Canton Valley CDP Connecticut Income Charts

This section shows the Canton Valley CDP Connecticut economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Canton Valley CDP depicts it has a Median earnings of $71,765 which is less than most other places in the metropolitan area. The place with the highest median earnings per worker in the area is West Simsbury CDP which depicts a median earnings of $132,685 (about twice as large). Comparing median earnings per worker to the United States average of $53,269, Canton Valley CDP is 34.7% larger. Also, measured against the state of Connecticut, median earnings per worker of $65,697, Canton Valley CDP is 9.2% 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 $65,211 which is the second smallest when ranked by 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 depicts a median income of $160,284 (approximately 2.5 times bigger). Comparing median household income to the United States average of $69,021, Canton Valley CDP is about 5.8% smaller. Also, in comparison with the state of Connecticut, median household income of $83,572, Canton Valley CDP is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Canton Valley CDP metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $50,000 and $74,999 at 21.0% of the total and is ranked #1. Second, it has less than most other places in the local area when sorted by earnings between $75,000 and $99,999 at 15.9% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 43.0 which is the largest of all 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 a Avg Hrly Earnings of $32.10 which is the second smallest as measured by average hourly earnings of all the other places in the greater region. The place with the highest average hourly earnings in the area is West Simsbury CDP which depicts an average hourly earnings of $64.76 (about twice as large). Comparing average hourly earnings to the United States average of $26.40, Canton Valley CDP is 21.6% larger. Also, measured against the state of Connecticut, average hourly earnings of $33.25, Canton Valley CDP is only about 3.6% 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 Self Employed of 5.8% which is the second smallest in terms of percentage of people self employed of all the other places in the greater region. The place with the highest percentage of people self employed in the area is West Simsbury CDP which depicts a percentage self employed of 19.6% (approximately 3.4 times bigger).

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 places in the local area at $89,338 of the total. Second, it has the smallest proportion of median income-45 to 64 years at $43,229 of the total.

Figure 9 breaks down the source of income and Canton Valley CDP has the largest proportion of investment and retirement income at 10.3% of the total and is ranked #1. Second, it has the largest proportion of social security at 2.0% 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 21.9% which is the second smallest when ranked by households with retirement income of all the other places in the metro area. The place with the highest households with retirement income in the area is Collinsville CDP which depicts a households with retirement income of 36.3% (66.0% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the smallest proportion of overall family income at $67,059 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 depicts 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 February 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 8.7% to 2.9% in February 2020. This represents a decrease in the monthly unemployment rate of 66.7%. Since that time, the monthly unemployment rate has gone to 3.4% This represents an increase in the monthly unemployment rate of 17.2%. 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 February 2010 to before the Coronavirus Pandemic the monthly labor force participation went from 5,673 to 5,893 in March 2020. This represents an increase in the monthly labor force participation of 3.9%. Since that time, the monthly labor force participation has gone to 5,751 This represents a decrease in the monthly labor force participation of 2.4%.

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 a Unemployment Rate of 0.3% which is the second smallest when ranked by unemployment rate of all the other places in the local area. The place with the highest unemployment rate in the area is Tariffville CDP which depicts a rate of 12.2% ( markedly bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Canton Valley CDP depicts it has a Labor Force Participation of 55.3% which is the second smallest as measured by participation rate of all the other places in the metropolitan area.

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 one of the largest proportions of unemployed at 44.7% of the total and is ranked #2. The only larger place being West Simsbury CDP with 45.3%.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Canton Valley CDP shows full time employees very much 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 Single Earner Families of 9.9% which is the second smallest as measured by families with a single earner of all the other places in the local area. The place with the highest families with a single earner in the area is West Simsbury CDP which depicts a single earners rate of 32.5% (approximately 3.3 times bigger). The percentage of families with no one working is depicted in Figure 22. Canton Valley CDP shows it has a Families with No One Working of 35.5% which is more than all other places in the surrounding region.

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 In Poverty of 85 which is less than most other places in the metro 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 338 (approximately 4.0 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 shows it has a Percent of Population In Poverty of 5.7% which is the third most percent of people earning less than the poverty level of all other places in the greater Canton Valley CDP region. The place with the highest percent of people earning less than the poverty level in the area is Tariffville CDP which depicts a percent of people in poverty of 12.4% (about twice as large).

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 12 to 17 years at 86% of the total and is ranked #1. Second, it has one of the largest proportions of person in poverty 35 to 54 years at 14% of the total and is ranked #3. Only #2 Simsbury Center CDP (16%), and #1 Collinsville CDP (17%) are larger.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Canton Valley CDP has the largest proportion of hawaiian poverty rate at 100% 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 shows it has a Public Assistance Percent of 11.4% which is the largest of all places in the greater region.

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 Gini Index of 44.4% which is in the middle range of other places in the greater region.

Canton Valley CDP Connecticut Work Commute Charts

In Figure 35 is shown a frequency distribution of the time that people leave for work. Canton Valley CDP has the largest proportion of people who leave for work between 530 am to 6am at 23% of the total and is ranked #1. Second, it has the smallest proportion of people who leave for work between 6am to 630am at 3% of the total. Third, it has the largest proportion of people who leave for work between 630 am to 7am at 27% 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. Canton Valley CDP has the percentage of people with commute time of less than 5 minutesutes the second smallest as measured by people with commute time of less than 5 minutes of all the other places in the surrounding region at 2% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 22% of the total and is ranked #2. The only larger place being Tariffville CDP with 24%. Third, it has the smallest proportion of people with commute time between 20 to 24 minutes at 3% of the total. Also, it has the largest proportion of people with commute time between 35 to 39 minutes at 15% of the total and is ranked #1.

The average commute time is shown in Figure 37. Canton Valley CDP depicts it has a Avg Commute Time of 29 which is the second most average commute time of all the places in the greater Canton Valley CDP region. Figure 38 shows the difference between male versus female commuting time. Canton Valley CDP depicts average commute time in minutes for men 27.3% 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 39% of the total and is ranked #1. Second, it has the smallest proportion of 1 vehicle available at 26% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Canton Valley CDP depicts it has a Work in city or place where live of 15% which is less than most other places in the metro area. 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 33% (about twice as large). Comparing people who both work and live in the same city to the United States average of 44%, Canton Valley CDP is approximately a third the size. Also, compared to the state of Connecticut, people who both work and live in the same city of 33%, Canton Valley CDP is approximately half 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 shows it has the hightest median earnings of $99,878 for the management, business, and financial occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and Canton Valley CDP shows it has the hightest median earnings of $83,816 for the management, business, and financial occupations aggregate. 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 depicts it has the hightest entrepreneurs of 100% for the self employed management, business, science, and arts businesses category.

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 shows it has the hightest entrepreneurs of 100% for the self employed in professional, scientific, management, administrative services group.