Lake Isabella Michigan Income Charts

This section shows the Lake Isabella Michigan economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Isabella depicts it has a Median earnings of $51,042 which is more than all other places in the local area. Comparing median earnings per worker to the United States average of $49,041, Lake Isabella is only about 4.1% larger. Also, compared to the state of Michigan, median earnings per worker of $48,618, Lake Isabella is only about 5.0% larger.

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 $75,625 which is at the top of all other places in the greater Lake Isabella region. Comparing median household income to the United States average of $62,843, Lake Isabella is 20.3% larger. Also, compared to the state of Michigan, median household income of $57,144, Lake Isabella is 32.3% larger.

The next section examines a variety of different income statistics for the Lake Isabella metropolitan area. In Figure 3 we see that it has the percentage of earnings between $15,000 and $19,999 the second smallest when ranked by median earnings of less than $10,000 of all the other places in the area at 23.8% of the total. Second, it has the largest proportion of earnings between $20,000 and $49,999 at 27.8% of the total and is ranked #1. Third, it has the largest proportion of earnings between $75,000 and $99,999 at 6.8% 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 39.3 which is the second most of all the places in the surrounding region. The city with the highest average hours in the area is Rosebush which depicts an average hours of 42.2 (7.4% 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 $24.98 which is the most of all places in the greater region. Comparing average hourly earnings to the United States average of $24.31, Lake Isabella is only about 2.8% larger. Also, in contrast to the state of Michigan, average hourly earnings of $24.48, Lake Isabella is only slightly larger.

Figure 7 examines the number of self employed people in the Lake Isabella metro area based on the number of people who reported any self employment income. Lake Isabella depicts it has a Self Employed of 13.5% which is at the top of all other places in the greater Lake Isabella region.

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 $82,875 of the total and is ranked #1. Second, it has one of the largest proportions of median income-25 to 44 years at $78,125 of the total and is ranked #2. The only larger city being Beal City CDP with $122,750. Third, it has the largest proportion of median income-45 to 64 years at $65,417 of the total and is ranked #1.

Figure 9 breaks down the source of income and Lake Isabella has the largest proportion of income from wages at 4.6% 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 24.6% which is less than most other places in the greater region. The city with the highest households with retirement income in the area is Weidman CDP which shows a households with retirement income of 38.7% (57.2% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $83,266 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. Lake Isabella shows it has the hightest cost of 103.7 for the cost of transportation category.

Lake Isabella 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 virus Pandemic the monthly unemployment rate went from 10.9% to 3.6% in February 2020. This represents a decrease in the monthly unemployment rate of 67.0%. Since that time, the monthly unemployment rate has gone to 3.7% This represents an increase in the monthly unemployment rate of 2.8%. 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 February 2010 to before the Wuhan virus Pandemic the monthly labor force participation went from 13,049 to 12,615 in February 2020. This represents a decrease in the monthly labor force participation of 3.3%. Since that time, the monthly labor force participation has gone to 12,772 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 Isabella depicts it has a Unemployment Rate of 3.4% which is in the mid point range of other places in the greater region. The city with the highest unemployment rate in the area is Mount Pleasant which depicts a rate of 5.2% (53.0% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Isabella depicts it has a Labor Force Participation of 56.5% which is the third most of all other places in the surrounding region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Isabella depicts full time employees approximately 3.2 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 Lake Isabella area. Lake Isabella depicts it has a Single Earner Families of 26.7% which is less than most other places in the local area. The city with the highest families with a single earner in the area is Barryton which shows a single earners rate of 49.0% (about twice as large). The percentage of families with no one working is depicted in Figure 22. Lake Isabella depicts it has a Families with No One Working of 24.2% which is the third most families with no one working of all other places in the greater Lake Isabella region. The city with the highest families with no one working in the area is Rosebush which shows a families with no worker of 33.3% (37.5% larger).

