Central Lake Michigan Income Charts

This section shows the Central Lake Michigan economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Central Lake shows it has a Median earnings of $40,987 which is the third most median earnings of all other places in the greater Central Lake region. The city with the highest median earnings per worker in the area is Alden CDP which depicts a median earnings of $50,833 (24.0% larger). Comparing median earnings per worker to the United States average of $49,041, Central Lake is about 19.7% smaller. Also, in contrast to the state of Michigan, median earnings per worker of $48,618, Central Lake is about 18.6% 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 $44,231 which is less than most other places in the local area. The city with the highest median household income in the area is Eastport CDP which depicts a median income of $81,563 (about twice as large). Comparing median household income to the United States average of $62,843, Central Lake is approximately three-fourths the size. Also, benchmarked against the state of Michigan, median household income of $57,144, Central Lake is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Central Lake metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 11.6% of the total and is ranked #2. The only larger city being Ellsworth with 17.7%. Second, it has the smallest proportion of earnings between $15,000 and $19,999 at 30.9% of the total. Third, it has the largest proportion of earnings between $20,000 and $49,999 at 22.4% of the total and is ranked #1. Also, it has the smallest proportion of earnings between $50,000 and $74,999 at 0.8% 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 36.6 which is the smallest when ranked by average hours of all the other places in the metro area. The city with the highest average hours in the area is Eastport CDP which shows an average hours of 41.3 (12.8% 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 $21.54 which is the second most average hourly earnings of all the places in the greater Central Lake region. The city with the highest average hourly earnings in the area is Alden CDP which depicts an average hourly earnings of $24.56 (14.1% larger). Comparing average hourly earnings to the United States average of $24.31, Central Lake is about 12.9% smaller. Also, compared to the state of Michigan, average hourly earnings of $24.48, Central Lake is about 13.6% smaller.

Figure 7 examines the number of self employed people in the Central Lake metro area based on the number of people who reported any self employment income. Central Lake depicts it has a Self Employed of 10.2% which is in the mid range of other places in the metro area. The city with the highest percentage of people self employed in the area is Alden CDP which shows a percentage self employed of 19.0% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the mid range of other places in the metro area at $48,523 of the total. Second, it has one of the largest proportions of median income-25 to 44 years at $44,423 of the total and is ranked #2. The only larger city being Ellsworth with $48,036. Third, it has less than most other places in the local area when ranked by median income-45 to 64 years at $37,417 of the total.

Figure 9 breaks down the source of income and Central Lake has one of the largest proportions of self employment income at 34.5% of the total and is ranked #2. The only larger city being Alden CDP with 40.5%.

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 25.2% which is the third most households with retirement income of all other places in the greater Central Lake region. The city with the highest households with retirement income in the area is Alden CDP which shows a households with retirement income of 44.8% (77.6% larger).

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 the second smallest as measured by overall family income of all the other places in the local area at $53,750 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. Central Lake shows it has the hightest cost of 118.6 for the cost of utilities aggregate.

Central Lake 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 disasterous 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 shows that from February 2010 to before the Wuhan 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 Central Lake depicts it has a Unemployment Rate of 3.7% which is in the mid range of other places in the greater region. The city with the highest unemployment rate in the area is Norwood CDP which depicts a rate of 5.8% (57.7% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Central Lake depicts it has a Labor Force Participation of 59.0% which is in the center range of other places in the area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Central Lake depicts full time employees approximately 2.7 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 Central Lake area. Central Lake depicts it has a Single Earner Families of 27.4% which is the third most families with a single earner of all other places in the greater Central Lake region. The city with the highest families with a single earner in the area is Alden CDP which depicts a single earners rate of 82.9% (approximately 3.0 times bigger). The percentage of families with no one working is depicted in Figure 22. Central Lake depicts it has a Families with No One Working of 18.9% which is less than most other places in the surrounding region. The city with the highest families with no one working in the area is Eastport CDP which depicts a families with no worker of 35.3% (about twice as large).

Central Lake Michigan Poverty Charts

The next section details economy analysis about poverty for residents of the Central Lake 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. Central Lake depicts it has a Total In Poverty of 121 which is the second most total people earning less than the poverty level of all the places in the greater Central Lake 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 (approximately 4.0 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Central Lake shows it has a Percent of Population In Poverty of 12.7% which is the third most percent of people earning less than the poverty level of all other places in the greater Central Lake region. The city with the highest percent of people earning less than the poverty level in the area is East Jordan which shows a percent of people in poverty of 21.3% (67.5% larger).

