Silver Grove Kentucky Income Charts

This section shows the Silver Grove Kentucky economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Silver Grove depicts it has a Median earnings of $41,405 which is the second smallest when sorted by median earnings per worker of all the other places in the metro area. The city with the highest median earnings per worker in the area is Fruit Hill CDP which shows a median earnings of $65,663 (58.6% larger). Comparing median earnings per worker to the United States average of $53,269, Silver Grove is approximately three-fourths the size. Also, compared to the state of Kentucky, median earnings per worker of $46,067, Silver Grove is about 11.3% smaller.

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 $41,362 which is the smallest in terms of median household income of all the other places in the area. The city with the highest median household income in the area is Fruit Hill CDP which shows a median income of $84,877 (about twice as large). Comparing median household income to the United States average of $69,021, Silver Grove is approximately three-fourths the size. Also, in contrast to the state of Kentucky, median household income of $55,454, Silver Grove is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Silver Grove metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 the second smallest in terms of median earnings of less than $10,000 of all the other places in the metro area at 4.1% of the total. Second, it has one of the largest proportions of earnings between $10,000 and $14,999 at 10.0% of the total and is ranked #2. The only larger city being Fruit Hill CDP with 11.0%. Third, it has the largest proportion of earnings between $15,000 and $19,999 at 46.0% of the total and is ranked #1. Also, it has the smallest proportion of earnings between $50,000 and $74,999 at 0.4% of the total. In addition, it has the smallest proportion of earnings between $75,000 and $99,999 at 1.1% 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 38.8 which is the third most average hours of all other places in the greater Silver Grove region. The city with the highest average hours in the area is Melbourne which shows an average hours of 39.3 ( only slightly 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 $20.52 which is the smallest as measured by average hourly earnings of all the other places in the greater region. The city with the highest average hourly earnings in the area is Fruit Hill CDP which shows an average hourly earnings of $32.80 (59.8% larger). Comparing average hourly earnings to the United States average of $26.40, Silver Grove is approximately three-fourths the size. Also, measured against the state of Kentucky, average hourly earnings of $22.72, Silver Grove is about 10.7% smaller.

Figure 7 examines the number of self employed people in the Silver Grove metro area based on the number of people who reported any self employment income. Silver Grove depicts it has a Self Employed of 3.3% which is the second smallest as measured by percentage of people self employed of all the other places in the metro area. The city with the highest percentage of people self employed in the area is Salem Heights CDP which shows a percentage self employed of 15.9% (approximately 4.9 times bigger).

Turning our attention to Figure 8, the median household income by age group, has the smallest proportion of median income-under 25 years at $39,891 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $41,319 of the total.

Figure 9 breaks down the source of income and Silver Grove has the smallest proportion of self employment income at 4.7% of the total. Second, it has the largest proportion of social security at 2.0% 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 6.0% which is the smallest in terms of households with retirement income of all the other places in the greater region. The city with the highest households with retirement income in the area is Cold Spring which depicts a households with retirement income of 33.2% ( markedly bigger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the smallest proportion of overall family income at $62,500 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. Silver Grove shows it has the hightest cost of 100.2 for the cost of utilities group.

Silver Grove 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 February 2010 to before the Coronavirus Pandemic the monthly unemployment rate went from 12.4% to 4.0% in February 2020. This represents a decrease in the monthly unemployment rate of 67.7%. Since that time, the monthly unemployment rate has gone to 3.9% This represents a decrease in the monthly unemployment rate of 2.5%. 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 19,148 to 18,864 in March 2020. This represents a decrease in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 19,024 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 Silver Grove depicts it has a Unemployment Rate of 3.0% which is the second most unemployment rate of all the places in the greater Silver Grove region. The city with the highest unemployment rate in the area is Crestview which shows a rate of 5.1% (70.4% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Silver Grove depicts it has a Labor Force Participation of 61.0% which is less than most other places in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Silver Grove depicts full time employees substantially 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 Silver Grove area. Silver Grove shows it has a Single Earner Families of 19.0% which is the second smallest as measured by families with a single earner of all the other places in the local area. The city with the highest families with a single earner in the area is Melbourne which indicates a single earners rate of 41.5% (about twice as large). The percentage of families with no one working is depicted in Figure 22. Silver Grove indicates it has a Families with No One Working of 7.7% which is in the mid range of other places in the greater region. The city with the highest families with no one working in the area is Melbourne which shows a families with no worker of 29.3% (approximately 3.8 times bigger).

Silver Grove Kentucky Poverty Charts

The next section details economy analysis about poverty for residents of the Silver Grove 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. Silver Grove shows it has a Total In Poverty of 416 which is the second most of all the places in the local area. The city with the highest total people earning less than the poverty level in the area is Highland Heights which depicts a total people earning less than the poverty level of 1,269 (approximately 3.1 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Silver Grove shows it has a Percent of Population In Poverty of 28.7% which is at the top of all other places in the greater Silver Grove region.

