Cave City Kentucky Income Charts

This section shows the Cave City Kentucky economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Cave City shows it has a Median earnings of $26,083 which is the second smallest in terms of median earnings per worker of all the other places in the area. The city with the highest median earnings per worker in the area is Hardyville CDP which depicts a median earnings of $64,044 (approximately 2.5 times bigger). Comparing median earnings per worker to the United States average of $50,459, Cave City is approximately half the size. Also, in comparison with the state of Kentucky, median earnings per worker of $44,129, Cave City 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 $27,354 which is in the intermediate range of other places in the local area. The city with the highest median household income in the area is Park City which depicts a median income of $41,250 (50.8% larger). Comparing median household income to the United States average of $64,994, Cave City is approximately half the size. Also, compared to the state of Kentucky, median household income of $52,238, Cave City is approximately half the size.

The next section examines a variety of different income statistics for the Cave City metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 12.8% of the total and is ranked #1. Second, it has less than most other places in the greater region in terms of earnings between $10,000 and $14,999 at 6.8% of the total. Third, it has one of the largest proportions of earnings between $15,000 and $19,999 at 38.4% of the total and is ranked #2. The only larger city being Horse Cave with 45.1%. Also, it has the smallest proportion of earnings between $20,000 and $49,999 at 7.3% 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 38.6 which is in the mid range of other places in the metropolitan area. The city with the highest average hours in the area is Horse Cave which shows an average hours of 40.8 (only about 5.7% 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 $12.99 which is less than most other places in the surrounding region. The city with the highest average hourly earnings in the area is Munfordville which shows an average hourly earnings of $19.93 (53.3% larger). Comparing average hourly earnings to the United States average of $25.01, Cave City is approximately half the size. Also, benchmarked against the state of Kentucky, average hourly earnings of $21.76, Cave City is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Cave City metro area based on the number of people who reported any self employment income. Cave City depicts it has a Self Employed of 4.5% which is in the middle range of other places in the area. The city with the highest percentage of people self employed in the area is Munfordville which depicts a percentage self employed of 9.4% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-25 to 44 years in the mid point range of other places in the metro area at $35,872 of the total. Second, it has in the mid range of other places in the local area when sorted by median income-45 to 64 years at $21,250 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 15.1% which is the third most households with retirement income of all other places in the greater Cave City region. The city with the highest households with retirement income in the area is Glasgow which shows a households with retirement income of 20.3% (34.7% 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 places in the local area at $37,222 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. Cave City depicts it has the hightest cost of 99.7 for the cost of transportation group.

Cave City 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 Wuhan Coronavirus Pandemic the monthly unemployment rate went from 10.0% to 4.8% in March 2020. This represents a decrease in the monthly unemployment rate of 52.0%. Since that time, the monthly unemployment rate has gone to 2.4% This represents a decrease in the monthly unemployment rate of 50.0%. 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 January 2010 to before the disasterous Coronavirus Pandemic the monthly labor force participation went from 28,818 to 34,113 in March 2020. This represents an increase in the monthly labor force participation of 18.4%. Since that time, the monthly labor force participation has gone to 33,133 This represents a decrease in the monthly labor force participation of 2.9%.

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 Cave City depicts it has a Unemployment Rate of 13.9% which is more than all other places in the metro area. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Cave City shows it has a Labor Force Participation of 60.2% which is the second most of all the places in the local area.

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). Cave City has the largest proportion of employed at 13.9% of the total and is ranked #1. Second, it has the second smallest as measured by employed of all the other places in the area as measured by unemployed at 39.8% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Cave City shows full time employees approximately 4.1 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 Cave City area. Cave City depicts it has a Single Earner Families of 22.8% which is in the center range of other places in the local area. The city with the highest families with a single earner in the area is Munfordville which depicts a single earners rate of 37.9% (66.3% larger). The percentage of families with no one working is depicted in Figure 22. Cave City shows it has a Families with No One Working of 22.5% which is in the mid point range of other places in the local area. The city with the highest families with no one working in the area is Hiseville CDP which depicts a families with no worker of 33.3% (48.4% larger).

