The State of Montana Income Charts

This section shows the Montana economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Montana depicts it has a Median earnings of $46,578 which is the second smallest in order of median earnings per worker of all the other states in the local area. The state with the highest median earnings per worker in the group is Colorado which depicts a median earnings of $57,852 (24.2% larger).

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 $60,560 which is the smallest when ranked by median household income of all the other states in the surrounding region. The state with the highest median household income in the group is Colorado which shows a median income of $80,184 (32.4% larger).

The next section examines a variety of different income statistics for the Montana metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $75,000 and $99,999 at 8.3% 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 38.2 which is the second smallest as measured by average hours of all the other states in the metropolitan area. The state with the highest average hours in the group is Wyoming which shows an average hours of 39.9 (only about 4.5% 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 $23.45 which is less than most other states in the surrounding region. The state with the highest average hourly earnings in the group is Colorado which shows an average hourly earnings of $28.53 (21.7% larger).

Figure 7 examines the number of self employed people in the Montana metro area based on the number of people who reported any self employment income. Montana indicates it has a Self Employed of 15.5% which is the highest of all states in the greater Montana region.

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years the second smallest as measured by median income for those under 25 years of age of all the other states in the surrounding region at $69,192 of the total. Second, it has the smallest as measured by median income for those under 25 years of age of all the other states in the metropolitan area in order of median income-25 to 44 years at $71,064 of the total. Third, it has the smallest in order of median income for those under 25 years of age of all the other states in the area in order of median income-45 to 64 years at $47,015 of the total.

Figure 9 breaks down the source of income and Montana has the largest proportion of income from wages at 7.3% 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 22.6% which is less than most other states in the metro area. The state with the highest households with retirement income in the group is Arizona which shows a households with retirement income of 24.0% (6.2% 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 the second smallest as measured by overall family income of all the other states in the local area at $79,375 of the total. Second, it has less than most other states in the local area in terms of white family income at $56,146 of the total. Third, it has the smallest proportion of black family income at $43,151 of the total. Also, it has less than most other states in the local area in order of american indian family income at $89,038 of the total. In addition, it has the smallest proportion of asian family income at $38,281 of the total. Furthermore, it has less than most other states in the metropolitan area in terms of hawaiian family income at $62,188 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. Montana shows it has the hightest cost of 107.3 for the cost of grocery items aggregate.

The State of Montana 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 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 8.4% to 5.0% in March 2020. This represents a decrease in the monthly unemployment rate of 40.5%. Since that time, the monthly unemployment rate has gone to 2.3% This represents a decrease in the monthly unemployment rate of 54.0%. 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 Pandemic the monthly labor force participation went from 495,066 to 545,426 in January 2020. This represents an increase in the monthly labor force participation of 10.2%. Since that time, the monthly labor force participation has gone to 567,971 This represents an increase in the monthly labor force participation of 4.1%.

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 Montana depicts it has a Unemployment Rate of 2.6% which is the second smallest in terms of unemployment rate of all the other states in the greater region. The state with the highest unemployment rate in the group is Nevada which depicts a rate of 4.5% (75.4% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of depicts it has a Labor Force Participation of 63.3% which is less than most other states in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Montana depicts full time employees approximately 3.0 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 Montana area. Montana depicts it has a Single Earner Families of 25.0% which is in the center range of other states in the greater region. The state with the highest families with a single earner in the group is New Mexico which depicts a single earners rate of 31.6% (26.2% larger). The percentage of families with no one working is depicted in Figure 22. Montana shows it has a Families with No One Working of 19.0% which is in the middle range of other states in the metro area. The state with the highest families with no one working in the group is New Mexico which shows a families with no worker of 22.9% (20.5% larger).

