Floyd township Illinois Income Charts

This section shows the Floyd township Illinois economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Floyd township depicts it has a median earnings per worker of $62,917 which is the largest of all places in the greater Floyd township region. Comparing median earnings per worker to the United States average of $47,712, Floyd township is 31.9% larger. Also, compared to the state of Illinois, median earnings per worker of $51,263, Floyd township is 22.7% 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 $73,056 which is more than all other places in the greater Floyd township region. Comparing median household income to the United States average of $60,293, Floyd township is 21.2% larger. Also, benchmarked against the state of Illinois, median household income of $63,575, Floyd township is 14.9% larger.

The next section examines a variety of different income statistics for the Floyd township metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 less than most other places in the local area at 17.0% of the total. Second, it has the smallest proportion of earnings between $20,000 and $49,999 at 16.5% of the total. Third, it has the largest proportion of earnings between $50,000 and $74,999 at 30.2% of the total and is ranked #1. Also, it has the largest proportion of earnings between $75,000 and $99,999 at 12.6% of the total and is ranked #1. In addition, it has the largest proportion of earnings of $100,000 more at 8.2% 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 49.3 which is at the top of all other places in the greater Floyd township region. 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 $24.54 which is more than all other places in the greater region. Comparing average hourly earnings to the United States average of $23.71, Floyd township is only about 3.5% larger. Also, in comparison with the state of Illinois, average hourly earnings of $25.61, Floyd township is only about 4.3% smaller.

Figure 7 examines the number of self employed people in the Floyd township metro area based on the number of people who reported any self employment income. Floyd township shows it has a percentage of people self employed of 39.0% which is is the uppermost of the places in the greater Floyd township region.

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-45 to 64 years at $83,333 of the total and is ranked #1.

Figure 9 breaks down the source of income and Floyd township has the largest proportion of self employment income at 10.6% of the total and is ranked #1. Second, it has the smallest proportion of investment and retirement income at 11.6% of the total. Third, it has the smallest proportion of social security at 7.9% of the total.

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 16.9% which is the smallest when ranked by households with retirement income of all the other places in the metropolitan area. The city with the highest households with retirement income in the area is Roseville which depicts a households with retirement income of 30.7% (about twice as large).

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Floyd township shows it has the hightest cost of 103.1 for the cost of utilities group.

Floyd township 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 Wuhan Coronavirus Pandemic the monthly unemployment rate went from 11.7% to 4.9% in December 2019. This represents a decrease in the monthly unemployment rate of 58.1%. Since that time, the monthly unemployment rate has gone to 4.9% 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 Wuhan virus Pandemic the monthly labor force participation went from 14,082 to 12,064 in November 2019. This represents a decrease in the monthly labor force participation of 14.3%. Since that time, the monthly labor force participation has gone to 12,064 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 Floyd township depicts it has an unemployment rate of 3.5% which is the third most unemployment rate of all other places in the greater Floyd township region. The city with the highest unemployment rate in the area is Monmouth which depicts a rate of 5.3% (53.9% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Floyd township depicts it has a participation rate of 54.6% which is in the mid range of other places in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Floyd township shows full time employees substantially 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 Floyd township area. Floyd township shows it has a families with a single earner of 36.6% which is the second most families with a single earner of all the places in the greater Floyd township region. The city with the highest families with a single earner in the area is Roseville which shows a single earners rate of 47.2% (29.2% larger). The percentage of families with no one working is depicted in Figure 22. Floyd township shows it has a families with no one working of 16.1% which is the second smallest when sorted by families with no one working of all the other places in the area. The city with the highest families with no one working in the area is Galesburg which depicts a families with no worker of 22.1% (37.2% larger).

Floyd township Illinois Poverty Charts

The next section details economy analysis about poverty for residents of the Floyd township 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. Floyd township shows it has a total people earning less than the poverty level of 83 which is less than most other places in the local area. The city with the highest total people earning less than the poverty level in the area is Galesburg which shows a total people earning less than the poverty level of 6,042 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Floyd township shows it has a percent of people earning less than the poverty level of 23.2% which is the second most of all the places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Abingdon which shows a percent of people in poverty of 23.8% (only about 2.5% larger).