Cave City Kentucky Poverty Charts

The next section details economy analysis about poverty for residents of the Cave City 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. Cave City depicts it has a Total In Poverty of 1,087 which is the second most total people earning less than the poverty level of all the places in the greater Cave City region. The city with the highest total people earning less than the poverty level in the area is Glasgow which depicts a total people earning less than the poverty level of 3,943 (approximately 3.6 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Cave City depicts it has a Percent of Population In Poverty of 42.2% which is the second most percent of people earning less than the poverty level of all the places in the greater Cave City region. The city with the highest percent of people earning less than the poverty level in the area is Hiseville CDP which depicts a percent of people in poverty of 75.8% (79.5% larger).

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Cave City has one of the largest proportions of white poverty rate at 81% of the total and is ranked #2. The only larger city being Park City with 82%. Second, it has the largest proportion of hawaiian poverty rate at 87% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Cave City has the percentage of married with children and in poverty the second smallest when sorted by married with children and in poverty of all the other places in the local area at 50% of the total. Second, it has the second smallest in terms of married with children and in poverty of all the other places in the metro area when ranked by unmarried with children and in poverty at 56% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Cave City has the largest proportion of has some college and in poverty at 16% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Cave City has the largest proportion of people who are in poverty and employed at 13.0% 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.) Cave City depicts it has a Public Assistance Percent of 23.5% which is the third most households with public assistance of all other places in the greater Cave City region. The city with the highest households with public assistance in the area is Hiseville CDP which depicts a households with public assistance of 51.9% (approximately 2.2 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Cave City depicts it has a Gini Index of 49.4% which is the third most the gini index of all other places in the greater Cave City region.

Cave City Kentucky Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Cave City or elsewhere.) Cave City has the largest proportion of people who took a taxicab, motorcycle or other at 3% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Cave City has the largest proportion of people who leave for work between 5am to 530am at 6% 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. Cave City has one of the largest proportions of people with commute time of less than 5 minutesutes at 20% of the total and is ranked #3. Only #2 Glasgow (25%), and #1 Horse Cave (38%) are larger. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 20% of the total and is ranked #2. The only larger city being Glasgow with 22%. Third, it has one of the largest proportions of people with commute time between 10 to 14 minutes at 19% of the total and is ranked #2. The only larger city being Hiseville CDP with 24%. Also, it has the smallest proportion of people with commute time between 25 to 29 minutes at 2% of the total. In addition, it has the largest proportion of people with commute time between 30 to 34 minutes at 5% of the total and is ranked #1. Furthermore, it has one of the largest proportions of people with commute time between 40 to 44 minutes at 6% of the total and is ranked #3. Only #2 Glasgow (6%), and #1 Hardyville CDP (82%) are larger.

The average commute time is shown in Figure 37. Cave City depicts it has a Avg Commute Time of 22 which is the second most average commute time of all the places in the greater Cave City region. Figure 38 shows the difference between male versus female commuting time. Cave City shows average commute time in minutes for men about twice as large as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Cave City has one of the largest proportions of no vehicle available at 36% of the total and is ranked #2. The only larger city being Hiseville CDP with 42%. Second, it has the second smallest as measured by no vehicle available of all the other places in the greater region in terms of 2 vehicles available at 12% of the total. Third, it has one of the largest proportions of 3 vehicles available at 8% of the total and is ranked #2. The only larger city being Munfordville with 16%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Cave City depicts it has a Work in city or place where live of 13% which is less than most other places in the greater region. The city with the highest people who both work and live in the same city in the area is Glasgow which indicates a people who both work and live in the same city of 65% (approximately 4.9 times bigger). Comparing people who both work and live in the same city to the United States average of 43%, Cave City is approximately a third the size. Also, benchmarked against the state of Kentucky, people who both work and live in the same city of 45%, Cave City is approximately a third the size.

Cave City Kentucky 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. Cave City shows it has the hightest median earnings of $32,500 for the management, business, and financial occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Cave City depicts it has the hightest median earnings of $21,509 for the earnings-production, transportation, material moving occupations group. The table in Figure 48, shows Cave City employment data in terms of job categories and salary data.

Cave City Kentucky 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. Cave City depicts it has the hightest entrepreneurs of 72% 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. Cave City shows it has the hightest entrepreneurs of 49% 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. Cave City depicts it has a Self Employment Income of $28,934 which is the second most of all the places in the metropolitan area. The city with the highest average annual self employment income in the area is Glasgow which shows an average annual self employment income of $37,654 (30.1% larger). Comparing average annual self employment income to the United States average of $40,101, Cave City is approximately three-fourths the size. Also, measured against the state of Kentucky, average annual self employment income of $33,049, Cave City is about 14.2% smaller.

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