Minnesota Lake Minnesota Income Charts

This section shows the Minnesota Lake Minnesota economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Minnesota Lake depicts it has a median earnings per worker of $43,068 which is the second most median earnings of all the places in the greater Minnesota Lake region. The city with the highest median earnings per worker in the area is Pemberton which depicts a median earnings of $46,406 (7.8% larger). Comparing median earnings per worker to the United States average of $47,712, Minnesota Lake is about 10.8% smaller. Also, benchmarked against the state of Minnesota, median earnings per worker of $51,758, Minnesota Lake is about 20.2% 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 $58,750 which is in the mid point range of other places in the surrounding region. The city with the highest median household income in the area is Easton which shows a median income of $71,667 (22.0% larger). Comparing median household income to the United States average of $60,293, Minnesota Lake is only about 2.6% smaller. Also, compared with the state of Minnesota, median household income of $68,411, Minnesota Lake is about 16.4% smaller.

The next section examines a variety of different income statistics for the Minnesota Lake metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $10,000 and $14,999 at 4.7% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has an average hours of 40.3 which is the second most average hours of all the places in the greater Minnesota Lake region. The city with the highest average hours in the area is Easton which shows an average hours of 40.6 ( about the same size). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has an average hourly earnings of $20.55 which is in the mid point range of other places in the metropolitan area. The city with the highest average hourly earnings in the area is Pemberton which depicts an average hourly earnings of $22.31 (8.6% larger). Comparing average hourly earnings to the United States average of $23.71, Minnesota Lake is about 15.4% smaller. Also, in comparison with the state of Minnesota, average hourly earnings of $25.99, Minnesota Lake is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Minnesota Lake metro area based on the number of people who reported any self employment income. Minnesota Lake depicts it has a percentage of people self employed of 10.8% which is less than most other places in the surrounding region. The city with the highest percentage of people self employed in the area is Waldorf which shows a percentage self employed of 21.7% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $63,750 of the total and is ranked #1. Second, it has one of the largest proportions of median income-25 to 44 years at $61,250 of the total and is ranked #3. Only #2 Mapleton ($67,083), and #1 Easton ($81,250) are larger. Third, it has one of the largest proportions of median income-45 to 64 years at $76,250 of the total and is ranked #3. Only #2 Easton ($76,563), and #1 Pemberton ($90,000) are larger. Also, it has the largest proportion of median income-65 years and over at $46,250 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 households with retirement income of 13.4% which is in the mid range of other places in the local area. The city with the highest households with retirement income in the area is Delavan which shows a households with retirement income of 17.0% (26.3% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $68,229 of the total and is ranked #3. Only #2 Easton ($72,083), and #1 Pemberton ($78,125) are larger. Second, it has one of the largest proportions of white family income at $68,229 of the total and is ranked #3. Only #2 Easton ($72,083), and #1 Pemberton ($79,375) are larger.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Minnesota Lake shows it has the hightest cost of 113.5 for the cost of utilities aggregate.

Minnesota 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 disasterous COVID-19 Pandemic the monthly unemployment rate went from 7.1% to 2.2% in December 2019. This represents a decrease in the monthly unemployment rate of 69.0%. Since that time, the monthly unemployment rate has gone to 2.2% This represents an increase in the monthly unemployment rate of very little. 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 indicates that from January 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 23,882 to 27,084 in November 2019. This represents an increase in the monthly labor force participation of 13.4%. Since that time, the monthly labor force participation has gone to 27,084 This represents an increase 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 Minnesota Lake shows it has an unemployment rate of 2.5% which is the second smallest in order of unemployment rate of all the other places in the local area. The city with the highest unemployment rate in the area is Pemberton which shows a rate of 5.7% (approximately 2.3 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Minnesota Lake indicates it has a participation rate of 72.0% which is ranked #1 of all places in the greater Minnesota 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). Minnesota Lake has the largest proportion of employed at 69.5% of the total and is ranked #1. Second, it has the smallest proportion of not in labor force at 28.0% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Minnesota Lake depicts full time employees approximately 4.1 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 Minnesota Lake area. Minnesota Lake depicts it has a families with a single earner of 21.0% which is in the mid range of other places in the local area. The city with the highest families with a single earner in the area is Waldorf which shows a single earners rate of 49.0% (approximately 2.3 times bigger). The percentage of families with no one working is depicted in Figure 22. Minnesota Lake shows it has a families with no one working of 6.2% 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 Wells which shows a families with no worker of 19.6% (approximately 3.2 times bigger).

Minnesota Lake Minnesota Poverty Charts

The next section details economy analysis about poverty for residents of the Minnesota 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. Minnesota Lake indicates it has a total people earning less than the poverty level of 29 which is the second smallest when ranked by total people earning less than the poverty level of all the other places in the greater region. The city with the highest total people earning less than the poverty level in the area is Wells which depicts a total people earning less than the poverty level of 364 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Minnesota Lake depicts it has a percent of people earning less than the poverty level of 4.6% which is the second smallest in terms of percent of people earning less than the poverty level of all the other places in the metropolitan area. The city with the highest percent of people earning less than the poverty level in the area is Wells which shows a percent of people in poverty of 16.3% (approximately 3.5 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Minnesota Lake has one of the largest proportions of person in poverty under 12 years at 31% of the total and is ranked #2. The only larger city being Delavan with 32%. Second, it has one of the largest proportions of person in poverty 18 to 34 years at 24% of the total and is ranked #3. Only #2 Wells (24%), and #1 Waldorf (27%) are larger. Third, it has the largest proportion of person in poverty 35 to 54 years at 31% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Minnesota Lake has the percentage of white poverty rate the second smallest in order of white poverty rate of all the other places in the area at 5% of the total. Second, it has one of the largest proportions of hispanicp poverty rate at 62% of the total and is ranked #3. Only #2 Pemberton (74%), and #1 Waldorf (100%) are larger.

