This section shows the Riverton Minnesota economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Riverton shows it has a Median earnings of $41,250 which is in the center range of other places in the area. The city with the highest median earnings per worker in the area is Ironton which depicts a median earnings of $55,556 (34.7% larger). Comparing median earnings per worker to the United States average of $53,269, Riverton is approximately three-fourths the size. Also, versus the state of Minnesota, median earnings per worker of $57,586, Riverton 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 $43,750 which is less than most other places in the greater region. The city with the highest median household income in the area is Trommald which shows a median income of $47,292 (8.1% larger). Comparing median household income to the United States average of $69,021, Riverton is approximately three-fourths the size. Also, benchmarked against the state of Minnesota, median household income of $77,706, Riverton is approximately half the size.
The next section examines a variety of different income statistics for the Riverton metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings less than $10,000 at 3.1% of the total. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 15.4% of the total and is ranked #1. 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 $20.71 which is in the mid range of other places in the metro area. The city with the highest average hourly earnings in the area is Ironton which shows an average hourly earnings of $27.97 (35.0% larger). Comparing average hourly earnings to the United States average of $26.40, Riverton is approximately three-fourths the size. Also, measured against the state of Minnesota, average hourly earnings of $28.99, Riverton is approximately three-fourths the size.
Figure 5 examines the number of self employed people in the Riverton metro area based on the number of people who reported any self employment income. Riverton shows it has a Self Employed of 3.2% which is the smallest when sorted by percentage of people self employed of all the other places in the metropolitan area. The city with the highest percentage of people self employed in the area is Crosby which shows a percentage self employed of 12.3% (approximately 3.8 times bigger).
Figure 6 breaks down the source of income and Riverton has the smallest proportion of self employment income at 1.6% of the total.
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 8.1% which is the smallest in terms of households with retirement income of all the other places in the greater region. The city with the highest households with retirement income in the area is Cuyuna which depicts a households with retirement income of 37.8% (approximately 4.7 times bigger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Riverton depicts full time employees approximately 3.8 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. Riverton depicts it has the hightest cost of 117.2 for the cost of utilities grouping.
Riverton 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. Riverton depicts it has a Percent of Population In Poverty of 17.8% which is in the intermediate range of other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Crosby which shows a percent of people in poverty of 24.2% (36.4% larger).
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.) Riverton shows it has a Public Assistance Percent of 14.5% which is less than most other places in the surrounding region. The city with the highest households with public assistance in the area is Deerwood which depicts a households with public assistance of 21.8% (50.2% larger).
Riverton Minnesota Labor Force Charts
The table in Figure 13, shows Riverton 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 disasterous Covid-19 virus Pandemic it went from 4.6% to 3.5% in December 2019. This represents a decrease in the monthly unemployment rate of 23.9%. Since that time, the monthly unemployment rate has gone to 3.5%. This represents an increase in the monthly unemployment rate of very little.
Riverton 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.
Riverton Minnesota Work Commute Charts
Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Riverton or elsewhere.) Riverton has the largest proportion of people who drove alone at 85% of the total and is ranked #1.
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. Riverton depicts it has a Avg Commute Time of 25 which is the third most average commute time of all other places in the greater Riverton 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.