New Bedford Massachusetts Income Charts

This section shows the New Bedford Massachusetts economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, New Bedford indicates it has a Median earnings of $46,638 which is the second smallest as measured by median earnings per worker of all the other places in the surrounding region. The city with the highest median earnings per worker in the area is Mattapoisett Center CDP which depicts a median earnings of $72,583 (55.6% larger). Comparing median earnings per worker to the United States average of $50,459, New Bedford is about 8.2% smaller. Also, measured against the state of Massachusetts, median earnings per worker of $64,762, New Bedford 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 $48,999 which is the second smallest in order of median household income of all the other places in the greater region. The city with the highest median household income in the area is Mattapoisett Center CDP which depicts a median income of $83,507 (70.4% larger). Comparing median household income to the United States average of $64,994, New Bedford is approximately three-fourths the size. Also, compared to the state of Massachusetts, median household income of $84,385, New Bedford is approximately half the size.

The next section examines a variety of different income statistics for the New Bedford metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 8.1% of the total and is ranked #2. The only larger city being Bliss Corner CDP with 11.7%. Second, it has one of the largest proportions of earnings between $15,000 and $19,999 at 35.0% of the total and is ranked #2. The only larger city being Fall River with 37.8%. Third, it has the smallest proportion of earnings between $50,000 and $74,999 at 7.5% of the total. Also, it has the smallest proportion of earnings between $75,000 and $99,999 at 4.6% 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 36.9 which is the second smallest in terms of average hours of all the other places in the metropolitan area. The city with the highest average hours in the area is North Westport CDP which depicts an average hours of 39.0 (only about 5.7% 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 $24.31 which is the second smallest when ranked by average hourly earnings of all the other places in the local area. The city with the highest average hourly earnings in the area is Mattapoisett Center CDP which depicts an average hourly earnings of $37.52 (54.4% larger). Comparing average hourly earnings to the United States average of $25.01, New Bedford is only about 2.9% smaller. Also, measured against the state of Massachusetts, average hourly earnings of $32.77, New Bedford is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the New Bedford metro area based on the number of people who reported any self employment income. New Bedford depicts it has a Self Employed of 5.1% which is the second smallest when ranked by percentage of people self employed of all the other places in the local area. The city with the highest percentage of people self employed in the area is Mattapoisett Center CDP which depicts a percentage self employed of 39.5% ( very much bigger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years the second smallest as measured by median income for those under 25 years of age of all the other places in the local area at $54,033 of the total. Second, it has the second smallest when ranked by median income for those under 25 years of age of all the other places in the greater region when sorted by median income-25 to 44 years at $60,876 of the total. Third, it has in the mid range of other places in the metro area as measured by median income-45 to 64 years at $29,938 of the total.

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 15.5% which is the second smallest in order of households with retirement income of all the other places in the metro area. The city with the highest households with retirement income in the area is Mattapoisett Center CDP which shows a households with retirement income of 43.5% (approximately 2.8 times bigger).

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 less than most other places in the surrounding region at $73,043 of the total. Second, it has the largest proportion of white family income at $60,720 of the total and is ranked #1. Third, it has the largest proportion of american indian family income at $91,311 of the total and is ranked #1. Also, it has the largest proportion of hawaiian family income at $38,141 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. New Bedford depicts it has the hightest cost of 129.0 for the cost of utilities category.

New Bedford Massachusetts 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 January 2010 to before the disasterous COVID-19 Pandemic the monthly unemployment rate went from 16.3% to 6.3% in March 2020. This represents a decrease in the monthly unemployment rate of 61.3%. Since that time, the monthly unemployment rate has gone to 6.9% This represents an increase in the monthly unemployment rate of 9.5%. 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 46,697 to 47,665 in March 2020. This represents an increase in the monthly labor force participation of 2.1%. Since that time, the monthly labor force participation has gone to 47,297 This represents a decrease 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 New Bedford shows it has a Unemployment Rate of 4.6% which is the second most of all the places in the area. The city with the highest unemployment rate in the area is Fall River which depicts a rate of 4.7% ( only slightly larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. New Bedford shows it has a Labor Force Participation of 62.7% which is the second most participation rates of all the places in the greater New Bedford region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. New Bedford depicts full time employees approximately 2.6 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 New Bedford area. New Bedford shows it has a Single Earner Families of 26.1% which is in the mid range of other places in the greater region. The city with the highest families with a single earner in the area is Bliss Corner CDP which shows a single earners rate of 30.0% (14.9% larger). The percentage of families with no one working is depicted in Figure 22. New Bedford depicts it has a Families with No One Working of 18.2% which is less than most other places in the greater region. The city with the highest families with no one working in the area is Acushnet Center CDP which shows a families with no worker of 26.9% (48.0% larger).

