Oil Trough Arkansas Income Charts

This section shows the Oil Trough Arkansas economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Oil Trough depicts it has a median earnings per worker of $55,625 which is the highest of all places in the greater Oil Trough region. Comparing median earnings per worker to the United States average of $47,712, Oil Trough is 16.6% larger. Also, measured against the state of Arkansas, median earnings per worker of $38,970, Oil Trough is 42.7% 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 $40,000 which is in the mid range of other places in the metropolitan area. The city with the highest median household income in the area is Moorefield which shows a median income of $52,500 (31.2% larger). Comparing median household income to the United States average of $60,293, Oil Trough is approximately three-fourths the size. Also, in comparison with the state of Arkansas, median household income of $45,726, Oil Trough is about 14.3% smaller.

The next section examines a variety of different income statistics for the Oil Trough metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $10,000 and $14,999 at 12.9% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $20,000 and $49,999 at 22.6% 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 39.3 which is the third most average hours of all other places in the greater Oil Trough region. The city with the highest average hours in the area is Pleasant Plains which shows an average hours of 41.9 (6.6% larger). 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 $27.22 which is more than all other places in the greater Oil Trough region. Comparing average hourly earnings to the United States average of $23.71, Oil Trough is 14.8% larger. Also, in comparison with the state of Arkansas, average hourly earnings of $19.02, Oil Trough is 43.1% larger.

Figure 7 examines the number of self employed people in the Oil Trough metro area based on the number of people who reported any self employment income. Oil Trough depicts it has a percentage of people self employed of 3.7% which is the second smallest in terms of percentage of people self employed of all the other places in the local area. The city with the highest percentage of people self employed in the area is Moorefield which depicts a percentage self employed of 35.3% ( markedly bigger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-45 to 64 years at $63,333 of the total and is ranked #2. The only larger city being Moorefield with $73,750. Second, it has one of the largest proportions of median income-65 years and over at $35,000 of the total and is ranked #2. The only larger city being Sulphur Rock with $48,333.

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 31.7% which is the most of all places in the greater Oil Trough region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the percentage of overall family income the second smallest in order of overall family income of all the other places in the local area at $43,750 of the total. Second, it has the second smallest in order of overall family income of all the other places in the greater region in order of white family income at $43,750 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Oil Trough depicts it has the hightest cost of 97.5 for the cost of grocery items grouping.

Oil Trough 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 January 2010 to before the Wuhan Coronavirus Pandemic the monthly unemployment rate went from 9.1% to 3.9% in March 2020. This represents a decrease in the monthly unemployment rate of 57.1%. Since that time, the monthly unemployment rate has gone to 7.1% This represents an increase in the monthly unemployment rate of 82.1%. 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 COVID-19 Pandemic the monthly labor force participation went from 32,582 to 40,209 in March 2020. This represents an increase in the monthly labor force participation of 23.4%. Since that time, the monthly labor force participation has gone to 39,273 This represents a decrease in the monthly labor force participation of 2.3%. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Oil Trough depicts it has a participation rate of 55.1% which is in the mid range of other places in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Oil Trough shows full time employees 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 Oil Trough area. Oil Trough indicates it has a families with a single earner of 40.0% which is the third most of all other places in the greater region. The city with the highest families with a single earner in the area is Jacksonport which shows a single earners rate of 59.0% (47.4% larger). The percentage of families with no one working is depicted in Figure 22. Oil Trough depicts it has a families with no one working of 20.0% which is in the center range of other places in the local area. The city with the highest families with no one working in the area is Sulphur Rock which depicts a families with no worker of 26.7% (33.7% larger).

Oil Trough Arkansas Poverty Charts

The next section details economy analysis about poverty for residents of the Oil Trough 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. Oil Trough shows it has a total people earning less than the poverty level of 40 which is less than most other places in the area. The city with the highest total people earning less than the poverty level in the area is Newark which shows a total people earning less than the poverty level of 269 ( quite a bit bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Oil Trough shows it has a percent of people earning less than the poverty level of 20.9% which is less than most other places in the greater region. The city with the highest percent of people earning less than the poverty level in the area is Magness which depicts a percent of people in poverty of 34.4% (64.5% larger).

