Lake Bronson Minnesota Income Charts

This section shows the Lake Bronson Minnesota economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Bronson depicts it has a Median earnings of $27,292 which is the smallest in terms of median earnings per worker of all the other places in the metro area. The city with the highest median earnings per worker in the area is Stephen which depicts a median earnings of $52,672 (about twice as large). Comparing median earnings per worker to the United States average of $53,269, Lake Bronson is approximately half the size. Also, versus the state of Minnesota, median earnings per worker of $57,586, Lake Bronson is approximately half 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 $48,056 which is the second smallest when ranked by median household income of all the other places in the metro area. The city with the highest median household income in the area is Stephen which shows a median income of $70,781 (47.3% larger). Comparing median household income to the United States average of $69,021, Lake Bronson is approximately three-fourths the size. Also, measured against the state of Minnesota, median household income of $77,706, Lake Bronson is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Lake Bronson metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 8.4% of the total and is ranked #3. Only #2 Lancaster (8.9%), and #1 Hallock (11.2%) are larger. Second, it has the second smallest when ranked by median earnings of less than $10,000 of all the other places in the local area as measured by earnings between $10,000 and $14,999 at 1.4% of the total. Third, it has the largest proportion of earnings between $15,000 and $19,999 at 58.7% of the total and is ranked #1. Also, it has the second smallest in order of median earnings of less than $10,000 of all the other places in the local area when sorted by earnings between $20,000 and $49,999 at 15.4% of the total. In addition, it has the smallest proportion of earnings between $50,000 and $74,999 at 2.8% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.2 which is the second smallest in order of average hours of all the other places in the metro area. The city with the highest average hours in the area is Lancaster which depicts an average hours of 42.8 (12.0% 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 $13.74 which is the smallest when ranked by average hourly earnings of all the other places in the area. The city with the highest average hourly earnings in the area is Stephen which depicts an average hourly earnings of $24.00 (74.7% larger). Comparing average hourly earnings to the United States average of $26.40, Lake Bronson is approximately half the size. Also, versus the state of Minnesota, average hourly earnings of $28.99, Lake Bronson is approximately half the size.

Figure 7 examines the number of self employed people in the Lake Bronson metro area based on the number of people who reported any self employment income. Lake Bronson depicts it has a Self Employed of 8.3% which is the second smallest as measured by percentage of people self employed of all the other places in the local area. The city with the highest percentage of people self employed in the area is Stephen which shows a percentage self employed of 22.7% (approximately 2.7 times bigger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years the second smallest in terms of median income for those under 25 years of age of all the other places in the local area at $42,000 of the total. Second, it has one of the largest proportions of median income-25 to 44 years at $73,125 of the total and is ranked #2. The only larger city being Stephen with $76,250. Third, it has in the center range of other places in the metro area in order of median income-45 to 64 years at $35,000 of the total.

Figure 9 breaks down the source of income and Lake Bronson has the largest proportion of investment and retirement income at 14.7% 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 16.7% which is less than most other places in the greater region. The city with the highest households with retirement income in the area is Lancaster which depicts a households with retirement income of 31.8% (about twice as large).

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 middle range of other places in the metro area at $74,375 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. Lake Bronson depicts it has the hightest cost of 113.6 for the cost of miscellaneous items grouping.

Lake Bronson 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 indicates that from February 2010 to before the Wuhan virus Pandemic the monthly unemployment rate went from 3.5% to 2.0% in February 2020. This represents a decrease in the monthly unemployment rate of 42.9%. Since that time, the monthly unemployment rate has gone to 1.8% This represents a decrease in the monthly unemployment rate of 10.0%. 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 Wuhan Coronavirus Pandemic the monthly labor force participation went from 30,603 to 30,878 in March 2020. This represents an increase in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 31,919 This represents an increase in the monthly labor force participation of 3.4%.

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 Lake Bronson shows it has a Unemployment Rate of 10.3% which is the second most unemployment rate of all the places in the greater Lake Bronson region. The city with the highest unemployment rate in the area is Strandquist which depicts a rate of 16.7% (61.1% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Bronson shows it has a Labor Force Participation of 76.4% which is the largest of all places in the greater Lake Bronson 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). Lake Bronson has the smallest proportion of unemployed at 23.6% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Bronson shows full time employees very much 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 Lake Bronson area. Lake Bronson shows it has a Single Earner Families of 5.6% which is the second smallest as measured by families with a single earner of all the other places in the metropolitan area. The city with the highest families with a single earner in the area is Stephen which depicts a single earners rate of 24.0% (approximately 4.3 times bigger). The percentage of families with no one working is depicted in Figure 22. Lake Bronson depicts it has a Families with No One Working of 5.6% which is the second smallest in order of families with no one working of all the other places in the metro area. The city with the highest families with no one working in the area is Lancaster which depicts a families with no worker of 21.9% (approximately 3.9 times bigger).

