Taylor Springs Illinois Income Charts

This section shows the Taylor Springs Illinois economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Taylor Springs shows it has a Median earnings of $40,000 which is the third most of all other places in the local area. The city with the highest median earnings per worker in the area is Butler which depicts a median earnings of $42,411 (6.0% larger). Comparing median earnings per worker to the United States average of $49,041, Taylor Springs is about 22.6% smaller. Also, in comparison with the state of Illinois, median earnings per worker of $52,292, Taylor Springs is approximately three-fourths the size.

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 $47,500 which is the third most median income of all other places in the greater Taylor Springs region. The city with the highest median household income in the area is Hillsboro which depicts a median income of $53,346 (12.3% larger). Comparing median household income to the United States average of $62,843, Taylor Springs is approximately three-fourths the size. Also, measured against the state of Illinois, median household income of $65,886, Taylor Springs is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Taylor Springs 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 10.2% of the total. Second, it has the largest proportion of earnings between $50,000 and $74,999 at 6.1% 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 37.5 which is the third most average hours of all other places in the greater Taylor Springs region. The city with the highest average hours in the area is Hillsboro which depicts an average hours of 39.0 (only about 4.0% 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 $20.51 which is the third most of all other places in the metro area. The city with the highest average hourly earnings in the area is Butler which depicts an average hourly earnings of $21.02 ( only slightly larger). Comparing average hourly earnings to the United States average of $24.31, Taylor Springs is about 18.5% smaller. Also, compared with the state of Illinois, average hourly earnings of $26.05, Taylor Springs is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Taylor Springs metro area based on the number of people who reported any self employment income. Taylor Springs depicts it has a Self Employed of 4.2% which is the second smallest in terms of percentage of people self employed of all the other places in the metro area. The city with the highest percentage of people self employed in the area is Schram City which shows a percentage self employed of 9.5% (approximately 2.3 times bigger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-25 to 44 years at $57,917 of the total and is ranked #2. The only larger city being Hillsboro with $68,333. Second, it has in the mid range of other places in the metro area as measured by median income-45 to 64 years at $26,875 of the total.

Figure 9 breaks down the source of income and Taylor Springs has the largest proportion of self employment income at 32.7% of the total and is ranked #1. Second, it has the smallest proportion of investment and retirement income at 10.2% 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 32.8% which is the second most households with retirement income of all the places in the greater Taylor Springs region. The city with the highest households with retirement income in the area is Schram City which indicates a households with retirement income of 33.3% ( only slightly larger).

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 $52,188 of the total and is ranked #3. Only #2 Schram City ($56,750), and #1 Hillsboro ($68,652) are larger.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Taylor Springs depicts it has the hightest cost of 106.5 for the cost of healthcare grouping.

Taylor Springs 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 14.8% to 3.8% in February 2020. This represents a decrease in the monthly unemployment rate of 74.3%. Since that time, the monthly unemployment rate has gone to 7.0% This represents an increase in the monthly unemployment rate of 84.2%. 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 Pandemic the monthly labor force participation went from 12,455 to 11,286 in February 2020. This represents a decrease in the monthly labor force participation of 9.4%. Since that time, the monthly labor force participation has gone to 11,828 This represents an increase in the monthly labor force participation of 4.8%.

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 Taylor Springs shows it has a Unemployment Rate of 0.4% which is the smallest in terms of unemployment rate of all the other places in the greater region. The city with the highest unemployment rate in the area is Donnellson which shows a rate of 10.9% ( markedly bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Taylor Springs shows it has a Labor Force Participation of 44.1% which is less than most other places in the greater region.

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). Taylor Springs has the smallest proportion of employed at 0.4% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Taylor Springs shows full time employees approximately 3.1 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 Taylor Springs area. Taylor Springs shows it has a Single Earner Families of 36.7% which is the third most families with a single earner of all other places in the greater Taylor Springs region. The city with the highest families with a single earner in the area is Donnellson which depicts a single earners rate of 47.6% (29.9% larger). The percentage of families with no one working is depicted in Figure 22. Taylor Springs shows it has a Families with No One Working of 24.4% which is less than most other places in the area. The city with the highest families with no one working in the area is Irving which depicts a families with no worker of 36.4% (48.8% larger).

