Silver Grove Kentucky Income Charts

This section shows the Silver Grove Kentucky economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Silver Grove shows it has a Median earnings of $39,633 which is the second smallest in terms of median earnings per worker of all the other places in the local area. The city with the highest median earnings per worker in the area is Fruit Hill CDP which shows a median earnings of $62,525 (57.8% larger). Comparing median earnings per worker to the United States average of $50,459, Silver Grove is approximately three-fourths the size. Also, measured against the state of Kentucky, median earnings per worker of $44,129, 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 $39,553 which is the smallest in order of median household income of all the other places in the local area. The city with the highest median household income in the area is Fruit Hill CDP which depicts a median income of $79,935 (about twice as large). Comparing median household income to the United States average of $64,994, Silver Grove is approximately three-fourths the size. Also, measured against the state of Kentucky, median household income of $52,238, 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 less than most other places in the metro area at 4.5% of the total. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 10.5% of the total and is ranked #1. Third, it has the largest proportion of earnings between $15,000 and $19,999 at 44.0% of the total and is ranked #1. Also, it has the smallest proportion of earnings between $75,000 and $99,999 at 1.7% 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 39.4 which is the second most average hours of all the places in the greater Silver Grove region. The city with the highest average hours in the area is Melbourne which depicts an average hours of 40.7 (only about 3.3% 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 $19.34 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 depicts an average hourly earnings of $31.15 (61.0% larger). Comparing average hourly earnings to the United States average of $25.01, Silver Grove is approximately three-fourths the size. Also, versus the state of Kentucky, average hourly earnings of $21.76, Silver Grove is about 12.5% 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 4.1% which is the smallest in order of 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 Highland Heights which shows a percentage self employed of 9.3% (approximately 2.2 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 $48,750 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $39,025 of the total. Third, it has the largest proportion of median income-45 to 64 years at $68,333 of the total and is ranked #1.

Figure 9 breaks down the source of income and Silver Grove has the largest proportion of investment and retirement income at 11.3% of the total and is ranked #1. Second, it has the largest proportion of social security at 1.6% 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 5.4% which is the smallest in terms of households with retirement income of all the other places in the local area. The city with the highest households with retirement income in the area is Cold Spring which shows a households with retirement income of 29.2% ( appreciably bigger).

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 area at $67,250 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 indicates that from January 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly unemployment rate went from 12.0% to 4.9% in March 2020. This represents a decrease in the monthly unemployment rate of 59.2%. Since that time, the monthly unemployment rate has gone to 4.2% This represents a decrease in the monthly unemployment rate of 14.3%. 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 COVID Pandemic the monthly labor force participation went from 19,046 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 18,629 This represents a decrease 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 2.9% which is the second most of all the places in the metro area. The city with the highest unemployment rate in the area is Crestview which depicts a rate of 3.4% (15.5% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Silver Grove shows it has a Labor Force Participation of 65.6% which is the third most participation rates of all other places in the greater Silver Grove 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 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 Silver Grove area. Silver Grove depicts it has a Single Earner Families of 22.9% which is less than most other places in the local area. The city with the highest families with a single earner in the area is Melbourne which shows a single earners rate of 35.8% (56.3% larger). The percentage of families with no one working is depicted in Figure 22. Silver Grove depicts it has a Families with No One Working of 10.6% which is less than most other places in the local area. The city with the highest families with no one working in the area is Cold Spring which depicts a families with no worker of 24.3% (approximately 2.3 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 depicts it has a Total In Poverty of 359 which is the second most of all the places in the area. The city with the highest total people earning less than the poverty level in the area is Highland Heights which shows a total people earning less than the poverty level of 1,310 (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. Silver Grove depicts it has a Percent of Population In Poverty of 24.6% which is the second most percent of people earning less than the poverty level of all the places in the greater Silver Grove region. The city with the highest percent of people earning less than the poverty level in the area is Melbourne which depicts a percent of people in poverty of 33.4% (35.7% larger).

In Figure 25 people who are in poverty are broken out by age group. Silver Grove has the largest proportion of person in poverty under 12 years at 8% of the total and is ranked #1. Second, it has in the mid range of other places in the local area in terms of person in poverty 12 to 17 years at 13% of the total. Third, it has one of the largest proportions of person in poverty 35 to 54 years at 23% of the total and is ranked #3. Only #2 Fruit Hill CDP (25%), and #1 Cold Spring (42%) are larger. Also, it has the second smallest in order of person in poverty under 12 years of all the other places in the local area when sorted by person in poverty 55 to 64 years at 5% of the total.

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 70% of the total and is ranked #1. Second, it has one of the largest proportions of hawaiian poverty rate at 89% of the total and is ranked #2. The only larger city being Melbourne 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 59% of the total and is ranked #1. Second, it has one of the largest proportions of unmarried with children and in poverty at 45% of the total and is ranked #2. The only larger city being Salem Heights CDP with 53%. Third, it has the largest proportion of unmarried female with children and in poverty at 71% 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 3% of the total and is ranked #3. Only #2 Highland Heights (14%), and #1 Melbourne (54%) are larger. 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 10.1% which is the largest of all places in the greater region.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Silver Grove depicts it has a Gini Index of 39.4% which is the third most of all other places in the surrounding region.

Silver Grove Kentucky Work Commute Charts

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.

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 21% of the total and is ranked #1. Second, it has the smallest proportion of people who leave for work between 8am to 830am at 3% of the total. Third, it has the largest proportion of people who leave for work between 11am to 12noon at 10% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 12noon to 4pm 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. 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 metro area at 4% of the total. Second, it has the smallest proportion of people with commute time between 5 to 9 minutes at 9% of the total. Third, it has the smallest proportion of people with commute time between 10 to 14 minutes at 8% of the total. Also, it has the largest proportion of people with commute time between 15 to 19 minutes at 28% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 20 to 24 minutes at 18% of the total and is ranked #1. Furthermore, it has the smallest proportion of people with commute time between 40 to 44 minutes at 1% of the total.

The average commute time is shown in Figure 37. Silver Grove depicts it has a Avg Commute Time of 22 which is in the center range of other places in the local area. Figure 38 shows the difference between male versus female commuting time. Silver Grove shows average commute time in minutes for men 44.3% 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 33% of the total and is ranked #1. Second, it has the smallest proportion of 1 vehicle available at 36% of the total. Third, it has the smallest proportion of 2 vehicles available at 17% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Silver Grove shows it has a Work in city or place where live of 16% which is the second most people who both work and live in the same city of all the places in the greater Silver Grove region. The city with the highest people who both work and live in the same city in the area is Highland Heights which shows a people who both work and live in the same city of 22% (41.4% larger). Comparing people who both work and live in the same city to the United States average of 43%, 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 45%, 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 $52,344 for the management, business, and financial occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Silver Grove depicts it has the hightest median earnings of $59,375 for the management, business, and financial occupations group. 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 shows it has the hightest entrepreneurs of 100% 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. Silver Grove shows it has the hightest entrepreneurs of 100% for the self employed in wholesale trade group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Silver Grove shows it has a Self Employment Income of $25,741 which is the third most of all other places in the local area. The city with the highest average annual self employment income in the area is Crestview which shows an average annual self employment income of $29,150 (13.2% larger). Comparing average annual self employment income to the United States average of $40,101, Silver Grove is approximately three-fourths the size. Also, measured against the state of Kentucky, average annual self employment income of $33,049, Silver Grove 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.) Silver Grove depicts total number of self-employed men 55.6% larger as the total number of self-employed women.