Franklin Parish Income Charts

This section shows the Franklin Parish Louisiana economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Franklin Parish depicts it has a Median earnings of $37,667 which is less than most other counties in the local area. The county with the highest median earnings per worker in the area is Ouachita Parish which depicts a median earnings of $43,648 (15.9% larger). Comparing median earnings per worker to the United States average of $53,269, Franklin Parish is approximately three-fourths the size. Also, benchmarked against the state of Louisiana, median earnings per worker of $47,455, 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 $38,250 which is less than most other counties in the surrounding region. The county with the highest median household income in the area is Ouachita Parish which shows a median income of $46,021 (20.3% larger). Comparing median household income to the United States average of $69,021, Franklin Parish is approximately half the size. Also, measured against the state of Louisiana, median household income of $53,571, Franklin Parish is approximately three-fourths the size. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $16.81 which is the second smallest in terms of average hourly earnings of all the other counties in the metro area. The county with the highest average hourly earnings in the area is Ouachita Parish which indicates an average hourly earnings of $21.63 (28.7% larger). Comparing average hourly earnings to the United States average of $26.40, Franklin Parish is approximately three-fourths the size. Also, benchmarked against the state of Louisiana, average hourly earnings of $22.99, Franklin Parish is approximately three-fourths the size.

Figure 5 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 Self Employed of 8.3% which is the third most people self employed of all other counties in the greater Franklin Parish region. The county with the highest percentage of people self employed in the area is Catahoula Parish which shows a percentage self employed of 10.9% (31.6% larger).

The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 22.2% which is more than 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 8. Franklin Parish shows full time employees substantially bigger as the part time employees.

Similar to the last chart is Figure 9 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 depicts it has the hightest entrepreneurs of 46% for the self employed in agriculture, forestry, fishing and hunting, and mining aggregate.

Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Franklin Parish depicts it has the hightest cost of 99.3 for the cost of miscellaneous items category.

Franklin Parish Poverty Charts

In Figure 11 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 27.1% which is less than most other counties in the metropolitan area. The county with the highest percent of people earning less than the poverty level in the area is Tensas Parish which depicts a percent of people in poverty of 37.1% (36.8% larger). Additionally, Figure 12 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 shows it has a Public Assistance Percent of 21.3% which is less than most other counties in the local area. The county with the highest households with public assistance in the area is Richland Parish which depicts a households with public assistance of 26.0% (22.0% larger).

Franklin Parish Labor Force Charts

The table in Figure 13, shows Franklin Parish employment data in terms of job categories and salary data.

The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the Coronavirus Pandemic it went from 8.0% to 7.5% in December 2019. This represents a decrease in the monthly unemployment rate of 6.3%. Since that time, the monthly unemployment rate has gone to 7.5%. This represents an increase in the monthly unemployment rate of very little.

Franklin Parish Jobs Charts

In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.

Figure 16 shows the average median earnings for different categories of jobs.

Franklin Parish Work Commute Charts

Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.

The average commute time is shown in Figure 21. Franklin Parish shows it has a Avg Commute Time of 25 which is in the mid point range of other counties in the local area.