This section shows the Federal Dam Minnesota economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Federal Dam depicts it has a Median earnings of $41,250 which is less than most other places in the local area. The city with the highest median earnings per worker in the area is Whipholt CDP which depicts a median earnings of $53,750 (30.3% larger). Comparing median earnings per worker to the United States average of $53,269, Federal Dam is approximately three-fourths the size. Also, measured against the state of Minnesota, median earnings per worker of $57,586, Federal Dam 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 $52,500 which is the second most median income of all the places in the greater Federal Dam region. The city with the highest median household income in the area is Whipholt CDP which depicts a median income of $61,250 (16.7% larger). Comparing median household income to the United States average of $69,021, Federal Dam is approximately three-fourths the size. Also, in comparison with the state of Minnesota, median household income of $77,706, Federal Dam is approximately three-fourths the size.
The next section examines a variety of different income statistics for the Federal Dam metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings between $15,000 and $19,999 at 42.0% of the total and is ranked #2. The only larger city being Bena with 68.6%. Second, it has the largest proportion of earnings between $50,000 and $74,999 at 8.0% of the total and is ranked #1. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $19.68 which is less than most other places in the local area. The city with the highest average hourly earnings in the area is Longville which shows an average hourly earnings of $27.14 (37.9% larger). Comparing average hourly earnings to the United States average of $26.40, Federal Dam is approximately three-fourths the size. Also, compared with the state of Minnesota, average hourly earnings of $28.99, Federal Dam is approximately three-fourths the size.
Figure 5 examines the number of self employed people in the Federal Dam metro area based on the number of people who reported any self employment income. Federal Dam shows it has a Self Employed of 8.3% which is the second smallest when sorted by percentage of people self employed of all the other places in the metro area. The city with the highest percentage of people self employed in the area is Whipholt CDP which depicts a percentage self employed of 16.7% (about twice as large).
The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 27.1% which is less than most other places in the surrounding region. The city with the highest households with retirement income in the area is Longville which depicts a households with retirement income of 66.4% (approximately 2.5 times bigger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Federal Dam shows full time employees approximately 3.7 times bigger as the part time employees.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Federal Dam depicts it has the hightest cost of 117.2 for the cost of utilities grouping.
Federal Dam Minnesota Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Federal Dam depicts it has a Percent of Population In Poverty of 2.9% which is the smallest as measured by percent of people earning less than the poverty level of all the other places in the greater region. The city with the highest percent of people earning less than the poverty level in the area is Bena which shows a percent of people in poverty of 61.9% ( very much bigger).
Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Federal Dam depicts it has a Public Assistance Percent of 27.1% which is the third most households with public assistance of all other places in the greater Federal Dam region. The city with the highest households with public assistance in the area is Bena which shows a households with public assistance of 45.0% (66.2% larger).
Federal Dam Minnesota Labor Force Charts
The table in Figure 13, shows Federal Dam employment data in terms of job categories and salary data.
The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the COVID-19 Pandemic it went from 4.6% to 3.5% in December 2019. This represents a decrease in the monthly unemployment rate of 23.9%. Since that time, the monthly unemployment rate has gone to 3.5%. This represents an increase in the monthly unemployment rate of very little.
Federal Dam Minnesota Jobs Charts
In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.
Figure 16 shows the average median earnings for different categories of jobs.
Federal Dam Minnesota Work Commute Charts
Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Federal Dam or elsewhere.) Federal Dam has the smallest proportion of people who drove alone at 49% of the total. Second, it has the largest proportion of people who took a taxicab, motorcycle or other at 14% of the total and is ranked #1.
Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.
The average commute time is shown in Figure 21. Federal Dam shows it has a Avg Commute Time of 39 which is the most of all places in the greater Federal Dam region.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.