Franklin Parish Income Charts

This section shows the Franklin Parish Louisiana economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Franklin Parish shows it has a median earnings per worker of $33,839 which is in the mid point range of other counties in the metro area. The county with the highest median earnings per worker in the area is Catahoula Parish which depicts a median earnings of $39,968 (18.1% larger). Comparing median earnings per worker to the United States average of $47,712, Franklin Parish is approximately three-fourths the size. Also, in comparison with the state of Louisiana, median earnings per worker of $42,397, Franklin Parish is approximately three-fourths the size.

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 $35,466 which is the third most median income of all other counties in the greater Franklin Parish region. The county with the highest median household income in the area is Ouachita Parish which shows a median income of $41,314 (16.5% larger). Comparing median household income to the United States average of $60,293, Franklin Parish is approximately half the size. Also, in contrast to the state of Louisiana, median household income of $47,942, 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 it has one of the largest proportions of earnings less than $10,000 at 19.9% of the total and is ranked #3. Only #2 Caldwell Parish (20.3%), and #1 Tensas Parish (23.7%) are larger.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has an average hours of 41.0 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 shows an average hours of 43.0 (only about 4.9% 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 $15.87 which is less than most other counties in the local area. The county with the highest average hourly earnings in the area is Ouachita Parish which shows an average hourly earnings of $19.38 (22.1% larger). Comparing average hourly earnings to the United States average of $23.71, Franklin Parish is approximately three-fourths the size. Also, versus the state of Louisiana, average hourly earnings of $20.49, 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 shows it has a percentage of people self employed of 8.9% which is the second most people self employed of all the counties in the greater Franklin Parish region. The county with the highest percentage of people self employed in the area is Catahoula Parish which depicts a percentage self employed of 10.3% (16.5% larger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $29,625 of the total and is ranked #1. Second, it has in the mid range of other counties in the local area in terms of median income-25 to 44 years at $37,283 of the total. Third, it has less than most other counties in the local area in terms of median income-45 to 64 years at $38,786 of the total. Also, it has one of the largest proportions of median income-65 years and over at $28,732 of the total and is ranked #2. The only larger county being Ouachita Parish with $33,176.

Figure 9 breaks down the source of income and Franklin Parish has the largest proportion of self employment income at 7.2% 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 households with retirement income of 18.3% which is the third most households with retirement income of all other 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 20.5% (12.5% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $46,178 of the total and is ranked #3. Only #2 Ouachita Parish ($53,714), and #1 Catahoula Parish ($57,031) are larger. Second, it has in the intermediate range of other counties in the local area in order of white family income at $56,327 of the total. Third, it has in the center range of other counties in the greater region as measured by black family income at $28,312 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. Franklin Parish shows it has the hightest cost of 99.3 for the cost of miscellaneous items group.

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 January 2010 to before the disasterous COVID-19 Pandemic the monthly unemployment rate went from 12.0% to 9.5% in March 2020. This represents a decrease in the monthly unemployment rate of 20.8%. Since that time, the monthly unemployment rate has gone to 7.9% This represents a decrease in the monthly unemployment rate of 16.8%. 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-19 Pandemic the monthly labor force participation went from 7,929 to 7,629 in March 2020. This represents a decrease in the monthly labor force participation of 3.8%. Since that time, the monthly labor force participation has gone to 7,460 This represents a decrease in the monthly labor force participation of 2.2%.

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 depicts it has an unemployment rate of 4.9% which is the second most of all the counties in the metro area. The county with the highest unemployment rate in the area is Tensas Parish which indicates a rate of 7.2% (46.7% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Franklin Parish shows it has a participation rate of 50.5% which is the third most participation rates of all other counties in the greater Franklin Parish region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Franklin Parish depicts full time employees approximately 4.8 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 Franklin Parish area. Franklin Parish depicts it has a families with a single earner of 38.8% 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 42.4% (9.2% 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 17.9% which is the second smallest in terms of families with no one working of all the other counties in the metropolitan area. The county with the highest families with no one working in the area is Tensas Parish which shows a families with no worker of 33.2% (about twice as large).

