Wolverine Lake Michigan Income Charts

This section shows the Wolverine 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, Wolverine Lake shows it has a Median earnings of $62,023 which is less than most other places in the metro area. The city with the highest median earnings per worker in the area is Orchard Lake Village which indicates a median earnings of $107,014 (72.5% larger). Comparing median earnings per worker to the United States average of $49,041, Wolverine Lake is 26.5% larger. Also, measured against the state of Michigan, median earnings per worker of $48,618, Wolverine Lake is 27.6% 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 $85,019 which is the third most median income of all other places in the greater Wolverine Lake region. The city with the highest median household income in the area is Orchard Lake Village which shows a median income of $182,273 (about twice as large). Comparing median household income to the United States average of $62,843, Wolverine Lake is 35.3% larger. Also, versus the state of Michigan, median household income of $57,144, Wolverine Lake is 48.8% larger.

The next section examines a variety of different income statistics for the Wolverine Lake metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $10,000 and $14,999 at 3.3% of the total. Second, it has the largest proportion of earnings between $20,000 and $49,999 at 27.3% 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 41.0 which is the highest of all places in the greater Wolverine Lake region. 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 $29.09 which is less than most other places in the local area. The city with the highest average hourly earnings in the area is Orchard Lake Village which depicts an average hourly earnings of $50.44 (73.4% larger). Comparing average hourly earnings to the United States average of $24.31, Wolverine Lake is 19.7% larger. Also, compared to the state of Michigan, average hourly earnings of $24.48, Wolverine Lake is 18.9% larger.

Figure 7 examines the number of self employed people in the Wolverine Lake metro area based on the number of people who reported any self employment income. Wolverine Lake shows it has a Self Employed of 8.3% which is the second smallest in terms of percentage of people self employed of all the other places in the surrounding region. The city with the highest percentage of people self employed in the area is Orchard Lake Village which depicts a percentage self employed of 16.8% (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 less than most other places in the area at $88,846 of the total. Second, it has one of the largest proportions of median income-25 to 44 years at $105,428 of the total and is ranked #3. Only #2 Novi ($126,201), and #1 Orchard Lake Village ($207,917) are larger. Third, it has less than most other places in the greater region in order of median income-45 to 64 years at $46,295 of the total.

Figure 9 breaks down the source of income and Wolverine Lake has the largest proportion of social security at 0.6% 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 24.8% which is the second most of all the places in the area. The city with the highest households with retirement income in the area is Milford which depicts a households with retirement income of 26.4% (6.8% 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 in order of overall family income of all the other places in the greater region at $101,563 of the total. Second, it has less than most other places in the metro area as measured by hawaiian family income at $49,840 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. Wolverine Lake shows it has the hightest cost of 129.5 for the cost of utilities category.

Wolverine 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 January 2010 to before the Coronavirus Pandemic the monthly unemployment rate went from 12.5% to 3.6% in March 2020. This represents a decrease in the monthly unemployment rate of 71.2%. Since that time, the monthly unemployment rate has gone to 3.0% This represents a decrease in the monthly unemployment rate of 16.7%. 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 Covid-19 virus Pandemic the monthly labor force participation went from 21,168 to 24,107 in March 2020. This represents an increase in the monthly labor force participation of 13.9%. Since that time, the monthly labor force participation has gone to 23,435 This represents a decrease in the monthly labor force participation of 2.8%.

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 Wolverine Lake shows it has a Unemployment Rate of 1.3% which is the second smallest as measured by unemployment rate of all the other places in the local area. The city with the highest unemployment rate in the area is Walled Lake which shows a rate of 3.9% (approximately 2.9 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Wolverine Lake depicts it has a Labor Force Participation of 62.6% which is the second smallest as measured by participation rate of all the other places in the metro area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Wolverine Lake 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 Wolverine Lake area. Wolverine Lake shows it has a Single Earner Families of 25.1% which is less than most other places in the area. The city with the highest families with a single earner in the area is Orchard Lake Village which depicts a single earners rate of 33.4% (33.1% larger). The percentage of families with no one working is depicted in Figure 22. Wolverine Lake depicts it has a Families with No One Working of 16.7% which is the third most of all other places in the metro area. The city with the highest families with no one working in the area is Milford which depicts a families with no worker of 19.4% (16.2% larger).

