This section shows the Lake County Indiana economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake County depicts it has a Median earnings of $52,061 which is in the center range of other counties in the greater region. The county with the highest median earnings per worker in the area is Will County which depicts a median earnings of $62,993 (21.0% larger). Comparing median earnings per worker to the United States average of $53,269, Lake County is only about 2.3% smaller. Also, versus the state of Indiana, median earnings per worker of $48,985, Lake County is 6.3% 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 $62,052 which is less than most other counties in the metropolitan area. The county with the highest median household income in the area is Will County which depicts a median income of $95,751 (54.3% larger). Comparing median household income to the United States average of $69,021, Lake County is about 11.2% smaller. Also, versus the state of Indiana, median household income of $61,944, Lake County is about the same size. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $25.80 which is in the middle range of other counties in the surrounding region. The county with the highest average hourly earnings in the area is Will County which depicts an average hourly earnings of $31.30 (21.3% larger). Comparing average hourly earnings to the United States average of $26.40, Lake County is only about 2.3% smaller. Also, versus the state of Indiana, average hourly earnings of $24.28, Lake County is 6.3% larger.
Figure 5 examines the number of self employed people in the Lake County metro area based on the number of people who reported any self employment income. Lake County shows it has a Self Employed of 6.6% which is the smallest in order of percentage of people self employed of all the other counties in the local area. The county with the highest percentage of people self employed in the area is Jasper County which depicts a percentage self employed of 13.8% (about twice as large).
Figure 6 breaks down the source of income and Lake County has the smallest proportion of income from wages at 2.5% of the total.
The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 25.2% which is the third most of all other counties in the area. The county with the highest households with retirement income in the area is LaPorte County which depicts a households with retirement income of 26.0% (only about 3.2% larger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Lake County shows full time employees approximately 3.3 times bigger as the part time employees.
Similar to the last chart is Figure 9 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. Lake County depicts it has the hightest entrepreneurs of 17% for the self employed in construction aggregate.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Lake County shows it has the hightest cost of 117.3 for the cost of utilities classification.
Lake County Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake County depicts it has a Percent of Population In Poverty of 14.7% which is ranked #1 of all counties in the greater Lake County region.
Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Lake County shows it has a Public Assistance Percent of 12.9% which is the third most households with public assistance of all other counties in the greater Lake County region. The county with the highest households with public assistance in the area is Kankakee County which indicates a households with public assistance of 16.6% (28.1% larger).
Lake County Labor Force Charts
The table in Figure 13, shows Lake County employment data in terms of job categories and salary data.
The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the COVID-19 Pandemic it went from 6.3% to 4.8% in December 2019. This represents a decrease in the monthly unemployment rate of 23.8%. Since that time, the monthly unemployment rate has gone to 4.8%. This represents an increase in the monthly unemployment rate of very little.
Lake County Jobs Charts
In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.
Figure 16 shows the average median earnings for different categories of jobs.
Lake County Work Commute Charts
Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Lake County or elsewhere.) Lake County has the largest proportion of people who take the ferry at 0% of the total and is ranked #1.
Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.
The average commute time is shown in Figure 21. Lake County depicts it has a Avg Commute Time of 29 which is in the mid range of other counties in the metro area.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.