Walloon Lake CDP Michigan Income Charts

This section shows the Walloon Lake CDP Michigan economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Walloon Lake CDP depicts it has a Median earnings of $52,778 which is in the middle range of other places in the local area. The place with the highest median earnings per worker in the area is Advance CDP which depicts a median earnings of $78,125 (48.0% larger). Comparing median earnings per worker to the United States average of $50,459, Walloon Lake CDP is only about 4.6% larger. Also, benchmarked against the state of Michigan, median earnings per worker of $50,100, Walloon Lake CDP is only about 5.3% 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 $70,391 which is the second most of all the places in the greater region. The place with the highest median household income in the area is Advance CDP which depicts a median income of $97,500 (38.5% larger). Comparing median household income to the United States average of $64,994, Walloon Lake CDP is 8.3% larger. Also, versus the state of Michigan, median household income of $59,234, Walloon Lake CDP is 18.8% larger.

The next section examines a variety of different income statistics for the Walloon Lake CDP metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 the second smallest in order of median earnings of less than $10,000 of all the other places in the metro area at 1.5% of the total. Second, it has one of the largest proportions of earnings between $10,000 and $14,999 at 10.4% of the total and is ranked #2. The only larger place being Bay View CDP with 11.5%. Third, it has one of the largest proportions of earnings between $15,000 and $19,999 at 45.9% of the total and is ranked #2. The only larger place being Boyne Falls with 47.6%. Also, it has the largest proportion of earnings between $50,000 and $74,999 at 15.6% 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 35.7 which is the smallest in terms of average hours of all the other places in the surrounding region. The place with the highest average hours in the area is Boyne Falls which depicts an average hours of 39.9 (11.8% 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 $28.43 which is the second most average hourly earnings of all the places in the greater Walloon Lake CDP region. The place with the highest average hourly earnings in the area is Advance CDP which shows an average hourly earnings of $38.42 (35.2% larger). Comparing average hourly earnings to the United States average of $25.01, Walloon Lake CDP is 13.7% larger. Also, measured against the state of Michigan, average hourly earnings of $25.16, Walloon Lake CDP is 13.0% larger.

Figure 7 examines the number of self employed people in the Walloon Lake CDP metro area based on the number of people who reported any self employment income. Walloon Lake CDP indicates it has a Self Employed of 11.8% which is in the mid point range of other places in the surrounding region. The place with the highest percentage of people self employed in the area is Bay View CDP which shows a percentage self employed of 27.6% (approximately 2.3 times 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 $94,306 of the total and is ranked #1. Second, it has less than most other places in the greater region as measured by median income-25 to 44 years at $56,528 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $71,172 of the total and is ranked #2. The only larger place being Advance CDP with $75,417.

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 26.8% which is in the center range of other places in the metro area. The place with the highest households with retirement income in the area is Advance CDP which shows a households with retirement income of 42.7% (59.3% 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 less than most other places in the greater region at $71,719 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. Walloon Lake CDP depicts it has the hightest cost of 118.6 for the cost of utilities group.

Walloon Lake CDP 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 January 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly unemployment rate went from 16.8% to 7.9% in March 2020. This represents a decrease in the monthly unemployment rate of 53.0%. Since that time, the monthly unemployment rate has gone to 6.6% This represents a decrease in the monthly unemployment rate of 16.5%. 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 17,779 to 15,352 in March 2020. This represents a decrease in the monthly labor force participation of 13.7%. Since that time, the monthly labor force participation has gone to 15,002 This represents a decrease in the monthly labor force participation of 2.3%. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Walloon Lake CDP depicts it has a Labor Force Participation of 55.1% which is the second smallest in terms of participation rate of all the other places in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Walloon Lake CDP shows full time employees approximately 3.4 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 Walloon Lake CDP area. Walloon Lake CDP shows it has a Single Earner Families of 17.1% which is the second smallest when sorted by families with a single earner of all the other places in the metro area. The place with the highest families with a single earner in the area is Advance CDP which shows a single earners rate of 44.1% (approximately 2.6 times bigger). The percentage of families with no one working is depicted in Figure 22. Walloon Lake CDP indicates it has a Families with No One Working of 40.8% which is at the top of all other places in the greater Walloon Lake CDP region.