The State of Montana Poverty Charts

The next section details economy analysis about poverty for residents of the Montana 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. Montana depicts it has a Total In Poverty of 131,512 which is the smallest in terms of total people earning less than the poverty level of all the other states in the metro area. The state with the highest total people earning less than the poverty level in the group is Arizona which shows a total people earning less than the poverty level of 934,911 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Montana shows it has a Percent of Population In Poverty of 12.5% which is in the mid point range of other states in the greater region. The state with the highest percent of people earning less than the poverty level in the group is New Mexico which shows a percent of people in poverty of 18.3% (46.8% larger).

In Figure 25 people who are in poverty are broken out by age group. Montana has the smallest proportion of person in poverty under 12 years at 8% of the total. Second, it has the largest proportion of person in poverty 55 to 64 years at 13% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Montana has the smallest proportion of white poverty rate at 16% of the total. Second, it has the largest proportion of black poverty rate at 35% of the total and is ranked #1. Third, it has the smallest proportion of asian poverty rate at 7% 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.) the state of depicts it has a Public Assistance Percent of 10.0% which is in the mid range of other states in the metropolitan area. The state with the highest households with public assistance in the group is New Mexico which depicts a households with public assistance of 18.5% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of depicts it has a Gini Index of 46.2% which is the third most the gini index of all other states in the greater Montana region.

The State of Montana 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 Montana 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.) Montana has the largest proportion of people who take public transportation to work at 5% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Montana or elsewhere.) Montana has the smallest proportion of people who take a Subway or elevated rail at 0% of the total. Second, it has the smallest proportion of people who take Light rail, streetcar or trolley at 0% of the total. Third, it has the largest proportion of people who take the ferry at 0% of the total and is ranked #1. Also, it has the largest proportion of people who bike at 1% of the total and is ranked #1. In addition, it has the largest proportion of people who walked at 4% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Montana has the smallest proportion of people who leave for work between 12am to 5am at 2% of the total. Second, it has the smallest proportion of people who leave for work between 5am to 530am at 4% of the total. Third, it has the smallest proportion of people who leave for work between 530 am to 6am at 7% of the total. Also, it has the largest proportion of people who leave for work between 7am to 730am at 19% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 730 am to 8am at 12% 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. Montana has one of the largest proportions of people with commute time of less than 5 minutesutes at 19% of the total and is ranked #2. The only larger state being Wyoming with 24%. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 20% of the total and is ranked #2. The only larger state being Wyoming with 23%. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 19% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 35 to 39 minutes at 1% of the total. In addition, it has the smallest proportion of people with commute time between 40 to 44 minutes at 3% of the total. Furthermore, it has the smallest proportion of people with commute time between 45 to 59 minutes at 3% of the total.

The average commute time is shown in Figure 37. the state of depicts it has a Avg Commute Time of 19 which is the smallest when ranked by average commute time of all the other states in the local area. Figure 38 shows the difference between male versus female commuting time. Montana depicts average commute time in minutes for men 37.1% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Montana has the percentage of no vehicle available less than most other states in the metropolitan area at 16% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of depicts it has a Work in city or place where live of 64% which is the second most of all the states in the area. The state with the highest people who both work and live in the same city in the group is Wyoming which depicts a people who both work and live in the same city of 64% ( about the same size).

The State of Montana 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. the state of depicts it has the hightest median earnings of $91,380 for the earnings-healthcare practitioners and tech occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of depicts it has the hightest median earnings of $60,296 for the earnings-healthcare practitioners and tech occupations category. The table in Figure 48, shows Montana employment data in terms of job categories and salary data.

The State of Montana 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. the state of shows it has the hightest entrepreneurs of 50% for the self employed management, business, science, and arts businesses category.

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. the state of shows it has the hightest entrepreneurs of 21% for the self employed in construction classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of shows it has a Self Employment Income of $38,700 which is the second smallest as measured by average annual self employment income of all the other states in the local area. The state with the highest average annual self employment income in the group is Nevada which depicts an average annual self employment income of $46,850 (21.1% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Montana shows total number of self-employed men 67.9% larger as the total number of self-employed women.