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 shows it has a total people earning less than the poverty level of 5,413 which is the third most total people earning less than the poverty level of all other counties in the greater Franklin Parish region. The county with the highest total people earning less than the poverty level in the area is Ouachita Parish which indicates a total people earning less than the poverty level of 35,477 ( considerably 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 people earning less than the poverty level of 28.3% which is in the mid range of other counties in the greater region. The county with the highest percent of people earning less than the poverty level in the area is Tensas Parish which shows a percent of people in poverty of 40.0% (41.4% larger).

In Figure 25 people who are in poverty are broken out by age group. Franklin Parish has the largest proportion of person in poverty under 12 years at 35% of the total and is ranked #1. Second, it has the smallest proportion of person in poverty 12 to 17 years at 6% of the total. Third, it has the smallest proportion of person in poverty 65+ 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 percentage of hispanicp poverty rate less than most other counties in the local area at 24% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Franklin Parish has the percentage of married with children and in poverty less than most other counties in the greater region at 17% of the total. Second, it has one of the largest proportions of unmarried with children and in poverty at 70% of the total and is ranked #2. The only larger county being Tensas Parish with 74%. Third, it has one of the largest proportions of unmarried female with children and in poverty at 75% of the total and is ranked #3. Only #2 Tensas Parish (77%), and #1 Catahoula Parish (81%) are larger. Also, it has one of the largest proportions of unmarried male with children and in poverty at 52% of the total and is ranked #2. The only larger county being Tensas Parish with 58%. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Franklin Parish has the smallest proportion of people who are in poverty and not in labor force at 16.1% 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.) Franklin Parish depicts it has a households with public assistance of 21.5% which is in the mid range of other counties in the local area. The county with the highest households with public assistance in the area is Madison Parish which depicts a households with public assistance of 25.7% (19.5% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Franklin Parish depicts it has a the gini index of 48.9% which is less than most 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 work at home 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 at 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 the percentage of people who leave for work between 12am to 5am the second smallest in terms of people who leave for work between 12am to 5am of all the other counties in the surrounding region at 3% of the total. Second, it has the largest proportion of people who leave for work between 5am to 530am at 5% 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. Franklin Parish has the percentage of people with commute time of less than 5 minutesutes less than most other counties in the greater region at 3% of the total. Second, it has the second smallest when sorted by people with commute time of less than 5 minutes of all the other counties in the metro area when sorted by people with commute time between 5 to 9 minutes at 13% of the total. Third, it has the largest proportion of people with commute time between 15 to 19 minutes at 25% of the total and is ranked #1.

The average commute time is shown in Figure 37. Franklin Parish shows it has an average 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 depicts average commute time in minutes for men 29.6% 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 4 vehicles available at 7% of the total and is ranked #2. The only larger county being Richland Parish with 9%. Second, it has one of the largest proportions of 5 or more vehicles available at 4% of the total and is ranked #3. Only #2 Tensas Parish (4%), and #1 Catahoula Parish (6%) are larger. 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 people who both work and live in the same city of 44% which is the second most of all the counties in the local area. 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% (31.0% larger). Comparing people who both work and live in the same city to the United States average of 42%, Franklin Parish is 6.1% larger. Also, compared to the state of Louisiana, people who both work and live in the same city of 45%, Franklin Parish is about the same size.

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 $70,375 for the earnings-computer, engineering, and science occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Franklin Parish shows it has the hightest median earnings of $55,250 for the earnings-protective service occupations group. 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 59% for the self employed management, business, science, and arts 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. Franklin Parish shows it has the hightest entrepreneurs of 24% for the self employed in agriculture, forestry, fishing and hunting, and mining aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Franklin Parish depicts it has an average annual self employment income of $41,062 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 Richland Parish which shows an average annual self employment income of $41,400 ( about the same size). Comparing average annual self employment income to the United States average of $37,819, Franklin Parish is 8.6% larger. Also, compared with the state of Louisiana, average annual self employment income of $36,403, 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 3.3 times bigger as the total number of self-employed women.