Spencer County Income Charts

This section shows the Spencer 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, Spencer County shows it has a Median earnings of $47,577 which is the third most median earnings of all other counties in the greater Spencer County region. The county with the highest median earnings per worker in the area is Warrick County which shows a median earnings of $56,779 (19.3% larger). Comparing median earnings per worker to the United States average of $53,269, Spencer County is about 12.0% smaller. Also, versus the state of Indiana, median earnings per worker of $48,985, Spencer County is only about 3.0% 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 $59,624 which is in the center range of other counties in the metro area. The county with the highest median household income in the area is Warrick County which depicts a median income of $85,613 (43.6% larger). Comparing median household income to the United States average of $69,021, Spencer County is about 15.8% smaller. Also, benchmarked against the state of Indiana, median household income of $61,944, Spencer County is only about 3.9% smaller.

The next section examines a variety of different income statistics for the Spencer County metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $10,000 and $14,999 at 3.3% 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 40.1 which is less than most other counties in the local area. The county with the highest average hours in the area is Dubois County which shows an average hours of 41.4 (only about 3.2% 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 $22.82 which is the third most of all other counties in the metropolitan area. The county with the highest average hourly earnings in the area is Warrick County which depicts an average hourly earnings of $27.23 (19.3% larger). Comparing average hourly earnings to the United States average of $26.40, Spencer County is about 15.7% smaller. Also, compared to the state of Indiana, average hourly earnings of $24.28, Spencer County is about 6.4% smaller.

Figure 7 examines the number of self employed people in the Spencer County metro area based on the number of people who reported any self employment income. Spencer County shows it has a Self Employed of 8.4% which is less than most other counties in the local area. The county with the highest percentage of people self employed in the area is Dubois County which shows a percentage self employed of 10.1% (20.3% larger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $83,021 of the total and is ranked #2. The only larger county being Warrick County with $92,553. Second, it has in the mid range of other counties in the metropolitan area in terms of median income-25 to 44 years at $76,000 of the total. Third, it has the second smallest as measured by median income for those under 25 years of age of all the other counties in the local area when sorted by median income-45 to 64 years at $40,234 of the total.

Figure 9 breaks down the source of income and Spencer County has the smallest proportion of self employment 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 23.3% which is the second smallest in terms of households with retirement income of all the other counties in the metro area. The county with the highest households with retirement income in the area is Hancock County which shows a households with retirement income of 30.7% (31.4% 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 $84,870 of the total and is ranked #2. The only larger county being Warrick County with $99,137. Second, it has less than most other counties in the area when ranked by white family income at $49,250 of the total. Third, it has one of the largest proportions of hawaiian family income at $45,139 of the total and is ranked #2. The only larger county being Dubois County with $46,122.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Spencer County indicates it has the hightest cost of 120.0 for the cost of utilities group.

Spencer County Labor Force Charts

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 disasterous Covid-19 virus Pandemic it went from 4.6% to 3.1% in December 2019. This represents a decrease in the monthly unemployment rate of 32.6%. Since that time, the monthly unemployment rate has gone to 3.1%. This represents an increase in the monthly unemployment rate of very little. 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. The monthly labor force participation depicts that from January 2017 to before the disasterous Covid-19 virus Pandemic it went from 10,262 to 10,189 in November 2019. This represents a decrease in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 10,189. This represents an increase in the monthly labor force participation of very little.

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 Spencer County shows it has a Unemployment Rate of 2.1% which is less than most other counties in the area. The county with the highest unemployment rate in the area is Hancock County which depicts a rate of 3.0% (42.0% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Spencer County shows it has a Labor Force Participation of 62.4% which is the third most participation rates of all other counties in the greater Spencer County region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Spencer County shows full time employees approximately 4.5 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 Spencer County area. Spencer County shows it has a Single Earner Families of 24.6% which is in the middle range of other counties in the greater region. The county with the highest families with a single earner in the area is Hancock County which shows a single earners rate of 32.6% (32.6% larger). The percentage of families with no one working is depicted in Figure 22. Spencer County depicts it has a Families with No One Working of 17.1% which is less than most other counties in the local area. The county with the highest families with no one working in the area is Pike County which shows a families with no worker of 22.8% (33.4% larger).

