Waco-Bybee CCD Kentucky Income Charts

This section shows the Waco-Bybee 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, Waco-Bybee CCD depicts it has a median earnings per worker of $43,652 which is the most of all places in the greater Waco-Bybee CCD region. Comparing median earnings per worker to the United States average of $47,712, Waco-Bybee CCD is about 9.3% smaller. Also, benchmarked against the state of Kentucky, median earnings per worker of $41,808, Waco-Bybee CCD is only about 4.4% larger.

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 $50,817 which is the most of all places in the greater Waco-Bybee CCD region. Comparing median household income to the United States average of $60,293, Waco-Bybee CCD is about 18.6% smaller. Also, measured against the state of Kentucky, median household income of $48,392, Waco-Bybee CCD is only about 5.0% larger.

The next section examines a variety of different income statistics for the Waco-Bybee CCD 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 18.0% of the total. Second, it has the largest proportion of earnings between $50,000 and $74,999 at 26.1% of the total and is ranked #1. Third, it has the largest proportion of earnings of $100,000 more at 4.3% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has an average hours of 39.3 which is the second most average hours of all the places in the greater Waco-Bybee CCD region. The place with the highest average hours in the area is Irvine which depicts an average hours of 40.5 (only about 3.1% 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 $21.36 which is the second most average hourly earnings of all the places in the greater Waco-Bybee CCD region. The place with the highest average hourly earnings in the area is Berea which shows an average hourly earnings of $21.79 ( only slightly larger). Comparing average hourly earnings to the United States average of $23.71, Waco-Bybee CCD is about 11.0% smaller. Also, compared with the state of Kentucky, average hourly earnings of $20.67, Waco-Bybee CCD is only about 3.3% larger.

Figure 7 examines the number of self employed people in the Waco-Bybee CCD metro area based on the number of people who reported any self employment income. Waco-Bybee CCD shows it has a percentage of people self employed of 8.1% which is less than most other places in the greater region. The place with the highest percentage of people self employed in the area is Clay City which depicts a percentage self employed of 11.7% (44.5% larger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-25 to 44 years at $65,862 of the total and is ranked #1. Second, it has in the intermediate range of other places in the metro area when sorted by median income-45 to 64 years at $44,758 of the total. Third, it has one of the largest proportions of median income-65 years and over at $37,750 of the total and is ranked #2. The only larger place being Ravenna with $39,643.

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 22.8% which is the second most households with retirement income of all the places in the greater Waco-Bybee CCD region. The place with the highest households with retirement income in the area is Ravenna which shows a households with retirement income of 31.9% (39.6% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $67,320 of the total and is ranked #1. Second, it has the largest proportion of white family income at $67,371 of the total and is ranked #1.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Waco-Bybee CCD depicts it has the hightest cost of 97.6 for the cost of transportation group.

Waco-Bybee 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 depicts that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly unemployment rate went from 8.5% to 3.7% in December 2019. This represents a decrease in the monthly unemployment rate of 56.5%. Since that time, the monthly unemployment rate has gone to 3.7% 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 depicts that from January 2010 to before the Wuhan virus Pandemic the monthly labor force participation went from 16,032 to 19,126 in November 2019. This represents an increase in the monthly labor force participation of 19.3%. Since that time, the monthly labor force participation has gone to 19,126 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 Waco-Bybee CCD shows it has an unemployment rate of 4.2% which is less than most other places in the greater region. The place with the highest unemployment rate in the area is Ravenna which depicts a rate of 9.9% (approximately 2.3 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Waco-Bybee CCD depicts it has a participation rate of 59.9% which is in the mid point range of other places in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Waco-Bybee CCD shows full time employees approximately 4.4 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 Waco-Bybee CCD area. Waco-Bybee CCD depicts it has a families with a single earner of 28.8% which is in the middle range of other places in the local area. The place with the highest families with a single earner in the area is Ravenna which shows a single earners rate of 35.1% (22.0% larger). The percentage of families with no one working is depicted in Figure 22. Waco-Bybee CCD shows it has a families with no one working of 22.4% 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 Irvine which depicts a families with no worker of 39.8% (77.9% larger).

