Izard County Income Charts

This section shows the Izard County Arkansas economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Izard County shows it has a Median earnings of $34,005 which is less than most other counties in the local area. The county with the highest median earnings per worker in the area is Cleburne County which shows a median earnings of $36,802 (8.2% larger). Comparing median earnings per worker to the United States average of $50,459, Izard County is approximately three-fourths the size. Also, compared with the state of Arkansas, median earnings per worker of $41,104, Izard County is about 20.9% 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 $42,818 which is in the mid point range of other counties in the metro area. The county with the highest median household income in the area is Independence County which shows a median income of $48,972 (14.4% larger). Comparing median household income to the United States average of $64,994, Izard County is approximately three-fourths the size. Also, versus the state of Arkansas, median household income of $49,475, Izard County is about 15.5% smaller.

The next section examines a variety of different income statistics for the Izard County metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 the second smallest when ranked by median earnings of less than $10,000 of all the other counties in the metro area at 6.2% of the total. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 14.2% 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 39.7 which is the second most of all the counties in the area. The county with the highest average hours in the area is Fulton County which shows an average hours of 40.6 ( 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 $16.47 which is less than most other counties in the surrounding region. The county with the highest average hourly earnings in the area is Cleburne County which depicts an average hourly earnings of $18.19 (10.5% larger). Comparing average hourly earnings to the United States average of $25.01, Izard County is approximately three-fourths the size. Also, measured against the state of Arkansas, average hourly earnings of $20.01, Izard County is about 21.5% 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 Self Employed of 8.9% which is the second smallest when ranked 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 depicts a percentage self employed of 14.2% (59.4% larger).

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 greater region at $48,491 of the total. Second, it has one of the largest proportions of median income-25 to 44 years at $49,970 of the total and is ranked #3. Only #2 Cleburne County ($50,158), and #1 Fulton County ($54,750) are larger. Third, it has in the mid range of other counties in the greater region in terms of median income-45 to 64 years at $34,648 of the total.

Figure 9 breaks down the source of income and Izard County has the smallest proportion of income from wages at 2.0% of the total. Second, it has the largest proportion of self employment income at 24.9% 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 31.0% 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 indicates a households with retirement income of 33.9% (9.2% 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 $53,252 of the total and is ranked #3. Only #2 Cleburne County ($57,139), and #1 Independence County ($57,398) are larger.

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 aggregate.

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 depicts that from January 2010 to before the disasterous Covid-19 virus Pandemic the monthly unemployment rate went from 11.7% to 9.4% in March 2020. This represents a decrease in the monthly unemployment rate of 19.7%. Since that time, the monthly unemployment rate has gone to 4.8% This represents a decrease in the monthly unemployment rate of 48.9%. 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. . It depicts that from January 2010 to before the Wuhan virus Pandemic the monthly labor force participation went from 5,016 to 4,886 in March 2020. This represents a decrease in the monthly labor force participation of 2.6%. Since that time, the monthly labor force participation has gone to 4,305 This represents a decrease in the monthly labor force participation of 11.9%.

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 depicts it has a Unemployment Rate of 4.5% which is more than 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 Labor Force Participation of 41.9% which is the smallest as measured by participation rate of all the 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 employed at 4.5% of the total and is ranked #1. Second, it has the largest proportion of unemployed at 58.1% 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 3.4 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 Single Earner Families of 25.2% which is less than most other counties in the greater region. The county with the highest families with a single earner in the area is Stone County which depicts a single earners rate of 31.8% (26.0% larger). The percentage of families with no one working is depicted in Figure 22. Izard County depicts it has a Families with No One Working of 35.4% which is the third most families with no one working of all other counties in the greater Izard County region. The county with the highest families with no one working in the area is Baxter County which shows a families with no worker of 39.2% (10.8% 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 shows it has a Total In Poverty of 1,910 which is the smallest when sorted by total people earning less than the poverty level of all the other counties in the greater region. The county with the highest total people earning less than the poverty level in the area is Independence County which depicts a total people earning less than the poverty level of 5,544 (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 Population In Poverty of 15.2% which is in the mid point range of other counties in the local area. 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 20.8% (36.5% larger).