Lake Isabella Michigan Poverty Charts

The next section details economy analysis about poverty for residents of the Lake Isabella 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 Isabella depicts it has a Total In Poverty of 206 which is the second most of all the places in the greater region. The city with the highest total people earning less than the poverty level in the area is Mount Pleasant which shows a total people earning less than the poverty level of 6,691 ( 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. Lake Isabella shows it has a Percent of Population In Poverty of 10.0% which is the second smallest as measured by percent of people earning less than the poverty level of all the other places in the greater region. The city with the highest percent of people earning less than the poverty level in the area is Mount Pleasant which shows a percent of people in poverty of 34.6% (approximately 3.5 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Lake Isabella has one of the largest proportions of person in poverty 18 to 34 years at 23% of the total and is ranked #3. Only #2 Rosebush (28%), and #1 Mecosta (29%) are larger.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake Isabella has the largest proportion of black poverty rate at 29% of the total and is ranked #1. Second, it has the second smallest as measured by white poverty rate of all the other places in the metro area in terms of hawaiian poverty rate at 14% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake Isabella has the percentage of married with children and in poverty the second smallest in terms of married with children and in poverty of all the other places in the greater region at 32% of the total. Second, it has less than most other places in the local area in terms of unmarried with children and in poverty at 24% of the total. Third, it has one of the largest proportions of unmarried female with children and in poverty at 56% of the total and is ranked #3. Only #2 Mecosta (75%), and #1 Rosebush (100%) are larger.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Lake Isabella has the largest proportion of less than highschool in poverty at 27% of the total and is ranked #1. Second, it has the smallest proportion of highschool graduate and in poverty at 3% 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.) Lake Isabella shows it has a Public Assistance Percent of 8.4% which is the second smallest when sorted by households with public assistance of all the other places in the metro area. The city with the highest households with public assistance in the area is Barryton which indicates a households with public assistance of 33.5% (approximately 4.0 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake Isabella shows it has a Gini Index of 34.6% which is the second smallest as measured by the gini index of all the other places in the greater region.

Lake Isabella 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 Lake Isabella 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.) Lake Isabella has the largest proportion of people who bicycle or walk to work at 9% 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 Lake Isabella or elsewhere.) Lake Isabella has the largest proportion of people who work from home 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. Lake Isabella has the percentage of people with commute time of less than 5 minutesutes in the mid range of other places in the metro area at 5% of the total. Second, it has in the middle range of other places in the metropolitan area when sorted by people with commute time between 5 to 9 minutes at 8% of the total. Third, it has in the mid range of other places in the surrounding region in terms of people with commute time between 10 to 14 minutes at 7% of the total. Also, it has the largest proportion of people with commute time between 20 to 24 minutes at 14% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 60 to 89 minutes at 6% of the total and is ranked #1.

The average commute time is shown in Figure 37. Lake Isabella shows it has a Avg Commute Time of 32 which is ranked #1 of all places in the local area. Figure 38 shows the difference between male versus female commuting time. Lake Isabella depicts average commute time in minutes for men 41.3% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake Isabella has the percentage of no vehicle available the second smallest as measured by no vehicle available of all the other places in the area at 12% of the total. Second, it has one of the largest proportions of 1 vehicle available at 52% of the total and is ranked #3. Only #2 Weidman CDP (52%), and #1 Rosebush (60%) are larger. Third, it has one of the largest proportions of 3 vehicles available at 15% of the total and is ranked #2. The only larger city being Weidman CDP with 22%. Also, it has one of the largest proportions of 4 vehicles available at 2% of the total and is ranked #3. Only #2 Barryton (3%), and #1 Beal City CDP (16%) are larger. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake Isabella depicts it has a Work in city or place where live of 13% 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 Mount Pleasant which depicts a people who both work and live in the same city of 60% (approximately 4.6 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Lake Isabella is approximately a third the size. Also, in comparison with the state of Michigan, people who both work and live in the same city of 30%, Lake Isabella is approximately half the size.

Lake Isabella 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 Isabella depicts it has the hightest median earnings of $150,750 for the earnings-healthcare practitioners and tech occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Isabella shows it has the hightest median earnings of $62,500 for the management, business, and financial occupations aggregate. The table in Figure 48, shows Lake Isabella employment data in terms of job categories and salary data.

Lake Isabella 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. Lake Isabella shows it has the hightest entrepreneurs of 42% for the self employed management, business, science, and arts businesses grouping.

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. Lake Isabella shows it has the hightest entrepreneurs of 16% for the self employed in transportation, warehousing, and utilities aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake Isabella indicates it has a Self Employment Income of $27,395 which is the third most average annual self employment income of all other places in the greater Lake Isabella region. The city with the highest average annual self employment income in the area is Barryton which depicts an average annual self employment income of $33,060 (20.7% larger). Comparing average annual self employment income to the United States average of $39,154, Lake Isabella is approximately three-fourths the size. Also, versus the state of Michigan, average annual self employment income of $32,754, Lake Isabella is about 19.6% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Isabella shows total number of self-employed men about twice as large as the total number of self-employed women.