Soudan CDP Minnesota Income Charts

This section shows the Soudan 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, Soudan CDP depicts it has a Median earnings of $51,250 which is the most of all places in the greater Soudan CDP region. Comparing median earnings per worker to the United States average of $49,041, Soudan CDP is only about 4.5% larger. Also, versus the state of Minnesota, median earnings per worker of $52,993, Soudan CDP is only about 3.4% 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 $60,250 which is the largest of all places in the greater Soudan CDP region. Comparing median household income to the United States average of $62,843, Soudan CDP is only about 4.3% smaller. Also, in contrast to the state of Minnesota, median household income of $71,306, Soudan CDP is about 18.4% smaller.

The next section examines a variety of different income statistics for the Soudan CDP metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings less than $10,000 at 2.0% 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 39.3 which is the third most average hours of all other places in the greater Soudan CDP region. The place with the highest average hours in the area is Tower which depicts an average hours of 42.5 (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 $25.08 which is at the top of all other places in the greater Soudan CDP region. Comparing average hourly earnings to the United States average of $24.31, Soudan CDP is only about 3.2% larger. Also, compared to the state of Minnesota, average hourly earnings of $26.61, Soudan CDP is about 6.1% smaller.

Figure 7 examines the number of self employed people in the Soudan CDP metro area based on the number of people who reported any self employment income. Soudan CDP depicts it has a Self Employed of 9.6% which is the second most people self employed of all the places in the greater Soudan CDP region. The place with the highest percentage of people self employed in the area is Ely which depicts a percentage self employed of 13.0% (36.1% larger).

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 $81,250 of the total and is ranked #1. Second, it has in the mid point range of other places in the local area in order of median income-25 to 44 years at $59,375 of the total. Third, it has the largest proportion of median income-45 to 64 years at $55,313 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 35.4% which is the third most of all other places in the area. The place with the highest households with retirement income in the area is Hoyt Lakes which shows a households with retirement income of 43.9% (24.1% 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 $67,500 of the total and is ranked #3. Only #2 Tower ($68,594), and #1 Biwabik ($71,154) 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. Soudan CDP depicts it has the hightest cost of 117.2 for the cost of utilities category.

Soudan 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 Pandemic the monthly unemployment rate went from 8.2% to 3.0% in February 2020. This represents a decrease in the monthly unemployment rate of 63.4%. Since that time, the monthly unemployment rate has gone to 4.1% This represents an increase in the monthly unemployment rate of 36.7%. 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 February 2010 to before the disasterous Covid-19 virus Pandemic the monthly labor force participation went from 45,837 to 45,911 in February 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 43,317 This represents a decrease in the monthly labor force participation of 5.7%.

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 Soudan CDP depicts it has a Unemployment Rate of 4.0% which is the second most of all the places in the area. The place with the highest unemployment rate in the area is Aurora which depicts a rate of 4.8% (17.7% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Soudan CDP depicts it has a Labor Force Participation of 57.9% which is in the center range of other places in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Soudan CDP shows full time employees approximately 3.6 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 Soudan CDP area. Soudan CDP depicts it has a Single Earner Families of 34.5% which is the second most families with a single earner of all the places in the greater Soudan CDP region. The place with the highest families with a single earner in the area is Tower which depicts a single earners rate of 36.6% (only about 5.9% larger). The percentage of families with no one working is depicted in Figure 22. Soudan CDP shows it has a Families with No One Working of 13.1% which is the smallest as measured by families with no one working of all the other places in the greater region. The place with the highest families with no one working in the area is Aurora which depicts a families with no worker of 33.6% (approximately 2.6 times bigger).

Soudan CDP Minnesota Poverty Charts

The next section details economy analysis about poverty for residents of the Soudan 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. Soudan CDP depicts it has a Total In Poverty of 17 which is the smallest when sorted by total people earning less than the poverty level of all the other places in the surrounding region. The place with the highest total people earning less than the poverty level in the area is Aurora which depicts a total people earning less than the poverty level of 399 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Soudan CDP shows it has a Percent of Population In Poverty of 4.5% which is the smallest when sorted by percent of people earning less than the poverty level of all the other places in the local area. The place with the highest percent of people earning less than the poverty level in the area is Aurora which depicts a percent of people in poverty of 23.6% ( substantially bigger).

