Boston CDP Kentucky Income Charts

This section shows the Boston CDP Kentucky economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Boston CDP shows it has a Median earnings of $31,250 which is the smallest when ranked by median earnings per worker of all the other places in the greater region. The place with the highest median earnings per worker in the area is Elizabethtown which shows a median earnings of $43,586 (39.5% larger). Comparing median earnings per worker to the United States average of $49,041, Boston CDP is approximately three-fourths the size. Also, measured against the state of Kentucky, median earnings per worker of $43,234, Boston CDP is approximately three-fourths the size.

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 $78,750 which is the highest of all places in the greater Boston CDP region. Comparing median household income to the United States average of $62,843, Boston CDP is 25.3% larger. Also, compared to the state of Kentucky, median household income of $50,589, Boston CDP is 55.7% larger.

The next section examines a variety of different income statistics for the Boston CDP metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $10,000 and $14,999 at 16.1% of the total and is ranked #1. Second, it has one of the largest proportions of earnings between $15,000 and $19,999 at 49.2% of the total and is ranked #2. The only larger place being New Haven with 49.5%. Third, it has the largest proportion of earnings between $50,000 and $74,999 at 16.9% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 47.7 which is ranked #1 of all places in the greater Boston 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 $12.60 which is the smallest when sorted by average hourly earnings of all the other places in the local area. The place with the highest average hourly earnings in the area is Elizabethtown which depicts an average hourly earnings of $21.01 (66.7% larger). Comparing average hourly earnings to the United States average of $24.31, Boston CDP is approximately half the size. Also, in contrast to the state of Kentucky, average hourly earnings of $21.32, Boston CDP is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Boston CDP metro area based on the number of people who reported any self employment income. Boston CDP depicts it has a Self Employed of 12.7% which is at the top of all other places in the greater Boston CDP region.

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-25 to 44 years at $78,194 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 28.2% which is ranked #1 of all places in the greater Boston CDP region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $103,295 of the total and is ranked #1.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Boston CDP depicts it has the hightest cost of 99.1 for the cost of utilities category.

Boston 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 depicts that from January 2010 to before the Coronavirus Pandemic the monthly unemployment rate went from 10.1% to 4.6% in March 2020. This represents a decrease in the monthly unemployment rate of 54.5%. Since that time, the monthly unemployment rate has gone to 4.6% 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. . It depicts that from January 2010 to before the Wuhan Coronavirus Pandemic the monthly labor force participation went from 12,832 to 13,987 in March 2020. This represents an increase in the monthly labor force participation of 9.0%. Since that time, the monthly labor force participation has gone to 13,394 This represents a decrease in the monthly labor force participation of 4.2%. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Boston CDP depicts it has a Labor Force Participation of 94.7% which is the highest of all places in the greater Boston CDP region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Boston CDP has the smallest proportion of unemployed at 5.3% of the total.

Boston CDP Kentucky Poverty Charts

The next section details economy analysis about poverty for residents of the Boston 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. Boston CDP depicts it has a Total In Poverty of 7 which is the smallest in order of total people earning less than the poverty level of all the other places in the greater region. The place with the highest total people earning less than the poverty level in the area is Radcliff which indicates a total people earning less than the poverty level of 4,582 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Boston CDP depicts it has a Percent of Population In Poverty of 5.3% which is the smallest in terms of percent of people earning less than the poverty level of all the other places in the metro area. The place with the highest percent of people earning less than the poverty level in the area is Radcliff which shows a percent of people in poverty of 20.6% (approximately 3.9 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Boston CDP has the largest proportion of person in poverty 18 to 34 years at 100% of the total and is ranked #1.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Boston CDP depicts it has a Gini Index of 29.6% which is the smallest as measured by the gini index of all the other places in the surrounding region.

Boston CDP Kentucky Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Boston CDP or elsewhere.) Boston CDP has the largest proportion of people who drove alone at 100% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Boston CDP 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 5am to 530am at 9% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 6am to 630am at 27% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 630 am to 7am at 24% 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. Boston CDP has one of the largest proportions of people with commute time of less than 5 minutesutes at 24% of the total and is ranked #2. The only larger place being Bardstown with 28%. Second, it has the largest proportion of people with commute time between 30 to 34 minutes at 7% of the total and is ranked #1. Third, it has the largest proportion of people with commute time between 45 to 59 minutes at 29% of the total and is ranked #1.

The average commute time is shown in Figure 37. Boston CDP shows it has a Avg Commute Time of 31 which is more than all other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Boston CDP depicts average commute time in minutes for men approximately 4.3 times bigger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Boston CDP has the largest proportion of 1 vehicle available at 52% of the total and is ranked #1. Second, it has the largest proportion of 2 vehicles available at 48% 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.) Boston CDP depicts it has a Work in city or place where live of 8% which is the smallest as measured by people who both work and live in the same city of all the other places in the greater region. The place with the highest people who both work and live in the same city in the area is Elizabethtown which indicates a people who both work and live in the same city of 60% ( quite a bit bigger). Comparing people who both work and live in the same city to the United States average of 42%, Boston CDP is approximately a fifth the size. Also, versus the state of Kentucky, people who both work and live in the same city of 52%, Boston CDP is approximately a sixth the size.

Boston CDP Kentucky Jobs Charts

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