Izard County Income Charts

This section shows the Izard County Arkansas economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Izard County depicts it has a median earnings per worker of $32,534 which is the second smallest in terms of median earnings per worker of all the other counties in the area. The county with the highest median earnings per worker in the area is Independence County which shows a median earnings of $34,768 (6.9% larger). Comparing median earnings per worker to the United States average of $47,712, Izard County is approximately three-fourths the size. Also, measured against the state of Arkansas, median earnings per worker of $38,970, Izard County is about 19.8% smaller.

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 $40,218 which is in the mid range of other counties in the greater region. The county with the highest median household income in the area is Independence County which shows a median income of $43,523 (8.2% larger). Comparing median household income to the United States average of $60,293, Izard County is approximately three-fourths the size. Also, versus the state of Arkansas, median household income of $45,726, Izard County is about 13.7% smaller.

The next section examines a variety of different income statistics for the Izard County metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 23.4% of the total and is ranked #1. Second, it has the smallest proportion of earnings of $100,000 more at 2.0% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has an average hours of 40.6 which is the largest of all counties in the surrounding 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 $15.41 which is the smallest in terms of average hourly earnings of all the other counties in the metro area. The county with the highest average hourly earnings in the area is Baxter County which depicts an average hourly earnings of $17.28 (12.1% larger). Comparing average hourly earnings to the United States average of $23.71, Izard County is approximately three-fourths the size. Also, benchmarked against the state of Arkansas, average hourly earnings of $19.02, Izard County is about 23.4% smaller.

Figure 7 examines the number of self employed people in the Izard County metro area based on the number of people who reported any self employment income. Izard County depicts it has a percentage of people self employed of 8.3% which is the smallest when sorted by percentage of people self employed of all the other counties in the greater region. The county with the highest percentage of people self employed in the area is Stone County which shows a percentage self employed of 17.2% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years less than most other counties in the area at $24,875 of the total. Second, it has the second smallest in terms of median income for those under 25 years of age of all the other counties in the metro area when ranked by median income-25 to 44 years at $42,401 of the total. Third, it has less than most other counties in the local area as measured by median income-45 to 64 years at $42,177 of the total. Also, it has one of the largest proportions of median income-65 years and over at $35,594 of the total and is ranked #3. Only #2 Cleburne County ($36,786), and #1 Baxter County ($37,082) are larger.

Figure 9 breaks down the source of income and Izard County has the smallest proportion of self employment income at 3.1% of the total. Second, it has the largest proportion of investment and retirement income at 22.5% 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 29.1% which is the second most of all the counties in the local area. The county with the highest households with retirement income in the area is Baxter County which shows a households with retirement income of 29.5% ( only slightly larger).

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 $50,777 of the total and is ranked #3. Only #2 Independence County ($53,056), and #1 Cleburne County ($53,136) are larger. Second, it has one of the largest proportions of white family income at $50,938 of the total and is ranked #3. Only #2 Independence County ($54,031), and #1 Cleburne County ($54,113) are larger. Third, it has the largest proportion of hispanic family income at $85,694 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. Izard County depicts it has the hightest cost of 99.4 for the cost of transportation category.

Izard County 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 January 2010 to before the disasterous COVID Pandemic the monthly unemployment rate went from 11.7% to 8.2% in March 2020. This represents a decrease in the monthly unemployment rate of 29.9%. Since that time, the monthly unemployment rate has gone to 9.1% This represents an increase in the monthly unemployment rate of 11.0%. 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 January 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 5,016 to 5,027 in March 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 4,738 This represents a decrease in the monthly labor force participation of 5.7%.

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 Izard County shows it has an unemployment rate of 4.2% which is at the top of all other counties in the greater Izard County region. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Izard County shows it has a participation rate of 45.2% which is less than most other counties 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). Izard County has the largest proportion of unemployed at 4.2% 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. Izard County shows full time employees approximately 4.0 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 Izard County area. Izard County depicts it has a families with a single earner of 24.2% which is the second smallest in terms of families with a single earner of all the other counties in the local area. The county with the highest families with a single earner in the area is Stone County which shows a single earners rate of 33.2% (37.0% larger). The percentage of families with no one working is depicted in Figure 22. Izard County shows it has a families with no one working of 33.3% which is in the mid range of other counties in the greater region. The county with the highest families with no one working in the area is Baxter County which depicts a families with no worker of 36.5% (9.6% larger).

