Lake Ann Michigan Income Charts

This section shows the Lake Ann Michigan economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Ann depicts it has a Median earnings of $42,604 which is in the mid point range of other places in the area. The city with the highest median earnings per worker in the area is Bendon CDP which depicts a median earnings of $59,412 (39.5% larger). Comparing median earnings per worker to the United States average of $53,269, Lake Ann is approximately three-fourths the size. Also, compared with the state of Michigan, median earnings per worker of $52,738, Lake Ann is about 23.8% 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 $59,375 which is the second smallest when ranked by median household income of all the other places in the local area. The city with the highest median household income in the area is Hardwood Acres CDP which depicts a median income of $98,079 (65.2% larger). Comparing median household income to the United States average of $69,021, Lake Ann is about 16.2% smaller. Also, benchmarked against the state of Michigan, median household income of $63,202, Lake Ann is about 6.4% smaller.

The next section examines a variety of different income statistics for the Lake Ann metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $10,000 and $14,999 at 17.1% of the total and is ranked #1. Second, it has the largest proportion of earnings between $75,000 and $99,999 at 8.5% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.8 which is less than most other places in the local area. The city with the highest average hours in the area is Hardwood Acres CDP which shows an average hours of 46.4 (19.6% 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 $21.12 which is the third most average hourly earnings of all other places in the greater Lake Ann region. The city with the highest average hourly earnings in the area is Bendon CDP which depicts an average hourly earnings of $25.68 (21.6% larger). Comparing average hourly earnings to the United States average of $26.40, Lake Ann is approximately three-fourths the size. Also, measured against the state of Michigan, average hourly earnings of $26.48, Lake Ann is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Lake Ann metro area based on the number of people who reported any self employment income. Lake Ann depicts it has a Self Employed of 4.3% which is less than most other places in the area. The city with the highest percentage of people self employed in the area is Cedar CDP which depicts a percentage self employed of 40.0% ( very much bigger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $130,000 of the total and is ranked #1. Second, it has one of the largest proportions of median income-25 to 44 years at $54,375 of the total and is ranked #3. Only #2 Maple City CDP ($92,000), and #1 Hardwood Acres CDP ($113,606) are larger. Third, it has the largest proportion of median income-45 to 64 years at $39,167 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 35.5% which is the third most households with retirement income of all other places in the greater Lake Ann region. The city with the highest households with retirement income in the area is Maple Grove CDP which depicts a households with retirement income of 69.0% (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 percentage of overall family income in the mid point range of other places in the greater region at $83,125 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. Lake Ann depicts it has the hightest cost of 118.6 for the cost of utilities grouping.

Lake Ann Michigan Labor Force Charts

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 8.7% to 5.4% in December 2019. This represents a decrease in the monthly unemployment rate of 37.9%. Since that time, the monthly unemployment rate has gone to 5.4%. This represents an increase in the monthly unemployment rate of very little. 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. The monthly labor force participation indicates that from January 2017 to before the COVID-19 Pandemic it went from 15,979 to 15,392 in November 2019. This represents a decrease in the monthly labor force participation of 3.7%. Since that time, the monthly labor force participation has gone to 15,392. This represents an increase 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 Lake Ann depicts it has a Unemployment Rate of 0.5% which is the third most unemployment rate of all other places in the greater Lake Ann region. The city with the highest unemployment rate in the area is Cedar CDP which shows a rate of 11.3% ( markedly bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Ann shows it has a Labor Force Participation of 65.6% which is the third most participation rates of all other places in the greater Lake Ann region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Ann depicts full time employees very much 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 Lake Ann area. Lake Ann depicts it has a Single Earner Families of 32.1% which is the third most of all other places in the surrounding region. The city with the highest families with a single earner in the area is Cedar CDP which shows a single earners rate of 100.0% (approximately 3.1 times bigger). The percentage of families with no one working is depicted in Figure 22. Lake Ann shows it has a Families with No One Working of 14.3% which is the third most families with no one working of all other places in the greater Lake Ann region. The city with the highest families with no one working in the area is Interlochen CDP which depicts a families with no worker of 40.0% (approximately 2.8 times bigger).

