Eagle Lake Minnesota Income Charts

This section shows the Eagle Lake Minnesota economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Eagle Lake shows it has a Median earnings of $45,609 which is in the middle range of other places in the area. The city with the highest median earnings per worker in the area is Skyline which depicts a median earnings of $56,094 (23.0% larger). Comparing median earnings per worker to the United States average of $49,041, Eagle Lake is about 7.5% smaller. Also, in comparison with the state of Minnesota, median earnings per worker of $52,993, Eagle Lake is about 16.2% smaller.

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 $74,219 which is the third most median income of all other places in the greater Eagle Lake region. The city with the highest median household income in the area is Skyline which depicts a median income of $89,375 (20.4% larger). Comparing median household income to the United States average of $62,843, Eagle Lake is 18.1% larger. Also, in contrast to the state of Minnesota, median household income of $71,306, Eagle Lake is only about 4.1% larger.

The next section examines a variety of different income statistics for the Eagle Lake metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 the second smallest as measured by median earnings of less than $10,000 of all the other places in the local area at 4.6% of the total. Second, it has the largest proportion of earnings between $15,000 and $19,999 at 40.3% of the total and is ranked #1. Third, it has the largest proportion of earnings between $20,000 and $49,999 at 26.9% 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 39.2 which is in the intermediate range of other places in the greater region. The city with the highest average hours in the area is Skyline which depicts an average hours of 42.7 (8.9% 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 $22.37 which is less than most other places in the surrounding region. The city with the highest average hourly earnings in the area is Skyline which shows an average hourly earnings of $25.26 (12.9% larger). Comparing average hourly earnings to the United States average of $24.31, Eagle Lake is about 8.6% smaller. Also, versus the state of Minnesota, average hourly earnings of $26.61, Eagle Lake is about 18.9% smaller.

Figure 7 examines the number of self employed people in the Eagle Lake metro area based on the number of people who reported any self employment income. Eagle Lake shows it has a Self Employed of 7.7% which is the smallest in terms of percentage of people self employed of all the other places in the greater region. The city with the highest percentage of people self employed in the area is Skyline which depicts a percentage self employed of 27.0% (approximately 3.5 times bigger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $81,776 of the total and is ranked #2. The only larger city being Madison Lake with $100,938. Second, it has one of the largest proportions of median income-25 to 44 years at $86,548 of the total and is ranked #3. Only #2 Madison Lake ($86,667), and #1 Skyline ($116,250) are larger. Third, it has one of the largest proportions of median income-45 to 64 years at $57,083 of the total and is ranked #2. The only larger city being Skyline with $76,250.

Figure 9 breaks down the source of income and Eagle Lake has the smallest proportion of investment and retirement income at 3.9% 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 14.4% which is in the mid range of other places in the surrounding region. The city with the highest households with retirement income in the area is Skyline which shows a households with retirement income of 40.0% (approximately 2.8 times bigger).

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 mid range of other places in the greater region at $82,500 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. Eagle Lake shows it has the hightest cost of 113.5 for the cost of utilities grouping.

Eagle Lake 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 Wuhan virus Pandemic the monthly unemployment rate went from 7.1% to 2.5% in February 2020. This represents a decrease in the monthly unemployment rate of 64.8%. Since that time, the monthly unemployment rate has gone to 4.2% This represents an increase in the monthly unemployment rate of 68.0%. 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 disasterous Coronavirus Pandemic the monthly labor force participation went from 24,115 to 26,912 in February 2020. This represents an increase in the monthly labor force participation of 11.6%. Since that time, the monthly labor force participation has gone to 26,152 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 Eagle Lake depicts it has a Unemployment Rate of 5.7% which is the largest of all places in the greater Eagle Lake region. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Eagle Lake shows it has a Labor Force Participation of 82.1% which is at the top of all other places in the greater Eagle Lake 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). Eagle Lake has the largest proportion of employed at 5.7% of the total and is ranked #1. Second, it has the smallest proportion of unemployed at 17.9% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Eagle Lake shows full time employees approximately 3.6 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 Eagle Lake area. Eagle Lake shows it has a Single Earner Families of 10.8% which is the smallest in terms of families with a single earner of all the other places in the local area. The city with the highest families with a single earner in the area is Kasota which depicts a single earners rate of 37.4% (approximately 3.5 times bigger). The percentage of families with no one working is depicted in Figure 22. Eagle Lake shows it has a Families with No One Working of 7.9% which is less than most other places in the local area. The city with the highest families with no one working in the area is Skyline which depicts a families with no worker of 17.3% (about twice as large).

