The State of Iowa Income Charts

This section shows the Iowa economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Iowa shows it has a Median earnings of $50,713 which is the third most median earnings of all other states in the greater Iowa region. The state with the highest median earnings per worker in the group is Minnesota which depicts a median earnings of $57,586 (13.6% 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 $65,429 which is in the center range of other states in the greater region. The state with the highest median household income in the group is Minnesota which depicts a median income of $77,706 (18.8% larger).

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 39.0 which is less than most other states in the local area. The state with the highest average hours in the group is North Dakota which depicts an average hours of 39.9 ( only slightly 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 $25.01 which is the third most average hourly earnings of all other states in the greater Iowa region. The state with the highest average hourly earnings in the group is Minnesota which depicts an average hourly earnings of $28.99 (15.9% larger).

Figure 7 examines the number of self employed people in the Iowa metro area based on the number of people who reported any self employment income. Iowa shows it has a Self Employed of 12.7% which is in the mid point range of other states in the metro area. The state with the highest percentage of people self employed in the group is South Dakota which shows a percentage self employed of 15.5% (22.6% 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 mid range of other states in the local area at $74,654 of the total. Second, it has in the mid range of other states in the metropolitan area in terms of median income-25 to 44 years at $79,713 of the total. Third, it has less than most other states in the metro area as measured by median income-45 to 64 years at $47,401 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 21.3% which is in the mid range of other states in the metro area. The state with the highest households with retirement income in the group is Missouri which shows a households with retirement income of 23.3% (9.3% larger).

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 less than most other states in the surrounding region at $86,038 of the total. Second, it has the smallest proportion of white family income at $42,183 of the total. Third, it has in the mid range of other states in the local area in terms of black family income at $51,250 of the total. Also, it has in the intermediate range of other states in the local area when sorted by american indian family income at $89,027 of the total. In addition, it has less than most other states in the metro area in terms of asian family income at $46,656 of the total. Furthermore, it has the second smallest as measured by overall family income of all the other states in the local area when ranked by hawaiian family income at $56,198 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. Iowa indicates it has the hightest cost of 101.8 for the cost of transportation grouping.

The State of Iowa 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 shows that from January 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 7.3% to 3.4% in March 2020. This represents a decrease in the monthly unemployment rate of 53.4%. Since that time, the monthly unemployment rate has gone to 2.4% This represents a decrease in the monthly unemployment rate of 29.4%. 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 1,673,399 to 1,745,599 in January 2020. This represents an increase in the monthly labor force participation of 4.3%. Since that time, the monthly labor force participation has gone to 1,711,895 This represents a decrease 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 Iowa depicts it has a Unemployment Rate of 2.6% which is in the mid range of other states in the area. The state with the highest unemployment rate in the group is Missouri which shows a rate of 2.8% (8.3% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of shows it has a Labor Force Participation of 66.9% which is less than most other states in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Iowa shows 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 Iowa area. Iowa shows it has a Single Earner Families of 21.7% which is in the mid range of other states in the local area. The state with the highest families with a single earner in the group is Kansas which shows a single earners rate of 25.8% (18.5% larger). The percentage of families with no one working is depicted in Figure 22. Iowa depicts it has a Families with No One Working of 15.9% which is the second most families with no one working of all the states in the greater Iowa region. The state with the highest families with no one working in the group is Missouri which shows a families with no worker of 17.9% (12.7% larger).

The State of Iowa Poverty Charts

The next section details economy analysis about poverty for residents of the Iowa 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. Iowa depicts it has a Total In Poverty of 339,695 which is the third most total people earning less than the poverty level of all other states in the greater Iowa region. The state with the highest total people earning less than the poverty level in the group is Missouri which indicates a total people earning less than the poverty level of 762,023 (approximately 2.2 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Iowa depicts it has a Percent of Population In Poverty of 11.0% which is in the mid range of other states in the area. The state with the highest percent of people earning less than the poverty level in the group is Missouri which shows a percent of people in poverty of 12.8% (15.9% larger).

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Iowa has the largest proportion of white poverty rate at 30% of the total and is ranked #1. Second, it has less than most other states in the local area when sorted by black poverty rate at 23% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Iowa has the largest proportion of people who are in poverty and employed at 4.2% of the total and is ranked #1. Second, it has the largest proportion of people who are in poverty and unemployed at 18.2% 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.) the state of shows it has a Public Assistance Percent of 10.5% which is the second most households with public assistance of all the states in the greater Iowa region. The state with the highest households with public assistance in the group is Missouri which shows a households with public assistance of 10.8% (only about 3.7% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of indicates it has a Gini Index of 44.1% which is the smallest when sorted by the gini index of all the other states in the greater region.

The State of Iowa Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Iowa or elsewhere.) Iowa has the smallest proportion of people who take the Long-distance train or commuter rail at 0% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Iowa has the largest proportion of people who leave for work between 12am to 5am at 4% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 5am to 530am at 6% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 6am to 630am at 12% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 730 am to 8am at 9% of the total. In addition, it has the smallest proportion of people who leave for work between 8am to 830am at 4% of the total. Furthermore, it has the smallest proportion of people who leave for work between 830 am to 9am at 4% of the total. Next it has the smallest proportion of people who leave for work between 10am to 11am at 1% of the total.

The average commute time is shown in Figure 37. the state of shows it has a Avg Commute Time of 20 which is in the middle range of other states in the local area. Figure 38 shows the difference between male versus female commuting time. Iowa shows average commute time in minutes for men 26.0% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Iowa has the smallest proportion of no vehicle available at 17% of the total. 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 50% which is less than most other states in the greater region. The state with the highest people who both work and live in the same city in the group is South Dakota which depicts a people who both work and live in the same city of 68% (34.5% larger).

The State of Iowa 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 shows it has the hightest median earnings of $81,740 for the earnings-healthcare practitioners and tech occupations grouping. 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 $65,702 for the earnings-computer, engineering, and science occupations grouping. The table in Figure 48, shows Iowa employment data in terms of job categories and salary data.

The State of Iowa 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 48% 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 16% 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 depicts it has a Self Employment Income of $38,002 which is in the mid range of other states in the metro area. The state with the highest average annual self employment income in the group is North Dakota which shows an average annual self employment income of $49,374 (29.9% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Iowa shows total number of self-employed men about twice as large as the total number of self-employed women.