Cave City Kentucky Income Charts

This section shows the Cave City Kentucky economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Cave City depicts it has a Median earnings of $25,489 which is the smallest in terms of median earnings per worker of all the other places in the greater region. The city with the highest median earnings per worker in the area is Hardyville CDP which depicts a median earnings of $56,313 (approximately 2.2 times bigger). Comparing median earnings per worker to the United States average of $49,041, Cave City is approximately half the size. Also, benchmarked against the state of Kentucky, median earnings per worker of $43,234, Cave City is approximately half 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 $30,833 which is in the mid range of other places in the local area. The city with the highest median household income in the area is Park City which shows a median income of $45,368 (47.1% larger). Comparing median household income to the United States average of $62,843, Cave City is approximately half the size. Also, in comparison with the state of Kentucky, median household income of $50,589, Cave City is approximately three-fourths 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 one of the largest proportions of earnings less than $10,000 at 10.7% of the total and is ranked #3. Only #2 Munfordville (11.5%), and #1 Glasgow (14.9%) are larger. Second, it has one of the largest proportions of earnings between $10,000 and $14,999 at 12.1% of the total and is ranked #2. The only larger city being Park City with 13.1%. Third, it has the smallest proportion of earnings between $20,000 and $49,999 at 10.5% 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 39.0 which is the third most average hours of all other places in the greater Cave City region. The city with the highest average hours in the area is Park City which shows an average hours of 42.3 (8.5% 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 $12.57 which is the smallest when ranked by average hourly earnings of all the other places in the local area. The city with the highest average hourly earnings in the area is Hardyville CDP which depicts an average hourly earnings of $31.95 (approximately 2.5 times bigger). Comparing average hourly earnings to the United States average of $24.31, Cave City is approximately half the size. Also, measured against the state of Kentucky, average hourly earnings of $21.32, Cave City is approximately half 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 shows it has a Self Employed of 7.3% which is the second most of all the places in the area. The city with the highest percentage of people self employed in the area is Glasgow which shows a percentage self employed of 9.6% (31.7% 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 center range of other places in the greater region at $38,542 of the total. Second, it has in the mid range of other places in the local area when ranked by median income-25 to 44 years at $34,861 of the total. Third, it has in the middle range of other places in the metro area when sorted by median income-45 to 64 years at $22,880 of the total.

Figure 9 breaks down the source of income and Cave City has the largest proportion of income from wages at 12.6% 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 16.6% which is in the center range of other places in the local area. The city with the highest households with retirement income in the area is Glasgow which shows a households with retirement income of 22.7% (36.9% 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 the second smallest when ranked by overall family income of all the other places in the greater region at $36,852 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 disasterous COVID-19 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 4.5% This represents a decrease in the monthly unemployment rate of 6.3%. 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 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 31,883 This represents a decrease in the monthly labor force participation of 6.5%.

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 12.0% which is the highest of all places in the greater Cave City region. 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 64.6% 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 12.0% of the total and is ranked #1. Second, it has the second smallest when ranked by employed of all the other places in the greater region as measured by unemployed at 35.4% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Cave City depicts full time employees approximately 4.9 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 shows it has a Single Earner Families of 26.7% which is in the center range of other places in the surrounding region. The city with the highest families with a single earner in the area is Munfordville which shows a single earners rate of 31.4% (17.6% larger). The percentage of families with no one working is depicted in Figure 22. Cave City depicts it has a Families with No One Working of 20.1% which is the third most of all other places in the local area. The city with the highest families with no one working in the area is Hiseville CDP which shows a families with no worker of 32.0% (59.1% 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 shows it has a Total In Poverty of 1,013 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 3,766 (approximately 3.7 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 shows it has a Percent of Population In Poverty of 39.5% which is the second most of all the places in the metro area. 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 62.3% (57.7% 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 79% of the total and is ranked #2. The only larger city being Park City with 83%. Second, it has the largest proportion of hawaiian poverty rate at 85% 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 in order of married with children and in poverty of all the other places in the greater region at 40% of the total. Second, it has the second smallest in order of married with children and in poverty of all the other places in the surrounding region in terms of unmarried with children and in poverty at 46% 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 one of the largest proportions of less than highschool in poverty at 36% of the total and is ranked #2. The only larger city being Hiseville CDP with 45%. Second, it has one of the largest proportions of highschool graduate and in poverty at 23% of the total and is ranked #3. Only #2 Park City (23%), and #1 Hiseville CDP (100%) are larger. Third, it has the largest proportion of has some college and in poverty at 13% 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 10.9% of the total and is ranked #1. Second, it has less than most other places in the greater region when sorted by people who are in poverty and unemployed at 9.5% 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.) Cave City depicts it has a Public Assistance Percent of 27.0% which is in the mid point range of other places in the local area. The city with the highest households with public assistance in the area is Hiseville CDP which shows a households with public assistance of 35.0% (29.6% larger).

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 46.5% 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 take the bus at 1% of the total and is ranked #1. Second, it has the largest proportion of people who walked at 8% 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 21% of the total and is ranked #3. Only #2 Glasgow (26%), and #1 Horse Cave (37%) are larger. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 17% of the total and is ranked #2. The only larger city being Glasgow with 23%. Third, it has one of the largest proportions of people with commute time between 10 to 14 minutes at 20% of the total and is ranked #2. The only larger city being Hiseville CDP with 48%. Also, it has less than most other places in the greater region when sorted by people with commute time between 15 to 19 minutes at 9% of the total.

The average commute time is shown in Figure 37. Cave City depicts it has a Avg Commute Time of 19 which is in the center range of other places in the local area. Figure 38 shows the difference between male versus female commuting time. Cave City depicts average commute time in minutes for men 66.1% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Cave City has the largest proportion of no vehicle available at 37% of the total and is ranked #1. Second, it has the second smallest in order of no vehicle available of all the other places in the surrounding region when ranked by 2 vehicles available at 11% of the total. Third, it has one of the largest proportions of 3 vehicles available at 12% of the total and is ranked #2. The only larger city being Munfordville with 12%. Also, it has less than most other places in the local area in terms of 4 vehicles available at 1% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Cave City indicates it has a Work in city or place where live of 15% 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 depicts a people who both work and live in the same city of 69% (approximately 4.6 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Cave City is approximately a third the size. Also, in comparison with the state of Kentucky, people who both work and live in the same city of 52%, 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 $33,333 for the earnings-production, transportation, material moving occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Cave City depicts it has the hightest median earnings of $39,375 for the earnings-sales and office 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 62% for the self employed management, business, science, and arts businesses category.

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 depicts it has the hightest entrepreneurs of 44% for the self employed in agriculture, forestry, fishing and hunting, and mining grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Cave City depicts it has a Self Employment Income of $71,364 which is the largest of all places in the greater Cave City region. Comparing average annual self employment income to the United States average of $39,154, Cave City is about twice as large. Also, compared with the state of Kentucky, average annual self employment income of $32,419, Cave City is approximately 2.2 times bigger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Cave City depicts total number of self-employed men approximately 2.7 times bigger as the total number of self-employed women.