Lake Ann Michigan Poverty Charts

The next section details economy analysis about poverty for residents of the Lake Ann 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. Lake Ann shows it has a Total In Poverty of 3 which is less than most other places in the area. The city with the highest total people earning less than the poverty level in the area is Interlochen CDP which depicts a total people earning less than the poverty level of 74 ( appreciably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake Ann shows it has a Percent of Population In Poverty of 1.5% which is less than most other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Interlochen CDP which depicts a percent of people in poverty of 16.4% ( very much bigger).

In Figure 25 people who are in poverty are broken out by age group. Lake Ann has the largest proportion of person in poverty 35 to 54 years 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. Lake Ann has the percentage of less than highschool in poverty in the intermediate range of other places in the metro area at 5% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Lake Ann has the largest proportion of people who are in poverty and unemployed at 66.7% of the total and is ranked #1. 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.) Lake Ann shows it has a Public Assistance Percent of 5.4% which is the second smallest as measured by households with public assistance of all the other places in the local area. The city with the highest households with public assistance in the area is Bendon CDP which depicts a households with public assistance of 34.6% ( very much bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake Ann shows it has a Gini Index of 33.7% which is more than all other places in the greater Lake Ann region.

Lake Ann Michigan Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lake Ann or elsewhere.) Lake Ann has one of the largest proportions of people who drove alone at 87% of the total and is ranked #2. The only larger city being Maple Grove CDP with 100%. Second, it has in the center range of other places in the greater region when sorted by people who work from home at 2% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Lake Ann has the largest proportion of people who leave for work between 730 am to 8am at 16% 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. Lake Ann has the largest proportion of people with commute time of less than 5 minutesutes at 17% of the total and is ranked #1. Second, it has in the mid range of other places in the surrounding region in terms of people with commute time between 5 to 9 minutes at 2% of the total. Third, it has one of the largest proportions of people with commute time between 10 to 14 minutes at 12% of the total and is ranked #2. The only larger city being Cedar CDP with 23%. Also, it has in the mid range of other places in the area in order of people with commute time between 15 to 19 minutes at 17% of the total. In addition, it has the largest proportion of people with commute time between 60 to 89 minutes at 3% of the total and is ranked #1.

The average commute time is shown in Figure 37. Lake Ann shows it has a Avg Commute Time of 26 which is the largest of all places in the greater Lake Ann region. Figure 38 shows the difference between male versus female commuting time. Lake Ann shows average commute time in minutes for men about 13.2% smaller as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake Ann has one of the largest proportions of no vehicle available at 21% of the total and is ranked #3. Only #2 Cedar CDP (27%), and #1 Hardwood Acres CDP (29%) are larger. Second, it has less than most other places in the area in terms of 1 vehicle available at 45% of the total. Third, it has the largest proportion of 2 vehicles available at 27% of the total and is ranked #1. Also, it has one of the largest proportions of 4 vehicles available at 7% of the total and is ranked #2. The only larger city being Hardwood Acres CDP with 22%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake Ann depicts it has a Work in city or place where live of 24% which is the second most people who both work and live in the same city of all the places in the greater Lake Ann region. The city with the highest people who both work and live in the same city in the area is Cedar CDP which depicts a people who both work and live in the same city of 37% (53.5% larger). Comparing people who both work and live in the same city to the United States average of 44%, Lake Ann is approximately half the size. Also, benchmarked against the state of Michigan, people who both work and live in the same city of 33%, Lake Ann is approximately three-fourths the size.

Lake Ann 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. Lake Ann indicates it has the hightest median earnings of $78,750 for the earnings-sales and office occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Ann depicts it has the hightest median earnings of $17,105 for the earnings-sales and office occupations grouping. The table in Figure 48, shows Lake Ann employment data in terms of job categories and salary data.

Lake Ann Michigan Self Employment Charts

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Ann shows total number of self-employed men approximately half the size as the total number of self-employed women.