This section shows the Twin Falls Idaho economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Twin Falls shows it has a Median earnings of $43,628 which is the second most median earnings of all the places in the greater Twin Falls region. The city with the highest median earnings per worker in the area is Kimberly which shows a median earnings of $45,979 (only about 5.4% larger). Comparing median earnings per worker to the United States average of $53,269, Twin Falls is about 22.1% smaller. Also, versus the state of Idaho, median earnings per worker of $46,126, Twin Falls is about 5.7% 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 $53,936 which is the third most median income of all other places in the greater Twin Falls region. The city with the highest median household income in the area is Kimberly which depicts a median income of $69,434 (28.7% larger). Comparing median household income to the United States average of $69,021, Twin Falls is approximately three-fourths the size. Also, compared to the state of Idaho, median household income of $63,377, Twin Falls is about 17.5% smaller.
The next section examines a variety of different income statistics for the Twin Falls metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $75,000 and $99,999 at 7.2% of the total and is ranked #1. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $21.74 which is the second most average hourly earnings of all the places in the greater Twin Falls region. The city with the highest average hourly earnings in the area is Kimberly which depicts an average hourly earnings of $22.73 (only about 4.6% larger). Comparing average hourly earnings to the United States average of $26.40, Twin Falls is about 21.5% smaller. Also, compared with the state of Idaho, average hourly earnings of $23.16, Twin Falls is about 6.6% smaller.
Figure 5 examines the number of self employed people in the Twin Falls metro area based on the number of people who reported any self employment income. Twin Falls depicts it has a Self Employed of 12.8% which is the second most people self employed of all the places in the greater Twin Falls region. The city with the highest percentage of people self employed in the area is Hansen which shows a percentage self employed of 13.2% (only about 3.6% larger).
The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 19.0% which is the third most of all other places in the local area. The city with the highest households with retirement income in the area is Filer which depicts a households with retirement income of 22.1% (16.5% larger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Twin Falls shows full time employees approximately 3.0 times bigger as the part time employees.
Similar to the last chart is Figure 9 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. Twin Falls depicts it has the hightest entrepreneurs of 30% for the self employed in construction classification.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Twin Falls depicts it has the hightest cost of 99.2 for the cost of transportation classification.
Twin Falls Idaho Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Twin Falls depicts it has a Percent of Population In Poverty of 13.6% which is the second smallest in order of percent of people earning less than the poverty level of all the other places in the area. The city with the highest percent of people earning less than the poverty level in the area is Hansen which depicts a percent of people in poverty of 26.7% (about twice as large).
Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Twin Falls shows it has a Public Assistance Percent of 13.8% which is less than most other places in the metro area. The city with the highest households with public assistance in the area is Hansen which depicts a households with public assistance of 23.8% (72.0% larger).
Twin Falls Idaho Labor Force Charts
The table in Figure 13, shows Twin Falls employment data in terms of job categories and salary data.
The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the disasterous Coronavirus Pandemic it went from 4.0% to 2.9% in December 2019. This represents a decrease in the monthly unemployment rate of 27.5%. Since that time, the monthly unemployment rate has gone to 2.9%. This represents an increase in the monthly unemployment rate of very little.
Twin Falls Idaho Jobs Charts
In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.
Figure 16 shows the average median earnings for different categories of jobs.
Twin Falls Idaho 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 Twin Falls community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 17 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Twin Falls has the largest proportion of people who bicycle or walk to work at 7% of the total and is ranked #1. Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Twin Falls or elsewhere.) Twin Falls has the largest proportion of people who bike at 0% of the total and is ranked #1. Second, it has the largest proportion of people who work from home at 7% of the total and is ranked #1.
Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.
The average commute time is shown in Figure 21. Twin Falls depicts it has a Avg Commute Time of 16 which is the second smallest when ranked by average commute time of all the other places in the surrounding region.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.