This section shows the ZIP code 62702 Illinois economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, 62702 shows it has a Median earnings of $43,424 which is the smallest as measured by median earnings per worker of all the other zip codes in the metro area. The zip code with the highest median earnings per worker in the area is 62711 which indicates a median earnings of $77,851 (79.3% larger). Comparing median earnings per worker to the United States average of $53,269, ZIP code 62702 is about 22.7% smaller. Also, versus the state of Illinois, median earnings per worker of $56,393, ZIP code 62702 is approximately three-fourths the 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 $46,543 which is less than most other zip codes in the greater region. The zip code with the highest median household income in the area is 62711 which shows a median income of $108,678 (approximately 2.3 times bigger). Comparing median household income to the United States average of $69,021, ZIP code 62702 is approximately three-fourths the size. Also, in comparison with the state of Illinois, median household income of $72,563, ZIP code 62702 is approximately three-fourths the size.
The next section examines a variety of different income statistics for the ZIP code 62702 metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $15,000 and $19,999 at 36.9% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $20,000 and $49,999 at 21.9% of the total. 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 $22.15 which is the smallest when sorted by average hourly earnings of all the other zip codes in the local area. The zip code with the highest average hourly earnings in the area is 62711 which shows an average hourly earnings of $38.29 (72.9% larger). Comparing average hourly earnings to the United States average of $26.40, ZIP code 62702 is about 19.2% smaller. Also, benchmarked against the state of Illinois, average hourly earnings of $28.10, ZIP code 62702 is approximately three-fourths the size.
Figure 5 examines the number of self employed people in the ZIP code 62702 metro area based on the number of people who reported any self employment income. 62702 depicts it has a Self Employed of 5.9% which is the second smallest in terms of percentage of people self employed of all the other zip codes in the local area. The zip code with the highest percentage of people self employed in the area is 62712 which shows a percentage self employed of 12.3% (about twice as large).
Figure 6 breaks down the source of income and 62702 has the largest proportion of income from wages at 6.2% of the total and is ranked #1. Second, it has the smallest proportion of self employment income at 16.2% of the total.
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 23.2% which is less than most other zip codes in the local area. The zip code with the highest households with retirement income in the area is 62707 which depicts a households with retirement income of 42.6% (about twice as large).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. 62702 shows full time employees approximately 3.5 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. ZIP code 62702 depicts it has the hightest entrepreneurs of 20% 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. 62702 depicts it has the hightest cost of 106.5 for the cost of healthcare classification.
ZIP code 62702 Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. 62702 shows it has a Percent of Population In Poverty of 24.0% which is the third most percent of people earning less than the poverty level of all other zip codes in the greater ZIP code 62702 region. The zip code with the highest percent of people earning less than the poverty level in the area is 62701 which indicates a percent of people in poverty of 35.9% (49.4% larger).
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.) ZIP code 62702 shows it has a Public Assistance Percent of 25.3% which is the third most households with public assistance of all other zip codes in the greater ZIP code 62702 region. The zip code with the highest households with public assistance in the area is 62701 which depicts a households with public assistance of 35.3% (39.7% larger).
ZIP code 62702 Labor Force Charts
The table in Figure 13, shows ZIP code 62702 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 shows that from February 2017 to before the COVID-19 Pandemic it went from 5.2% to 3.9% in December 2019. This represents a decrease in the monthly unemployment rate of 25.0%. Since that time, the monthly unemployment rate has gone to 3.9%. This represents an increase in the monthly unemployment rate of very little.
ZIP code 62702 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.
ZIP code 62702 Work Commute Charts
Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown ZIP code 62702 or elsewhere.) ZIP code 62702 has the largest proportion of people who carpooled at 10% 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. ZIP code 62702 depicts it has a Avg Commute Time of 18 which is less than most other zip codes in the greater 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.