Round Lake Beach Illinois Income Charts

This section shows the Round Lake Beach Illinois economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Round Lake Beach depicts it has a Median earnings of $42,699 which is less than most other places in the greater region. The city with the highest median earnings per worker in the area is Lake Villa which depicts a median earnings of $64,550 (51.2% larger). Comparing median earnings per worker to the United States average of $49,041, Round Lake Beach is about 14.9% smaller. Also, benchmarked against the state of Illinois, median earnings per worker of $52,292, Round Lake Beach is about 22.5% 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 $70,474 which is the second smallest when sorted by median household income of all the other places in the metro area. The city with the highest median household income in the area is Lake Villa which shows a median income of $105,341 (49.5% larger). Comparing median household income to the United States average of $62,843, Round Lake Beach is 12.1% larger. Also, compared to the state of Illinois, median household income of $65,886, Round Lake Beach is 7.0% larger.

The next section examines a variety of different income statistics for the Round Lake Beach metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 7.8% 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 39.2 which is less than most other places in the local area. The city with the highest average hours in the area is Lake Villa which shows an average hours of 40.7 (only about 3.8% 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 $20.95 which is less than most other places in the greater region. The city with the highest average hourly earnings in the area is Lake Villa which shows an average hourly earnings of $30.50 (45.6% larger). Comparing average hourly earnings to the United States average of $24.31, Round Lake Beach is about 16.0% smaller. Also, in comparison with the state of Illinois, average hourly earnings of $26.05, Round Lake Beach is about 24.4% smaller.

Figure 7 examines the number of self employed people in the Round Lake Beach metro area based on the number of people who reported any self employment income. Round Lake Beach depicts it has a Self Employed of 6.5% which is the second smallest in terms of percentage of people self employed of all the other places in the area. The city with the highest percentage of people self employed in the area is Round Lake Heights which depicts a percentage self employed of 10.3% (58.2% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the center range of other places in the surrounding region at $77,250 of the total. Second, it has the second smallest in order of median income for those under 25 years of age of all the other places in the metro area as measured by median income-25 to 44 years at $77,813 of the total. Third, it has the smallest proportion of median income-45 to 64 years at $40,568 of the total.

Figure 9 breaks down the source of income and Round Lake Beach has the largest proportion of income from wages at 4.0% 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 12.3% which is the second smallest in order of households with retirement income of all the other places in the metro area. The city with the highest households with retirement income in the area is Round Lake Park which shows a households with retirement income of 32.5% (approximately 2.7 times bigger).

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 in terms of overall family income of all the other places in the local area at $79,357 of the total. Second, it has the largest proportion of black family income at $70,515 of the total and is ranked #1. Third, it has in the mid range of other places in the metro area as measured by american indian family income at $107,000 of the total. Also, it has less than most other places in the surrounding region when ranked by hawaiian family income at $67,800 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. Round Lake Beach depicts it has the hightest cost of 117.3 for the cost of utilities group.

Round Lake Beach 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 virus Pandemic the monthly unemployment rate went from 20.5% to 8.3% in February 2020. This represents a decrease in the monthly unemployment rate of 59.5%. Since that time, the monthly unemployment rate has gone to 5.6% This represents a decrease in the monthly unemployment rate of 32.5%. 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 disasterous Covid-19 virus Pandemic the monthly labor force participation went from 16,293 to 15,118 in February 2020. This represents a decrease in the monthly labor force participation of 7.2%. Since that time, the monthly labor force participation has gone to 14,793 This represents a decrease 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 Round Lake Beach depicts it has a Unemployment Rate of 3.5% which is less than most other places in the greater region. The city with the highest unemployment rate in the area is Round Lake Heights which depicts a rate of 6.5% (about twice as large). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Round Lake Beach shows it has a Labor Force Participation of 72.1% which is in the mid range of other places in the metropolitan area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Round Lake Beach depicts full time employees approximately 4.2 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 Round Lake Beach area. Round Lake Beach shows it has a Single Earner Families of 25.3% which is in the mid range of other places in the surrounding region. The city with the highest families with a single earner in the area is Round Lake Park which depicts a single earners rate of 32.6% (28.9% larger). The percentage of families with no one working is depicted in Figure 22. Round Lake Beach shows it has a Families with No One Working of 9.5% which is the third most families with no one working of all other places in the greater Round Lake Beach region. The city with the highest families with no one working in the area is Round Lake Park which depicts a families with no worker of 25.0% (approximately 2.6 times bigger).

