Lake Park Georgia Income Charts

This section shows the Lake Park Georgia economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Park depicts it has a Median earnings of $44,141 which is the second most median earnings of all the places in the greater Lake Park region. The city with the highest median earnings per worker in the area is Dasher which depicts a median earnings of $44,583 ( only slightly larger). Comparing median earnings per worker to the United States average of $49,041, Lake Park is about 11.1% smaller. Also, measured against the state of Georgia, median earnings per worker of $44,957, Lake Park is about the same size.

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 $51,563 which is the second most median income of all the places in the greater Lake Park region. The city with the highest median household income in the area is Dasher which depicts a median income of $53,516 (only about 3.8% larger). Comparing median household income to the United States average of $62,843, Lake Park is about 21.9% smaller. Also, measured against the state of Georgia, median household income of $58,700, Lake Park is about 13.8% smaller.

The next section examines a variety of different income statistics for the Lake Park metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 the second smallest in order of median earnings of less than $10,000 of all the other places in the local area at 8.8% of the total. Second, it has the smallest proportion of earnings between $10,000 and $14,999 at 3.0% of the total. Third, it has the largest proportion of earnings between $50,000 and $74,999 at 9.4% of the total and is ranked #1. Also, it has the largest proportion of earnings between $75,000 and $99,999 at 9.9% 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 38.3 which is the second most average hours of all the places in the greater Lake Park region. The city with the highest average hours in the area is Echols County consolidated government which shows an average hours of 39.9 (only about 4.2% 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 $22.16 which is the second most average hourly earnings of all the places in the greater Lake Park region. The city with the highest average hourly earnings in the area is Dasher which shows an average hourly earnings of $22.99 (only about 3.7% larger). Comparing average hourly earnings to the United States average of $24.31, Lake Park is about 9.7% smaller. Also, versus the state of Georgia, average hourly earnings of $21.94, Lake Park is only slightly larger.

Figure 7 examines the number of self employed people in the Lake Park metro area based on the number of people who reported any self employment income. Lake Park depicts it has a Self Employed of 10.2% which is the highest of all places in the greater Lake Park region.

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-25 to 44 years at $72,857 of the total and is ranked #1. Second, it has one of the largest proportions of median income-45 to 64 years at $42,917 of the total and is ranked #3. Only #2 Remerton ($48,125), and #1 Dasher ($49,250) are larger.

Figure 9 breaks down the source of income and Lake Park has the largest proportion of income from wages at 9.9% 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 25.6% which is the highest of all places in the greater Lake Park region.

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 $69,107 of the total and is ranked #2. The only larger city being Valdosta with $75,699. Second, it has one of the largest proportions of white family income at $40,313 of the total and is ranked #2. The only larger city being Dasher with $72,857.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Lake Park shows it has the hightest cost of 111.8 for the cost of grocery items aggregate.

Lake Park Georgia 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 2006 to before the disasterous COVID Pandemic the monthly unemployment rate went from 4.7% to 4.4% in March 2020. This represents a decrease in the monthly unemployment rate of 6.4%. Since that time, the monthly unemployment rate has gone to 6.7% This represents an increase in the monthly unemployment rate of 52.3%. 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 February 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 25,841 to 25,422 in February 2020. This represents a decrease in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 26,177 This represents an increase in the monthly labor force participation of 3.0%.

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 Lake Park shows it has a Unemployment Rate of 5.1% which is the second most unemployment rate of all the places in the greater Lake Park region. The city with the highest unemployment rate in the area is Jennings which depicts a rate of 9.7% (about twice as large). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Park shows it has a Labor Force Participation of 49.0% which is less than most other places in the metro area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Park depicts full time employees approximately 3.8 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 Lake Park area. Lake Park shows it has a Single Earner Families of 36.6% which is in the mid range of other places in the metro area. The city with the highest families with a single earner in the area is Remerton which shows a single earners rate of 51.4% (40.2% larger). The percentage of families with no one working is depicted in Figure 22. Lake Park shows it has a Families with No One Working of 16.1% which is less than most other places in the surrounding region. The city with the highest families with no one working in the area is Jasper which shows a families with no worker of 38.1% (approximately 2.4 times bigger).

