This section shows the Elko Nevada economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Elko depicts it has a Median earnings of $59,474 which is in the center range of other places in the metro area. The city with the highest median earnings per worker in the area is Osino CDP which shows a median earnings of $117,796 (about twice as large). Comparing median earnings per worker to the United States average of $53,269, Elko is 11.6% larger. Also, compared to the state of Nevada, median earnings per worker of $47,225, Elko is 25.9% 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 $80,148 which is the third most of all other places in the metro area. The city with the highest median household income in the area is Osino CDP which shows a median income of $112,222 (40.0% larger). Comparing median household income to the United States average of $69,021, Elko is 16.1% larger. Also, benchmarked against the state of Nevada, median household income of $65,686, Elko is 22.0% larger.
The next section examines a variety of different income statistics for the Elko metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings between $15,000 and $19,999 at 26.7% of the total and is ranked #2. The only larger city being Carlin with 41.2%. 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 $28.03 which is the third most average hourly earnings of all other places in the greater Elko region. The city with the highest average hourly earnings in the area is Crescent Valley CDP which shows an average hourly earnings of $39.37 (40.4% larger). Comparing average hourly earnings to the United States average of $26.40, Elko is 6.2% larger. Also, measured against the state of Nevada, average hourly earnings of $23.35, Elko is 20.1% larger.
Figure 5 examines the number of self employed people in the Elko metro area based on the number of people who reported any self employment income. Elko indicates it has a Self Employed of 8.8% which is in the mid point range of other places in the local area. The city with the highest percentage of people self employed in the area is Carlin which depicts a percentage self employed of 18.1% (about twice as large).
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 14.8% which is less than most other places in the local area. The city with the highest households with retirement income in the area is Crescent Valley CDP which shows a households with retirement income of 33.0% (approximately 2.2 times bigger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Elko depicts full time employees approximately 4.7 times bigger as the part time employees.
Similar to the last chart is Figure 9 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. Elko shows it has the hightest entrepreneurs of 40% for the self employed in professional, scientific, management, administrative services aggregate.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Elko depicts it has the hightest cost of 99.2 for the cost of transportation grouping.
Elko Nevada Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Elko depicts it has a Percent of Population In Poverty of 12.3% which is the second most percent of people earning less than the poverty level of all the places in the greater Elko region. The city with the highest percent of people earning less than the poverty level in the area is Wells which depicts a percent of people in poverty of 45.7% (approximately 3.7 times bigger).
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.) Elko depicts it has a Public Assistance Percent of 11.6% which is at the top of all other places in the greater region.
Elko Nevada Labor Force Charts
The table in Figure 13, shows Elko 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 4.0% to 2.9% in December 2019. This represents a decrease in the monthly unemployment rate of 27.5%. Since that time, the monthly unemployment rate has gone to 2.9%. This represents an increase in the monthly unemployment rate of very little.
Elko Nevada 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.
Elko Nevada Work Commute Charts
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. Elko indicates it has a Avg Commute Time of 28 which is the second most average commute time of all the places in the greater Elko 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.