In Figure 25 people who are in poverty are broken out by age group. Oil Trough has the percentage of person in poverty under 12 years in the mid point range of other places in the metro area at 25% of the total. Second, it has the second smallest as measured by person in poverty under 12 years of all the other places in the local area in terms of person in poverty 12 to 17 years at 5% of the total. Third, it has one of the largest proportions of person in poverty 18 to 34 years at 30% of the total and is ranked #2. The only larger city being Moorefield with 43%. Also, it has the largest proportion of person in poverty 55 to 64 years at 18% of the total and is ranked #1. In addition, it has the second smallest when ranked by person in poverty under 12 years of all the other places in the greater region when ranked by person in poverty 65+ years at 2% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Oil Trough has the largest proportion of american indian poverty rate at 100% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Oil Trough has the percentage of married with children and in poverty the second smallest when sorted by married with children and in poverty of all the other places in the metropolitan area at 11% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Oil Trough has the largest proportion of less than highschool in poverty at 42% of the total and is ranked #1. Second, it has the second smallest as measured by less than highschool in poverty of all the other places in the greater region when ranked by has some college and in poverty at 4% of the total. Third, it has the largest proportion of college graduate and in poverty at 60% 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. Oil Trough has the largest proportion of people who are in poverty and not in labor force at 17.5% 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.) Oil Trough shows it has a households with public assistance of 12.2% which is less than most other places in the metropolitan area. The city with the highest households with public assistance in the area is Newark which shows a households with public assistance of 22.3% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Oil Trough shows it has a the gini index of 38.9% which is the second smallest when ranked by the gini index of all the other places in the metro area.

Oil Trough Arkansas Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Oil Trough or elsewhere.) Oil Trough has the smallest proportion of people who drove alone at 79% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Oil Trough has one of the largest proportions of people who leave for work between 5am to 530am at 12% of the total and is ranked #2. The only larger city being Pleasant Plains with 19%. Second, it has the largest proportion of people who leave for work between 530 am to 6am at 14% of the total and is ranked #1. Third, it has one of the largest proportions of people who leave for work between 12noon to 4pm at 18% of the total and is ranked #2. The only larger city being Magness with 18%. Also, it has one of the largest proportions of people who leave for work between 4pm to midnight at 11% of the total and is ranked #2. The only larger city being Newark with 16%.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Oil Trough has one of the largest proportions of people with commute time of less than 5 minutesutes at 14% of the total and is ranked #2. The only larger city being Jacksonport with 20%. Second, it has the second smallest when ranked by people with commute time of less than 5 minutes of all the other places in the local area in terms of people with commute time between 10 to 14 minutes at 4% of the total. Third, it has the largest proportion of people with commute time between 30 to 34 minutes at 29% of the total and is ranked #1. Also, it has the largest proportion of people with commute time between 45 to 59 minutes at 7% of the total and is ranked #1. In addition, it has one of the largest proportions of people with commute time between 60 to 89 minutes at 11% of the total and is ranked #2. The only larger city being Pleasant Plains with 13%.

The average commute time is shown in Figure 37. Oil Trough depicts it has an average commute time of 26 which is the second most of all the places in the local area. Figure 38 shows the difference between male versus female commuting time. Oil Trough depicts average commute time in minutes for men about 8.0% smaller as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Oil Trough has the largest proportion of no vehicle available at 6% of the total and is ranked #1. Second, it has less than most other places in the area in order of 1 vehicle available at 15% of the total. Third, it has one of the largest proportions of 2 vehicles available at 42% of the total and is ranked #3. Only #2 Pleasant Plains (46%), and #1 Newark (48%) are larger. Also, it has less than most other places in the metropolitan area as measured by 3 vehicles available at 17% of the total. In addition, it has in the mid range of other places in the surrounding region as measured by 4 vehicles available at 12% of the total. Furthermore, it has the largest proportion of 5 or more vehicles available at 8% 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.) Oil Trough depicts it has a people who both work and live in the same city of 14% which is in the mid range of other places in the metropolitan area. The city with the highest people who both work and live in the same city in the area is Jacksonport which shows a people who both work and live in the same city of 23% (64.5% larger). Comparing people who both work and live in the same city to the United States average of 42%, Oil Trough 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%, Oil Trough is approximately a third the size.

Oil Trough 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. Oil Trough depicts it has the hightest median earnings of $73,125 for the earnings-natural resources, construction, maintenance occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Oil Trough depicts it has the hightest median earnings of $54,063 for the earnings-healthcare practitioners and tech occupations grouping. The table in Figure 48, shows Oil Trough employment data in terms of job categories and salary data.

Oil Trough 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. Oil Trough depicts it has the hightest entrepreneurs of 67% 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. Oil Trough depicts it has the hightest entrepreneurs of 67% for the self employed in agriculture, forestry, fishing and hunting, and mining group.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Oil Trough depicts total number of self-employed men 50.0% larger as the total number of self-employed women.