Knollwood CDP Illinois Income Charts

This section shows the Knollwood CDP Illinois economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Knollwood CDP depicts it has a Median earnings of $74,732 which is the second smallest in order of median earnings per worker of all the other places in the greater region. The place with the highest median earnings per worker in the area is Lake Forest which depicts a median earnings of $132,037 (76.7% larger). Comparing median earnings per worker to the United States average of $49,041, Knollwood CDP is 52.4% larger. Also, compared to the state of Illinois, median earnings per worker of $52,292, Knollwood CDP is 42.9% 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 $103,750 which is the second smallest in order of median household income of all the other places in the metropolitan area. The place with the highest median household income in the area is Lake Forest which depicts a median income of $172,165 (65.9% larger). Comparing median household income to the United States average of $62,843, Knollwood CDP is 65.1% larger. Also, measured against the state of Illinois, median household income of $65,886, Knollwood CDP is 57.5% larger.

The next section examines a variety of different income statistics for the Knollwood CDP 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 metro area at 4.4% of the total. Second, it has the largest proportion of earnings between $20,000 and $49,999 at 19.3% of the total and is ranked #1. Third, it has the largest proportion of earnings between $50,000 and $74,999 at 14.3% of the total and is ranked #1. Also, it has the second smallest in terms of median earnings of less than $10,000 of all the other places in the metro area in order of earnings between $75,000 and $99,999 at 22.1% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 42.4 which is the second most average hours of all the places in the greater Knollwood CDP region. The place with the highest average hours in the area is North Chicago which shows an average hours of 42.7 ( 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 a Avg Hrly Earnings of $33.90 which is the second smallest when ranked by average hourly earnings of all the other places in the local area. The place with the highest average hourly earnings in the area is Lake Forest which depicts an average hourly earnings of $65.44 (about twice as large). Comparing average hourly earnings to the United States average of $24.31, Knollwood CDP is 39.4% larger. Also, compared with the state of Illinois, average hourly earnings of $26.05, Knollwood CDP is 30.1% larger.

Figure 7 examines the number of self employed people in the Knollwood CDP metro area based on the number of people who reported any self employment income. Knollwood CDP depicts it has a Self Employed of 7.6% which is the second smallest in order of percentage of people self employed of all the other places in the local area. The place with the highest percentage of people self employed in the area is Mettawa which depicts a percentage self employed of 23.6% (approximately 3.1 times bigger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years the second smallest when sorted by median income for those under 25 years of age of all the other places in the local area at $100,972 of the total. Second, it has less than most other places in the metro area when sorted by median income-25 to 44 years at $126,685 of the total. Third, it has the second smallest in order of median income for those under 25 years of age of all the other places in the metropolitan area in terms of median income-45 to 64 years at $53,750 of the total.

Figure 9 breaks down the source of income and Knollwood CDP has the smallest proportion of income from wages at 1.1% of the total. Second, it has the smallest proportion of self employment income at 8.6% 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 With Retirement Income of 16.8% which is less than most other places in the greater region. The place with the highest households with retirement income in the area is Lake Forest which depicts a households with retirement income of 24.0% (42.6% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the percentage of overall family income the second smallest when ranked by overall family income of all the other places in the greater region at $120,952 of the total. Second, it has in the center range of other places in the local area as measured by hawaiian family income at $71,196 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Knollwood CDP depicts it has the hightest cost of 147.6 for the cost of housing classification.

Knollwood CDP 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 15.6% to 5.7% in February 2020. This represents a decrease in the monthly unemployment rate of 63.5%. Since that time, the monthly unemployment rate has gone to 7.0% This represents an increase in the monthly unemployment rate of 22.8%. 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 depicts that from February 2010 to before the disasterous Coronavirus Pandemic the monthly labor force participation went from 9,024 to 9,001 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 9,194 This represents an increase in the monthly labor force participation of 2.1%.

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 Knollwood CDP shows it has a Unemployment Rate of 3.7% which is the highest of all places in the metro area. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Knollwood CDP shows it has a Labor Force Participation of 64.9% which is the third most of all other places in the metro 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). Knollwood CDP has the largest proportion of employed at 3.7% 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. Knollwood CDP depicts full time employees markedly 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 Knollwood CDP area. Knollwood CDP depicts it has a Single Earner Families of 20.2% which is the smallest in terms of families with a single earner of all the other places in the area. The place with the highest families with a single earner in the area is Lake Forest which depicts a single earners rate of 40.1% (about twice as large). The percentage of families with no one working is depicted in Figure 22. Knollwood CDP depicts it has a Families with No One Working of 19.6% which is the largest of all places in the greater Knollwood CDP region.

Knollwood CDP Illinois Poverty Charts

The next section details economy analysis about poverty for residents of the Knollwood CDP 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. Knollwood CDP depicts it has a Total In Poverty of 46 which is the second smallest in order of total people earning less than the poverty level of all the other places in the greater region. The place with the highest total people earning less than the poverty level in the area is North Chicago which depicts a total people earning less than the poverty level of 4,214 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Knollwood CDP depicts it has a Percent of Population In Poverty of 2.9% which is less than most other places in the metro area. The place with the highest percent of people earning less than the poverty level in the area is North Chicago which shows a percent of people in poverty of 21.2% ( considerably bigger).

