Albert Lea Minnesota Income Charts

This section shows the Albert Lea Minnesota economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Albert Lea shows it has a Median earnings of $40,081 which is less than most other places in the metro area. The city with the highest median earnings per worker in the area is Manchester which shows a median earnings of $51,250 (27.9% larger). Comparing median earnings per worker to the United States average of $49,041, Albert Lea is about 22.4% smaller. Also, compared to the state of Minnesota, median earnings per worker of $52,993, Albert Lea is approximately three-fourths the size.

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 $47,508 which is in the mid point range of other places in the local area. The city with the highest median household income in the area is Conger which depicts a median income of $56,250 (18.4% larger). Comparing median household income to the United States average of $62,843, Albert Lea is approximately three-fourths the size. Also, measured against the state of Minnesota, median household income of $71,306, Albert Lea is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Albert Lea metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings between $10,000 and $14,999 at 6.8% of the total and is ranked #3. Only #2 Hayward (7.6%), and #1 Glenville (8.8%) are larger. Second, it has one of the largest proportions of earnings between $15,000 and $19,999 at 43.3% of the total and is ranked #3. Only #2 Clarks Grove (47.8%), and #1 Twin Lakes (54.8%) are larger.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.3 which is in the mid point range of other places in the metro area. The city with the highest average hours in the area is Glenville which indicates an average hours of 39.3 (only about 2.6% 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 $20.13 which is in the center range of other places in the area. The city with the highest average hourly earnings in the area is Manchester which depicts an average hourly earnings of $31.09 (54.5% larger). Comparing average hourly earnings to the United States average of $24.31, Albert Lea is about 20.8% smaller. Also, measured against the state of Minnesota, average hourly earnings of $26.61, Albert Lea is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Albert Lea metro area based on the number of people who reported any self employment income. Albert Lea shows it has a Self Employed of 6.6% which is the second smallest in order 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 Clarks Grove which depicts a percentage self employed of 16.1% (approximately 2.4 times bigger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the middle range of other places in the greater region at $49,487 of the total. Second, it has in the middle range of other places in the metro area in order of median income-25 to 44 years at $58,365 of the total. Third, it has in the center range of other places in the local area when ranked by median income-45 to 64 years at $36,058 of the total.

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 20.9% which is in the middle range of other places in the metro area. The city with the highest households with retirement income in the area is Twin Lakes which depicts a households with retirement income of 28.6% (36.8% 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 in the center range of other places in the local area at $56,592 of the total. Second, it has the largest proportion of black family income at $93,966 of the total and is ranked #1. Third, it has one of the largest proportions of american indian family income at $32,500 of the total and is ranked #2. The only larger city being Clarks Grove with $52,969. Also, it has the largest proportion of hawaiian family income at $37,909 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. Albert Lea depicts it has the hightest cost of 105.6 for the cost of utilities category.

Albert Lea Minnesota 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 disasterous COVID Pandemic the monthly unemployment rate went from 9.7% to 3.2% 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 15.6%. 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 February 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 14,479 to 14,905 in February 2020. This represents an increase in the monthly labor force participation of 2.9%. Since that time, the monthly labor force participation has gone to 14,995 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 Albert Lea shows it has a Unemployment Rate of 2.8% which is the second most unemployment rate of all the places in the greater Albert Lea region. The city with the highest unemployment rate in the area is Twin Lakes which depicts a rate of 4.7% (67.7% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Albert Lea shows it has a Labor Force Participation of 61.3% which is the smallest when ranked by participation rate of all the other places in the surrounding region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Albert Lea has the largest proportion of unemployed at 38.7% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Albert Lea depicts full time employees approximately 3.5 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 Albert Lea area. Albert Lea shows it has a Single Earner Families of 23.7% which is less than most other places in the area. The city with the highest families with a single earner in the area is Hayward which shows a single earners rate of 50.0% (about twice as large). The percentage of families with no one working is depicted in Figure 22. Albert Lea shows it has a Families with No One Working of 24.3% 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 Twin Lakes which shows a families with no worker of 33.3% (37.2% larger).