In Figure 25 people who are in poverty are broken out by age group. Floyd township has the largest proportion of person in poverty under 12 years at 27% of the total and is ranked #1. Second, it has the largest proportion of person in poverty 12 to 17 years at 27% of the total and is ranked #1. Third, it has the largest proportion of person in poverty 18 to 34 years at 39% of the total and is ranked #1. Also, it has the smallest proportion of person in poverty 35 to 54 years at 8% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Floyd township has one of the largest proportions of white poverty rate at 24% of the total and is ranked #2. The only larger city being Abingdon with 25%.

Figure 27 shows key poverty statistics for groups based on marriage status. Floyd township has the largest proportion of married with children and in poverty at 80% of the total and is ranked #1. Second, it has the largest proportion of unmarried with children and in poverty at 100% of the total and is ranked #1. Third, it has the largest proportion of unmarried female with children and in poverty at 100% 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. Floyd township has the percentage of highschool graduate and in poverty the second smallest as measured by less than highschool in poverty of all the other places in the surrounding region at 8% of the total. Second, it has the largest proportion of has some college and in poverty at 19% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Floyd township has the percentage of people who are in poverty and employed less than most other places in the metropolitan area at 15.7% of the total. Second, it has the largest proportion of people who are in poverty and unemployed at 13.3% 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.) Floyd township depicts it has a households with public assistance of 9.7% which is the smallest in order of households with public assistance of all the other places in the greater region. The city with the highest households with public assistance in the area is Galesburg which depicts a households with public assistance of 22.5% (approximately 2.3 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Floyd township depicts it has a the gini index of 44.8% which is in the mid range of other places in the surrounding region.

Floyd township 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 Floyd township 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.) Floyd township has the largest proportion of people who drive a car or motorcycle to work at 100% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Floyd township or elsewhere.) Floyd township has the largest proportion of people who drove alone at 97% of the total and is ranked #1. Second, it has the smallest proportion of people who carpooled at 3% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Floyd township has one of the largest proportions of people who leave for work between 12am to 5am at 11% of the total and is ranked #2. The only larger city being St Augustine with 19%. Second, it has the largest proportion of people who leave for work between 6am to 630am at 29% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 7am to 730am at 6% of the total. Also, it has the largest proportion of people who leave for work between 730 am to 8am at 17% of the total and is ranked #1. In addition, it has the smallest proportion of people who leave for work between 8am to 830am at 4% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Floyd township has the largest proportion of people with commute time of less than 5 minutesutes at 25% of the total and is ranked #1. Second, it has the second smallest in order of people with commute time of less than 5 minutes of all the other places in the local area as measured by people with commute time between 5 to 9 minutes at 8% of the total. Third, it has the second smallest as measured by people with commute time of less than 5 minutes of all the other places in the surrounding region in order of people with commute time between 10 to 14 minutes at 12% of the total. Also, it has one of the largest proportions of people with commute time between 15 to 19 minutes at 28% of the total and is ranked #2. The only larger city being East Galesburg with 29%.

The average commute time is shown in Figure 37. Floyd township shows it has an average commute time of 13 which is the smallest as measured by average commute time of all the other places in the greater region. Figure 38 shows the difference between male versus female commuting time. Floyd township depicts average commute time in minutes for men only about 5.1% smaller as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Floyd township has the smallest proportion of 1 vehicle available at 12% of the total. Second, it has the largest proportion of 2 vehicles available at 69% of the total and is ranked #1. Third, it has less than most other places in the greater region when ranked by 3 vehicles available at 15% of the total. Also, it has the smallest proportion of 4 vehicles available at 4% of the total.

Floyd township 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. Floyd township shows it has the hightest median earnings of $79,375 for the management, business, and financial occupations classification. The table in Figure 48, shows Floyd township employment data in terms of job categories and salary data.

Floyd township 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. Floyd township shows it has the hightest entrepreneurs of 100% for the self employed in natural resources, construction, and maintenance 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. Floyd township depicts it has the hightest entrepreneurs of 100% for the self employed in construction group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Floyd township shows it has an average annual self employment income of $22,178 which is the second smallest in terms of average annual self employment income of all the other places in the greater region. The city with the highest average annual self employment income in the area is Roseville which shows an average annual self employment income of $40,554 (about twice as large). Comparing average annual self employment income to the United States average of $37,819, Floyd township is approximately half the size. Also, measured against the state of Illinois, average annual self employment income of $37,670, Floyd township is approximately half the size.