Waco-Bybee CCD Kentucky Poverty Charts

The next section details economy analysis about poverty for residents of the Waco-Bybee 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. Waco-Bybee CCD depicts it has a total people earning less than the poverty level of 976 which is in the mid range of other places in the area. The place with the highest total people earning less than the poverty level in the area is Richmond which depicts a total people earning less than the poverty level of 9,122 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Waco-Bybee CCD shows it has a percent of people earning less than the poverty level of 16.1% which is the smallest in order of percent of people earning less than the poverty level of all the other places in the local area. The place with the highest percent of people earning less than the poverty level in the area is Clay City which shows a percent of people in poverty of 38.1% (approximately 2.4 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Waco-Bybee CCD has the largest proportion of person in poverty under 12 years at 34% of the total and is ranked #1. Second, it has the second smallest in terms of person in poverty under 12 years of all the other places in the surrounding region in terms of person in poverty 18 to 34 years at 18% of the total. Third, it has the largest proportion of person in poverty 35 to 54 years at 26% of the total and is ranked #1. Also, it has the smallest proportion of person in poverty 55 to 64 years at 8% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Waco-Bybee CCD has the percentage of white poverty rate the second smallest in order of white poverty rate of all the other places in the metro area at 17% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Waco-Bybee CCD has one of the largest proportions of unmarried with children and in poverty at 64% of the total and is ranked #2. The only larger place being Clay City with 84%. Second, it has the largest proportion of unmarried male with children and in poverty at 100% 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. Waco-Bybee CCD has the percentage of less than highschool in poverty the second smallest in order of less than highschool in poverty of all the other places in the local area at 29% of the total. Second, it has the smallest proportion of has some college and in poverty at 4% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Waco-Bybee CCD has the smallest proportion of people who are in poverty and employed at 7.7% of the total. Second, it has the second smallest when sorted by people who are in poverty and employed of all the other places in the greater region when sorted by people who are in poverty and not in labor force at 9.3% 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.) Waco-Bybee CCD shows it has a households with public assistance of 14.3% which is the smallest in terms of households with public assistance of all the other places in the greater region. The place with the highest households with public assistance in the area is Clay City which depicts a households with public assistance of 42.7% (approximately 3.0 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Waco-Bybee CCD depicts it has a the gini index of 44.4% which is less than most other places in the local area.

Waco-Bybee CCD Kentucky Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Waco-Bybee CCD or elsewhere.) Waco-Bybee CCD has the largest proportion of people who drove alone at 85% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Waco-Bybee CCD has the percentage of people who leave for work between 12am to 5am the second smallest as measured by people who leave for work between 12am to 5am of all the other places in the local area at 3% of the total. Second, it has the largest proportion of people who leave for work between 530 am to 6am at 9% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 6am to 630am at 19% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 630 am to 7am at 12% of the total and is ranked #1. In addition, it has the smallest proportion of people who leave for work between 8am to 830am at 4% of the total. Furthermore, it has the largest proportion of people who leave for work between 11am to 12noon at 4% 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. Waco-Bybee CCD has the smallest proportion of people with commute time of less than 5 minutesutes at 3% of the total. Second, it has the smallest proportion of people with commute time between 5 to 9 minutes at 2% of the total. Third, it has the smallest proportion of people with commute time between 10 to 14 minutes at 9% of the total. Also, it has one of the largest proportions of people with commute time between 15 to 19 minutes at 21% of the total and is ranked #2. The only larger place being Clay City with 29%. In addition, it has the largest proportion of people with commute time between 20 to 24 minutes at 13% of the total and is ranked #1. Furthermore, it has the largest proportion of people with commute time between 30 to 34 minutes at 25% of the total and is ranked #1. Next it has less than most other places in the greater region when sorted by people with commute time between 60 to 89 minutes at 4% of the total.

The average commute time is shown in Figure 37. Waco-Bybee CCD shows it has an average commute time of 27 which is the second most average commute time of all the places in the greater Waco-Bybee CCD region. Figure 38 shows the difference between male versus female commuting time. Waco-Bybee CCD depicts average commute time in minutes for men 40.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Waco-Bybee CCD has the smallest proportion of 1 vehicle available at 14% of the total. Second, it has the second smallest when sorted by no vehicle available of all the other places in the metro area when sorted by 2 vehicles available at 36% of the total. Third, it has the largest proportion of 3 vehicles available at 28% of the total and is ranked #1. Also, it has one of the largest proportions of 4 vehicles available at 11% of the total and is ranked #2. The only larger place being Ravenna with 14%. In addition, it has the largest proportion of 5 or more vehicles available at 12% of the total and is ranked #1.

Waco-Bybee 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. Waco-Bybee CCD depicts it has the hightest median earnings of $96,042 for the management, business, and financial occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and Waco-Bybee CCD shows it has the hightest median earnings of $51,250 for the management, business, and financial occupations category. The table in Figure 48, shows Waco-Bybee CCD employment data in terms of job categories and salary data.

Waco-Bybee 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. Waco-Bybee CCD shows it has the hightest entrepreneurs of 65% for the self employed in natural resources, construction, and maintenance 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. Waco-Bybee CCD depicts it has the hightest entrepreneurs of 35% for the self employed in professional, scientific, management, administrative services group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Waco-Bybee CCD depicts it has an average annual self employment income of $11,530 which is the second smallest when sorted by average annual self employment income of all the other places in the greater region. The place with the highest average annual self employment income in the area is Richmond which depicts an average annual self employment income of $33,191 (approximately 2.9 times bigger). Comparing average annual self employment income to the United States average of $37,819, Waco-Bybee CCD is approximately a third the size. Also, compared to the state of Kentucky, average annual self employment income of $30,549, Waco-Bybee CCD is approximately a third the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Waco-Bybee CCD depicts total number of self-employed men about twice as large as the total number of self-employed women.