Albert Lea Minnesota Poverty Charts

The next section details economy analysis about poverty for residents of the Albert Lea 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. Albert Lea shows it has a Total In Poverty of 2,334 which is the largest of all places in the local area.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Albert Lea depicts it has a Percent of Population In Poverty of 13.5% which is the third most percent of people earning less than the poverty level of all other places in the greater Albert Lea region. The city with the highest percent of people earning less than the poverty level in the area is Manchester which shows a percent of people in poverty of 53.8% (approximately 4.0 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Albert Lea has the largest proportion of person in poverty under 12 years at 11% of the total and is ranked #1. Second, it has less than most other places in the local area in terms of person in poverty 18 to 34 years at 19% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Albert Lea has the largest proportion of white poverty rate at 21% of the total and is ranked #1. Second, it has the largest proportion of black poverty rate at 54% of the total and is ranked #1. Third, it has the largest proportion of american indian poverty rate at 35% of the total and is ranked #1. Also, it has the largest proportion of hawaiian poverty rate at 18% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Albert Lea has one of the largest proportions of married with children and in poverty at 37% of the total and is ranked #2. The only larger city being Manchester with 100%. Second, it has one of the largest proportions of unmarried with children and in poverty at 44% of the total and is ranked #2. The only larger city being Twin Lakes with 71%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Albert Lea has one of the largest proportions of less than highschool in poverty at 15% of the total and is ranked #2. The only larger city being Manchester with 25%. Second, it has in the mid range of other places in the greater region in order of highschool graduate and in poverty at 8% 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. Albert Lea has the largest proportion of people who are in poverty and employed at 5.4% 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.) Albert Lea shows it has a Public Assistance Percent of 12.5% which is the second most of all the places in the local area. The city with the highest households with public assistance in the area is Manchester which shows a households with public assistance of 32.1% (approximately 2.6 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Albert Lea shows it has a Gini Index of 40.3% which is the second most the gini index of all the places in the greater Albert Lea region.

Albert Lea Minnesota 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 Albert Lea 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.) Albert Lea has the largest proportion of people who drive a car or motorcycle to work at 1% 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 Albert Lea or elsewhere.) Albert Lea has one of the largest proportions of people who drove alone at 83% of the total and is ranked #2. The only larger city being Glenville with 83%. Second, it has the largest proportion of people who take the bus at 1% of the total and is ranked #1. Third, it has the largest proportion of people who bike at 1% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Albert Lea has the percentage of people who leave for work between 12am to 5am the second smallest in order of people who leave for work between 12am to 5am of all the other places in the surrounding region at 5% of the total. Second, it has the largest proportion of people who leave for work between 10am to 11am at 1% 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. Albert Lea has the largest proportion of people with commute time of less than 5 minutesutes at 30% of the total and is ranked #1. Second, it has the largest proportion of people with commute time between 5 to 9 minutes at 25% of the total and is ranked #1. Third, it has the smallest proportion of people with commute time between 10 to 14 minutes at 12% of the total. Also, it has the smallest proportion of people with commute time between 15 to 19 minutes at 7% of the total.

The average commute time is shown in Figure 37. Albert Lea depicts it has a Avg Commute Time of 17 which is the smallest when sorted by average commute time of all the other places in the greater region. Figure 38 shows the difference between male versus female commuting time. Albert Lea depicts average commute time in minutes for men 61.1% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Albert Lea has one of the largest proportions of no vehicle available at 23% of the total and is ranked #3. Only #2 Conger (23%), and #1 Manchester (47%) are larger. Second, it has one of the largest proportions of 1 vehicle available at 44% of the total and is ranked #3. Only #2 Hayward (45%), and #1 Twin Lakes (62%) are larger. Third, it has less than most other places in the greater region in order of 2 vehicles available at 18% of the total. Also, it has the second smallest when sorted by no vehicle available of all the other places in the area in order of 4 vehicles available at 2% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Albert Lea depicts it has a Work in city or place where live of 76% which is the largest of all places in the greater Albert Lea region. Comparing people who both work and live in the same city to the United States average of 42%, Albert Lea is about twice as large. Also, in comparison with the state of Minnesota, people who both work and live in the same city of 34%, Albert Lea is approximately 2.3 times bigger.

Albert Lea Minnesota 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. Albert Lea depicts it has the hightest median earnings of $71,181 for the earnings-healthcare practitioners and tech occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Albert Lea depicts it has the hightest median earnings of $65,764 for the earnings-healthcare practitioners and tech occupations group. The table in Figure 48, shows Albert Lea employment data in terms of job categories and salary data.

Albert Lea Minnesota 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. Albert Lea shows it has the hightest entrepreneurs of 44% 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. Albert Lea depicts it has the hightest entrepreneurs of 28% for the self employed in construction grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Albert Lea shows it has a Self Employment Income of $18,731 which is less than most other places in the surrounding region. The city with the highest average annual self employment income in the area is Clarks Grove which shows an average annual self employment income of $43,092 (approximately 2.3 times bigger). Comparing average annual self employment income to the United States average of $39,154, Albert Lea is approximately half the size. Also, compared with the state of Minnesota, average annual self employment income of $36,330, Albert Lea is approximately half the size.

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