This section shows the Monomoscoy Island CDP Massachusetts economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Monomoscoy Island CDP depicts it has a Median earnings of $58,472 which is the second smallest when ranked by median earnings per worker of all the other places in the area. The place with the highest median earnings per worker in the area is New Seabury CDP which depicts a median earnings of $194,500 (approximately 3.3 times bigger). Comparing median earnings per worker to the United States average of $53,269, Monomoscoy Island CDP is 9.8% larger. Also, measured against the state of Massachusetts, median earnings per worker of $69,105, Monomoscoy Island CDP is about 18.2% 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 $81,563 which is less than most other places in the surrounding region. The place with the highest median household income in the area is New Seabury CDP which depicts a median income of $152,917 (about twice as large). Comparing median household income to the United States average of $69,021, Monomoscoy Island CDP is 18.2% larger. Also, compared to the state of Massachusetts, median household income of $89,026, Monomoscoy Island CDP is about 9.1% smaller.
The next section examines a variety of different income statistics for the Monomoscoy Island CDP metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $15,000 and $19,999 at 32.2% of the total and is ranked #1. 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 $28.54 which is less than most other places in the greater region. The place with the highest average hourly earnings in the area is New Seabury CDP which shows an average hourly earnings of $136.51 (approximately 4.8 times bigger). Comparing average hourly earnings to the United States average of $26.40, Monomoscoy Island CDP is 8.1% larger. Also, compared to the state of Massachusetts, average hourly earnings of $34.97, Monomoscoy Island CDP is about 22.5% smaller.
Figure 5 examines the number of self employed people in the Monomoscoy Island CDP metro area based on the number of people who reported any self employment income. Monomoscoy Island CDP depicts it has a Self Employed of 23.1% which is the second most people self employed of all the places in the greater Monomoscoy Island CDP region. The place with the highest percentage of people self employed in the area is Popponesset Island CDP which depicts a percentage self employed of 25.7% (11.4% larger).
Figure 6 breaks down the source of income and Monomoscoy Island CDP has the largest proportion of investment and retirement income at 12.3% of the total and is ranked #1.
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 12.8% which is the second smallest when sorted by households with retirement income of all the other places in the surrounding region. The place with the highest households with retirement income in the area is Popponesset Island CDP which depicts a households with retirement income of 51.4% (approximately 4.0 times bigger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Monomoscoy Island CDP shows full time employees 3 times 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. Monomoscoy Island CDP depicts it has the hightest entrepreneurs of 100% for the self employed in construction grouping.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Monomoscoy Island CDP shows it has the hightest cost of 311.7 for the cost of housing group.
Monomoscoy Island CDP Massachusetts Poverty Charts
Monomoscoy Island CDP Massachusetts Labor Force Charts
The table in Figure 13, shows Monomoscoy Island CDP 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 shows that from February 2017 to before the disasterous Covid-19 virus Pandemic it went from 6.3% to 3.4% in December 2019. This represents a decrease in the monthly unemployment rate of 46.0%. Since that time, the monthly unemployment rate has gone to 3.4%. This represents an increase in the monthly unemployment rate of very little.
Monomoscoy Island CDP Massachusetts 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.
Monomoscoy Island CDP Massachusetts 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 Monomoscoy Island CDP community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 17 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Monomoscoy Island CDP has the largest proportion of people who drive a car or motorcycle to work at 10% of the total and is ranked #1. Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Monomoscoy Island CDP or elsewhere.) Monomoscoy Island CDP has the largest proportion of people who take the ferry at 10% of the total and is ranked #1.
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. Monomoscoy Island CDP depicts it has a Avg Commute Time of 30 which is the second most of all the places in the local area.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.