Franklin Parish Income Charts

This section shows the Franklin Parish Louisiana economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Franklin Parish shows it has a Median earnings of $35,371 which is in the middle range of other counties in the local area. The county with the highest median earnings per worker in the area is Catahoula Parish which shows a median earnings of $42,605 (20.5% larger). Comparing median earnings per worker to the United States average of $49,041, Franklin Parish is approximately three-fourths the size. Also, in comparison with the state of Louisiana, median earnings per worker of $44,013, Franklin Parish is about 24.4% 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 $35,282 which is in the middle range of other counties in the local area. The county with the highest median household income in the area is Ouachita Parish which depicts a median income of $41,121 (16.5% larger). Comparing median household income to the United States average of $62,843, Franklin Parish is approximately half the size. Also, in contrast to the state of Louisiana, median household income of $49,469, Franklin Parish is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Franklin Parish metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 the second smallest when sorted by median earnings of less than $10,000 of all the other counties in the area at 9.6% 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 42.0 which is the second most average hours of all the counties in the greater Franklin Parish region. The county with the highest average hours in the area is Catahoula Parish which depicts an average hours of 43.8 (only about 4.3% 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 $16.20 which is less than most other counties in the metro area. The county with the highest average hourly earnings in the area is Caldwell Parish which depicts an average hourly earnings of $19.10 (17.9% larger). Comparing average hourly earnings to the United States average of $24.31, Franklin Parish is approximately three-fourths the size. Also, in comparison with the state of Louisiana, average hourly earnings of $21.32, Franklin Parish is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Franklin Parish metro area based on the number of people who reported any self employment income. Franklin Parish depicts it has a Self Employed of 7.6% which is less than most other counties in the metro area. The county with the highest percentage of people self employed in the area is Catahoula Parish which shows a percentage self employed of 11.4% (48.7% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the center range of other counties in the metro area at $35,780 of the total. Second, it has the second smallest in order of median income for those under 25 years of age of all the other counties in the local area when ranked by median income-25 to 44 years at $37,889 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $31,168 of the total and is ranked #2. The only larger county being Ouachita Parish with $35,067.

Figure 9 breaks down the source of income and Franklin Parish has the largest proportion of self employment income at 14.5% 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 19.4% which is the second most households with retirement income of all the counties in the greater Franklin Parish region. The county with the highest households with retirement income in the area is Caldwell Parish which depicts a households with retirement income of 21.4% (10.6% larger).

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 in terms of overall family income of all the other counties in the metropolitan area at $54,516 of the total. Second, it has one of the largest proportions of white family income at $31,063 of the total and is ranked #2. The only larger county being Catahoula Parish with $40,950.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Franklin Parish shows it has the hightest cost of 99.3 for the cost of miscellaneous items aggregate.

Franklin Parish 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 disasterous Covid-19 virus Pandemic the monthly unemployment rate went from 10.7% to 6.8% in February 2020. This represents a decrease in the monthly unemployment rate of 36.4%. Since that time, the monthly unemployment rate has gone to 8.5% This represents an increase in the monthly unemployment rate of 25.0%. 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 February 2010 to before the disasterous Coronavirus Pandemic the monthly labor force participation went from 8,101 to 7,300 in February 2020. This represents a decrease in the monthly labor force participation of 9.9%. Since that time, the monthly labor force participation has gone to 7,509 This represents an increase in the monthly labor force participation of 2.9%.

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 Franklin Parish shows it has a Unemployment Rate of 4.5% which is the second most unemployment rate of all the counties in the greater Franklin Parish region. The county with the highest unemployment rate in the area is Tensas Parish which shows a rate of 7.2% (59.5% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Franklin Parish depicts it has a Labor Force Participation of 48.4% which is the third most of all other counties in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Franklin Parish shows full time employees considerably 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 Franklin Parish area. Franklin Parish shows it has a Single Earner Families of 43.2% which is the second most families with a single earner of all the counties in the greater Franklin Parish region. The county with the highest families with a single earner in the area is Tensas Parish which shows a single earners rate of 47.5% (10.0% larger). The percentage of families with no one working is depicted in Figure 22. Franklin Parish depicts it has a Families with No One Working of 19.0% which is the second smallest when sorted by families with no one working of all the other counties in the metro area. The county with the highest families with no one working in the area is Tensas Parish which indicates a families with no worker of 30.0% (57.9% larger).