Wolverine Lake Michigan Poverty Charts

The next section details economy analysis about poverty for residents of the Wolverine 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. Wolverine Lake shows it has a Total In Poverty of 195 which is the smallest when sorted by total people earning less than the poverty level of all the other places in the metro area. The city with the highest total people earning less than the poverty level in the area is Farmington Hills which shows a total people earning less than the poverty level of 5,488 ( 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. Wolverine Lake shows it has a Percent of Population In Poverty of 4.2% which is the second smallest in order of percent of people earning less than the poverty level of all the other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Walled Lake which depicts a percent of people in poverty of 8.9% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Wolverine Lake has the percentage of person in poverty 12 to 17 years the second smallest when ranked by person in poverty under 12 years of all the other places in the local area at 18% of the total. Second, it has the smallest proportion of person in poverty 18 to 34 years at 10% 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.

Figure 27 shows key poverty statistics for groups based on marriage status. Wolverine Lake 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 8% of the total. Second, it has less than most other places in the metro area when ranked by unmarried with children and in poverty at 15% 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. Wolverine Lake has the percentage of people who are in poverty and unemployed the second smallest when ranked by people who are in poverty and employed of all the other places in the area at 8.7% 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.) Wolverine Lake depicts it has a Public Assistance Percent of 3.2% which is the second smallest in order of households with public assistance of all the other places in the surrounding region. The city with the highest households with public assistance in the area is Walled Lake which shows a households with public assistance of 15.7% (approximately 5.0 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Wolverine Lake depicts it has a Gini Index of 43.3% which is less than most other places in the local area.

Wolverine 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 Wolverine 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.) Wolverine Lake has the smallest proportion of people who take public transportation to work at 0% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Wolverine Lake or elsewhere.) Wolverine Lake has the largest proportion of people who drove alone at 88% of the total and is ranked #1. Second, it has the smallest proportion of people who walked at 0% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Wolverine Lake has the largest proportion of people who leave for work between 5am to 530am at 8% of the total and is ranked #1. Second, it has the smallest proportion of people who leave for work between 630 am to 7am at 10% of the total. Third, it has the smallest proportion of people who leave for work between 730 am to 8am at 10% of the total. Also, it has the largest proportion of people who leave for work between 8am to 830am at 12% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 10am to 11am at 3% 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. Wolverine Lake has the percentage of people with commute time of less than 5 minutesutes the second smallest in terms of people with commute time of less than 5 minutes of all the other places in the metropolitan area at 5% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 14% of the total and is ranked #2. The only larger city being Walled Lake with 18%. Third, it has the largest proportion of people with commute time between 15 to 19 minutes at 17% of the total and is ranked #1.

The average commute time is shown in Figure 37. Wolverine Lake depicts it has a Avg Commute Time of 28 which is the third most average commute time of all other places in the greater Wolverine Lake region. Figure 38 shows the difference between male versus female commuting time. Wolverine Lake shows average commute time in minutes for men 47.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Wolverine Lake has the percentage of no vehicle available the second smallest when ranked by no vehicle available of all the other places in the local area at 12% of the total. Second, it has one of the largest proportions of 1 vehicle available at 48% of the total and is ranked #3. Only #2 Farmington Hills (49%), and #1 Novi (50%) are larger. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Wolverine Lake depicts it has a Work in city or place where live of 6% which is the smallest when ranked by people who both work and live in the same city of all the other places in the greater region. The city with the highest people who both work and live in the same city in the area is Milford which shows a people who both work and live in the same city of 24% (approximately 4.0 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Wolverine Lake is approximately a sixth the size. Also, measured against the state of Michigan, people who both work and live in the same city of 30%, Wolverine Lake is approximately a fifth the size.

Wolverine 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. Wolverine Lake depicts it has the hightest median earnings of $102,016 for the earnings-computer, engineering, and science occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Wolverine Lake depicts it has the hightest median earnings of $95,625 for the management, business, and financial occupations grouping. The table in Figure 48, shows Wolverine Lake employment data in terms of job categories and salary data.

Wolverine 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. Wolverine Lake depicts it has the hightest entrepreneurs of 40% for the self employed in sales and office related 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. Wolverine Lake depicts it has the hightest entrepreneurs of 24% for the self employed in finance, insurance, real estate, rental and leasing group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Wolverine Lake depicts it has a Self Employment Income of $56,267 which is the second most of all the places in the metro area. The city with the highest average annual self employment income in the area is Orchard Lake Village which depicts an average annual self employment income of $185,862 (approximately 3.3 times bigger). Comparing average annual self employment income to the United States average of $39,154, Wolverine Lake is 43.7% larger. Also, measured against the state of Michigan, average annual self employment income of $32,754, Wolverine Lake is 71.8% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Wolverine Lake shows total number of self-employed men about 12.7% smaller as the total number of self-employed women.