Round Lake Beach Illinois Poverty Charts

The next section details economy analysis about poverty for residents of the Round Lake Beach 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. Round Lake Beach shows it has a Total In Poverty of 2,676 which is the largest of all places in the metro area.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Round Lake Beach depicts it has a Percent of Population In Poverty of 9.8% which is the second most percent of people earning less than the poverty level of all the places in the greater Round Lake Beach region. The city with the highest percent of people earning less than the poverty level in the area is Round Lake Heights which depicts a percent of people in poverty of 13.2% (34.3% larger).

In Figure 25 people who are in poverty are broken out by age group. Round Lake Beach has the percentage of person in poverty 55 to 64 years in the mid range of other places in the local area at 6% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Round Lake Beach has the largest proportion of black poverty rate at 4% 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. Round Lake Beach has the largest proportion of highschool graduate and in poverty at 6% 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. Round Lake Beach has the percentage of people who are in poverty and employed less than most other places in the metro area at 3.0% of the total. Second, it has the largest proportion of people who are in poverty and unemployed at 17.5% 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.) Round Lake Beach depicts it has a Public Assistance Percent of 13.6% which is the third most households with public assistance of all other places in the greater Round Lake Beach region. The city with the highest households with public assistance in the area is Round Lake Heights which depicts a households with public assistance of 15.0% (10.3% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Round Lake Beach depicts it has a Gini Index of 39.6% which is the most of all places in the greater Round Lake Beach region.

Round Lake Beach 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 Round Lake Beach 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.) Round Lake Beach has the largest proportion of people who take public transportation to work at 1% 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 Round Lake Beach or elsewhere.) Round Lake Beach has the largest proportion of people who walked at 1% 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. Round Lake Beach has the smallest proportion of people with commute time between 45 to 59 minutes at 6% of the total.

The average commute time is shown in Figure 37. Round Lake Beach depicts it has a Avg Commute Time of 32 which is the second smallest as measured by average commute time of all the other places in the local area. Figure 38 shows the difference between male versus female commuting time. Round Lake Beach shows average commute time in minutes for men 31.0% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Round Lake Beach has one of the largest proportions of 4 vehicles available at 7% of the total and is ranked #3. Only #2 Venetian Village CDP (7%), and #1 Round Lake Heights (8%) are larger. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Round Lake Beach shows it has a Work in city or place where live of 11% which is the second most people who both work and live in the same city of all the places in the greater Round Lake Beach region. The city with the highest people who both work and live in the same city in the area is Lake Villa which depicts a people who both work and live in the same city of 12% (15.4% larger). Comparing people who both work and live in the same city to the United States average of 42%, Round Lake Beach is approximately a quarter the size. Also, benchmarked against the state of Illinois, people who both work and live in the same city of 38%, Round Lake Beach is approximately a third the size.

Round Lake Beach 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. Round Lake Beach depicts it has the hightest median earnings of $81,000 for the earnings-computer, engineering, and science occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Round Lake Beach shows it has the hightest median earnings of $64,375 for the management, business, and financial occupations aggregate. The table in Figure 48, shows Round Lake Beach employment data in terms of job categories and salary data.

Round Lake Beach 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. Round Lake Beach shows it has the hightest entrepreneurs of 53% 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. Round Lake Beach depicts it has the hightest entrepreneurs of 61% for the self employed in construction classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Round Lake Beach depicts it has a Self Employment Income of $51,733 which is the highest of all places in the greater Round Lake Beach region. Comparing average annual self employment income to the United States average of $39,154, Round Lake Beach is 32.1% larger. Also, benchmarked against the state of Illinois, average annual self employment income of $38,734, Round Lake Beach is 33.6% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Round Lake Beach depicts total number of self-employed men approximately 3.1 times bigger as the total number of self-employed women.