Lake Park Georgia Poverty Charts

The next section details economy analysis about poverty for residents of the Lake Park 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. Lake Park shows it has a Total In Poverty of 123 which is the smallest when sorted by total people earning less than the poverty level of all the other places in the metro area. The city with the highest total people earning less than the poverty level in the area is Valdosta which shows a total people earning less than the poverty level of 17,394 ( considerably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake Park depicts it has a Percent of Population In Poverty of 14.3% which is the smallest in terms of percent of people earning less than the poverty level of all the other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Jennings which shows a percent of people in poverty of 51.6% (approximately 3.6 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Lake Park has one of the largest proportions of person in poverty 18 to 34 years at 28% of the total and is ranked #2. The only larger city being Echols County consolidated government with 43%. Second, it has the largest proportion of person in poverty 35 to 54 years at 21% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake Park has the percentage of white poverty rate the second smallest when sorted by white poverty rate of all the other places in the metro area at 20% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake Park has the smallest proportion of married with children and in poverty at 7% of the total. Second, it has the smallest proportion of unmarried with children and in poverty at 15% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Lake Park has the percentage of less than highschool in poverty the second smallest when sorted by less than highschool in poverty of all the other places in the local area 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. Lake Park has the largest proportion of people who are in poverty and employed at 15.4% 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.) Lake Park depicts it has a Public Assistance Percent of 23.5% which is in the center range of other places in the greater region. The city with the highest households with public assistance in the area is Jennings which depicts a households with public assistance of 41.8% (78.1% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake Park depicts it has a Gini Index of 57.6% which is at the top of all other places in the greater Lake Park region.

Lake Park Georgia 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 Lake Park 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.) Lake Park has the largest proportion of people who drive a car or motorcycle to work at 1% of the total and is ranked #1. Second, it 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 Lake Park or elsewhere.) Lake Park has the smallest proportion of people who carpooled at 4% of the total. Second, it has the largest proportion of people who take the bus at 1% 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. Lake Park has the percentage of people who leave for work between 12am to 5am less than most other places in the local area at 1% of the total. Second, it has the smallest proportion of people who leave for work between 830 am to 9am at 0% of the total. Third, it has the smallest proportion of people who leave for work between 12noon to 4pm at 2% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Lake Park has the percentage of people with commute time of less than 5 minutesutes the second smallest when sorted by people with commute time of less than 5 minutes of all the other places in the metro area at 10% of the total. Second, it has less than most other places in the greater region when ranked by people with commute time between 10 to 14 minutes at 14% of the total. Third, it has the largest proportion of people with commute time between 20 to 24 minutes at 16% of the total and is ranked #1. Also, it has the largest proportion of people with commute time between 30 to 34 minutes at 6% of the total and is ranked #1.

The average commute time is shown in Figure 37. Lake Park shows it has a Avg Commute Time of 20 which is the third most average commute time of all other places in the greater Lake Park region. Figure 38 shows the difference between male versus female commuting time. Lake Park depicts average commute time in minutes for men only about 4.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake Park has the percentage of no vehicle available the second smallest as measured by no vehicle available of all the other places in the area at 13% of the total. Second, it has one of the largest proportions of 1 vehicle available at 36% of the total and is ranked #3. Only #2 Valdosta (40%), and #1 Remerton (52%) are larger. Third, it has the largest proportion of 2 vehicles available at 35% of the total and is ranked #1. Also, it has less than most other places in the local area when ranked by 3 vehicles available at 4% of the total. In addition, it has one of the largest proportions of 4 vehicles available at 5% of the total and is ranked #3. Only #2 Dasher (7%), and #1 Echols County consolidated government (11%) are larger. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake Park depicts it has a Work in city or place where live of 17% which is in the mid range of other places in the greater region. The city with the highest people who both work and live in the same city in the area is Valdosta which depicts a people who both work and live in the same city of 73% (approximately 4.2 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Lake Park is approximately half the size. Also, compared to the state of Georgia, people who both work and live in the same city of 40%, Lake Park is approximately half the size.

Lake Park Georgia 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. Lake Park depicts it has the hightest median earnings of $75,625 for the earnings-production, transportation, material moving occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Park shows it has the hightest median earnings of $86,500 for the earnings-healthcare practitioners and tech occupations grouping. The table in Figure 48, shows Lake Park employment data in terms of job categories and salary data.

Lake Park Georgia 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. Lake Park shows it has the hightest entrepreneurs of 75% for the self employed management, business, science, and arts businesses grouping.

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. Lake Park shows it has the hightest entrepreneurs of 50% for the self employed in professional, scientific, management, administrative services classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake Park indicates it has a Self Employment Income of $86,239 which is more than all other places in the greater Lake Park region. Comparing average annual self employment income to the United States average of $39,154, Lake Park is approximately 2.2 times bigger. Also, in comparison with the state of Georgia, average annual self employment income of $36,677, Lake Park is approximately 2.4 times bigger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Park depicts total number of self-employed men approximately 3.6 times bigger as the total number of self-employed women.