In Figure 25 people who are in poverty are broken out by age group. Izard County has the smallest proportion of person in poverty 12 to 17 years at 17% of the total. Second, it has the smallest proportion of person in poverty 18 to 34 years at 15% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Izard County has the largest proportion of black poverty rate at 71% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Izard County has one of the largest proportions of married with children and in poverty at 52% of the total and is ranked #3. Only #2 Sharp County (52%), and #1 Fulton County (61%) are larger. Second, it has one of the largest proportions of unmarried with children and in poverty at 57% of the total and is ranked #2. The only larger county being Sharp County with 63%. Third, it has one of the largest proportions of unmarried female with children and in poverty at 38% of the total and is ranked #2. The only larger county being Fulton County with 80%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Izard County has the smallest proportion of less than highschool in poverty at 10% 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 10.4% 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 depicts it has a Public Assistance Percent of 11.5% which is in the mid range of other counties in the metro area. The county with the highest households with public assistance in the area is Stone County which shows a households with public assistance of 24.2% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Izard County shows it has a Gini Index of 45.4% which is less than most other counties in the metro 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 smallest proportion of people who bicycle or walk to work 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 13% of the total and is ranked #1. Second, it has the largest proportion of people who took a taxicab, motorcycle or other at 4% of the total and is ranked #1. Third, it has the smallest proportion of people who work from 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 8am to 830am at 2% of the total. Second, it has the smallest proportion of people who leave for work between 9am to 10am at 1% of the total. Third, it has the largest proportion of people who leave for work between 11am to 12noon at 9% 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 percentage of people with commute time between 5 to 9 minutes the second smallest when ranked by people with commute time of less than 5 minutes of all the other counties in the surrounding region at 12% of the total. Second, it has the second smallest in order of people with commute time of less than 5 minutes of all the other counties in the surrounding region in terms of people with commute time between 10 to 14 minutes at 8% of the total. Third, it has the largest proportion of people with commute time between 30 to 34 minutes at 5% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 60 to 89 minutes at 1% of the total.

The average commute time is shown in Figure 37. Izard County shows it has a Avg Commute Time of 19 which is less than most other counties in the area. Figure 38 shows the difference between male versus female commuting time. Izard County depicts average commute time in minutes for men about 14.7% 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 no vehicle available less than most other counties in the surrounding region at 13% of the total. Second, it has less than most other counties in the greater region in order of 1 vehicle available at 36% of the total. Third, it has the smallest proportion of 2 vehicles available at 21% of the total. Also, it has the largest proportion of 3 vehicles available at 22% of the total and is ranked #1. In addition, it has in the middle range of other counties in the metro area as measured by 4 vehicles available at 8% of the total. 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 Work in city or place where live of 34% which is the second smallest when ranked by people who both work and live in the same city of all the other counties in the local area. The county with the highest people who both work and live in the same city in the area is Stone County which depicts a people who both work and live in the same city of 59% (76.4% larger). Comparing people who both work and live in the same city to the United States average of 43%, Izard County is approximately three-fourths the size. Also, compared with the state of Arkansas, people who both work and live in the same city of 51%, Izard County is approximately three-fourths the size.

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 $56,339 for the earnings-education, legal, community service, arts, media occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Izard County shows it has the hightest median earnings of $49,167 for the management, business, and financial 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 depicts it has the hightest entrepreneurs of 66% for the self employed management, business, science, and arts businesses classification.

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 shows it has the hightest entrepreneurs of 41% for the self employed in agriculture, forestry, fishing and hunting, and mining aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Izard County depicts it has a Self Employment Income of $12,619 which is the smallest when sorted by average annual self employment income of all the other counties in the metro 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 $36,621 (approximately 2.9 times bigger). Comparing average annual self employment income to the United States average of $40,101, Izard County is approximately a third the size. Also, benchmarked against the state of Arkansas, average annual self employment income of $36,313, Izard County is approximately a third the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Izard County depicts total number of self-employed men approximately 2.3 times bigger as the total number of self-employed women.