Canton Valley CDP Connecticut Income Charts

This section shows the Canton Valley CDP Connecticut economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Canton Valley CDP depicts it has a median earnings per worker of $55,089 which is less than most other places in the metro area. The place with the highest median earnings per worker in the area is West Simsbury CDP which depicts a median earnings of $101,250 (about twice as large). Comparing median earnings per worker to the United States average of $47,712, Canton Valley CDP is 15.5% larger. Also, compared to the state of Connecticut, median earnings per worker of $60,678, Canton Valley CDP is about 10.1% 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 $67,750 which is the second smallest in order of median household income of all the other places in the local area. The place with the highest median household income in the area is West Simsbury CDP which shows a median income of $146,667 (about twice as large). Comparing median household income to the United States average of $60,293, Canton Valley CDP is 12.4% larger. Also, benchmarked against the state of Connecticut, median household income of $76,106, Canton Valley CDP is about 12.3% smaller.

The next section examines a variety of different income statistics for the Canton Valley CDP 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 places in the surrounding region at 11.8% of the total. Second, it has the largest proportion of earnings between $20,000 and $49,999 at 36.8% of the total and is ranked #1. Third, it has the largest proportion of earnings between $75,000 and $99,999 at 19.7% of the total and is ranked #1. Also, it has less than most other places in the local area when ranked by earnings of $100,000 more at 10.5% 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 more than all other places in the greater Canton Valley CDP 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 $26.09 which is less than most other places in the metro area. The place with the highest average hourly earnings in the area is West Simsbury CDP which shows an average hourly earnings of $48.68 (about twice as large). Comparing average hourly earnings to the United States average of $23.71, Canton Valley CDP is 10.1% larger. Also, in comparison with the state of Connecticut, average hourly earnings of $30.63, Canton Valley CDP is about 17.4% smaller.

Figure 7 examines the number of self employed people in the Canton Valley CDP metro area based on the number of people who reported any self employment income. Canton Valley CDP shows it has a percentage of people self employed of 10.1% which is the smallest in order of percentage of people self employed of all the other places in the metropolitan area. The place with the highest percentage of people self employed in the area is New Hartford Center CDP which shows a percentage self employed of 19.2% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-25 to 44 years in the mid range of other places in the metro area at $95,647 of the total.

Figure 9 breaks down the source of income and Canton Valley CDP has the smallest proportion of income from wages at 50.3% of the total. Second, it has the largest proportion of investment and retirement income at 35.1% of the total and is ranked #1. Third, it has the largest proportion of social security at 7.8% 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 23.9% which is the second most households with retirement income of all the places in the greater Canton Valley CDP region. The place with the highest households with retirement income in the area is West Simsbury CDP which depicts a households with retirement income of 26.7% (11.7% larger).

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 $71,992 of the total. Second, it has the second smallest in order of overall family income of all the other places in the local area in order of white family income at $72,266 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. Canton Valley CDP shows it has the hightest cost of 120.7 for the cost of grocery items classification.

Canton Valley CDP Connecticut 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 Pandemic the monthly unemployment rate went from 8.4% to 2.6% in March 2020. This represents a decrease in the monthly unemployment rate of 69.0%. Since that time, the monthly unemployment rate has gone to 5.0% This represents an increase in the monthly unemployment rate of 92.3%. 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 5,641 to 5,849 in March 2020. This represents an increase in the monthly labor force participation of 3.7%. Since that time, the monthly labor force participation has gone to 5,713 This represents a decrease in the monthly labor force participation of 2.3%.

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 Canton Valley CDP shows it has an unemployment rate of 0.5% which is the smallest as measured by unemployment rate of all the other places in the metro area. The place with the highest unemployment rate in the area is New Hartford Center CDP which indicates a rate of 7.7% ( considerably bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Canton Valley CDP indicates it has a participation rate of 65.4% which is less than most other places 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). Canton Valley CDP has the smallest proportion of unemployed at 0.5% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Canton Valley CDP depicts full time employees approximately 4.7 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 Canton Valley CDP area. Canton Valley CDP shows it has a families with a single earner of 14.9% which is the smallest in order of families with a single earner of all the other places in the metropolitan area. The place with the highest families with a single earner in the area is West Simsbury CDP which shows a single earners rate of 34.9% (approximately 2.3 times bigger). The percentage of families with no one working is depicted in Figure 22. Canton Valley CDP depicts it has a families with no one working of 32.0% which is the highest of all places in the metro area.

