Lake Isabella Michigan Income Charts

This section shows the Lake Isabella Michigan economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Isabella depicts it has a median earnings per worker of $48,700 which is more than all other places in the local area. Comparing median earnings per worker to the United States average of $47,712, Lake Isabella is only slightly larger. Also, measured against the state of Michigan, median earnings per worker of $47,411, Lake Isabella is only about 2.7% 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 $78,125 which is more than all other places in the greater Lake Isabella region. Comparing median household income to the United States average of $60,293, Lake Isabella is 29.6% larger. Also, measured against the state of Michigan, median household income of $54,938, Lake Isabella is 42.2% 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 smallest proportion of earnings less than $10,000 at 10.7% of the total. Second, it has the largest proportion of earnings between $50,000 and $74,999 at 28.2% of the total and is ranked #1. Third, it has the largest proportion of earnings of $100,000 more at 6.7% 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 an average hours of 39.8 which is the second most average hours of all the places in the greater Lake Isabella region. The city with the highest average hours in the area is Rosebush which shows an average hours of 41.2 (only about 3.5% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has an average hourly earnings of $23.53 which is the most of all places in the greater Lake Isabella region. Comparing average hourly earnings to the United States average of $23.71, Lake Isabella is about the same size. Also, compared with the state of Michigan, average hourly earnings of $23.87, Lake Isabella is about the same size.

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 shows it has a percentage of people self employed of 13.8% which is the second most people self employed of all the places in the greater Lake Isabella region. The city with the highest percentage of people self employed in the area is Mecosta which depicts a percentage self employed of 13.8% ( about the same size).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-25 to 44 years at $81,023 of the total and is ranked #1. Second, it has the largest proportion of median income-45 to 64 years at $78,125 of the total and is ranked #1. Third, it has the largest proportion of median income-65 years and over at $59,808 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 households with retirement income of 25.0% which is the third most households with retirement income of all other places in the greater Lake Isabella region. The city with the highest households with retirement income in the area is Weidman CDP which shows a households with retirement income of 32.7% (30.9% 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 $83,478 of the total and is ranked #1. Second, it has the largest proportion of white family income at $83,913 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 depicts that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly unemployment rate went from 10.9% to 3.5% in December 2019. This represents a decrease in the monthly unemployment rate of 67.9%. Since that time, the monthly unemployment rate has gone to 3.5% 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. It shows that from January 2010 to before the disasterous Coronavirus Pandemic the monthly labor force participation went from 12,994 to 12,475 in November 2019. This represents a decrease in the monthly labor force participation of 4.0%. Since that time, the monthly labor force participation has gone to 12,475 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 shows it has an unemployment rate of 3.1% which is less than most other places in the local area. The city with the highest unemployment rate in the area is Beal City CDP which shows a rate of 10.6% (approximately 3.5 times bigger). 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 participation rate of 58.4% which is the third most of all other places in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Isabella shows full time employees approximately 4.0 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 shows it has a families with a single earner of 24.3% 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 depicts a single earners rate of 44.4% (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 21.7% which is the second most of all the places in the metropolitan area. The city with the highest families with no one working in the area is Weidman CDP which depicts a families with no worker of 37.3% (71.8% 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 people earning less than the poverty level of 171 which is the second most total people earning less than the poverty level of all the places in the greater Lake Isabella 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 6,768 ( 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 depicts it has a percent of people earning less than the poverty level of 8.1% which is the second smallest as measured by percent of people earning less than the poverty level of all the other places in the area. 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 35.0% (approximately 4.3 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Lake Isabella has the percentage of person in poverty under 12 years the second smallest as measured by person in poverty under 12 years of all the other places in the greater region at 2% of the total. Second, it has less than most other places in the greater region in order of person in poverty 18 to 34 years at 25% of the total. Third, it has the largest proportion of person in poverty 35 to 54 years at 37% of the total and is ranked #1. Also, it has the largest proportion of person in poverty 65+ years at 17% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake Isabella has the percentage of white poverty rate the second smallest in terms of white poverty rate of all the other places in the greater region at 8% of the total. Second, it has the largest proportion of american indian poverty rate at 31% of the total and is ranked #1. Third, it has less than most other places in the local area as measured by hispanicp poverty rate at 21% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake Isabella has the percentage of unmarried with children and in poverty the second smallest in terms of married with children and in poverty of all the other places in the local area at 28% of the total. Second, it has less than most other places in the metro area when ranked by unmarried female with children and in poverty at 28% of the total.

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 percentage of less than highschool in poverty the second smallest when ranked by less than highschool in poverty of all the other places in the area at 23% of the total. Second, it has the largest proportion of highschool graduate and in poverty at 23% of the total and is ranked #1. Third, it has the smallest proportion of has some college and in poverty at 4% of the total. Also, it has less than most other places in the metro area in order of college graduate and in poverty at 1% 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 Isabella has the percentage of people who are in poverty and employed less than most other places in the area at 7.6% of the total. Second, it has the largest proportion of people who are in poverty and not in labor force at 46.8% 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 Isabella depicts it has a households with public assistance of 6.4% which is the second smallest when ranked by households with public assistance of all the other places in the area. The city with the highest households with public assistance in the area is Barryton which shows a households with public assistance of 29.9% (approximately 4.7 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake Isabella depicts it has a the gini index of 34.4% which is the second smallest when sorted by the gini index of all the other places in the local area.

Lake Isabella Michigan Work Commute Charts

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 one of the largest proportions of people who drove alone at 83% of the total and is ranked #3. Only #2 Weidman CDP (87%), and #1 Barryton (87%) are larger.

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 the second smallest as measured by people with commute time of less than 5 minutes of all the other places in the local area at 1% of the total. Second, it has the smallest proportion of people with commute time between 5 to 9 minutes at 2% of the total. Third, it has less than most other places in the local area when ranked by 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 25 to 29 minutes at 18% of the total and is ranked #1. In addition, it has one of the largest proportions of people with commute time of 90 or more minutesutes at 5% of the total and is ranked #2. The only larger city being Mecosta with 7%.

The average commute time is shown in Figure 37. Lake Isabella shows it has an average commute time of 31 which is the second most average commute time of all the places in the greater Lake Isabella region. Figure 38 shows the difference between male versus female commuting time. Lake Isabella depicts average commute time in minutes for men 38.1% 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 less than most other places in the area at 1% of the total. Second, it has the second smallest in terms of no vehicle available of all the other places in the metropolitan area when sorted by 1 vehicle available at 9% of the total. Third, it has one of the largest proportions of 2 vehicles available at 53% of the total and is ranked #2. The only larger city being Rosebush with 63%. 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 people who both work and live in the same city of 12% which is less than most other places in the local 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 61% ( considerably 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, compared 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 shows it has the hightest median earnings of $147,750 for the earnings-healthcare practitioners and tech occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Isabella shows it has the hightest median earnings of $62,917 for the earnings-healthcare practitioners and tech occupations grouping. 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 depicts it has the hightest entrepreneurs of 38% for the self employed in sales and office related 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. Lake Isabella shows it has the hightest entrepreneurs of 38% for the self employed in manufacturing grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake Isabella shows it has an average annual self employment income of $28,701 which is ranked #1 of all places in the local area. Comparing average annual self employment income to the United States average of $37,819, Lake Isabella is approximately three-fourths the size. Also, in comparison with the state of Michigan, average annual self employment income of $31,109, Lake Isabella is about 8.4% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Isabella depicts total number of self-employed men 18.4% larger as the total number of self-employed women.