The State of Indiana Income Charts

This section shows the Indiana economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Indiana depicts it has a Median earnings of $48,985 which is less than most other states in the local area. The state with the highest median earnings per worker in the group is Illinois which depicts a median earnings of $56,393 (15.1% 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 $61,944 which is in the middle range of other states in the local area. The state with the highest median household income in the group is Illinois which depicts a median income of $72,563 (17.1% larger).

The next section examines a variety of different income statistics for the Indiana metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $15,000 and $19,999 at 32.2% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $50,000 and $74,999 at 8.1% of the total. Third, it has the smallest proportion of earnings between $75,000 and $99,999 at 9.2% 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 38.8 which is the largest of all states in the greater Indiana region. 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 $24.28 which is less than most other states in the metro area. The state with the highest average hourly earnings in the group is Illinois which depicts an average hourly earnings of $28.10 (15.7% larger).

Figure 7 examines the number of self employed people in the Indiana metro area based on the number of people who reported any self employment income. Indiana shows it has a Self Employed of 9.3% which is less than most other states in the local area. The state with the highest percentage of people self employed in the group is Wisconsin which depicts a percentage self employed of 9.9% (only about 5.5% larger).

Turning our attention to Figure 8, the median household income by age group, has the smallest proportion of median income-under 25 years at $68,146 of the total. Second, it has in the mid range of other states in the metro area in order of median income-25 to 44 years at $75,767 of the total. Third, it has the smallest proportion of median income-45 to 64 years at $45,864 of the total.

Figure 9 breaks down the source of income and Indiana has the smallest proportion of self employment income at 11.3% 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 22.5% which is in the mid range of other states in the greater region. The state with the highest households with retirement income in the group is Michigan which depicts a households with retirement income of 26.0% (15.4% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the smallest proportion of overall family income at $81,510 of the total. Second, it has one of the largest proportions of white family income at $47,834 of the total and is ranked #3. Only #2 Michigan ($49,461), and #1 Illinois ($55,030) are larger. Third, it has one of the largest proportions of black family income at $64,346 of the total and is ranked #2. The only larger state being Illinois with $68,794. Also, it has in the mid range of other states in the local area as measured by american indian family income at $93,779 of the total. In addition, it has the largest proportion of asian family income at $95,179 of the total and is ranked #1. Furthermore, it has one of the largest proportions of hawaiian family income at $57,789 of the total and is ranked #3. Only #2 Michigan ($62,651), and #1 Illinois ($67,841) 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. Indiana shows it has the hightest cost of 100.5 for the cost of transportation category.

The State of Indiana 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 January 2017 to before the disasterous Covid-19 virus Pandemic it went from 4.6% to 4.3% in March 2020. This represents a decrease in the monthly unemployment rate of 6.5%. Since that time, the monthly unemployment rate has gone to 3.5%. This represents a decrease in the monthly unemployment rate of 18.6%. 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 3,300,060 to 3,385,064 in November 2019. This represents an increase in the monthly labor force participation of 2.6%. Since that time, the monthly labor force participation has gone to 3,429,755. 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 Indiana depicts it has a Unemployment Rate of 3.0% which is in the center range of other states in the local area. The state with the highest unemployment rate in the group is Illinois which shows a rate of 4.0% (33.8% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of depicts it has a Labor Force Participation of 63.9% which is the third most of all other states in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Indiana indicates full time employees approximately 3.5 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 Indiana area. Indiana depicts it has a Single Earner Families of 26.9% which is the third most families with a single earner of all other states in the greater Indiana region. The state with the highest families with a single earner in the group is Illinois which shows a single earners rate of 27.6% (only about 2.7% larger). The percentage of families with no one working is depicted in Figure 22. Indiana depicts it has a Families with No One Working of 16.1% which is in the center range of other states in the metro area. The state with the highest families with no one working in the group is Michigan which depicts a families with no worker of 19.7% (22.4% larger).

The State of Indiana Poverty Charts

The next section details economy analysis about poverty for residents of the Indiana 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. Indiana depicts it has a Total In Poverty of 819,005 which is in the middle range of other states in the local area. The state with the highest total people earning less than the poverty level in the group is Ohio which depicts a total people earning less than the poverty level of 1,528,963 (about twice as large).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Indiana depicts it has a Percent of Population In Poverty of 12.5% which is the third most percent of people earning less than the poverty level of all other states in the greater Indiana region. The state with the highest percent of people earning less than the poverty level in the group is Ohio which shows a percent of people in poverty of 13.4% (6.8% larger).

In Figure 25 people who are in poverty are broken out by age group. Indiana has the largest proportion of person in poverty under 12 years at 10% of the total and is ranked #1. Second, it has the smallest proportion of person in poverty 35 to 54 years at 10% of the total. Third, it has the smallest proportion of person in poverty 55 to 64 years at 10% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Indiana has the largest proportion of american indian poverty rate at 15% of the total and is ranked #1. Second, it has in the mid point range of other states in the greater region when ranked by asian poverty rate at 15% 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.) the state of shows it has a Public Assistance Percent of 9.7% which is less than most other states in the greater region. The state with the highest households with public assistance in the group is Michigan which depicts a households with public assistance of 13.5% (39.0% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of depicts it has a Gini Index of 45.0% which is in the mid range of other states in the greater region.

The State of Indiana 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 Indiana 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.) Indiana has the smallest proportion of people who drive a car or motorcycle to work at 1% of the total. Second, it has the smallest proportion of people who bicycle or walk to work at 7% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Indiana or elsewhere.) Indiana has the largest proportion of people who drove alone at 80% of the total and is ranked #1. Second, it has the largest proportion of people who carpooled at 9% of the total and is ranked #1. Third, it has the smallest proportion of people who take the bus at 1% of the total. Also, it has the smallest proportion of people who walked at 2% of the total. In addition, it has the smallest proportion of people who work from home at 7% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Indiana has the smallest proportion of people who leave for work between 10am to 11am at 1% of the total. Second, it has the largest proportion of people who leave for work between 12noon to 4pm at 8% of the total and is ranked #1.

The average commute time is shown in Figure 37. the state of depicts it has a Avg Commute Time of 24 which is the third most average commute time of all other states in the greater Indiana region. Figure 38 shows the difference between male versus female commuting time. Indiana depicts average commute time in minutes for men 33.2% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Indiana has the percentage of no vehicle available in the mid point range of other states in the local area at 19% of the total. Second, it has the largest proportion of 2 vehicles available at 22% of the total and is ranked #1. Third, it has the largest proportion of 3 vehicles available at 10% of the total and is ranked #1. Also, it has the largest proportion of 4 vehicles available at 5% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of depicts it has a Work in city or place where live of 49% which is the largest of all states in the greater Indiana region.

The State of Indiana 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. the state of depicts it has the hightest median earnings of $81,219 for the management, business, and financial occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of depicts it has the hightest median earnings of $67,037 for the earnings-computer, engineering, and science occupations group. The table in Figure 48, shows Indiana employment data in terms of job categories and salary data.

The State of Indiana 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. the state of depicts it has the hightest entrepreneurs of 49% for the self employed management, business, science, and arts businesses group.

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. the state of depicts it has the hightest entrepreneurs of 18% for the self employed in professional, scientific, management, administrative services category.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of shows it has a Self Employment Income of $35,233 which is less than most other states in the greater region. The state with the highest average annual self employment income in the group is Illinois which shows an average annual self employment income of $41,211 (17.0% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Indiana shows total number of self-employed men 68.7% larger as the total number of self-employed women.