Eagle Lake Minnesota Poverty Charts

The next section details economy analysis about poverty for residents of the Eagle 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. Eagle Lake shows it has a Total In Poverty of 241 which is in the mid point range of other places in the local area. The city with the highest total people earning less than the poverty level in the area is Mankato which shows a total people earning less than the poverty level of 9,732 ( considerably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Eagle Lake shows it has a Percent of Population In Poverty of 8.1% which is the second smallest in terms 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 Mankato which depicts a percent of people in poverty of 25.0% (approximately 3.1 times bigger).

Figure 27 shows key poverty statistics for groups based on marriage status. Eagle Lake has the percentage of unmarried with children and in poverty less than most other places in the metropolitan area at 43% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Eagle Lake has the smallest proportion of less than highschool in poverty at 2% of the total. Second, it has the smallest proportion of has some college 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. Eagle Lake has one of the largest proportions of people who are in poverty and employed at 11.2% of the total and is ranked #3. Only #2 Madison Lake (11.2%), and #1 Janesville (12.9%) are larger. Second, it has the second smallest when ranked by people who are in poverty and employed of all the other places in the metro area when ranked by people who are in poverty and unemployed at 2.5% 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.) Eagle Lake depicts it has a Public Assistance Percent of 7.9% which is less than most other places in the local area. The city with the highest households with public assistance in the area is Kasota which depicts a households with public assistance of 19.5% (approximately 2.5 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Eagle Lake depicts it has a Gini Index of 35.5% which is the smallest as measured by the gini index of all the other places in the local area.

Eagle Lake Minnesota Work Commute Charts

In Figure 35 is shown a frequency distribution of the time that people leave for work. Eagle Lake has the smallest proportion of people who leave for work between 6am to 630am at 6% of the total. Second, it has the smallest proportion of people who leave for work between 730 am to 8am at 7% of the total. Third, it has the largest proportion of people who leave for work between 8am to 830am at 7% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 9am to 10am at 5% 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. Eagle Lake has the percentage of people with commute time of less than 5 minutesutes in the mid range of other places in the local area at 12% of the total. Second, it has in the mid range of other places in the metro area when ranked by people with commute time between 5 to 9 minutes at 32% of the total. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 33% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 25 to 29 minutes at 3% of the total. In addition, it has the smallest proportion of people with commute time between 60 to 89 minutes at 2% of the total.

The average commute time is shown in Figure 37. Eagle Lake shows it has a Avg Commute Time of 17 which is less than most other places in the local area. Figure 38 shows the difference between male versus female commuting time. Eagle Lake shows average commute time in minutes for men 32.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Eagle Lake has the percentage of no vehicle available the second smallest in terms of no vehicle available of all the other places in the metro area at 11% of the total. Second, it has one of the largest proportions of 1 vehicle available at 52% of the total and is ranked #2. The only larger city being Skyline with 52%. Third, it has the second smallest as measured by no vehicle available of all the other places in the local area when ranked by 3 vehicles available at 8% of the total. Also, it has the second smallest in order of no vehicle available of all the other places in the greater region when ranked by 4 vehicles available at 1% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Eagle Lake depicts it has a Work in city or place where live of 9% which is the smallest as measured by people who both work and live in the same city of all the 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 Mankato which shows a people who both work and live in the same city of 71% ( substantially bigger). Comparing people who both work and live in the same city to the United States average of 42%, Eagle Lake is approximately a fifth the size. Also, compared to the state of Minnesota, people who both work and live in the same city of 34%, Eagle Lake is approximately a quarter the size.

Eagle Lake 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. Eagle Lake depicts it has the hightest median earnings of $73,000 for the earnings-protective service occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Eagle Lake shows it has the hightest median earnings of $71,250 for the earnings-healthcare practitioners and tech occupations grouping. The table in Figure 48, shows Eagle Lake employment data in terms of job categories and salary data.

Eagle Lake 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. Eagle Lake shows it has the hightest entrepreneurs of 74% for the self employed management, business, science, and arts businesses category.

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. Eagle Lake depicts it has the hightest entrepreneurs of 42% for the self employed in construction group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Eagle Lake shows it has a Self Employment Income of $33,594 which is the second most average annual self employment income of all the places in the greater Eagle Lake region. The city with the highest average annual self employment income in the area is Skyline which shows an average annual self employment income of $39,990 (19.0% larger). Comparing average annual self employment income to the United States average of $39,154, Eagle Lake is about 16.5% smaller. Also, compared to the state of Minnesota, average annual self employment income of $36,330, Eagle Lake is about 8.1% smaller.

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