This section shows the Walters Minnesota economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Walters shows it has a Median earnings of $31,875 which is the smallest as measured by median earnings per worker of all the other places in the metro area. The city with the highest median earnings per worker in the area is Conger which depicts a median earnings of $47,500 (49.0% larger). Comparing median earnings per worker to the United States average of $53,269, Walters is approximately three-fourths the size. Also, measured against the state of Minnesota, median earnings per worker of $57,586, Walters is approximately half 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 $30,833 which is the smallest in terms of median household income of all the other places in the local area. The city with the highest median household income in the area is Alden which depicts a median income of $64,375 (about twice as large). Comparing median household income to the United States average of $69,021, Walters is approximately half the size. Also, measured against the state of Minnesota, median household income of $77,706, Walters is approximately half the size.
The next section examines a variety of different income statistics for the Walters metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $10,000 and $14,999 at 25.0% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $15,000 and $19,999 at 32.1% of the total. 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 $15.60 which is the smallest when ranked by average hourly earnings of all the other places in the local area. The city with the highest average hourly earnings in the area is Alden which depicts an average hourly earnings of $22.13 (41.9% larger). Comparing average hourly earnings to the United States average of $26.40, Walters is approximately three-fourths the size. Also, compared to the state of Minnesota, average hourly earnings of $28.99, Walters is approximately half the size.
Figure 5 examines the number of self employed people in the Walters metro area based on the number of people who reported any self employment income. Walters shows it has a Self Employed of 7.1% 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 Kiester which shows a percentage self employed of 15.3% (about twice as large).
Figure 6 breaks down the source of income and Walters has the largest proportion of self employment income at 18.3% of the total and is ranked #1. Second, it has the largest proportion of investment and retirement income at 25.8% of the total and is ranked #1.
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 46.4% which is is the uppermost of the places in the metro area.
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Walters depicts full time employees approximately 2.3 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. Walters depicts it has the hightest cost of 105.6 for the cost of utilities aggregate.
Walters 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. Walters shows it has a Percent of Population In Poverty of 15.1% which is the third most percent of people earning less than the poverty level of all other places in the greater Walters region. The city with the highest percent of people earning less than the poverty level in the area is Kiester which depicts a percent of people in poverty of 32.0% (about twice as large).
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.) Walters depicts it has a Public Assistance Percent of 7.1% which is in the mid point range of other places in the greater region. The city with the highest households with public assistance in the area is Bricelyn which depicts a households with public assistance of 15.6% (about twice as large).
Walters Minnesota Labor Force Charts
The table in Figure 13, shows Walters 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 depicts that from February 2017 to before the Coronavirus Pandemic it went from 3.7% to 3.0% in December 2019. This represents a decrease in the monthly unemployment rate of 18.9%. Since that time, the monthly unemployment rate has gone to 3.0%. This represents an increase in the monthly unemployment rate of very little.
Walters 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.
Walters 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 Walters community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 17 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Walters has the largest proportion of people who take public transportation to work at 24% of the total and is ranked #1. Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Walters or elsewhere.) Walters has the largest proportion of people who walked at 24% 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. Walters shows it has a Avg Commute Time of 21 which is less than most other places in the greater 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.