Rice Lake CDP Minnesota Income Charts

This section shows the Rice Lake CDP Minnesota economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Rice Lake CDP depicts it has a Median earnings of $32,500 which is the second smallest in order of median earnings per worker of all the other places in the local area. The place with the highest median earnings per worker in the area is Twin Lakes CDP which depicts a median earnings of $47,708 (46.8% larger). Comparing median earnings per worker to the United States average of $49,041, Rice Lake CDP is approximately three-fourths the size. Also, benchmarked against the state of Minnesota, median earnings per worker of $52,993, Rice Lake CDP 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 $33,250 which is in the mid range of other places in the greater region. The place with the highest median household income in the area is Twin Lakes CDP which depicts a median income of $57,222 (72.1% larger). Comparing median household income to the United States average of $62,843, Rice Lake CDP is approximately half the size. Also, in contrast to the state of Minnesota, median household income of $71,306, Rice Lake CDP is approximately half the size.

The next section examines a variety of different income statistics for the Rice Lake CDP metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $10,000 and $14,999 at 14.3% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 34.5 which is the second smallest when sorted by average hours of all the other places in the greater region. The place with the highest average hours in the area is Ebro CDP which shows an average hours of 43.4 (25.8% 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 $18.12 which is in the mid point range of other places in the local area. The place with the highest average hourly earnings in the area is Twin Lakes CDP which depicts an average hourly earnings of $23.71 (30.9% larger). Comparing average hourly earnings to the United States average of $24.31, Rice Lake CDP is approximately three-fourths the size. Also, benchmarked against the state of Minnesota, average hourly earnings of $26.61, Rice Lake CDP is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Rice Lake CDP metro area based on the number of people who reported any self employment income. Rice Lake CDP depicts it has a Self Employed of 13.4% which is the third most people self employed of all other places in the greater Rice Lake CDP region. The place with the highest percentage of people self employed in the area is Ebro CDP which indicates a percentage self employed of 25.9% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-25 to 44 years the second smallest when sorted by median income for those under 25 years of age of all the other places in the surrounding region at $21,875 of the total. Second, it has one of the largest proportions of median income-45 to 64 years at $50,625 of the total and is ranked #2. The only larger place being Twin Lakes CDP with $57,500.

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 9.0% which is the second smallest when ranked by households with retirement income of all the other places in the local area. The place with the highest households with retirement income in the area is Twin Lakes CDP which shows a households with retirement income of 28.0% (approximately 3.1 times bigger).

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 $60,000 of the total. Second, it has in the mid point range of other places in the local area in terms of black family income at $26,875 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. Rice Lake CDP depicts it has the hightest cost of 117.2 for the cost of utilities grouping.

Rice Lake CDP 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 depicts that from February 2010 to before the disasterous COVID-19 Pandemic the monthly unemployment rate went from 4.6% to 2.4% in February 2020. This represents a decrease in the monthly unemployment rate of 47.8%. Since that time, the monthly unemployment rate has gone to 2.6% This represents an increase in the monthly unemployment rate of 8.3%. 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/COVID Pandemic the monthly labor force participation went from 21,732 to 24,812 in February 2020. This represents an increase in the monthly labor force participation of 14.2%. Since that time, the monthly labor force participation has gone to 24,550 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 Rice Lake CDP shows it has a Unemployment Rate of 18.2% which is ranked #1 of all places in the local area. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Rice Lake CDP depicts it has a Labor Force Participation of 57.0% which is the second most of all the places in the local area.

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). Rice Lake CDP has the largest proportion of employed at 18.2% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Rice Lake CDP shows full time employees 67.7% larger 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 Rice Lake CDP area. Rice Lake CDP depicts it has a Single Earner Families of 21.4% which is less than most other places in the greater region. The place with the highest families with a single earner in the area is Elbow Lake CDP which shows a single earners rate of 28.6% (33.3% larger). The percentage of families with no one working is depicted in Figure 22. Rice Lake CDP depicts it has a Families with No One Working of 57.1% which is more than all other places in the greater Rice Lake CDP region.

Rice Lake CDP Minnesota Poverty Charts

The next section details economy analysis about poverty for residents of the Rice Lake CDP 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. Rice Lake CDP depicts it has a Total In Poverty of 95 which is the third most total people earning less than the poverty level of all other places in the greater Rice Lake CDP region. The place with the highest total people earning less than the poverty level in the area is Bagley which shows a total people earning less than the poverty level of 223 (approximately 2.3 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Rice Lake CDP depicts it has a Percent of Population In Poverty of 33.5% which is in the middle range of other places in the metro area. The place with the highest percent of people earning less than the poverty level in the area is Elbow Lake CDP which shows a percent of people in poverty of 51.9% (55.1% larger).