In Figure 25 people who are in poverty are broken out by age group. Silver Grove has the percentage of person in poverty 12 to 17 years in the mid point range of other places in the metro area at 10% of the total. Second, it has one of the largest proportions of person in poverty 35 to 54 years at 21% of the total and is ranked #2. The only larger city being Cold Spring with 31%.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Silver Grove has the largest proportion of white poverty rate at 77% of the total and is ranked #1. Second, it has one of the largest proportions of hawaiian poverty rate at 79% of the total and is ranked #2. The only larger city being Highland Heights with 100%.

Figure 27 shows key poverty statistics for groups based on marriage status. Silver Grove has the largest proportion of married with children and in poverty at 57% of the total and is ranked #1. Second, it has one of the largest proportions of unmarried with children and in poverty at 49% of the total and is ranked #2. The only larger city being Salem Heights CDP with 58%. Third, it has the largest proportion of unmarried female with children and in poverty at 62% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Silver Grove has the largest proportion of highschool graduate and in poverty at 28% of the total and is ranked #1. Second, it has one of the largest proportions of has some college and in poverty at 36% of the total and is ranked #2. The only larger city being Melbourne with 47%. 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.) Silver Grove depicts it has a Public Assistance Percent of 12.5% which is the highest of all places in the greater Silver Grove region.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Silver Grove shows it has a Gini Index of 40.3% which is in the mid range of other places in the surrounding region.

Silver Grove Kentucky Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Silver Grove community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Silver Grove has the smallest proportion of people who bicycle or walk to work at 5% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Silver Grove or elsewhere.) Silver Grove has the largest proportion of people who took a taxicab, motorcycle or other at 3% of the total and is ranked #1. Second, it has the smallest proportion of people who work from home at 5% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Silver Grove has the largest proportion of people who leave for work between 630 am to 7am at 20% of the total and is ranked #1. Second, it has the smallest proportion of people who leave for work between 730 am to 8am at 8% of the total. Third, it has the smallest proportion of people who leave for work between 8am to 830am at 3% of the total. Also, it has the largest proportion of people who leave for work between 11am to 12noon at 13% 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. Silver Grove has the percentage of people with commute time of less than 5 minutesutes the second smallest in terms of people with commute time of less than 5 minutes of all the other places in the greater region at 4% of the total. Second, it has the smallest proportion of people with commute time between 10 to 14 minutes at 9% of the total. Third, it has the largest proportion of people with commute time between 15 to 19 minutes at 23% of the total and is ranked #1. Also, it has the largest proportion of people with commute time between 20 to 24 minutes at 17% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 30 to 34 minutes at 3% of the total and is ranked #1. Furthermore, it has the smallest proportion of people with commute time between 40 to 44 minutes at 0% of the total.

The average commute time is shown in Figure 37. Silver Grove shows it has a Avg Commute Time of 21 which is less than most other places in the surrounding region. Figure 38 shows the difference between male versus female commuting time. Silver Grove shows average commute time in minutes for men 54.3% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Silver Grove has the largest proportion of no vehicle available at 35% of the total and is ranked #1. Second, it has the smallest proportion of 1 vehicle available at 34% of the total. Third, it has in the mid range of other places in the metro area when sorted by 3 vehicles available at 10% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Silver Grove depicts it has a Work in city or place where live of 17% which is in the center range of other places in the area. The city with the highest people who both work and live in the same city in the area is Highland Heights which depicts a people who both work and live in the same city of 28% (66.7% larger). Comparing people who both work and live in the same city to the United States average of 44%, Silver Grove is approximately a third the size. Also, compared to the state of Kentucky, people who both work and live in the same city of 53%, Silver Grove is approximately a third the size.

Silver Grove 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. Silver Grove depicts it has the hightest median earnings of $55,000 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 Silver Grove shows it has the hightest median earnings of $46,563 for the earnings-education, legal, community service, arts, media occupations grouping. The table in Figure 48, shows Silver Grove employment data in terms of job categories and salary data.

Silver Grove 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. Silver Grove depicts it has the hightest entrepreneurs of 100% for the self employed management, business, science, and arts businesses aggregate.

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. Silver Grove depicts it has the hightest entrepreneurs of 100% for the self employed in wholesale trade category.

In Figure 51 the average annual self employment/entrepreneur income is shown. Silver Grove depicts it has a Self Employment Income of $38,357 which is the second most average annual self employment income of all the places in the greater Silver Grove region. The city with the highest average annual self employment income in the area is Crestview which shows an average annual self employment income of $39,847 (only about 3.9% larger). Comparing average annual self employment income to the United States average of $42,141, Silver Grove is about 9.9% smaller. Also, versus the state of Kentucky, average annual self employment income of $34,912, Silver Grove is 9.9% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Silver Grove shows total number of self-employed men 3 times bigger as the total number of self-employed women.