Monticello CCD Kentucky Income Charts

This section shows the Monticello CCD Kentucky economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Monticello CCD depicts it has a median earnings per worker of $28,785 which is in the mid point range of other places in the surrounding region. The place with the highest median earnings per worker in the area is Burnside which depicts a median earnings of $48,648 (69.0% larger). Comparing median earnings per worker to the United States average of $47,712, Monticello CCD is approximately three-fourths the size. Also, benchmarked against the state of Kentucky, median earnings per worker of $41,808, Monticello CCD 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 $30,996 which is in the center range of other places in the metro area. The place with the highest median household income in the area is Burnside which depicts a median income of $41,719 (34.6% larger). Comparing median household income to the United States average of $60,293, Monticello CCD is approximately half the size. Also, compared to the state of Kentucky, median household income of $48,392, Monticello CCD is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Monticello CCD metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $10,000 and $14,999 at 9.8% of the total. Second, it has in the mid point range of other places in the metro area when ranked by earnings of $100,000 more at 1.0% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has an average hours of 39.9 which is the second most average hours of all the places in the greater Monticello CCD region. The place with the highest average hours in the area is Burnside which shows an average hours of 44.0 (10.3% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has an average hourly earnings of $13.87 which is in the mid range of other places in the greater region. The place with the highest average hourly earnings in the area is Burnside which shows an average hourly earnings of $21.26 (53.3% larger). Comparing average hourly earnings to the United States average of $23.71, Monticello CCD is approximately half the size. Also, versus the state of Kentucky, average hourly earnings of $20.67, Monticello CCD is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Monticello CCD metro area based on the number of people who reported any self employment income. Monticello CCD shows it has a percentage of people self employed of 5.6% which is in the mid range of other places in the greater region. The place with the highest percentage of people self employed in the area is Ferguson which depicts a percentage self employed of 8.7% (56.4% larger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $29,250 of the total and is ranked #1. Second, it has one of the largest proportions of median income-25 to 44 years at $39,104 of the total and is ranked #3. Only #2 Monticello ($39,198), and #1 Burnside ($63,367) are larger. Third, it has less than most other places in the local area when ranked by median income-45 to 64 years at $25,762 of the total. Also, it has one of the largest proportions of median income-65 years and over at $27,256 of the total and is ranked #3. Only #2 Ferguson ($27,431), and #1 Russell Springs ($30,787) are larger.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a households with retirement income of 20.6% which is the second most households with retirement income of all the places in the greater Monticello CCD region. The place with the highest households with retirement income in the area is Ferguson which depicts a households with retirement income of 29.8% (44.7% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $43,309 of the total and is ranked #3. Only #2 Ferguson ($44,250), and #1 Burnside ($57,813) are larger. Second, it has one of the largest proportions of white family income at $44,099 of the total and is ranked #3. Only #2 Ferguson ($45,625), and #1 Burnside ($57,813) are larger.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Monticello CCD depicts it has the hightest cost of 106.9 for the cost of transportation classification.

Monticello CCD 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 10.7% to 3.3% in December 2019. This represents a decrease in the monthly unemployment rate of 69.2%. Since that time, the monthly unemployment rate has gone to 3.3% 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 shows that from January 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 13,250 to 14,636 in November 2019. This represents an increase in the monthly labor force participation of 10.5%. Since that time, the monthly labor force participation has gone to 14,636 This represents an increase 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 Monticello CCD depicts it has an unemployment rate of 3.2% which is less than most other places in the metro area. The place with the highest unemployment rate in the area is Albany which shows a rate of 4.9% (51.8% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Monticello CCD depicts it has a participation rate of 46.0% which is the third most participation rates of all other places in the greater Monticello CCD region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Monticello CCD depicts full time employees very much 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 Monticello CCD area. Monticello CCD depicts it has a families with a single earner of 30.0% which is in the center range of other places in the local area. The place with the highest families with a single earner in the area is Ferguson which shows a single earners rate of 40.6% (35.6% larger). The percentage of families with no one working is depicted in Figure 22. Monticello CCD shows it has a families with no one working of 25.4% which is less than most other places in the metro area. The place with the highest families with no one working in the area is Albany which shows a families with no worker of 47.6% (about twice as large).

