New Hope CDP Kentucky Income Charts

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 $33,804 which is less than most other places in the local area. The place with the highest median household income in the area is New Haven which depicts a median income of $52,917 (56.5% larger). Comparing median household income to the United States average of $64,994, New Hope CDP is approximately half the size. Also, measured against the state of Kentucky, median household income of $52,238, New Hope CDP is approximately three-fourths the size.

The next section examines a variety of different income statistics for the New Hope CDP metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $15,000 and $19,999 at 100.0% 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 60.5% which is more than all other places in the greater New Hope CDP region.

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

New Hope 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 indicates that from February 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly unemployment rate went from 10.0% to 3.8% in February 2020. This represents a decrease in the monthly unemployment rate of 62.0%. Since that time, the monthly unemployment rate has gone to 3.6% This represents a decrease in the monthly unemployment rate of 5.3%. 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 shows that from February 2010 to before the Coronavirus Pandemic the monthly labor force participation went from 12,866 to 13,888 in March 2020. This represents an increase in the monthly labor force participation of 7.9%. Since that time, the monthly labor force participation has gone to 13,731 This represents a decrease in the monthly labor force participation of very little. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. New Hope CDP shows it has a Labor Force Participation of 12.7% which is the smallest in terms of participation rate of all the other places in the metro 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). New Hope CDP has the largest proportion of unemployed at 87.3% of the total and is ranked #1.

New Hope CDP Kentucky Poverty Charts

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.) New Hope CDP depicts it has a Public Assistance Percent of 21.1% which is the third most households with public assistance of all other places in the greater New Hope CDP region. The place with the highest households with public assistance in the area is Buffalo CDP which depicts a households with public assistance of 41.3% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). New Hope CDP shows it has a Gini Index of 9.9% which is the smallest in order of the gini index of all the other places in the local area.

New Hope CDP Kentucky Work Commute Charts

New Hope CDP Kentucky Jobs Charts

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