New Florence Missouri Income Charts

This section shows the New Florence Missouri economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, New Florence depicts it has a Median earnings of $35,313 which is in the mid range of other places in the metro area. The city with the highest median earnings per worker in the area is Jonesburg which indicates a median earnings of $38,869 (10.1% larger). Comparing median earnings per worker to the United States average of $49,041, New Florence is approximately three-fourths the size. Also, benchmarked against the state of Missouri, median earnings per worker of $44,279, New Florence 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 $40,500 which is in the mid range of other places in the surrounding region. The city with the highest median household income in the area is Big Spring CDP which shows a median income of $44,070 (8.8% larger). Comparing median household income to the United States average of $62,843, New Florence is approximately three-fourths the size. Also, in comparison with the state of Missouri, median household income of $55,461, New Florence is approximately three-fourths the size.

The next section examines a variety of different income statistics for the New Florence metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 10.8% of the total and is ranked #3. Only #2 McKittrick (18.2%), and #1 Big Spring CDP (55.6%) are larger. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 16.2% of the total and is ranked #1. Third, it has the smallest proportion of earnings between $15,000 and $19,999 at 26.8% of the total. Also, it has the largest proportion of earnings between $20,000 and $49,999 at 26.1% 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 42.2 which is the second most average hours of all the places in the greater New Florence region. The city with the highest average hours in the area is Big Spring CDP which depicts an average hours of 42.9 ( only slightly 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 $16.09 which is less than most other places in the local area. The city with the highest average hourly earnings in the area is McKittrick which shows an average hourly earnings of $20.29 (26.1% larger). Comparing average hourly earnings to the United States average of $24.31, New Florence is approximately three-fourths the size. Also, measured against the state of Missouri, average hourly earnings of $21.89, New Florence is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the New Florence metro area based on the number of people who reported any self employment income. New Florence shows it has a Self Employed of 16.2% which is the most of all places in the greater New Florence region.

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $52,885 of the total and is ranked #2. The only larger city being Bellflower with $63,750. Second, it has the second smallest in terms of median income for those under 25 years of age of all the other places in the local area in order of median income-25 to 44 years at $30,625 of the total.

Figure 9 breaks down the source of income and New Florence has the largest proportion of income from wages at 11.1% 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 13.9% which is the second smallest in terms of households with retirement income of all the other places in the local area. The city with the highest households with retirement income in the area is Jonesburg which depicts a households with retirement income of 23.6% (70.0% larger).

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 less than most other places in the metropolitan area at $46,125 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. New Florence depicts it has the hightest cost of 103.4 for the cost of miscellaneous items grouping.

New Florence Missouri 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 January 2006 to before the Wuhan Coronavirus Pandemic the monthly unemployment rate went from 4.7% to 4.4% in March 2020. This represents a decrease in the monthly unemployment rate of 6.4%. Since that time, the monthly unemployment rate has gone to 6.7% This represents an increase in the monthly unemployment rate of 52.3%. 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 shows that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly labor force participation went from 15,839 to 22,477 in February 2020. This represents an increase in the monthly labor force participation of 41.9%. Since that time, the monthly labor force participation has gone to 21,326 This represents a decrease in the monthly labor force participation of 5.1%.

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 New Florence depicts it has a Unemployment Rate of 1.8% which is less than most other places in the metropolitan area. The city with the highest unemployment rate in the area is McKittrick which depicts a rate of 8.5% (approximately 4.8 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. New Florence depicts it has a Labor Force Participation of 49.4% which is the second smallest when ranked by participation rate of all the other places in the 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). New Florence has one of the largest proportions of unemployed at 50.6% of the total and is ranked #2. The only larger city being Jonesburg with 52.2%.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. New Florence shows full time employees markedly 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 New Florence area. New Florence shows it has a Single Earner Families of 43.5% which is the second most families with a single earner of all the places in the greater New Florence region. The city with the highest families with a single earner in the area is McKittrick which depicts a single earners rate of 63.6% (46.1% larger). The percentage of families with no one working is depicted in Figure 22. New Florence depicts it has a Families with No One Working of 14.5% which is in the mid range of other places in the surrounding region. The city with the highest families with no one working in the area is Bellflower which shows a families with no worker of 26.2% (about twice as large).

New Florence Missouri Poverty Charts

The next section details economy analysis about poverty for residents of the New Florence 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. New Florence shows it has a Total In Poverty of 174 which is the third most total people earning less than the poverty level of all other places in the greater New Florence region. The city with the highest total people earning less than the poverty level in the area is Montgomery City which depicts a total people earning less than the poverty level of 450 (approximately 2.6 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. New Florence shows it has a Percent of Population In Poverty of 25.4% which is in the mid point range of other places in the greater region. The city with the highest percent of people earning less than the poverty level in the area is Big Spring CDP which depicts a percent of people in poverty of 81.9% (approximately 3.2 times bigger).

