New Salem Illinois Income Charts

This section shows the New Salem Illinois economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, New Salem depicts it has a Median earnings of $73,519 which is the highest of all places in the greater New Salem region. Comparing median earnings per worker to the United States average of $49,041, New Salem is 49.9% larger. Also, measured against the state of Illinois, median earnings per worker of $52,292, New Salem is 40.6% 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 $47,778 which is the third most median income of all other places in the greater New Salem region. The city with the highest median household income in the area is El Dara which shows a median income of $96,964 (about twice as large). Comparing median household income to the United States average of $62,843, New Salem is approximately three-fourths the size. Also, compared to the state of Illinois, median household income of $65,886, New Salem is approximately three-fourths the size.

The next section examines a variety of different income statistics for the New Salem metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 16.6% of the total and is ranked #1. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 11.3% of the total and is ranked #1. Third, it has the smallest proportion of earnings between $15,000 and $19,999 at 6.0% of the total. Also, it has the largest proportion of earnings between $50,000 and $74,999 at 22.5% 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 a Avg Hours Worked of 37.7 which is less than most other places in the local area. The city with the highest average hours in the area is Griggsville which shows an average hours of 39.5 (only about 4.8% larger). 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 $37.50 which is more than all other places in the greater New Salem region. Comparing average hourly earnings to the United States average of $24.31, New Salem is 54.3% larger. Also, in comparison with the state of Illinois, average hourly earnings of $26.05, New Salem is 43.9% larger.

Figure 7 examines the number of self employed people in the New Salem metro area based on the number of people who reported any self employment income. New Salem depicts it has a Self Employed of 30.8% which is at the top of all other places in the greater New Salem region.

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $162,778 of the total and is ranked #1.

Figure 9 breaks down the source of income and New Salem has the largest proportion of income from wages at 33.5% of the total and is ranked #1. Second, it has the smallest proportion of self employment income at 5.5% of the total. Third, it has the smallest proportion of investment and retirement income at 7.2% 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 27.9% which is the second most households with retirement income of all the places in the greater New Salem region. The city with the highest households with retirement income in the area is Perry which depicts a households with retirement income of 41.4% (48.6% 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 less than most other places in the greater region at $55,938 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. New Salem depicts it has the hightest cost of 99.8 for the cost of healthcare grouping.

New Salem 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 shows that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly unemployment rate went from 9.8% to 2.7% in February 2020. This represents a decrease in the monthly unemployment rate of 72.4%. Since that time, the monthly unemployment rate has gone to 4.0% This represents an increase in the monthly unemployment rate of 48.1%. 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 February 2010 to before the Coronavirus Pandemic the monthly labor force participation went from 20,418 to 18,633 in February 2020. This represents a decrease in the monthly labor force participation of 8.7%. Since that time, the monthly labor force participation has gone to 19,643 This represents an increase in the monthly labor force participation of 5.4%.

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 New Salem depicts it has a Unemployment Rate of 1.0% which is less than most other places in the metro area. The city with the highest unemployment rate in the area is Griggsville which depicts a rate of 5.2% ( considerably bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. New Salem shows it has a Labor Force Participation of 69.4% which is the second most of all the places in the metro area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. New Salem depicts full time employees approximately 2.7 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 New Salem area. New Salem depicts it has a Single Earner Families of 18.8% which is the second smallest in terms of families with a single earner of all the other places in the local area. The city with the highest families with a single earner in the area is Baylis which shows a single earners rate of 36.0% (about twice as large). The percentage of families with no one working is depicted in Figure 22. New Salem shows it has a Families with No One Working of 2.1% which is the smallest as measured by families with no one working of all the other places in the greater region. The city with the highest families with no one working in the area is Baylis which depicts a families with no worker of 28.0% ( substantially bigger).

New Salem Illinois Poverty Charts

The next section details economy analysis about poverty for residents of the New Salem 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. New Salem depicts it has a Total In Poverty of 48 which is in the mid range of other places in the local area. The city with the highest total people earning less than the poverty level in the area is Pittsfield which depicts a total people earning less than the poverty level of 444 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. New Salem shows it has a Percent of Population In Poverty of 17.7% which is the second most percent of people earning less than the poverty level of all the places in the greater New Salem region. The city with the highest percent of people earning less than the poverty level in the area is Barry which shows a percent of people in poverty of 18.6% (only about 5.2% larger).