Taylor Springs Illinois Poverty Charts

The next section details economy analysis about poverty for residents of the Taylor Springs 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. Taylor Springs depicts it has a Total In Poverty of 95 which is in the center range of other places in the greater region. The city with the highest total people earning less than the poverty level in the area is Hillsboro which depicts a total people earning less than the poverty level of 905 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Taylor Springs depicts it has a Percent of Population In Poverty of 19.3% which is in the middle range of other places in the metro area. The city with the highest percent of people earning less than the poverty level in the area is Irving which shows a percent of people in poverty of 37.4% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Taylor Springs has one of the largest proportions of person in poverty 12 to 17 years at 47% of the total and is ranked #2. The only larger city being Schram City with 59%. Second, it has in the middle range of other places in the local area in terms of person in poverty 55 to 64 years at 9% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Taylor Springs has one of the largest proportions of married with children and in poverty at 35% of the total and is ranked #3. Only #2 Irving (80%), and #1 Hillsboro (100%) are larger. 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 in the mid range of other places in the area when ranked by unmarried female with children and in poverty at 6% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Taylor Springs has the percentage of less than highschool in poverty the second smallest in order of less than highschool in poverty of all the other places in the greater region at 7% of the total. Second, it has the largest proportion of highschool graduate and in poverty at 32% of the total and is ranked #1. Third, it has one of the largest proportions of has some college and in poverty at 30% of the total and is ranked #2. The only larger city being Irving with 33%. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Taylor Springs has one of the largest proportions of people who are in poverty and unemployed at 33.7% of the total and is ranked #2. The only larger city being Donnellson with 37.3%. 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.) Taylor Springs depicts it has a Public Assistance Percent of 21.8% which is in the mid point range of other places in the local area. The city with the highest households with public assistance in the area is Donnellson which shows a households with public assistance of 46.3% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Taylor Springs indicates it has a Gini Index of 49.3% which is the largest of all places in the metro area.

Taylor Springs Illinois Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Taylor Springs or elsewhere.) Taylor Springs has the smallest proportion of people who drove alone at 78% of the total. Second, it has the largest proportion of people who carpooled at 15% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Taylor Springs has the largest proportion of people who leave for work between 530 am to 6am at 27% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 7am to 730am at 22% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 730 am to 8am at 2% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Taylor Springs has the largest proportion of people with commute time of less than 5 minutesutes at 35% 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 when sorted by people with commute time between 5 to 9 minutes at 8% of the total. Third, it has the second smallest in terms of 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 7% of the total. Also, it has the largest proportion of people with commute time between 40 to 44 minutes at 14% of the total and is ranked #1. In addition, it has the smallest proportion of people with commute time between 45 to 59 minutes at 4% of the total.

The average commute time is shown in Figure 37. Taylor Springs depicts it has a Avg Commute Time of 20 which is the smallest in terms of average commute time of all the other places in the area. Figure 38 shows the difference between male versus female commuting time. Taylor Springs depicts average commute time in minutes for men approximately 2.5 times bigger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Taylor Springs has the largest proportion of no vehicle available at 31% of the total and is ranked #1. Second, it has one of the largest proportions of 1 vehicle available at 45% of the total and is ranked #3. Only #2 Butler (49%), and #1 Hillsboro (51%) are larger. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Taylor Springs depicts it has a Work in city or place where live of 5% which is the smallest when sorted by people who both work and live in the same city of all the other places in the local area. The city with the highest people who both work and live in the same city in the area is Hillsboro which depicts a people who both work and live in the same city of 37% ( very much bigger). Comparing people who both work and live in the same city to the United States average of 42%, Taylor Springs is approximately an eigth the size. Also, measured against the state of Illinois, people who both work and live in the same city of 38%, Taylor Springs is approximately an eigth the size.

Taylor Springs 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. Taylor Springs depicts it has the hightest median earnings of $43,750 for the earnings-natural resources, construction, maintenance occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Taylor Springs depicts it has the hightest median earnings of $46,875 for the earnings-education, legal, community service, arts, media occupations group. The table in Figure 48, shows Taylor Springs employment data in terms of job categories and salary data.

Taylor Springs 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. Taylor Springs indicates it has the hightest entrepreneurs of 100% for the self employed management, business, science, and arts businesses grouping.

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. Taylor Springs depicts it has the hightest entrepreneurs of 60% for the self employed in educational services, health care and social assistance aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Taylor Springs shows it has a Self Employment Income of $53,690 which is the most of all places in the greater Taylor Springs region. Comparing average annual self employment income to the United States average of $39,154, Taylor Springs is 37.1% larger. Also, measured against the state of Illinois, average annual self employment income of $38,734, Taylor Springs is 38.6% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Taylor Springs shows total number of self-employed men about 16.7% smaller as the total number of self-employed women.