Izard County Poverty Charts

The next section details economy analysis about poverty for residents of the Izard County 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. Izard County depicts it has a total people earning less than the poverty level of 2,156 which is the smallest as measured by total people earning less than the poverty level of all the other counties in the local area. The county with the highest total people earning less than the poverty level in the area is Independence County which shows a total people earning less than the poverty level of 6,254 (approximately 2.9 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Izard County depicts it has a percent of people earning less than the poverty level of 17.1% which is less than most other counties in the surrounding region. The county with the highest percent of people earning less than the poverty level in the area is Fulton County which shows a percent of people in poverty of 23.9% (40.2% larger).

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Izard County has one of the largest proportions of american indian poverty rate at 63% of the total and is ranked #2. The only larger county being Independence County with 75%. Second, it has the smallest proportion of hispanicp poverty rate at 2% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Izard County has one of the largest proportions of unmarried with children and in poverty at 61% of the total and is ranked #2. The only larger county being Fulton County with 68%. Second, it has the largest proportion of unmarried female with children and in poverty at 88% of the total and is ranked #1. Third, it has the second smallest when sorted by married with children and in poverty of all the other counties in the greater region in terms of unmarried male with children and in poverty 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. Izard County has the smallest proportion of people who are in poverty and unemployed at 1.5% 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.) Izard County shows it has a households with public assistance of 13.2% which is in the middle range of other counties in the local area. The county with the highest households with public assistance in the area is Sharp County which depicts a households with public assistance of 18.7% (41.8% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Izard County depicts it has a the gini index of 42.6% which is the smallest when sorted by the gini index of all the other counties in the area.

Izard County 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 Izard County 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.) Izard County has the largest proportion of people who drive a car or motorcycle to work at 96% of the total and is ranked #1. Second, it has the smallest proportion of people who work at home at 2% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Izard County or elsewhere.) Izard County has the largest proportion of people who carpooled at 16% of the total and is ranked #1. Second, it has the smallest proportion of people who work at home at 2% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Izard County has the smallest proportion of people who leave for work between 630 am to 7am at 7% of the total. Second, it has the smallest proportion of people who leave for work between 830 am to 9am at 2% of the total. Third, it has the largest proportion of people who leave for work between 12noon to 4pm at 10% 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. Izard County has the largest proportion of people with commute time of less than 5 minutesutes at 20% of the total and is ranked #1. Second, it has the smallest proportion of people with commute time between 10 to 14 minutes at 10% of the total. Third, it has the smallest proportion of people with commute time between 15 to 19 minutes at 11% of the total. Also, it has the largest proportion of people with commute time between 35 to 39 minutes at 4% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 60 to 89 minutes at 7% of the total and is ranked #1. Furthermore, it has the second smallest in terms of people with commute time of less than 5 minutes of all the other counties in the local area in order of people with commute time of 90 or more minutesutes at 1% of the total.

The average commute time is shown in Figure 37. Izard County depicts it has an average commute time of 20 which is less than most other counties in the metro area. Figure 38 shows the difference between male versus female commuting time. Izard County depicts average commute time in minutes for men only about 3.6% smaller as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Izard County has the percentage of 2 vehicles available the second smallest when sorted by no vehicle available of all the other counties in the local area at 34% of the total. Second, it has the largest proportion of 4 vehicles available at 18% 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.) Izard County shows it has a people who both work and live in the same city of 43% which is less than most other counties in the metro area. The county with the highest people who both work and live in the same city in the area is Stone County which shows a people who both work and live in the same city of 69% (59.7% larger). Comparing people who both work and live in the same city to the United States average of 42%, Izard County is only about 2.8% larger. Also, compared to the state of Arkansas, people who both work and live in the same city of 51%, Izard County is about 18.7% smaller.

Izard County 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. Izard County shows it has the hightest median earnings of $102,981 for the earnings-computer, engineering, and science occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Izard County shows it has the hightest median earnings of $42,333 for the earnings-education, legal, community service, arts, media occupations group. The table in Figure 48, shows Izard County employment data in terms of job categories and salary data.

Izard County 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. Izard County shows it has the hightest entrepreneurs of 76% 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. Izard County indicates it has the hightest entrepreneurs of 27% for the self employed in finance, insurance, real estate, rental and leasing grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Izard County depicts it has an average annual self employment income of $19,101 which is the smallest when sorted by average annual self employment income of all the other counties in the local area. The county with the highest average annual self employment income in the area is Independence County which depicts an average annual self employment income of $34,084 (78.4% larger). Comparing average annual self employment income to the United States average of $37,819, Izard County is approximately half the size. Also, in contrast to the state of Arkansas, average annual self employment income of $33,965, Izard County is approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Izard County shows total number of self-employed men approximately 2.4 times bigger as the total number of self-employed women.