Spencer County Poverty Charts

The next section details economy analysis about poverty for residents of the Spencer County 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. Spencer County depicts it has a Total In Poverty of 1,457 which is less than most other counties in the metro area. The county with the highest total people earning less than the poverty level in the area is Daviess County which depicts a total people earning less than the poverty level of 14,727 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Spencer County depicts it has a Percent of Population In Poverty of 7.4% which is the second smallest in terms of percent of people earning less than the poverty level of all the other counties in the surrounding region. The county with the highest percent of people earning less than the poverty level in the area is Daviess County which depicts a percent of people in poverty of 14.8% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Spencer County has the largest proportion of person in poverty 55 to 64 years at 22% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Spencer County has the percentage of hawaiian poverty rate less than most other counties in the local area at 6% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Spencer County has the smallest proportion of unmarried female with children and in poverty at 1% 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.) Spencer County depicts it has a Public Assistance Percent of 7.7% which is less than most other counties in the surrounding region. The county with the highest households with public assistance in the area is Daviess County which depicts a households with public assistance of 11.1% (44.7% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Spencer County depicts it has a Gini Index of 45.3% which is the second most of all the counties in the local area.

Spencer County Work Commute Charts

In Figure 35 is shown a frequency distribution of the time that people leave for work. Spencer County has the largest proportion of people who leave for work between 12am to 5am at 9% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 530 am to 6am at 15% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 7am to 730am at 7% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Spencer County has the smallest proportion of people with commute time of less than 5 minutesutes at 8% of the total. Second, it has in the mid point range of other counties in the area as measured by people with commute time between 5 to 9 minutes at 13% of the total. Third, it has the largest proportion of people with commute time between 45 to 59 minutes at 8% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 60 to 89 minutes at 1% of the total.

The average commute time is shown in Figure 37. Spencer County shows it has a Avg Commute Time of 27 which is the second most of all the counties in the area. Figure 38 shows the difference between male versus female commuting time. Spencer County shows average commute time in minutes for men 20.2% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Spencer County has the percentage of no vehicle available less than most other counties in the metro area at 11% of the total. Second, it has the smallest proportion of 1 vehicle available at 27% of the total. Third, it has the largest proportion of 2 vehicles available at 37% of the total and is ranked #1. Also, it has one of the largest proportions of 4 vehicles available at 10% of the total and is ranked #2. The only larger county being Hancock County with 11%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Spencer County shows it has a Work in city or place where live of 17% which is less than most other counties in the metro area. The county with the highest people who both work and live in the same city in the area is Daviess County which shows a people who both work and live in the same city of 62% (approximately 3.5 times bigger). Comparing people who both work and live in the same city to the United States average of 44%, Spencer County is approximately half the size. Also, in comparison with the state of Indiana, people who both work and live in the same city of 49%, Spencer County is approximately a third the size.

Spencer County 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. Spencer County depicts it has the hightest median earnings of $105,912 for the earnings-computer, engineering, and science occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Spencer County shows it has the hightest median earnings of $56,604 for the management, business, and financial occupations classification. The table in Figure 48, shows Spencer County employment data in terms of job categories and salary data.

Spencer County 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. Spencer County depicts it has the hightest entrepreneurs of 69% 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. Spencer County shows it has the hightest entrepreneurs of 45% for the self employed in agriculture, forestry, fishing and hunting, and mining aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Spencer County shows it has a Self Employment Income of $33,344 which is the third most average annual self employment income of all other counties in the greater Spencer County region. The county with the highest average annual self employment income in the area is Warrick County which shows an average annual self employment income of $48,909 (46.7% larger). Comparing average annual self employment income to the United States average of $42,141, Spencer County is approximately three-fourths the size. Also, compared to the state of Indiana, average annual self employment income of $35,233, Spencer County is about 5.7% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Spencer County depicts total number of self-employed men 62.5% larger as the total number of self-employed women.