Monticello CCD Kentucky Poverty Charts

The next section details economy analysis about poverty for residents of the Monticello CCD 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. Monticello CCD depicts it has a total people earning less than the poverty level of 2,308 which is is the uppermost of the places in the greater Monticello CCD region.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Monticello CCD depicts it has a percent of people earning less than the poverty level of 24.1% which is less than most other places in the greater region. The place with the highest percent of people earning less than the poverty level in the area is Jamestown which shows a percent of people in poverty of 39.3% (63.1% larger).

In Figure 25 people who are in poverty are broken out by age group. Monticello CCD has the largest proportion of person in poverty 18 to 34 years at 22% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Monticello CCD has the percentage of white poverty rate less than most other places in the greater region at 23% of the total. Second, it has one of the largest proportions of black poverty rate at 5% of the total and is ranked #3. Only #2 Jamestown (10%), and #1 Albany (100%) are larger. Third, it has less than most other places in the metro area in terms of hispanicp poverty rate at 41% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Monticello CCD has the percentage of married with children and in poverty less than most other places in the local area at 16% of the total. Second, it has in the mid range of other places in the surrounding region as measured by unmarried male with children and in poverty at 47% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Monticello CCD has the smallest proportion of has some college and in poverty at 10% 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.) Monticello CCD shows it has a households with public assistance of 24.1% which is less than most other places in the local area. The place with the highest households with public assistance in the area is Albany which depicts a households with public assistance of 38.2% (58.5% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Monticello CCD indicates it has a the gini index of 44.0% which is less than most other places in the local area.

Monticello CCD Kentucky Work Commute Charts

In Figure 35 is shown a frequency distribution of the time that people leave for work. Monticello CCD has the percentage of people who leave for work between 12am to 5am the second smallest in terms of people who leave for work between 12am to 5am of all the other places in the metro area at 3% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Monticello CCD has the percentage of people with commute time between 5 to 9 minutes in the middle range of other places in the metro area at 25% of the total. Second, it has in the center range of other places in the metro area in terms of people with commute time between 10 to 14 minutes at 19% of the total. Third, it has the largest proportion of people with commute time between 40 to 44 minutes at 6% of the total and is ranked #1. Also, it has the second smallest in order of people with commute time of less than 5 minutes of all the other places in the greater region in terms of people with commute time between 60 to 89 minutes at 0% of the total. In addition, it has less than most other places in the metro area when ranked by people with commute time of 90 or more minutesutes at 1% of the total.

The average commute time is shown in Figure 37. Monticello CCD shows it has an average commute time of 18 which is less than most other places in the local area. Figure 38 shows the difference between male versus female commuting time. Monticello CCD shows average commute time in minutes for men 21.1% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Monticello CCD has the smallest proportion of no vehicle available at 2% of the total. Second, it has less than most other places in the metro area when ranked by 1 vehicle available at 22% of the total. Third, it has one of the largest proportions of 3 vehicles available at 27% of the total and is ranked #2. The only larger place being Albany with 29%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Monticello CCD depicts it has a people who both work and live in the same city of 60% which is the second most people who both work and live in the same city of all the places in the greater Monticello CCD region. The place with the highest people who both work and live in the same city in the area is Albany which shows a people who both work and live in the same city of 61% ( only slightly larger). Comparing people who both work and live in the same city to the United States average of 42%, Monticello CCD is 44.6% larger. Also, in contrast to the state of Kentucky, people who both work and live in the same city of 52%, Monticello CCD is 16.1% larger.

Monticello CCD 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. Monticello CCD depicts it has the hightest median earnings of $48,011 for the earnings-education, legal, community service, arts, media occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Monticello CCD depicts it has the hightest median earnings of $45,571 for the earnings-education, legal, community service, arts, media occupations aggregate. The table in Figure 48, shows Monticello CCD employment data in terms of job categories and salary data.

Monticello CCD 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. Monticello CCD indicates it has the hightest entrepreneurs of 100% 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. Monticello CCD depicts it has the hightest entrepreneurs of 53% for the self employed in agriculture, forestry, fishing and hunting, and mining classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Monticello CCD shows it has an average annual self employment income of $22,628 which is the third most average annual self employment income of all other places in the greater Monticello CCD region. The place with the highest average annual self employment income in the area is Ferguson which shows an average annual self employment income of $45,444 (about twice as large). Comparing average annual self employment income to the United States average of $37,819, Monticello CCD is approximately three-fourths the size. Also, versus the state of Kentucky, average annual self employment income of $30,549, Monticello CCD is approximately three-fourths the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Monticello CCD shows total number of self-employed men approximately 2.3 times bigger as the total number of self-employed women.