Lake Bronson Minnesota Poverty Charts

The next section details economy analysis about poverty for residents of the Lake Bronson 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. Lake Bronson depicts it has a Total In Poverty of 15 which is in the mid point range of other places in the metropolitan area. The city with the highest total people earning less than the poverty level in the area is Hallock which shows a total people earning less than the poverty level of 99 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake Bronson shows it has a Percent of Population In Poverty of 8.4% which is the third most percent of people earning less than the poverty level of all other places in the greater Lake Bronson region. The city with the highest percent of people earning less than the poverty level in the area is Hallock which shows a percent of people in poverty of 12.5% (48.9% larger).

In Figure 25 people who are in poverty are broken out by age group. Lake Bronson has one of the largest proportions of person in poverty 12 to 17 years at 27% of the total and is ranked #3. Only #2 Stephen (32%), and #1 Lancaster (50%) are larger. Second, it has one of the largest proportions of person in poverty 18 to 34 years at 47% of the total and is ranked #2. The only larger city being Strandquist with 67%. Third, it has one of the largest proportions of person in poverty 35 to 54 years at 13% of the total and is ranked #2. The only larger city being Stephen with 25%.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake Bronson has one of the largest proportions of married with children and in poverty at 33% of the total and is ranked #3. Only #2 Karlstad (35%), and #1 Hallock (73%) are larger. Second, it has the largest proportion of unmarried with children and in poverty at 100% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Lake Bronson has one of the largest proportions of people who are in poverty and unemployed at 13.3% of the total and is ranked #2. The only larger city being Stephen with 20.5%. 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.) Lake Bronson shows it has a Public Assistance Percent of 4.2% which is the second smallest in terms of households with public assistance of all the other places in the greater region. The city with the highest households with public assistance in the area is Kennedy which depicts a households with public assistance of 10.9% (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). Lake Bronson depicts it has a Gini Index of 33.2% which is the second smallest as measured by the gini index of all the other places in the local area.

Lake Bronson Minnesota Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lake Bronson or elsewhere.) Lake Bronson has the largest proportion of people who drove alone at 95% of the total and is ranked #1. Second, it has the smallest proportion of people who carpooled at 3% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Lake Bronson has the percentage of people who leave for work between 12am to 5am less than most other places in the local area at 2% of the total. Second, it has the largest proportion of people who leave for work between 5am to 530am at 33% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 6am to 630am at 1% of the total. Also, it has the smallest proportion of people who leave for work between 730 am to 8am at 2% of the total. In addition, it has the largest proportion of people who leave for work between 9am to 10am at 4% of the total and is ranked #1. Furthermore, it has the largest proportion of people who leave for work between 12noon to 4pm at 7% 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. Lake Bronson has the smallest proportion of people with commute time of less than 5 minutesutes at 5% of the total. Second, it has less than most other places in the area when sorted by people with commute time between 5 to 9 minutes at 3% of the total. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 54% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 25 to 29 minutes at 2% of the total.

The average commute time is shown in Figure 37. Lake Bronson shows it has a Avg Commute Time of 23 which is the third most average commute time of all other places in the greater Lake Bronson region. Figure 38 shows the difference between male versus female commuting time. Lake Bronson depicts average commute time in minutes for men approximately three-fourths the size as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake Bronson has one of the largest proportions of no vehicle available at 23% of the total and is ranked #2. The only larger city being Strandquist with 33%. Second, it has one of the largest proportions of 1 vehicle available at 53% of the total and is ranked #3. Only #2 Lancaster (57%), and #1 Kennedy (64%) are larger. Third, it has the smallest proportion of 2 vehicles available at 7% of the total. Also, it has one of the largest proportions of 3 vehicles available at 14% of the total and is ranked #2. The only larger city being Lancaster with 18%. In addition, it has the second smallest when ranked by no vehicle available of all the other places in the metro area in order of 4 vehicles available at 3% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake Bronson depicts it has a Work in city or place where live of 10% which is the second smallest in order of people who both work and live in the same city of all the other places in the area. The city with the highest people who both work and live in the same city in the area is Hallock which shows a people who both work and live in the same city of 64% ( considerably bigger). Comparing people who both work and live in the same city to the United States average of 44%, Lake Bronson is approximately a fifth the size. Also, compared to the state of Minnesota, people who both work and live in the same city of 38%, Lake Bronson is approximately a quarter the size.

Lake Bronson 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. Lake Bronson shows it has the hightest median earnings of $56,875 for the earnings-natural resources, construction, maintenance occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Bronson shows it has the hightest median earnings of $47,500 for the earnings-sales and office occupations aggregate. The table in Figure 48, shows Lake Bronson employment data in terms of job categories and salary data.

Lake Bronson 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. Lake Bronson depicts it has the hightest entrepreneurs of 80% 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. Lake Bronson depicts it has the hightest entrepreneurs of 80% for the self employed in arts, entertainment, recreation, accommodation and food services aggregate.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Bronson shows total number of self-employed men 25.0% larger as the total number of self-employed women.