In Figure 25 people who are in poverty are broken out by age group. Knollwood CDP has the largest proportion of person in poverty under 12 years at 20% of the total and is ranked #1. Second, it has the largest proportion of person in poverty 55 to 64 years at 63% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Knollwood CDP has the percentage of married with children and in poverty in the mid point range of other places in the surrounding region at 7% of the total. Second, it has in the mid range of other places in the local area when ranked by unmarried with children and in poverty at 7% of the total. 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.) Knollwood CDP shows it has a Public Assistance Percent of 9.1% which is the second most households with public assistance of all the places in the greater Knollwood CDP region. The place with the highest households with public assistance in the area is North Chicago which shows a households with public assistance of 21.2% (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). Knollwood CDP shows it has a Gini Index of 39.5% which is the smallest in terms of the gini index of all the other places in the greater region.

Knollwood CDP 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 Knollwood CDP 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.) Knollwood CDP has the smallest proportion of people who drive a car or motorcycle to work at 1% of the total. Second, it has the smallest proportion of people who bicycle or walk to work at 3% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Knollwood CDP or elsewhere.) Knollwood CDP has the largest proportion of people who drove alone at 84% of the total and is ranked #1. Second, it has the largest proportion of people who carpooled at 11% of the total and is ranked #1. Third, it has the smallest proportion of people who work from home at 3% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Knollwood CDP has one of the largest proportions of people who leave for work between 12am to 5am at 4% of the total and is ranked #2. The only larger place being North Chicago with 5%. Second, it has the largest proportion of people who leave for work between 5am to 530am at 8% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 530 am to 6am at 4% of the total. Also, it has the smallest proportion of people who leave for work between 6am to 630am at 1% of the total. In addition, it has the smallest proportion of people who leave for work between 630 am to 7am at 11% of the total. Furthermore, it has the largest proportion of people who leave for work between 7am to 730am at 22% of the total and is ranked #1. Next it has the largest proportion of people who leave for work between 9am to 10am at 14% of the total and is ranked #1. Additionally, it has the largest proportion of people who leave for work between 12noon to 4pm at 9% 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. Knollwood CDP has the smallest proportion of people with commute time of less than 5 minutesutes at 3% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 17% of the total and is ranked #3. Only #2 Green Oaks (19%), and #1 North Chicago (25%) are larger. Third, it has the smallest proportion of people with commute time between 10 to 14 minutes at 11% of the total. Also, it has the largest proportion of people with commute time between 15 to 19 minutes at 25% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 35 to 39 minutes at 10% of the total and is ranked #1.

The average commute time is shown in Figure 37. Knollwood CDP depicts it has a Avg Commute Time of 24 which is the second smallest when ranked by average commute time of all the other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Knollwood CDP shows average commute time in minutes for men approximately three-fourths the size as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Knollwood CDP has one of the largest proportions of no vehicle available at 15% of the total and is ranked #2. The only larger place being North Chicago with 32%. Second, it has the smallest proportion of 1 vehicle available at 38% of the total. Third, it has the largest proportion of 3 vehicles available at 14% of the total and is ranked #1. Also, it has the largest proportion of 4 vehicles available at 7% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Knollwood CDP depicts it has a Work in city or place where live of 11% which is the smallest in terms of people who both work and live in the same city of all the other places in the metro area. The place with the highest people who both work and live in the same city in the area is North Chicago which shows a people who both work and live in the same city of 58% ( markedly bigger). Comparing people who both work and live in the same city to the United States average of 42%, Knollwood CDP is approximately a quarter the size. Also, measured against the state of Illinois, people who both work and live in the same city of 38%, Knollwood CDP is approximately a third the size.

Knollwood CDP 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. Knollwood CDP depicts it has the hightest median earnings of $102,125 for the management, business, and financial occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Knollwood CDP indicates it has the hightest median earnings of $104,286 for the management, business, and financial occupations category. The table in Figure 48, shows Knollwood CDP employment data in terms of job categories and salary data.

Knollwood CDP 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. Knollwood CDP depicts it has the hightest entrepreneurs of 100% 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. Knollwood CDP depicts it has the hightest entrepreneurs of 53% for the self employed in professional, scientific, management, administrative services group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Knollwood CDP shows it has a Self Employment Income of $18,421 which is the second smallest when sorted by average annual self employment income of all the other places in the local area. The place with the highest average annual self employment income in the area is Lake Forest which depicts an average annual self employment income of $102,011 ( substantially bigger). Comparing average annual self employment income to the United States average of $39,154, Knollwood CDP is approximately half the size. Also, measured against the state of Illinois, average annual self employment income of $38,734, Knollwood CDP is approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Knollwood CDP depicts total number of self-employed men 7.1% larger as the total number of self-employed women.