This section shows the Ivanhoe Minnesota economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Ivanhoe depicts it has a Median earnings of $47,188 which is the third most median earnings of all other places in the greater Ivanhoe region. The city with the highest median earnings per worker in the area is Arco which depicts a median earnings of $60,417 (28.0% larger). Comparing median earnings per worker to the United States average of $53,269, Ivanhoe is about 12.9% smaller. Also, in comparison with the state of Minnesota, median earnings per worker of $57,586, Ivanhoe is about 22.0% 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 $48,750 which is the second smallest when ranked by median household income of all the other places in the local area. The city with the highest median household income in the area is Arco which depicts a median income of $56,346 (15.6% larger). Comparing median household income to the United States average of $69,021, Ivanhoe is approximately three-fourths the size. Also, measured against the state of Minnesota, median household income of $77,706, Ivanhoe is approximately three-fourths the size.
The next section examines a variety of different income statistics for the Ivanhoe metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $10,000 and $14,999 at 10.1% of the total and is ranked #1. Second, it has the largest proportion of earnings between $20,000 and $49,999 at 32.4% of the total and is ranked #1. Third, it has the largest proportion of earnings between $50,000 and $74,999 at 7.4% of the total and is ranked #1. Also, it has the smallest proportion of earnings between $75,000 and $99,999 at 0.9% of the total. 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 $23.82 which is the second most average hourly earnings of all the places in the greater Ivanhoe region. The city with the highest average hourly earnings in the area is Arco which depicts an average hourly earnings of $27.02 (13.4% larger). Comparing average hourly earnings to the United States average of $26.40, Ivanhoe is about 10.9% smaller. Also, in contrast to the state of Minnesota, average hourly earnings of $28.99, Ivanhoe is about 21.7% smaller.
Figure 5 examines the number of self employed people in the Ivanhoe metro area based on the number of people who reported any self employment income. Ivanhoe depicts it has a Self Employed of 15.6% which is the third most people self employed of all other places in the greater Ivanhoe region. The city with the highest percentage of people self employed in the area is Taunton which depicts a percentage self employed of 16.4% (only about 5.6% larger).
Figure 6 breaks down the source of income and Ivanhoe has the largest proportion of self employment income at 14.4% of the total and is ranked #1.
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 23.2% which is the largest of all places in the greater Ivanhoe region.
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Ivanhoe 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. Ivanhoe depicts it has the hightest cost of 102.2 for the cost of healthcare category.
Ivanhoe 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. Ivanhoe shows it has a Percent of Population In Poverty of 7.5% which is the smallest as measured by percent of people earning less than the poverty level of all the other places in the area. The city with the highest percent of people earning less than the poverty level in the area is Hendricks which shows a percent of people in poverty of 17.4% (approximately 2.3 times 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.) Ivanhoe depicts it has a Public Assistance Percent of 15.2% which is the third most households with public assistance of all other places in the greater Ivanhoe region. The city with the highest households with public assistance in the area is Arco which shows a households with public assistance of 18.4% (21.0% larger).
Ivanhoe Minnesota Labor Force Charts
The table in Figure 13, shows Ivanhoe 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 shows that from February 2017 to before the Coronavirus Pandemic it went from 3.2% to 3.1% in December 2019. This represents a decrease in the monthly unemployment rate of 3.1%. Since that time, the monthly unemployment rate has gone to 3.1%. This represents an increase in the monthly unemployment rate of very little.
Ivanhoe 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.
Ivanhoe Minnesota Work Commute Charts
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. Ivanhoe depicts it has a Avg Commute Time of 25 which is the third most average commute time of all other places in the greater Ivanhoe 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.