In Figure 25 people who are in poverty are broken out by age group. Rice Lake CDP has the largest proportion of person in poverty under 12 years at 21% of the total and is ranked #1. Second, it has less than most other places in the metro area in order of person in poverty 18 to 34 years at 15% of the total. Third, it has less than most other places in the metropolitan area as measured by person in poverty 55 to 64 years at 4% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Rice Lake CDP has the percentage of black poverty rate the second smallest as measured by white poverty rate of all the other places in the metro area at 37% of the total. Second, 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. Rice Lake CDP has one of the largest proportions of married with children and in poverty at 49% of the total and is ranked #3. Only #2 Ebro CDP (63%), and #1 Naytahwaush CDP (70%) are larger. Second, it has one of the largest proportions of unmarried with children and in poverty at 55% of the total and is ranked #2. The only larger place being Naytahwaush CDP with 83%. Third, it has in the mid range of other places in the surrounding region as measured by unmarried female with children and in poverty at 24% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Rice Lake CDP has one of the largest proportions of less than highschool in poverty at 34% of the total and is ranked #3. Only #2 Naytahwaush CDP (37%), and #1 Elbow Lake CDP (40%) are larger. Second, it has one of the largest proportions of highschool graduate and in poverty at 36% of the total and is ranked #3. Only #2 Elbow Lake CDP (59%), and #1 Ebro CDP (61%) are larger. Third, it has the largest proportion of has some college and in poverty at 29% 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. Rice Lake CDP has the largest proportion of people who are in poverty and employed at 14.7% of the total and is ranked #1. Second, it has less than most other places in the local area when sorted by people who are in poverty and unemployed at 8.4% 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.) Rice Lake CDP depicts it has a Public Assistance Percent of 58.2% which is the largest of all places in the greater Rice Lake CDP region.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Rice Lake CDP shows it has a Gini Index of 43.8% which is the third most the gini index of all other places in the greater Rice Lake CDP region.

Rice Lake CDP Minnesota Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Rice Lake CDP or elsewhere.) Rice Lake CDP has the percentage of people who carpooled less than most other places in the local area at 3% of the total. Second, it has the largest proportion of people who walked at 8% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Rice Lake CDP has the largest proportion of people who leave for work between 830 am to 9am at 13% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 9am to 10am at 9% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 10am to 11am at 5% of the total and is ranked #1. Also, it has one of the largest proportions of people who leave for work between 12noon to 4pm at 24% of the total and is ranked #2. The only larger place being Ebro CDP with 30%.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Rice Lake CDP has the percentage of people with commute time of less than 5 minutesutes less than most other places in the area at 4% of the total. Second, it has less than most other places in the area as measured by people with commute time between 5 to 9 minutes at 7% of the total. Third, it has in the middle range of other places in the local area when sorted by people with commute time between 10 to 14 minutes at 4% of the total. Also, it has the largest proportion of people with commute time between 15 to 19 minutes at 27% of the total and is ranked #1.

The average commute time is shown in Figure 37. Rice Lake CDP shows it has a Avg Commute Time of 23 which is the third most average commute time of all other places in the greater Rice Lake CDP region. Figure 38 shows the difference between male versus female commuting time. Rice Lake CDP shows average commute time in minutes for men about 21.2% smaller as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Rice Lake CDP has the percentage of no vehicle available less than most other places in the greater region at 25% of the total. Second, it has the largest proportion of 4 vehicles available at 12% 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.) Rice Lake CDP depicts it has a Work in city or place where live of 15% which is less than most other places in the greater region. The place with the highest people who both work and live in the same city in the area is Bagley which depicts a people who both work and live in the same city of 54% (approximately 3.5 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Rice Lake CDP is approximately a third the size. Also, benchmarked against the state of Minnesota, people who both work and live in the same city of 34%, Rice Lake CDP is approximately half the size.

Rice Lake CDP Minnesota Jobs Charts

The table in Figure 48, shows Rice Lake CDP employment data in terms of job categories and salary data.

Rice Lake CDP Minnesota Self Employment Charts

In Figure 51 the average annual self employment/entrepreneur income is shown. Rice Lake CDP shows it has a Self Employment Income of $15,400 which is in the middle range of other places in the area. The place with the highest average annual self employment income in the area is Shevlin which depicts an average annual self employment income of $26,556 (72.4% larger). Comparing average annual self employment income to the United States average of $39,154, Rice Lake CDP is approximately half the size. Also, measured against the state of Minnesota, average annual self employment income of $36,330, Rice Lake CDP is approximately half the size.