Figure 27 shows key poverty statistics for groups based on marriage status. Minnesota Lake has the smallest proportion of unmarried with children and in poverty at 14% of the total. Second, it has the second smallest as measured by married with children and in poverty of all the other places in the local area when sorted by unmarried female with children and in poverty at 17% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Minnesota Lake has one of the largest proportions of less than highschool in poverty at 40% of the total and is ranked #2. The only larger city being Wells with 42%. Second, it has the smallest proportion of highschool graduate and in poverty at 3% 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. Minnesota Lake has one of the largest proportions of people who are in poverty and employed at 31.0% of the total and is ranked #2. The only larger city being Delavan with 36.6%. Second, it has the largest proportion of people who are in poverty and unemployed at 6.9% of the total and is ranked #1. Third, it has one of the largest proportions of people who are in poverty and not in labor force at 17.2% of the total and is ranked #2. The only larger city being Waldorf with 18.2%. 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.) Minnesota Lake indicates it has a households with public assistance of 5.2% which is the second smallest when ranked by households with public assistance of all the other places in the surrounding region. The city with the highest households with public assistance in the area is Waldorf which shows a households with public assistance of 20.7% (approximately 4.0 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Minnesota Lake shows it has a the gini index of 33.9% which is the third most the gini index of all other places in the greater Minnesota Lake region.

Minnesota Lake Minnesota Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Minnesota Lake community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Minnesota Lake has the smallest proportion of people who work at home at 1% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Minnesota Lake or elsewhere.) Minnesota Lake has one of the largest proportions of people who drove alone at 91% of the total and is ranked #2. The only larger city being Pemberton with 97%. Second, it has the smallest proportion of people who work at home at 1% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Minnesota Lake has the largest proportion of people who leave for work between 5am to 530am at 8% of the total and is ranked #1. Second, it has the smallest proportion of people who leave for work between 730 am to 8am at 8% of the total. Third, it has the largest proportion of people who leave for work between 11am to 12noon at 1% 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. Minnesota Lake has the percentage of people with commute time of less than 5 minutesutes the second smallest in order of people with commute time of less than 5 minutes of all the other places in the local area at 3% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 14% of the total and is ranked #2. The only larger city being Wells with 31%. Third, it has the second smallest in order of people with commute time of less than 5 minutes of all the other places in the local area in order of people with commute time between 20 to 24 minutes at 4% of the total. Also, it has the largest proportion of people with commute time between 30 to 34 minutes at 25% 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 15% of the total and is ranked #1.

The average commute time is shown in Figure 37. Minnesota Lake depicts it has an average commute time of 28 which is the second most average commute time of all the places in the greater Minnesota Lake region. Figure 38 shows the difference between male versus female commuting time. Minnesota Lake depicts average commute time in minutes for men 29.6% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Minnesota Lake has the percentage of 4 vehicles available in the mid range of other places in the local area at 13% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Minnesota Lake depicts it has a people who both work and live in the same city of 14% which is the second smallest in terms of people who both work and live in the same city of all the other places in the greater region. The city with the highest people who both work and live in the same city in the area is Wells which shows a people who both work and live in the same city of 51% (approximately 3.7 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Minnesota Lake is approximately a third the size. Also, compared with the state of Minnesota, people who both work and live in the same city of 34%, Minnesota Lake is approximately half the size.

Minnesota 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. Minnesota Lake shows it has the hightest median earnings of $61,667 for the earnings-computer, engineering, and science occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Minnesota Lake shows it has the hightest median earnings of $42,750 for the earnings-production, transportation, material moving occupations aggregate. The table in Figure 48, shows Minnesota Lake employment data in terms of job categories and salary data.

Minnesota 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. Minnesota Lake depicts it has the hightest entrepreneurs of 57% for the self employed in production, transportation, and material moving businesses aggregate.

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. Minnesota Lake shows it has the hightest entrepreneurs of 57% for the self employed in transportation, warehousing, and utilities category.

In Figure 51 the average annual self employment/entrepreneur income is shown. Minnesota Lake depicts it has an average annual self employment income of $26,552 which is the third most average annual self employment income of all other places in the greater Minnesota Lake region. The city with the highest average annual self employment income in the area is Easton which shows an average annual self employment income of $74,233 (approximately 2.8 times bigger). Comparing average annual self employment income to the United States average of $37,819, Minnesota Lake is approximately three-fourths the size. Also, in contrast to the state of Minnesota, average annual self employment income of $35,396, Minnesota Lake is approximately three-fourths the size.

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