In Figure 25 people who are in poverty are broken out by age group. Central Lake has one of the largest proportions of person in poverty 12 to 17 years at 30% of the total and is ranked #2. The only larger city being Ellsworth with 31%. Second, it has less than most other places in the greater region as measured by person in poverty 18 to 34 years at 13% of the total. Third, it has the largest proportion of person in poverty 35 to 54 years at 21% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Central Lake has the largest proportion of white poverty rate at 100% of the total and is ranked #1. Second, it has the largest proportion of hawaiian poverty rate at 100% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Central Lake has one of the largest proportions of married with children and in poverty at 59% of the total and is ranked #2. The only larger city being Eastport CDP with 100%. Second, it has one of the largest proportions of unmarried with children and in poverty at 57% of the total and is ranked #2. The only larger city being Ellsworth with 67%. Third, it has the largest proportion of unmarried female with children and in poverty at 100% 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. Central Lake has one of the largest proportions of less than highschool in poverty at 14% of the total and is ranked #3. Only #2 Bellaire (15%), and #1 East Jordan (20%) are larger. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Central Lake has one of the largest proportions of people who are in poverty and employed at 9.9% of the total and is ranked #3. Only #2 Eastport CDP (24.4%), and #1 Norwood CDP (100.0%) are larger. 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.) Central Lake shows it has a Public Assistance Percent of 18.8% which is the second most of all the places in the greater region. The city with the highest households with public assistance in the area is Bellaire which depicts a households with public assistance of 24.0% (27.6% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Central Lake shows it has a Gini Index of 53.1% which is the largest of all places in the greater Central Lake region.

Central Lake Michigan 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 Central Lake 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.) Central Lake has the largest proportion of people who drive a car or motorcycle to work at 0% 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 Central Lake or elsewhere.) Central Lake has the largest proportion of people who take the bus at 0% of the total and is ranked #1. Second, it has the second smallest as measured by people who drove alone of all the other places in the local area when sorted by people who walked at 0% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Central Lake has one of the largest proportions of people who leave for work between 12am to 5am at 5% of the total and is ranked #2. The only larger city being Bellaire with 8%. Second, it has the largest proportion of people who leave for work between 7am to 730am at 16% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 10am to 11am at 2% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 11am to 12noon at 13% 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. Central Lake has the percentage of people with commute time of less than 5 minutesutes in the center range of other places in the surrounding region at 13% of the total. Second, it has the largest proportion of people with commute time between 5 to 9 minutes at 20% of the total and is ranked #1.

The average commute time is shown in Figure 37. Central Lake depicts it has a Avg Commute Time of 19 which is the third most of all other places in the local area. Figure 38 shows the difference between male versus female commuting time. Central Lake shows average commute time in minutes for men 41.6% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Central Lake has one of the largest proportions of no vehicle available at 19% of the total and is ranked #3. Only #2 Bellaire (23%), and #1 East Jordan (24%) are larger. Second, it has one of the largest proportions of 1 vehicle available at 55% of the total and is ranked #3. Only #2 Alden CDP (60%), and #1 Eastport CDP (80%) are larger. Third, it has the smallest proportion of 2 vehicles available at 15% of the total. Also, it has the largest proportion of 3 vehicles available at 11% 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.) Central Lake shows it has a Work in city or place where live of 25% which is less than most other places in the metro area. The city with the highest people who both work and live in the same city in the area is Bellaire which shows a people who both work and live in the same city of 43% (74.2% larger). Comparing people who both work and live in the same city to the United States average of 42%, Central Lake is approximately three-fourths the size. Also, versus the state of Michigan, people who both work and live in the same city of 30%, Central Lake is about 20.0% smaller.

Central Lake 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. Central Lake shows it has the hightest median earnings of $46,667 for the earnings-sales and office occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Central Lake shows it has the hightest median earnings of $46,750 for the earnings-healthcare practitioners and tech occupations group. The table in Figure 48, shows Central Lake employment data in terms of job categories and salary data.

Central Lake 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. Central Lake shows it has the hightest entrepreneurs of 100% for the self employed management, business, science, and arts businesses group.

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. Central Lake depicts it has the hightest entrepreneurs of 100% for the self employed in construction classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Central Lake shows it has a Self Employment Income of $20,553 which is in the intermediate range of other places in the local area. The city with the highest average annual self employment income in the area is Ellsworth which shows an average annual self employment income of $41,056 (about twice as large). Comparing average annual self employment income to the United States average of $39,154, Central Lake is approximately half the size. Also, in comparison with the state of Michigan, average annual self employment income of $32,754, Central Lake 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.) Central Lake shows total number of self-employed men about twice as large as the total number of self-employed women.