Park Forest Illinois Income Charts

This section shows the Park Forest Illinois economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Park Forest depicts it has a Median earnings of $46,095 which is in the mid range of other places in the metro area. The city with the highest median earnings per worker in the area is Olympia Fields which depicts a median earnings of $71,711 (55.6% larger). Comparing median earnings per worker to the United States average of $50,459, Park Forest is about 9.5% smaller. Also, versus the state of Illinois, median earnings per worker of $53,252, Park Forest is about 15.5% smaller.

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 $56,393 which is less than most other places in the greater region. The city with the highest median household income in the area is Olympia Fields which shows a median income of $93,350 (65.5% larger). Comparing median household income to the United States average of $64,994, Park Forest is about 15.3% smaller. Also, in comparison with the state of Illinois, median household income of $68,428, Park Forest is about 21.3% smaller.

The next section examines a variety of different income statistics for the Park Forest metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 in the mid point range of other places in the metro area at 5.5% 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 38.0 which is the third most average hours of all other places in the greater Park Forest region. The city with the highest average hours in the area is Olympia Fields which depicts an average hours of 39.0 (only about 2.6% 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 $23.33 which is less than most other places in the local area. The city with the highest average hourly earnings in the area is Olympia Fields which depicts an average hourly earnings of $35.36 (51.6% larger). Comparing average hourly earnings to the United States average of $25.01, Park Forest is about 7.2% smaller. Also, compared to the state of Illinois, average hourly earnings of $26.46, Park Forest is about 13.4% smaller.

Figure 7 examines the number of self employed people in the Park Forest metro area based on the number of people who reported any self employment income. Park Forest shows it has a Self Employed of 6.0% which is the third most of all other places in the greater region. The city with the highest percentage of people self employed in the area is Matteson which depicts a percentage self employed of 8.7% (43.5% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years less than most other places in the metro area at $58,015 of the total. Second, it has less than most other places in the local area when ranked by median income-25 to 44 years at $65,625 of the total. Third, it has less than most other places in the metro area in order of median income-45 to 64 years at $40,452 of the total.

Figure 9 breaks down the source of income and Park Forest has the largest proportion of income from wages at 2.8% 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 With Retirement Income of 21.8% which is the third most of all other places in the local area. The city with the highest households with retirement income in the area is Olympia Fields which indicates a households with retirement income of 41.6% (about twice as large).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $73,889 of the total and is ranked #3. Only #2 Richton Park ($77,813), and #1 Matteson ($84,808) are larger. Second, it has in the center range of other places in the greater region as measured by white family income at $64,259 of the total. Third, it has the largest proportion of hawaiian family income at $56,528 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. Park Forest shows it has the hightest cost of 116.1 for the cost of utilities grouping.

Park Forest 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 January 2010 to before the Wuhan virus Pandemic the monthly unemployment rate went from 14.9% to 8.6% in March 2020. This represents a decrease in the monthly unemployment rate of 42.3%. Since that time, the monthly unemployment rate has gone to 5.6% This represents a decrease in the monthly unemployment rate of 34.9%. 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 COVID-19 Pandemic the monthly labor force participation went from 10,359 to 10,381 in March 2020. This represents an increase in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 10,083 This represents a decrease in the monthly labor force participation of 2.9%.

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 Park Forest depicts it has a Unemployment Rate of 6.4% which is the third most unemployment rate of all other places in the greater Park Forest region. The city with the highest unemployment rate in the area is Richton Park which shows a rate of 9.0% (40.5% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Park Forest shows it has a Labor Force Participation of 63.5% which is in the middle range of other places in the surrounding region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Park Forest shows full time employees approximately 4.9 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 Park Forest area. Park Forest depicts it has a Single Earner Families of 37.9% which is the third most families with a single earner of all other places in the greater Park Forest region. The city with the highest families with a single earner in the area is South Chicago Heights which shows a single earners rate of 45.3% (19.8% larger). The percentage of families with no one working is depicted in Figure 22. Park Forest shows it has a Families with No One Working of 13.5% which is less than most other places in the local area. The city with the highest families with no one working in the area is Olympia Fields which shows a families with no worker of 24.6% (about twice as large).

Park Forest Illinois Poverty Charts

The next section details economy analysis about poverty for residents of the Park Forest 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. Park Forest depicts it has a Total In Poverty of 2,605 which is the second most of all the places in the local area. The city with the highest total people earning less than the poverty level in the area is Chicago Heights which depicts a total people earning less than the poverty level of 7,096 (approximately 2.7 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Park Forest depicts it has a Percent of Population In Poverty of 12.6% which is in the mid range of other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Chicago Heights which shows a percent of people in poverty of 24.3% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Park Forest has the largest proportion of person in poverty 18 to 34 years at 37% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Park Forest has one of the largest proportions of american indian poverty rate at 38% of the total and is ranked #2. The only larger city being Chicago Heights with 41%. Second, it has less than most other places in the local area in terms of hawaiian poverty rate at 10% 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.) Park Forest depicts it has a Public Assistance Percent of 15.7% which is less than most other places in the metro area. The city with the highest households with public assistance in the area is University Park which depicts a households with public assistance of 24.4% (55.3% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Park Forest depicts it has a Gini Index of 37.0% which is the second smallest in terms of the gini index of all the other places in the greater region.

Park Forest Illinois Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Park Forest or elsewhere.) Park Forest has the largest proportion of people who take the bus at 2% of the total and is ranked #1. Second, it has the largest proportion of people who bike at 0% 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. Park Forest has the percentage of people with commute time of less than 5 minutesutes in the mid range of other places in the greater region at 8% of the total.

The average commute time is shown in Figure 37. Park Forest depicts it has a Avg Commute Time of 32 which is less than most other places in the surrounding region. Figure 38 shows the difference between male versus female commuting time. Park Forest depicts average commute time in minutes for men about 23.1% smaller as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Park Forest has the largest proportion of no vehicle available at 33% of the total and is ranked #1. Second, it has less than most other places in the local area when sorted by 3 vehicles available at 5% of the total. Third, it has the smallest proportion of 4 vehicles available at 1% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Park Forest shows it has a Work in city or place where live of 10% which is in the center range of other places in the surrounding region. The city with the highest people who both work and live in the same city in the area is Chicago Heights which depicts a people who both work and live in the same city of 22% (about twice as large). Comparing people who both work and live in the same city to the United States average of 43%, Park Forest is approximately a quarter the size. Also, benchmarked against the state of Illinois, people who both work and live in the same city of 40%, Park Forest is approximately a quarter the size.

Park Forest 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. Park Forest depicts it has the hightest median earnings of $71,313 for the earnings-computer, engineering, and science occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Park Forest shows it has the hightest median earnings of $80,063 for the earnings-protective service occupations grouping. The table in Figure 48, shows Park Forest employment data in terms of job categories and salary data.

Park Forest 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. Park Forest depicts it has the hightest entrepreneurs of 37% for the self employed management, business, science, and arts businesses category.

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. Park Forest depicts it has the hightest entrepreneurs of 21% for the self employed in transportation, warehousing, and utilities grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Park Forest depicts it has a Self Employment Income of $28,701 which is the second most average annual self employment income of all the places in the greater Park Forest region. The city with the highest average annual self employment income in the area is Olympia Fields which shows an average annual self employment income of $38,747 (35.0% larger). Comparing average annual self employment income to the United States average of $40,101, Park Forest is approximately three-fourths the size. Also, measured against the state of Illinois, average annual self employment income of $38,871, Park Forest is approximately three-fourths the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Park Forest shows total number of self-employed men 7.6% larger as the total number of self-employed women.