Boyne Falls Michigan Income Charts

This section shows the Boyne Falls Michigan economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Boyne Falls shows it has a Median earnings of $35,179 which is less than most other places in the local area. The city with the highest median earnings per worker in the area is Advance CDP which depicts a median earnings of $61,250 (74.1% larger). Comparing median earnings per worker to the United States average of $49,041, Boyne Falls is approximately three-fourths the size. Also, versus the state of Michigan, median earnings per worker of $48,618, Boyne Falls 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 $40,833 which is less than most other places in the metro area. The city with the highest median household income in the area is Advance CDP which depicts a median income of $75,769 (about twice as large). Comparing median household income to the United States average of $62,843, Boyne Falls is approximately three-fourths the size. Also, compared to the state of Michigan, median household income of $57,144, Boyne Falls is approximately three-fourths the size.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 39.7 which is ranked #1 of all places in the greater Boyne Falls region. 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 $17.04 which is the second smallest when sorted by average hourly earnings of all the other places in the metro area. The city with the highest average hourly earnings in the area is Advance CDP which depicts an average hourly earnings of $30.67 (about twice as large). Comparing average hourly earnings to the United States average of $24.31, Boyne Falls is approximately three-fourths the size. Also, measured against the state of Michigan, average hourly earnings of $24.48, Boyne Falls is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Boyne Falls metro area based on the number of people who reported any self employment income. Boyne Falls depicts it has a Self Employed of 7.7% which is less than most other places in the area. The city with the highest percentage of people self employed in the area is Advance CDP which depicts a percentage self employed of 19.9% (approximately 2.6 times 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 when sorted by median income for those under 25 years of age of all the other places in the greater region at $48,125 of the total. Second, it has less than most other places in the greater region as measured by median income-25 to 44 years at $50,750 of the total. Third, it has less than most other places in the local area when sorted by median income-45 to 64 years at $36,250 of the total.

Figure 9 breaks down the source of income and Boyne Falls has the largest proportion of social security at 1.9% 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 20.8% which is less than most other places in the local area. The city with the highest households with retirement income in the area is Advance CDP which shows a households with retirement income of 38.3% (about twice as large).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the smallest proportion of overall family income at $46,250 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. Boyne Falls shows it has the hightest cost of 103.7 for the cost of transportation group.

Boyne Falls Michigan 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 Wuhan Coronavirus/COVID Pandemic the monthly unemployment rate went from 16.8% to 6.0% in February 2020. This represents a decrease in the monthly unemployment rate of 64.3%. Since that time, the monthly unemployment rate has gone to 7.4% This represents an increase in the monthly unemployment rate of 23.3%. 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 indicates that from February 2010 to before the disasterous Coronavirus Pandemic the monthly labor force participation went from 17,816 to 15,469 in February 2020. This represents a decrease in the monthly labor force participation of 13.2%. Since that time, the monthly labor force participation has gone to 14,167 This represents a decrease in the monthly labor force participation of 8.4%.

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 Boyne Falls depicts it has a Unemployment Rate of 3.6% which is the third most unemployment rate of all other places in the greater Boyne Falls region. The city with the highest unemployment rate in the area is Vanderbilt which depicts a rate of 4.2% (18.8% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Boyne Falls depicts it has a Labor Force Participation of 68.8% which is more than all other places in the greater Boyne Falls region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Boyne Falls has the smallest proportion of unemployed at 31.2% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Boyne Falls shows 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 Boyne Falls area. Boyne Falls depicts it has a Single Earner Families of 35.9% which is at the top of all other places in the greater Boyne Falls region. The percentage of families with no one working is depicted in Figure 22. Boyne Falls depicts it has a Families with No One Working of 10.9% which is the smallest when sorted by families with no one working of all the other places in the greater region. The city with the highest families with no one working in the area is Advance CDP which shows a families with no worker of 40.3% (approximately 3.7 times bigger).

Boyne Falls Michigan Poverty Charts

The next section details economy analysis about poverty for residents of the Boyne Falls 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. Boyne Falls depicts it has a Total In Poverty of 66 which is in the mid range of other places in the greater region. The city with the highest total people earning less than the poverty level in the area is East Jordan which shows a total people earning less than the poverty level of 480 ( 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. Boyne Falls indicates it has a Percent of Population In Poverty of 16.7% which is the third most of all other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Vanderbilt which depicts a percent of people in poverty of 22.6% (35.6% larger).