In Figure 25 people who are in poverty are broken out by age group. Soudan CDP has one of the largest proportions of person in poverty 12 to 17 years at 29% of the total and is ranked #2. The only larger place being Biwabik with 38%. Second, it has the smallest proportion of person in poverty 18 to 34 years at 12% of the total. Third, it has the largest proportion of person in poverty 35 to 54 years at 47% of the total and is ranked #1. Also, it has less than most other places in the local area in order of person in poverty 55 to 64 years at 12% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Soudan CDP has one of the largest proportions of black poverty rate at 50% of the total and is ranked #3. Only #2 Ely (71%), and #1 Aurora (100%) are larger.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Soudan CDP has the percentage of less than highschool in poverty the second smallest when sorted by less than highschool in poverty of all the other places in the greater region at 8% of the total. Second, it has the smallest proportion of highschool graduate and in poverty at 2% 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. Soudan CDP has one of the largest proportions of people who are in poverty and unemployed at 23.5% of the total and is ranked #2. The only larger place being Biwabik with 29.5%. 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.) Soudan CDP depicts it has a Public Assistance Percent of 4.5% which is the smallest as measured by households with public assistance of all the other places in the area. The place with the highest households with public assistance in the area is Aurora which shows a households with public assistance of 23.3% ( substantially bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Soudan CDP shows it has a Gini Index of 34.2% which is the smallest in order of the gini index of all the other places in the metro area.

Soudan CDP 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 Soudan CDP 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.) Soudan CDP has the smallest proportion of people who bicycle or walk to work at 2% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Soudan CDP or elsewhere.) Soudan CDP has the smallest proportion of people who work from home at 2% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Soudan CDP has one of the largest proportions of people who leave for work between 12am to 5am at 10% of the total and is ranked #3. Only #2 Hoyt Lakes (12%), and #1 Biwabik (13%) are larger. Second, it has the largest proportion of people who leave for work between 5am to 530am at 10% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 6am to 630am at 7% of the total. Also, it has the largest proportion of people who leave for work between 8am to 830am at 9% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 10am to 11am at 5% 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. Soudan CDP has one of the largest proportions of people with commute time of less than 5 minutesutes at 15% of the total and is ranked #3. Only #2 Aurora (15%), and #1 Ely (43%) are larger. Second, it has the second smallest when ranked by people with commute time of less than 5 minutes of all the other places in the greater region in terms of people with commute time between 5 to 9 minutes at 7% of the total. Third, it has the second smallest when sorted by people with commute time of less than 5 minutes of all the other places in the greater region in terms of 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 21% of the total and is ranked #1. In addition, it has the smallest proportion of people with commute time between 25 to 29 minutes at 4% of the total. Furthermore, it has the largest proportion of people with commute time between 30 to 34 minutes at 9% of the total and is ranked #1. Next it has the largest proportion of people with commute time between 35 to 39 minutes at 17% of the total and is ranked #1.

The average commute time is shown in Figure 37. Soudan CDP depicts it has a Avg Commute Time of 31 which is the second most average commute time of all the places in the greater Soudan CDP region. Figure 38 shows the difference between male versus female commuting time. Soudan CDP shows average commute time in minutes for men 64.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Soudan CDP has the smallest proportion of no vehicle available at 11% of the total. Second, it has the smallest proportion of 1 vehicle available at 30% of the total. Third, it has the largest proportion of 2 vehicles available at 44% of the total and is ranked #1. Also, it has one of the largest proportions of 4 vehicles available at 6% of the total and is ranked #2. The only larger place being Biwabik with 8%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Soudan CDP depicts it has a Work in city or place where live of 10% which is the second smallest when sorted by people who both work and live in the same city of all the other places in the local area. The place with the highest people who both work and live in the same city in the area is Ely which shows a people who both work and live in the same city of 71% ( quite a bit bigger). Comparing people who both work and live in the same city to the United States average of 42%, Soudan CDP is approximately a quarter the size. Also, benchmarked against the state of Minnesota, people who both work and live in the same city of 34%, Soudan CDP is approximately a third the size.

Soudan CDP 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. Soudan CDP depicts it has the hightest median earnings of $76,250 for the earnings-production, transportation, material moving occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Soudan CDP depicts it has the hightest median earnings of $56,250 for the management, business, and financial occupations aggregate. The table in Figure 48, shows Soudan CDP employment data in terms of job categories and salary data.

Soudan CDP 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. Soudan CDP depicts it has the hightest entrepreneurs of 100% for the self employed management, business, science, and arts businesses classification.

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. Soudan CDP depicts it has the hightest entrepreneurs of 50% for the self employed in construction aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. Soudan CDP depicts it has a Self Employment Income of $31,088 which is the most of all places in the greater Soudan CDP region. Comparing average annual self employment income to the United States average of $39,154, Soudan CDP is approximately three-fourths the size. Also, versus the state of Minnesota, average annual self employment income of $36,330, Soudan CDP is about 16.9% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Soudan CDP shows total number of self-employed men approximately 3.5 times bigger as the total number of self-employed women.