Walloon Lake CDP Michigan Poverty Charts

The next section details economy analysis about poverty for residents of the Walloon Lake CDP 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. Walloon Lake CDP depicts it has a Total In Poverty of 11 which is the second smallest as measured by total people earning less than the poverty level of all the other places in the surrounding region. The place with the highest total people earning less than the poverty level in the area is Petoskey which depicts a total people earning less than the poverty level of 438 ( considerably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Walloon Lake CDP shows it has a Percent of Population In Poverty of 3.5% which is the smallest as measured by percent of people earning less than the poverty level of all the other places in the surrounding region. The place with the highest percent of people earning less than the poverty level in the area is Boyne Falls which depicts a percent of people in poverty of 16.4% (approximately 4.6 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Walloon Lake CDP has one of the largest proportions of person in poverty 35 to 54 years at 82% of the total and is ranked #2. The only larger place being Bay View CDP with 100%.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Walloon Lake CDP has the largest proportion of white poverty rate 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. Walloon Lake CDP has one of the largest proportions of highschool graduate and in poverty at 12% of the total and is ranked #2. The only larger place being Petoskey with 13%. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Walloon Lake CDP has one of the largest proportions of people who are in poverty and unemployed at 81.8% of the total and is ranked #2. The only larger place being Bay View CDP with 100.0%.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Walloon Lake CDP shows it has a Gini Index of 36.8% which is the smallest when ranked by the gini index of all the other places in the greater region.

Walloon Lake CDP Michigan Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Walloon Lake CDP or elsewhere.) Walloon Lake CDP has one of the largest proportions of people who drove alone at 86% of the total and is ranked #2. The only larger place being Horton Bay CDP with 88%.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Walloon Lake CDP has the largest proportion of people who leave for work between 7am to 730am at 30% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 12noon to 4pm at 11% 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. Walloon Lake CDP has the percentage of people with commute time of less than 5 minutesutes the second smallest when ranked by people with commute time of less than 5 minutes of all the other places in the metro area at 2% of the total. Second, it has the largest proportion of people with commute time between 10 to 14 minutes at 40% of the total and is ranked #1. Third, it has one of the largest proportions of people with commute time between 15 to 19 minutes at 29% of the total and is ranked #2. The only larger place being Horton Bay CDP with 36%.

The average commute time is shown in Figure 37. Walloon Lake CDP depicts it has a Avg Commute Time of 16 which is the second smallest as measured by average commute time of all the other places in the greater region. Figure 38 shows the difference between male versus female commuting time. Walloon Lake CDP depicts average commute time in minutes for men 30.6% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Walloon Lake CDP has the percentage of no vehicle available in the middle range of other places in the metro area at 20% of the total. Second, it has the largest proportion of 1 vehicle available at 68% of the total and is ranked #1. Third, it has the smallest proportion of 2 vehicles available at 7% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Walloon Lake CDP shows it has a Work in city or place where live of 7% which is the smallest when ranked by people who both work and live in the same city of all the other places in the metro area. The place with the highest people who both work and live in the same city in the area is Petoskey which depicts a people who both work and live in the same city of 63% ( markedly bigger). Comparing people who both work and live in the same city to the United States average of 43%, Walloon Lake CDP is approximately a sixth the size. Also, measured against the state of Michigan, people who both work and live in the same city of 31%, Walloon Lake CDP is approximately a fifth the size.

Walloon Lake CDP Michigan Jobs Charts

Similarly, Figure 47 shows the median earnings of women for the job categories and Walloon Lake CDP depicts it has the hightest median earnings of $38,571 for the earnings-sales and office occupations grouping. The table in Figure 48, shows Walloon Lake CDP employment data in terms of job categories and salary data.

Walloon Lake CDP 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. Walloon Lake CDP 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. Walloon Lake CDP shows it has the hightest entrepreneurs of 100% for the self employed in construction group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Walloon Lake CDP shows it has a Self Employment Income of $27,433 which is the third most average annual self employment income of all other places in the greater Walloon Lake CDP region. The place with the highest average annual self employment income in the area is Petoskey which depicts an average annual self employment income of $53,038 (about twice as large). Comparing average annual self employment income to the United States average of $40,101, Walloon Lake CDP is approximately three-fourths the size. Also, measured against the state of Michigan, average annual self employment income of $33,217, Walloon Lake CDP is about 21.1% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Walloon Lake CDP shows total number of self-employed men 45.5% larger as the total number of self-employed women.