In Figure 25 people who are in poverty are broken out by age group. Boyne Falls has one of the largest proportions of person in poverty under 12 years at 17% of the total and is ranked #2. The only larger city being Vanderbilt with 18%. Second, it has less than most other places in the local area when sorted by person in poverty 35 to 54 years at 12% of the total. Third, it has in the middle range of other places in the local area when sorted by 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. Boyne Falls has one of the largest proportions of white poverty rate at 56% of the total and is ranked #3. Only #2 Walloon Lake CDP (100%), and #1 Boyne City (100%) are larger.

Figure 27 shows key poverty statistics for groups based on marriage status. Boyne Falls has one of the largest proportions of unmarried female with children and in poverty at 50% of the total and is ranked #2. The only larger city being East Jordan with 64%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Boyne Falls has the largest proportion of less than highschool in poverty at 24% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Boyne Falls has the smallest proportion of people who are in poverty and unemployed at 6.1% 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.) Boyne Falls depicts it has a Public Assistance Percent of 25.0% which is the second most households with public assistance of all the places in the greater Boyne Falls region. The city with the highest households with public assistance in the area is Vanderbilt which shows a households with public assistance of 27.9% (11.5% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Boyne Falls shows it has a Gini Index of 39.6% which is in the mid range of other places in the local area.

Boyne Falls Michigan Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Boyne Falls or elsewhere.) Boyne Falls has the largest proportion of people who took a taxicab, motorcycle or other 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. Boyne Falls has the largest proportion of people who leave for work between 12noon to 4pm at 9% 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. Boyne Falls has one of the largest proportions of people with commute time of less than 5 minutesutes at 14% of the total and is ranked #3. Only #2 Boyne City (18%), and #1 East Jordan (19%) are larger. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 30% of the total and is ranked #2. The only larger city being Vanderbilt with 31%. Third, it has the second smallest in terms of people with commute time of less than 5 minutes of all the other places in the greater region when ranked by people with commute time between 10 to 14 minutes at 12% of the total. Also, it has the smallest proportion of people with commute time between 15 to 19 minutes at 6% of the total. In addition, it has the largest proportion of people with commute time between 25 to 29 minutes at 12% of the total and is ranked #1. Furthermore, it has the largest proportion of people with commute time between 45 to 59 minutes at 4% of the total and is ranked #1.

The average commute time is shown in Figure 37. Boyne Falls depicts it has a Avg Commute Time of 24 which is the second most average commute time of all the places in the greater Boyne Falls region. Figure 38 shows the difference between male versus female commuting time. Boyne Falls shows average commute time in minutes for men about the same size as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Boyne Falls has the percentage of no vehicle available in the mid range of other places in the metro area at 21% of the total. Second, it has less than most other places in the metropolitan area when ranked by 1 vehicle available at 43% of the total. Third, it has less than most other places in the local area when sorted by 3 vehicles available at 2% of the total. Also, it has the largest proportion of 4 vehicles available at 6% 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.) Boyne Falls depicts it has a Work in city or place where live of 16% which is the third most people who both work and live in the same city of all other places in the greater Boyne Falls region. The city with the highest people who both work and live in the same city in the area is Boyne City which depicts a people who both work and live in the same city of 41% (approximately 2.6 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Boyne Falls is approximately a third the size. Also, in contrast to the state of Michigan, people who both work and live in the same city of 30%, Boyne Falls is approximately half the size.

Boyne Falls Michigan 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. Boyne Falls depicts it has the hightest median earnings of $80,625 for the earnings-computer, engineering, and science occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Boyne Falls shows it has the hightest median earnings of $36,250 for the earnings-education, legal, community service, arts, media occupations grouping. The table in Figure 48, shows Boyne Falls employment data in terms of job categories and salary data.

Boyne Falls Michigan 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. Boyne Falls shows it has the hightest entrepreneurs of 56% 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. Boyne Falls depicts it has the hightest entrepreneurs of 44% for the self employed in finance, insurance, real estate, rental and leasing group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Boyne Falls depicts it has a Self Employment Income of $13,069 which is less than most other places in the area. The city with the highest average annual self employment income in the area is Boyne City which depicts an average annual self employment income of $29,215 (approximately 2.2 times bigger). Comparing average annual self employment income to the United States average of $39,154, Boyne Falls is approximately a third the size. Also, compared to the state of Michigan, average annual self employment income of $32,754, Boyne Falls is approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Boyne Falls depicts total number of self-employed men approximately three-fourths the size as the total number of self-employed women.