In Figure 25 people who are in poverty are broken out by age group. New Salem has the percentage of person in poverty 18 to 34 years the second smallest in terms of person in poverty under 12 years of all the other places in the metropolitan area at 10% of the total. Second, it has one of the largest proportions of person in poverty 35 to 54 years at 15% of the total and is ranked #3. Only #2 Pittsfield (15%), and #1 Griggsville (17%) are larger. Third, it has the largest proportion of person in poverty 55 to 64 years at 27% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. New Salem has the percentage of married with children and in poverty the second smallest when ranked by married with children and in poverty of all the other places in the local area at 24% of the total. Second, it has in the center range of other places in the greater region as measured by unmarried with children and in poverty at 36% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. New Salem has the largest proportion of less than highschool in poverty at 36% of the total and is ranked #1. Second, it has the largest proportion of has some college and in poverty at 38% 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.) New Salem shows it has a Public Assistance Percent of 23.1% which is the second most of all the places in the metro area. The city with the highest households with public assistance in the area is Baylis which shows a households with public assistance of 49.1% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). New Salem depicts it has a Gini Index of 47.7% which is ranked #1 of all places in the greater New Salem region.

New Salem 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 New Salem 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.) New Salem has the largest proportion of people who bicycle or walk to work at 29% 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 New Salem or elsewhere.) New Salem has the smallest proportion of people who drove alone at 67% of the total. Second, it has the second smallest when sorted by people who drove alone of all the other places in the local area as measured by people who carpooled at 2% of the total. Third, it has the largest proportion of people who work from home at 29% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. New Salem has the smallest proportion of people who leave for work between 12am to 5am at 1% of the total. Second, it has the largest proportion of people who leave for work between 530 am to 6am at 39% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 10am to 11am at 6% 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. New Salem has the percentage of people with commute time of less than 5 minutesutes less than most other places in the local area at 5% of the total. Second, it has the second smallest when ranked by people with commute time of less than 5 minutes of all the other places in the area in order of people with commute time between 5 to 9 minutes at 3% of the total. Third, it has one of the largest proportions of people with commute time between 10 to 14 minutes at 25% of the total and is ranked #2. The only larger city being El Dara with 47%. Also, it has the largest proportion of people with commute time between 45 to 59 minutes at 27% of the total and is ranked #1.

The average commute time is shown in Figure 37. New Salem shows it has a Avg Commute Time of 35 which is the second most average commute time of all the places in the greater New Salem region. Figure 38 shows the difference between male versus female commuting time. New Salem depicts average commute time in minutes for men approximately half the size as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and New Salem has the percentage of no vehicle available the second smallest when ranked by no vehicle available of all the other places in the greater region at 15% of the total. Second, it has in the mid range of other places in the metro area when ranked by 1 vehicle available at 25% of the total. Third, it has the smallest proportion of 2 vehicles available at 8% of the total. Also, it has the largest proportion of 3 vehicles available at 45% of the total and is ranked #1. In addition, it has one of the largest proportions of 4 vehicles available at 7% of the total and is ranked #2. The only larger city being Perry with 7%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) New Salem shows it has a Work in city or place where live of 32% which is the third most people who both work and live in the same city of all other places in the greater New Salem region. The city with the highest people who both work and live in the same city in the area is Pittsfield which depicts a people who both work and live in the same city of 54% (67.4% larger). Comparing people who both work and live in the same city to the United States average of 42%, New Salem is approximately three-fourths the size. Also, versus the state of Illinois, people who both work and live in the same city of 38%, New Salem is about 19.6% smaller.

New Salem 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. New Salem shows it has the hightest median earnings of $78,640 for the earnings-natural resources, construction, maintenance occupations category. The table in Figure 48, shows New Salem employment data in terms of job categories and salary data.

New Salem 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. New Salem depicts it has the hightest entrepreneurs of 100% for the self employed in service businesses aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. New Salem shows it has a Self Employment Income of $69,147 which is at the top of all other places in the greater New Salem region. Comparing average annual self employment income to the United States average of $39,154, New Salem is 76.6% larger. Also, compared to the state of Illinois, average annual self employment income of $38,734, New Salem is 78.5% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) New Salem depicts total number of self-employed men approximately 4.9 times bigger as the total number of self-employed women.