Canton Valley CDP Connecticut Poverty Charts

The next section details economy analysis about poverty for residents of the Canton Valley CDP 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. Canton Valley CDP shows it has a total people earning less than the poverty level of 75 which is the second smallest as measured by total people earning less than the poverty level of all the other places in the local area. The place with the highest total people earning less than the poverty level in the area is Simsbury Center CDP which depicts a total people earning less than the poverty level of 314 (approximately 4.2 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Canton Valley CDP depicts it has a percent of people earning less than the poverty level of 4.9% which is less than most other places in the local area. The place with the highest percent of people earning less than the poverty level in the area is New Hartford Center CDP which depicts a percent of people in poverty of 13.1% (approximately 2.7 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Canton Valley CDP has the largest proportion of person in poverty 18 to 34 years at 88% of the total and is ranked #1. Second, it has less than most other places in the local area in order of person in poverty 55 to 64 years at 12% 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. Canton Valley CDP has the largest proportion of people who are in poverty and employed at 88.0% 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.) Canton Valley CDP depicts it has a households with public assistance of 8.0% which is the second most households with public assistance of all the places in the greater Canton Valley CDP region. The place with the highest households with public assistance in the area is New Hartford Center CDP which depicts a households with public assistance of 18.5% (approximately 2.3 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Canton Valley CDP depicts it has a the gini index of 54.0% which is ranked #1 of all places in the greater Canton Valley CDP region.

Canton Valley CDP Connecticut 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 Canton Valley CDP 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.) Canton Valley CDP has the largest proportion of people who bicycle or walk to work at 2% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Canton Valley CDP or elsewhere.) Canton Valley CDP has the largest proportion of people who walked at 2% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Canton Valley CDP has one of the largest proportions of people who leave for work between 12am to 5am at 4% of the total and is ranked #2. The only larger place being Tariffville CDP with 5%. Second, it has the largest proportion of people who leave for work between 6am to 630am at 12% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 7am to 730am at 29% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 9am to 10am at 3% of the total. In addition, it has the smallest proportion of people who leave for work between 12noon to 4pm at 1% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Canton Valley CDP has the largest proportion of people with commute time between 5 to 9 minutes at 12% of the total and is ranked #1. Second, it has the largest proportion of people with commute time between 15 to 19 minutes at 15% of the total and is ranked #1. Third, it has the smallest proportion of people with commute time between 25 to 29 minutes at 1% of the total. Also, it has the smallest proportion of people with commute time between 30 to 34 minutes at 11% of the total. In addition, it has the largest proportion of people with commute time between 35 to 39 minutes at 11% of the total and is ranked #1. Furthermore, it has the largest proportion of people with commute time between 40 to 44 minutes at 14% of the total and is ranked #1. Next it has the largest proportion of people with commute time between 60 to 89 minutes at 7% of the total and is ranked #1.

The average commute time is shown in Figure 37. Canton Valley CDP depicts it has an average commute time of 29 which is the third most average commute time of all other places in the greater Canton Valley CDP region. Figure 38 shows the difference between male versus female commuting time. Canton Valley CDP shows average commute time in minutes for men 32.8% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Canton Valley CDP has the largest proportion of no vehicle available at 8% of the total and is ranked #1. Second, it has one of the largest proportions of 1 vehicle available at 30% of the total and is ranked #2. The only larger place being New Hartford Center CDP with 59%. Third, it has the smallest proportion of 2 vehicles available at 15% of the total. Also, it has the largest proportion of 3 vehicles available at 41% of the total and is ranked #1. In addition, it has one of the largest proportions of 5 or more vehicles available at 6% of the total and is ranked #2. The only larger place being Weatogue CDP with 7%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Canton Valley CDP shows it has a people who both work and live in the same city of 5% which is the second smallest in terms of people who both work and live in the same city of all the other places in the greater region. The place with the highest people who both work and live in the same city in the area is Simsbury Center CDP which depicts a people who both work and live in the same city of 20% (approximately 3.7 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Canton Valley CDP is approximately an eigth the size. Also, compared with the state of Connecticut, people who both work and live in the same city of 31%, Canton Valley CDP is approximately a sixth the size.

Canton Valley CDP Connecticut 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. Canton Valley CDP depicts it has the hightest median earnings of $91,563 for the management, business, and financial occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Canton Valley CDP depicts it has the hightest median earnings of $76,532 for the management, business, and financial occupations category. The table in Figure 48, shows Canton Valley CDP employment data in terms of job categories and salary data.

Canton Valley CDP Connecticut 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. Canton Valley CDP shows it has the hightest entrepreneurs of 60% 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. Canton Valley CDP depicts it has the hightest entrepreneurs of 100% for the self employed in professional, scientific, management, administrative services classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Canton Valley CDP depicts it has an average annual self employment income of $75,076 which is at the top of all other places in the greater Canton Valley CDP region. Comparing average annual self employment income to the United States average of $37,819, Canton Valley CDP is about twice as large. Also, compared with the state of Connecticut, average annual self employment income of $47,693, Canton Valley CDP is 57.4% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Canton Valley CDP depicts total number of self-employed men approximately 4.1 times bigger as the total number of self-employed women.