In Figure 25 people who are in poverty are broken out by age group. New Florence has the percentage of person in poverty under 12 years less than most other places in the local area at 7% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. New Florence has one of the largest proportions of white poverty rate at 40% of the total and is ranked #3. Only #2 Montgomery City (54%), and #1 Bellflower (100%) are larger. Second, it has one of the largest proportions of american indian poverty rate at 57% of the total and is ranked #2. The only larger city being Bellflower with 100%.

Figure 27 shows key poverty statistics for groups based on marriage status. New Florence has the percentage of married with children and in poverty less than most other places in the local area at 55% of the total. Second, it has less than most other places in the greater region when sorted by unmarried with children and in poverty at 70% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. New Florence has the percentage of less than highschool in poverty less than most other places in the area at 18% of the total. Second, it has one of the largest proportions of highschool graduate and in poverty at 28% of the total and is ranked #3. Only #2 Bellflower (33%), and #1 Big Spring CDP (65%) are larger. 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.) New Florence shows it has a Public Assistance Percent of 17.5% which is in the center range of other places in the greater region. The city with the highest households with public assistance in the area is Big Spring CDP which indicates a households with public assistance of 67.2% (approximately 3.8 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). New Florence depicts it has a Gini Index of 39.8% which is the third most the gini index of all other places in the greater New Florence region.

New Florence Missouri Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown New Florence or elsewhere.) New Florence has the percentage of people who drove alone the second smallest when ranked by people who drove alone of all the other places in the greater region at 78% of the total. Second, it has the largest proportion of people who carpooled at 14% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. New Florence has one of the largest proportions of people who leave for work between 12am to 5am at 13% of the total and is ranked #2. The only larger city being Bellflower with 15%. Second, it has the largest proportion of people who leave for work between 5am to 530am at 12% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 9am to 10am 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. New Florence has one of the largest proportions of people with commute time between 5 to 9 minutes at 20% of the total and is ranked #3. Only #2 McKittrick (29%), and #1 Big Spring CDP (43%) are larger. Second, it has the smallest proportion of people with commute time between 45 to 59 minutes at 4% of the total.

The average commute time is shown in Figure 37. New Florence depicts it has a Avg Commute Time of 24 which is the second smallest when sorted by average commute time of all the other places in the greater region. Figure 38 shows the difference between male versus female commuting time. New Florence depicts average commute time in minutes for men about twice as large as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and New Florence has the percentage of no vehicle available in the mid range of other places in the surrounding region at 19% of the total. Second, it has the largest proportion of 1 vehicle available at 44% of the total and is ranked #1. Third, it has less than most other places in the area in order of 3 vehicles available at 2% of the total. Also, it has the second smallest when sorted by no vehicle available of all the other places in the surrounding region when ranked by 4 vehicles available at 1% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) New Florence depicts it has a Work in city or place where live of 21% which is the third most people who both work and live in the same city of all other places in the greater New Florence region. The city with the highest people who both work and live in the same city in the area is Montgomery City which shows a people who both work and live in the same city of 39% (about twice as large). Comparing people who both work and live in the same city to the United States average of 42%, New Florence is approximately half the size. Also, benchmarked against the state of Missouri, people who both work and live in the same city of 40%, New Florence is approximately half the size.

New Florence Missouri 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. New Florence depicts it has the hightest median earnings of $60,417 for the management, business, and financial occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and New Florence shows it has the hightest median earnings of $31,250 for the earnings-healthcare practitioners and tech occupations group. The table in Figure 48, shows New Florence employment data in terms of job categories and salary data.

New Florence Missouri 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. New Florence depicts it has the hightest entrepreneurs of 50% for the self employed in natural resources, construction, and maintenance businesses grouping.

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. New Florence shows it has the hightest entrepreneurs of 50% for the self employed in construction classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. New Florence shows it has a Self Employment Income of $28,824 which is the second most average annual self employment income of all the places in the greater New Florence region. The city with the highest average annual self employment income in the area is Montgomery City which depicts an average annual self employment income of $38,061 (32.0% larger). Comparing average annual self employment income to the United States average of $39,154, New Florence is approximately three-fourths the size. Also, benchmarked against the state of Missouri, average annual self employment income of $33,069, New Florence is about 14.7% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) New Florence depicts total number of self-employed men approximately 3.9 times bigger as the total number of self-employed women.