Florence township-Will County Illinois Income Charts

This section shows the Florence township-Will County Illinois economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Florence township-Will County depicts it has a median earnings per worker of $69,286 which is more than all other places in the greater Florence township-Will County region. Comparing median earnings per worker to the United States average of $47,712, Florence township-Will County is 45.2% larger. Also, versus the state of Illinois, median earnings per worker of $51,263, Florence township-Will County is 35.2% 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 $82,250 which is the second most median income of all the places in the greater Florence township-Will County region. The city with the highest median household income in the area is Manhattan which shows a median income of $91,429 (11.2% larger). Comparing median household income to the United States average of $60,293, Florence township-Will County is 36.4% larger. Also, in comparison with the state of Illinois, median household income of $63,575, Florence township-Will County is 29.4% larger.

The next section examines a variety of different income statistics for the Florence township-Will County metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 20.4% of the total and is ranked #3. Only #2 Wilmington (20.9%), and #1 Symerton (21.4%) are larger. Second, it has the smallest proportion of earnings between $20,000 and $49,999 at 23.5% of the total. Third, it has the smallest proportion of earnings between $50,000 and $74,999 at 18.0% of the total. Also, it has the largest proportion of earnings of $100,000 more at 15.6% 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 an average hours of 38.3 which is the third most average hours of all other places in the greater Florence township-Will County region. The city with the highest average hours in the area is Elwood which depicts an average hours of 38.6 ( about the same size). 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 $34.79 which is the most of all places in the greater Florence township-Will County region. Comparing average hourly earnings to the United States average of $23.71, Florence township-Will County is 46.7% larger. Also, in contrast to the state of Illinois, average hourly earnings of $25.61, Florence township-Will County is 35.9% larger.

Figure 7 examines the number of self employed people in the Florence township-Will County metro area based on the number of people who reported any self employment income. Florence township-Will County shows it has a percentage of people self employed of 14.9% which is the highest of all places in the greater Florence township-Will County 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 $120,875 of the total and is ranked #1. Second, it has the largest proportion of median income-45 to 64 years at $106,111 of the total and is ranked #1. Third, it has the largest proportion of median income-65 years and over at $55,250 of the total and is ranked #1.

Figure 9 breaks down the source of income and Florence township-Will County has the smallest proportion of income from wages at 62.3% of the total. Second, it has the largest proportion of self employment income at 11.7% of the total and is ranked #1. Third, it has the largest proportion of investment and retirement income at 16.7% 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 38.8% which is more than all other places in the greater Florence township-Will County region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $105,972 of the total and is ranked #1. Second, it has the largest proportion of white family income at $108,603 of the total and is ranked #1.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Florence township-Will County shows it has the hightest cost of 116.1 for the cost of utilities group.

Florence township-Will County Illinois 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 14.6% to 3.9% in December 2019. This represents a decrease in the monthly unemployment rate of 73.3%. Since that time, the monthly unemployment rate has gone to 3.9% This represents an increase in the monthly unemployment rate of very little. 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 Coronavirus Pandemic the monthly labor force participation went from 76,144 to 73,102 in November 2019. This represents a decrease in the monthly labor force participation of 4.0%. Since that time, the monthly labor force participation has gone to 73,102 This represents an increase in the monthly labor force participation of very little.

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 Florence township-Will County depicts it has an unemployment rate of 1.8% which is the second smallest as measured by unemployment rate of all the other places in the metro area. The city with the highest unemployment rate in the area is Symerton which depicts a rate of 5.6% (approximately 3.1 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Florence township-Will County shows it has a participation rate of 56.6% which is the smallest as measured by participation rate of all the other places in the 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). Florence township-Will County has the largest proportion of not in labor force at 43.4% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Florence township-Will County shows full time employees approximately 2.4 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 Florence township-Will County area. Florence township-Will County depicts it has a families with a single earner of 38.7% which is is the uppermost of the places in the greater Florence township-Will County region. The percentage of families with no one working is depicted in Figure 22. Florence township-Will County shows it has a families with no one working of 19.4% which is the third most families with no one working of all other places in the greater Florence township-Will County region. The city with the highest families with no one working in the area is Lakewood Shores CDP which depicts a families with no worker of 24.7% (27.6% larger).

Florence township-Will County Illinois Poverty Charts

The next section details economy analysis about poverty for residents of the Florence township-Will County 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. Florence township-Will County depicts it has a total people earning less than the poverty level of 132 which is the second smallest in order of total people earning less than the poverty level of all the other places in the local area. The city with the highest total people earning less than the poverty level in the area is Wilmington which depicts a total people earning less than the poverty level of 871 ( considerably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Florence township-Will County shows it has a percent of people earning less than the poverty level of 13.1% which is the third most of all other places in the metropolitan area. The city with the highest percent of people earning less than the poverty level in the area is Lakewood Shores CDP which depicts a percent of people in poverty of 18.3% (40.0% larger).

