Lake of the Woods County Income Charts

This section shows the Lake of the Woods County Minnesota economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake of the Woods County depicts it has a Median earnings of $41,934 which is the smallest when ranked by median earnings per worker of all the other counties in the local area. The county with the highest median earnings per worker in the area is Koochiching County which depicts a median earnings of $50,027 (19.3% larger). Comparing median earnings per worker to the United States average of $50,459, Lake of the Woods County is about 20.3% smaller. Also, measured against the state of Minnesota, median earnings per worker of $54,146, Lake of the Woods County 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 $50,669 which is the second smallest when ranked by median household income of all the other counties in the local area. The county with the highest median household income in the area is Roseau County which depicts a median income of $62,304 (23.0% larger). Comparing median household income to the United States average of $64,994, Lake of the Woods County is approximately three-fourths the size. Also, measured against the state of Minnesota, median household income of $73,382, Lake of the Woods County is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Lake of the Woods County metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 7.8% of the total and is ranked #2. The only larger county being Beltrami County with 8.0%. Second, it has the largest proportion of earnings between $15,000 and $19,999 at 38.0% of the total and is ranked #1. Third, it has the smallest proportion of earnings between $20,000 and $49,999 at 19.3% of the total. Also, it has the smallest proportion of earnings between $50,000 and $74,999 at 5.2% of the total. In addition, it has the smallest proportion of earnings between $75,000 and $99,999 at 3.5% 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 38.5 which is less than most other counties in the local area. The county with the highest average hours in the area is Marshall County which depicts an average hours of 41.6 (8.1% 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 $20.95 which is the second smallest when sorted by average hourly earnings of all the other counties in the metropolitan area. The county with the highest average hourly earnings in the area is Koochiching County which depicts an average hourly earnings of $25.52 (21.8% larger). Comparing average hourly earnings to the United States average of $25.01, Lake of the Woods County is about 19.4% smaller. Also, measured against the state of Minnesota, average hourly earnings of $27.19, Lake of the Woods County is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Lake of the Woods County metro area based on the number of people who reported any self employment income. Lake of the Woods County shows it has a Self Employed of 12.7% which is less than most other counties in the metro area. The county with the highest percentage of people self employed in the area is Marshall County which shows a percentage self employed of 19.3% (51.7% larger).

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 counties in the local area at $56,038 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $57,784 of the total. Third, it has the smallest proportion of median income-45 to 64 years at $35,156 of the total.

Figure 9 breaks down the source of income and Lake of the Woods County has the smallest proportion of social security at 0.7% 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 19.7% which is in the middle range of other counties in the local area. The county with the highest households with retirement income in the area is Koochiching County which shows a households with retirement income of 30.7% (55.8% 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 the second smallest as measured by overall family income of all the other counties in the metropolitan area at $67,951 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 of the Woods County depicts it has the hightest cost of 117.2 for the cost of utilities aggregate.

Lake of the Woods County 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 January 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 7.3% to 5.5% in March 2020. This represents a decrease in the monthly unemployment rate of 24.7%. Since that time, the monthly unemployment rate has gone to 2.6% This represents a decrease in the monthly unemployment rate of 52.7%. 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 January 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly labor force participation went from 2,309 to 2,509 in March 2020. This represents an increase in the monthly labor force participation of 8.7%. Since that time, the monthly labor force participation has gone to 2,500 This represents a decrease 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 Lake of the Woods County shows it has a Unemployment Rate of 2.8% which is in the mid range of other counties in the local area. The county with the highest unemployment rate in the area is Beltrami County which shows a rate of 3.8% (38.9% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake of the Woods County depicts it has a Labor Force Participation of 65.4% which is the third most participation rates of all other counties in the greater Lake of the Woods County region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake of the Woods County depicts full time employees approximately 2.8 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 Lake of the Woods County area. Lake of the Woods County depicts it has a Single Earner Families of 14.4% which is the smallest when ranked by families with a single earner of all the other counties in the metropolitan area. The county with the highest families with a single earner in the area is Koochiching County which shows a single earners rate of 24.3% (68.8% larger). The percentage of families with no one working is depicted in Figure 22. Lake of the Woods County shows it has a Families with No One Working of 21.1% which is the second most families with no one working of all the counties in the greater Lake of the Woods County region. The county with the highest families with no one working in the area is Koochiching County which indicates a families with no worker of 21.4% ( only slightly larger).

Lake of the Woods County Poverty Charts

The next section details economy analysis about poverty for residents of the Lake of the Woods County 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 of the Woods County indicates it has a Total In Poverty of 363 which is the smallest in order of total people earning less than the poverty level of all the other counties in the surrounding region. The county with the highest total people earning less than the poverty level in the area is Beltrami County which shows a total people earning less than the poverty level of 8,167 ( appreciably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake of the Woods County indicates it has a Percent of Population In Poverty of 9.8% which is less than most other counties in the metro area. The county with the highest percent of people earning less than the poverty level in the area is Beltrami County which depicts a percent of people in poverty of 18.3% (about twice as large).

