figure 38 shows the difference between male versus female commuting time and Cave Springs shows average commute time in minutes for men is 67.0% larger than average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Cave Springs has the largest proportion of 2 vehicles available at 65% 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.) Cave Springs shows it has 11% people who both work and live in the same city which is the 4th smallest people who both work and live in the same city of all the other places in the area . The city with the highest people who both work and live in the same city in the area is Rogers with a people who both work and live in the same city of 51% is approximately 4.5 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, compared with the state of Arkansas, people who both work and live in the same city of 51%, Cave Springs is approximately a fifth 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 hightest median earnings of $111,875 for Management, business, and financial occupations. Similarly, Figure 47 shows the median earnings of women for the job categories and Cave Springs shows it has hightest median earnings of $72,639 for Earnings-Sales and office occupations.

Cave Springs Arkansas Self Employment Charts

Figure 49 shows the number of people who are self employed in incorporated businesses by industry. Cave Springs shows it has hightest entrepreneurs of 54% for self employed in sales and office related businesses.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories. Cave Springs shows it has hightest entrepreneurs of 35% for self employed in finance, insurance, real estate, rental and leasing.

In Figure 51 the average annual self employment income is shown. Cave Springs shows it has $16,446 average annual self employment income which is the 4th smallest average annual self employment income of all the other places in the area . The city with the highest average annual self employment income in the area is Highfill with an average annual self employment income of $75,955 measures approximately 4.6 times bigger. Comparing average annual self employment income to the United States average of $37,819, Cave Springs compares as approximately half the size. Also, compared with the state of Arkansas, average annual self employment income of $33,965, Cave Springs measures approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women. Cave Springs reveals total number of self-employed men measures about twice as large than total number of self-employed women.