Betsy Layne CDP Kentucky Income Charts

This section shows the Betsy Layne CDP Kentucky economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Betsy Layne CDP depicts it has a Median earnings of $38,516 which is in the mid range of other places in the surrounding region. The place with the highest median earnings per worker in the area is Allen which depicts a median earnings of $55,972 (45.3% larger). Comparing median earnings per worker to the United States average of $53,269, Betsy Layne CDP is approximately three-fourths the size. Also, compared to the state of Kentucky, median earnings per worker of $46,067, Betsy Layne CDP is about 19.6% 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 $40,612 which is the third most median income of all other places in the greater Betsy Layne CDP region. The place with the highest median household income in the area is Coal Run Village which depicts a median income of $41,625 ( only slightly larger). Comparing median household income to the United States average of $69,021, Betsy Layne CDP is approximately half the size. Also, compared with the state of Kentucky, median household income of $55,454, Betsy Layne CDP is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Betsy Layne CDP metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 24.3% of the total and is ranked #3. Only #2 McDowell CDP (32.2%), and #1 Dwale CDP (57.4%) are larger. Second, it has one of the largest proportions of earnings between $15,000 and $19,999 at 52.9% of the total and is ranked #2. The only larger place being Martin with 60.7%. Third, it has the second smallest when ranked by median earnings of less than $10,000 of all the other places in the local area as measured by earnings between $20,000 and $49,999 at 6.2% 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 42.8 which is ranked #1 of all places in the greater Betsy Layne CDP 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 $17.31 which is less than most other places in the surrounding region. The place with the highest average hourly earnings in the area is McDowell CDP which depicts an average hourly earnings of $30.38 (75.6% larger). Comparing average hourly earnings to the United States average of $26.40, Betsy Layne CDP is approximately three-fourths the size. Also, measured against the state of Kentucky, average hourly earnings of $22.72, Betsy Layne CDP is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Betsy Layne CDP metro area based on the number of people who reported any self employment income. Betsy Layne CDP shows it has a Self Employed of 3.2% which is the third most people self employed of all other places in the greater Betsy Layne CDP region. The place with the highest percentage of people self employed in the area is Coal Run Village which shows a percentage self employed of 8.5% (approximately 2.6 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 $51,328 of the total and is ranked #3. Only #2 Coal Run Village ($51,364), and #1 Pikeville ($68,226) are larger.

Figure 9 breaks down the source of income and Betsy Layne CDP has the largest proportion of investment and retirement income at 46.2% of the total and is ranked #1.

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 30.3% which is the second most households with retirement income of all the places in the greater Betsy Layne CDP region. The place with the highest households with retirement income in the area is McDowell CDP which depicts a households with retirement income of 60.5% (about twice as large).

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 places in the local area at $47,969 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. Betsy Layne CDP shows it has the hightest cost of 104.1 for the cost of grocery items category.

Betsy Layne CDP Kentucky 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 February 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly unemployment rate went from 7.6% to 4.0% in February 2020. This represents a decrease in the monthly unemployment rate of 47.4%. Since that time, the monthly unemployment rate has gone to 3.9% This represents a decrease in the monthly unemployment rate of 2.5%. 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 2,032 to 1,699 in March 2020. This represents a decrease in the monthly labor force participation of 16.4%. Since that time, the monthly labor force participation has gone to 1,774 This represents an increase in the monthly labor force participation of 4.4%. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Betsy Layne CDP depicts it has a Labor Force Participation of 38.7% which is the second smallest as measured by participation rate of all the other places in the metro area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Betsy Layne CDP shows full time employees approximately 4.4 times bigger as the part time employees.

The percentage of families with no one working is depicted in Figure 22. Betsy Layne CDP shows it has a Families with No One Working of 66.1% which is the highest of all places in the greater Betsy Layne CDP region.

Betsy Layne CDP Kentucky Poverty Charts

The next section details economy analysis about poverty for residents of the Betsy Layne CDP 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. Betsy Layne CDP shows it has a Total In Poverty of 20 which is the smallest in order of total people earning less than the poverty level of all the other places in the metro area. The place with the highest total people earning less than the poverty level in the area is Pikeville which depicts a total people earning less than the poverty level of 1,781 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Betsy Layne CDP depicts it has a Percent of Population In Poverty of 2.8% which is the smallest when sorted by percent of people earning less than the poverty level of all the other places in the local area. The place with the highest percent of people earning less than the poverty level in the area is Martin which depicts a percent of people in poverty of 48.8% ( considerably bigger).

In Figure 25 people who are in poverty are broken out by age group. Betsy Layne CDP has the largest proportion of person in poverty 35 to 54 years at 100% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Betsy Layne CDP has the smallest proportion of less than highschool in poverty at 6% 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.) Betsy Layne CDP shows it has a Public Assistance Percent of 5.8% which is the smallest in terms of households with public assistance of all the other places in the metro area. The place with the highest households with public assistance in the area is Allen which shows a households with public assistance of 41.2% ( very much bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Betsy Layne CDP shows it has a Gini Index of 34.0% which is the second smallest in order of the gini index of all the other places in the metropolitan area.

Betsy Layne CDP Kentucky Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Betsy Layne CDP or elsewhere.) Betsy Layne CDP has the smallest proportion of people who drove alone at 67% of the total. Second, it has the largest proportion of people who carpooled at 33% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Betsy Layne CDP has the largest proportion of people who leave for work between 12am to 5am at 6% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 630 am to 7am at 30% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 7am to 730am at 39% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Betsy Layne CDP has the percentage of people with commute time of less than 5 minutesutes less than most other places in the local area at 6% of the total. Second, it has in the center range of other places in the metro area in order of people with commute time between 5 to 9 minutes at 12% of the total. Third, it has one of the largest proportions of people with commute time between 10 to 14 minutes at 54% of the total and is ranked #2. The only larger place being Dwale CDP with 57%. Also, it has the largest proportion of people with commute time between 15 to 19 minutes at 29% of the total and is ranked #1.

The average commute time is shown in Figure 37. Betsy Layne CDP depicts it has a Avg Commute Time of 15 which is the third most average commute time of all other places in the greater Betsy Layne CDP region. Figure 38 shows the difference between male versus female commuting time. Betsy Layne CDP depicts average commute time in minutes for men only slightly larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Betsy Layne CDP has the smallest proportion of no vehicle available at 18% of the total. Second, it has less than most other places in the metro area when sorted by 1 vehicle available at 27% of the total. Third, it has the largest proportion of 2 vehicles available at 47% 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.) Betsy Layne CDP depicts it has a Work in city or place where live of 6% which is the second smallest when sorted by people who both work and live in the same city of all the other places in the surrounding region. The place with the highest people who both work and live in the same city in the area is Pikeville which shows a people who both work and live in the same city of 73% ( appreciably bigger). Comparing people who both work and live in the same city to the United States average of 44%, Betsy Layne CDP is approximately an eigth the size. Also, measured against the state of Kentucky, people who both work and live in the same city of 53%, Betsy Layne CDP is approximately a tenth the size.

Betsy Layne CDP Kentucky Jobs Charts

The table in Figure 48, shows Betsy Layne CDP employment data in terms of job categories and salary data.