In Figure 25 people who are in poverty are broken out by age group. Lake of the Woods County has the largest proportion of person in poverty under 12 years at 26% of the total and is ranked #1. Second, it has the smallest proportion of person in poverty 12 to 17 years at 6% of the total. Third, it has the largest proportion of person in poverty 18 to 34 years at 21% of the total and is ranked #1. Also, it has the smallest proportion of person in poverty 35 to 54 years at 8% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake of the Woods County has the largest proportion of white poverty rate at 100% of the total and is ranked #1. Second, it has the largest proportion of black poverty rate at 100% of the total and is ranked #1. Third, it has the largest proportion of hawaiian poverty rate at 100% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake of the Woods County has one of the largest proportions of married with children and in poverty at 39% of the total and is ranked #3. Only #2 Beltrami County (40%), and #1 Pennington County (41%) are larger. Second, it has one of the largest proportions of unmarried with children and in poverty at 46% of the total and is ranked #3. Only #2 Beltrami County (46%), and #1 Pennington County (48%) are larger.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Lake of the Woods County has the smallest proportion of less than highschool in poverty at 5% 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. Lake of the Woods County has the smallest proportion of people who are in poverty and unemployed at 12.7% 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.) Lake of the Woods County depicts it has a Public Assistance Percent of 5.3% which is the second smallest when sorted by households with public assistance of all the other counties in the area. The county with the highest households with public assistance in the area is Beltrami County which depicts a households with public assistance of 14.2% (approximately 2.7 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake of the Woods County shows it has a Gini Index of 39.6% which is less than most other counties in the greater region.

Lake of the Woods County Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lake of the Woods County or elsewhere.) Lake of the Woods County has the largest proportion of people who carpooled at 14% of the total and is ranked #1. Second, it has the smallest proportion of people who took a taxicab, motorcycle or other at 0% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Lake of the Woods County has the largest proportion of people who leave for work between 6am to 630am at 13% of the total and is ranked #1. Second, it has the smallest proportion of people who leave for work between 830 am to 9am at 0% of the total. Third, it has the smallest proportion of people who leave for work between 9am to 10am at 0% of the total. Also, it has the largest proportion of people who leave for work between 10am to 11am at 3% of the total and is ranked #1. In addition, it has the smallest proportion of people who leave for work between 12noon to 4pm at 2% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Lake of the Woods County has one of the largest proportions of people with commute time of less than 5 minutesutes at 26% of the total and is ranked #3. Only #2 Koochiching County (36%), and #1 Pennington County (37%) are larger. Second, it has the second smallest in order of people with commute time of less than 5 minutes of all the other counties in the local area when sorted by people with commute time between 5 to 9 minutes at 8% of the total. Third, it has the largest proportion of people with commute time between 15 to 19 minutes at 21% of the total and is ranked #1. Also, it has the largest proportion of people with commute time between 30 to 34 minutes at 4% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 35 to 39 minutes at 6% of the total and is ranked #1. Furthermore, it has the smallest proportion of people with commute time between 60 to 89 minutes at 1% of the total.

The average commute time is shown in Figure 37. Lake of the Woods County depicts it has a Avg Commute Time of 19 which is in the mid range of other counties in the metro area. Figure 38 shows the difference between male versus female commuting time. Lake of the Woods County shows average commute time in minutes for men 44.9% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake of the Woods County has the smallest proportion of 1 vehicle available at 32% of the total. Second, it has the largest proportion of 3 vehicles available at 16% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake of the Woods County depicts it has a Work in city or place where live of 70% which is the third most of all other counties in the local area. The county with the highest people who both work and live in the same city in the area is Pennington County which depicts a people who both work and live in the same city of 87% (25.1% larger). Comparing people who both work and live in the same city to the United States average of 43%, Lake of the Woods County is 64.2% larger. Also, measured against the state of Minnesota, people who both work and live in the same city of 36%, Lake of the Woods County is about twice as large.

Lake of the Woods County 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 of the Woods County shows it has the hightest median earnings of $123,068 for the earnings-computer, engineering, and science occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake of the Woods County shows it has the hightest median earnings of $85,469 for the management, business, and financial occupations grouping. The table in Figure 48, shows Lake of the Woods County employment data in terms of job categories and salary data.

Lake of the Woods County 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 of the Woods County depicts it has the hightest entrepreneurs of 43% 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. Lake of the Woods County depicts it has the hightest entrepreneurs of 43% for the self employed in arts, entertainment, recreation, accommodation and food services group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake of the Woods County depicts it has a Self Employment Income of $37,566 which is in the middle range of other counties in the greater region. The county with the highest average annual self employment income in the area is Red Lake County which shows an average annual self employment income of $48,873 (30.1% larger). Comparing average annual self employment income to the United States average of $40,101, Lake of the Woods County is about 6.7% smaller. Also, in comparison with the state of Minnesota, average annual self employment income of $37,348, Lake of the Woods County is about the same size.

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