In Figure 25 people who are in poverty are broken out by age group. Florence township-Will County has the largest proportion of person in poverty 12 to 17 years at 22% of the total and is ranked #1. Second, it has the largest proportion of person in poverty 18 to 34 years at 35% of the total and is ranked #1. Third, it has one of the largest proportions of person in poverty 35 to 54 years at 23% of the total and is ranked #2. The only larger city being Braidwood with 39%. Also, it has the smallest proportion of person in poverty 65+ years at 1% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Florence township-Will County has the percentage of white poverty rate less than most other places in the surrounding region at 2% of the total. Second, it has the largest proportion of hispanicp poverty rate at 85% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Florence township-Will County has one of the largest proportions of unmarried with children and in poverty at 73% of the total and is ranked #2. The only larger city being Lakewood Shores CDP with 76%. Second, it has the largest proportion of unmarried female with children and in poverty at 73% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Florence township-Will County has one of the largest proportions of less than highschool in poverty at 25% of the total and is ranked #2. The only larger city being Wilmington with 29%. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Florence township-Will County has the largest proportion of people who are in poverty and employed at 34.8% of the total and is ranked #1. Second, it has one of the largest proportions of people who are in poverty and not in labor force at 19.7% of the total and is ranked #3. Only #2 Wilmington (23.1%), and #1 Braidwood (24.5%) are larger. 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.) Florence township-Will County shows it has a households with public assistance of 3.5% which is the smallest in order of households with public assistance of all the other places in the local area. The city with the highest households with public assistance in the area is Symerton which indicates a households with public assistance of 38.2% ( markedly bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Florence township-Will County depicts it has a the gini index of 36.4% which is the third most the gini index of all other places in the greater Florence township-Will County region.

Florence township-Will County Illinois 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 Florence township-Will County 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.) Florence township-Will County has the largest proportion of people who drive a car or motorcycle to work at 98% of the total and is ranked #1. Second, it has the smallest proportion of people who work at home at 1% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Florence township-Will County or elsewhere.) Florence township-Will County has the smallest proportion of people who work at home at 1% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Florence township-Will County has the smallest proportion of people who leave for work between 12am to 5am at 2% of the total. Second, it has the largest proportion of people who leave for work between 530 am to 6am at 11% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 7am to 730am at 18% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 8am to 830am at 10% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 10am to 11am at 7% 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. Florence township-Will County has the largest proportion of people with commute time between 10 to 14 minutes at 14% of the total and is ranked #1. Second, it has the smallest proportion of people with commute time between 40 to 44 minutes at 1% of the total. Third, it has one of the largest proportions of people with commute time of 90 or more minutesutes at 6% of the total and is ranked #3. Only #2 Manhattan (6%), and #1 Braidwood (6%) are larger.

The average commute time is shown in Figure 37. Florence township-Will County shows it has an average commute time of 31 which is less than most other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Florence township-Will County shows average commute time in minutes for men 61.5% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Florence township-Will County has the smallest proportion of 2 vehicles available at 26% of the total. Second, it has the second smallest when sorted by no vehicle available of all the other places in the metropolitan area as measured by 3 vehicles available at 22% of the total. Third, it has the largest proportion of 4 vehicles available at 36% of the total and is ranked #1. Also, 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 city being Elwood with 7%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Florence township-Will County depicts it has a people who both work and live in the same city of 13% which is the second most people who both work and live in the same city of all the places in the greater Florence township-Will County region. The city with the highest people who both work and live in the same city in the area is Wilmington which shows a people who both work and live in the same city of 25% (about twice as large). Comparing people who both work and live in the same city to the United States average of 42%, Florence township-Will County is approximately a third the size. Also, measured against the state of Illinois, people who both work and live in the same city of 38%, Florence township-Will County is approximately a third the size.

Florence township-Will County Illinois 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. Florence township-Will County depicts it has the hightest median earnings of $96,667 for the management, business, and financial occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Florence township-Will County shows it has the hightest median earnings of $42,045 for the earnings-sales and office occupations classification. The table in Figure 48, shows Florence township-Will County employment data in terms of job categories and salary data.

Florence township-Will County Illinois 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. Florence township-Will County depicts it has the hightest entrepreneurs of 37% for the self employed management, business, science, and arts businesses classification.

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. Florence township-Will County depicts it has the hightest entrepreneurs of 68% for the self employed in construction aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Florence township-Will County depicts it has an average annual self employment income of $70,921 which is at the top of all other places in the local area. Comparing average annual self employment income to the United States average of $37,819, Florence township-Will County is about twice as large. Also, measured against the state of Illinois, average annual self employment income of $37,670, Florence township-Will County is about twice as large.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Florence township-Will County depicts total number of self-employed men appreciably bigger as the total number of self-employed women.