Franklin Parish Poverty Charts

The next section details economy analysis about poverty for residents of the Franklin Parish 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. Franklin Parish depicts it has a Total In Poverty of 5,511 which is the third most of all other counties in the metropolitan area. The county with the highest total people earning less than the poverty level in the area is Ouachita Parish which depicts a total people earning less than the poverty level of 36,766 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Franklin Parish depicts it has a Percent of Population In Poverty of 29.0% which is in the mid point range of other counties in the metro area. The county with the highest percent of people earning less than the poverty level in the area is Madison Parish which shows a percent of people in poverty of 36.4% (25.8% larger).

In Figure 25 people who are in poverty are broken out by age group. Franklin Parish has the smallest proportion of person in poverty 55 to 64 years at 9% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Franklin Parish has the smallest proportion of white poverty rate at 41% of the total. Second, it has the second smallest in terms of white poverty rate of all the other counties in the area as measured by hawaiian poverty rate at 6% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Franklin Parish has one of the largest proportions of married with children and in poverty at 68% of the total and is ranked #2. The only larger county being Tensas Parish with 70%. Second, it has in the mid range of other counties in the local area when ranked by unmarried female with children and in poverty at 44% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Franklin Parish has the largest proportion of has some college and in poverty at 7% of the total and is ranked #1. 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.) Franklin Parish depicts it has a Public Assistance Percent of 22.8% which is in the center range of other counties in the surrounding region. The county with the highest households with public assistance in the area is Madison Parish which depicts a households with public assistance of 30.6% (34.2% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Franklin Parish shows it has a Gini Index of 49.4% which is in the center range of other counties in the local area.

Franklin Parish 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 Franklin Parish 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.) Franklin Parish has the largest proportion of people who bicycle or walk to work at 3% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Franklin Parish or elsewhere.) Franklin Parish has the largest proportion of people who work from home 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. Franklin Parish has one of the largest proportions of people who leave for work between 12am to 5am at 6% of the total and is ranked #2. The only larger county being Tensas Parish with 6%. Second, it has the largest proportion of people who leave for work between 6am to 630am at 14% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 630 am to 7am at 23% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 730 am to 8am at 5% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Franklin Parish has the smallest proportion of people with commute time of less than 5 minutesutes at 7% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 17% of the total and is ranked #3. Only #2 Tensas Parish (19%), and #1 Ouachita Parish (22%) are larger. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 31% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 30 to 34 minutes at 0% of the total.

The average commute time is shown in Figure 37. Franklin Parish depicts it has a Avg Commute Time of 24 which is the third most average commute time of all other counties in the greater Franklin Parish region. Figure 38 shows the difference between male versus female commuting time. Franklin Parish shows average commute time in minutes for men 28.6% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Franklin Parish has one of the largest proportions of no vehicle available at 33% of the total and is ranked #3. Only #2 Richland Parish (34%), and #1 Tensas Parish (46%) are larger. Second, it has the largest proportion of 4 vehicles available at 5% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Franklin Parish depicts it has a Work in city or place where live of 43% which is the second most people who both work and live in the same city of all the counties in the greater Franklin Parish region. The county with the highest people who both work and live in the same city in the area is Madison Parish which depicts a people who both work and live in the same city of 58% (34.7% larger). Comparing people who both work and live in the same city to the United States average of 42%, Franklin Parish is only about 2.6% larger. Also, compared to the state of Louisiana, people who both work and live in the same city of 45%, Franklin Parish is only about 4.4% smaller.

Franklin Parish 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. Franklin Parish shows it has the hightest median earnings of $73,500 for the earnings-computer, engineering, and science occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Franklin Parish depicts it has the hightest median earnings of $57,639 for the earnings-protective service occupations aggregate. The table in Figure 48, shows Franklin Parish employment data in terms of job categories and salary data.

Franklin Parish 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. Franklin Parish depicts it has the hightest entrepreneurs of 57% for the self employed management, business, science, and arts businesses classification.

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. Franklin Parish shows it has the hightest entrepreneurs of 36% 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. Franklin Parish depicts it has a Self Employment Income of $42,554 which is the second most average annual self employment income of all the counties in the greater Franklin Parish region. The county with the highest average annual self employment income in the area is Madison Parish which depicts an average annual self employment income of $61,742 (45.1% larger). Comparing average annual self employment income to the United States average of $39,154, Franklin Parish is 8.7% larger. Also, benchmarked against the state of Louisiana, average annual self employment income of $37,722, Franklin Parish is 12.8% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Franklin Parish depicts total number of self-employed men approximately 4.8 times bigger as the total number of self-employed women.