New Bedford Massachusetts Poverty Charts

The next section details economy analysis about poverty for residents of the New Bedford 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. New Bedford shows it has a Total In Poverty of 17,416 which is ranked #1 of all places in the greater New Bedford region.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. New Bedford depicts it has a Percent of Population In Poverty of 18.6% which is the most of all places in the greater New Bedford region.

In Figure 25 people who are in poverty are broken out by age group. New Bedford has the percentage of person in poverty 55 to 64 years the second smallest when sorted by person in poverty under 12 years of all the other places in the area at 12% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. New Bedford has the largest proportion of black poverty rate at 58% of the total and is ranked #1. Second, it has the largest proportion of asian poverty rate at 100% of the total and is ranked #1. Third, it has one of the largest proportions of hawaiian poverty rate at 33% of the total and is ranked #2. The only larger city being Fall River with 35%.

Figure 27 shows key poverty statistics for groups based on marriage status. New Bedford has one of the largest proportions of married with children and in poverty at 36% of the total and is ranked #2. The only larger city being Fall River with 41%. Second, it has one of the largest proportions of unmarried with children and in poverty at 39% of the total and is ranked #3. Only #2 Acushnet Center CDP (45%), and #1 Fall River (46%) are larger. Third, it has the largest proportion of unmarried female with children and in poverty at 27% 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. New Bedford has one of the largest proportions of less than highschool in poverty at 15% of the total and is ranked #2. The only larger city being Fall River with 16%. 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.) New Bedford shows it has a Public Assistance Percent of 26.6% which is the second most households with public assistance of all the places in the greater New Bedford region. The city with the highest households with public assistance in the area is Fall River which shows a households with public assistance of 28.4% (6.8% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). New Bedford depicts it has a Gini Index of 45.5% which is in the center range of other places in the local area.

New Bedford 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 New Bedford 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.) New Bedford has the largest proportion of people who drive a car or motorcycle to work at 3% of the total and is ranked #1. Second, it has the largest proportion of people who take public transportation to work at 5% 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 New Bedford or elsewhere.) New Bedford has the smallest proportion of people who drove alone at 74% of the total. Second, it has the largest proportion of people who carpooled at 14% of the total and is ranked #1. Third, it has the largest proportion of people who take the bus at 2% of the total and is ranked #1. Also, it has the largest proportion of people who take a Subway or elevated rail at 0% of the total and is ranked #1. In addition, it has the largest proportion of people who bike at 0% of the total and is ranked #1. Furthermore, it has the largest proportion of people who walked at 5% of the total and is ranked #1. Next it has the largest proportion of people who took a taxicab, motorcycle or other at 1% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. New Bedford has the smallest proportion of people who leave for work between 8am to 830am at 4% of the total. Second, it has the largest proportion of people who leave for work between 11am to 12noon at 11% of the total and is ranked #1.

The average commute time is shown in Figure 37. New Bedford depicts it has a Avg Commute Time of 26 which is in the middle range of other places in the area. Figure 38 shows the difference between male versus female commuting time. New Bedford depicts average commute time in minutes for men 47.5% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and New Bedford has one of the largest proportions of no vehicle available at 30% of the total and is ranked #2. The only larger city being Fall River with 33%. Second, it has the smallest proportion of 2 vehicles available at 15% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) New Bedford shows it has a Work in city or place where live of 39% which is the second most of all the places in the greater region. The city with the highest people who both work and live in the same city in the area is Fall River which depicts a people who both work and live in the same city of 44% (12.0% larger). Comparing people who both work and live in the same city to the United States average of 43%, New Bedford is about 8.4% smaller. Also, compared to the state of Massachusetts, people who both work and live in the same city of 36%, New Bedford is 8.8% larger.

New Bedford Massachusetts 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. New Bedford shows it has the hightest median earnings of $92,051 for the earnings-healthcare practitioners and tech occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and New Bedford depicts it has the hightest median earnings of $64,358 for the earnings-computer, engineering, and science occupations group. The table in Figure 48, shows New Bedford employment data in terms of job categories and salary data.

New Bedford Massachusetts 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. New Bedford shows it has the hightest entrepreneurs of 31% for the self employed management, business, science, and arts businesses aggregate.

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. New Bedford depicts it has the hightest entrepreneurs of 21% for the self employed in construction category.

In Figure 51 the average annual self employment/entrepreneur income is shown. New Bedford depicts it has a Self Employment Income of $28,694 which is the second smallest when sorted by average annual self employment income of all the other places in the area. The city with the highest average annual self employment income in the area is North Westport CDP which depicts an average annual self employment income of $57,110 (about twice as large). Comparing average annual self employment income to the United States average of $40,101, New Bedford is approximately three-fourths the size. Also, versus the state of Massachusetts, average annual self employment income of $47,740, New Bedford is approximately three-fourths the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) New Bedford depicts total number of self-employed men 34.3% larger as the total number of self-employed women.