Silver Peak CCD Nevada Income Charts

This section shows the Silver Peak CCD Nevada economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Silver Peak CCD depicts it has a Median earnings of $53,558 which is less than most other places in the metro area. The place with the highest median earnings per worker in the area is Benton CDP which depicts a median earnings of $88,029 (64.4% larger). Comparing median earnings per worker to the United States average of $53,269, Silver Peak CCD is about the same size. Also, measured against the state of Nevada, median earnings per worker of $47,225, Silver Peak CCD is 13.4% 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 $47,917 which is the third most median income of all other places in the greater Silver Peak CCD region. The place with the highest median household income in the area is Silver Peak CDP which shows a median income of $75,250 (57.0% larger). Comparing median household income to the United States average of $69,021, Silver Peak CCD is approximately three-fourths the size. Also, benchmarked against the state of Nevada, median household income of $65,686, Silver Peak CCD is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Silver Peak CCD metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 30.4% of the total and is ranked #2. The only larger place being Silver Peak CDP with 52.4%.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 37.7 which is less than most other places in the metropolitan area. The place with the highest average hours in the area is Dyer CDP which depicts an average hours of 44.6 (18.3% 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 $27.32 which is in the middle range of other places in the greater region. The place with the highest average hourly earnings in the area is Benton CDP which shows an average hourly earnings of $43.63 (59.7% larger). Comparing average hourly earnings to the United States average of $26.40, Silver Peak CCD is only about 3.5% larger. Also, in comparison with the state of Nevada, average hourly earnings of $23.35, Silver Peak CCD is 17.0% larger.

Figure 7 examines the number of self employed people in the Silver Peak CCD metro area based on the number of people who reported any self employment income. Silver Peak CCD depicts it has a Self Employed of 16.1% which is in the mid range of other places in the greater region. The place with the highest percentage of people self employed in the area is Benton CDP which shows a percentage self employed of 18.8% (16.5% larger).

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 $64,250 of the total and is ranked #3. Only #2 Silver Peak CDP ($65,417), and #1 Tonopah CDP ($85,773) are larger. Second, it has one of the largest proportions of median income-45 to 64 years at $32,054 of the total and is ranked #3. Only #2 Mina CDP ($37,917), and #1 Goldfield CDP ($44,688) are larger.

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 19.7% which is in the center range of other places in the greater region. The place with the highest households with retirement income in the area is Benton CDP which indicates a households with retirement income of 72.3% (approximately 3.7 times bigger).

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 $75,500 of the total and is ranked #3. Only #2 Silver Peak CDP ($95,341), and #1 Goldfield CDP ($117,708) are larger. Second, it has one of the largest proportions of hawaiian family income at $44,063 of the total and is ranked #2. The only larger place being Dyer CDP with $65,714.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Silver Peak CCD shows it has the hightest cost of 109.9 for the cost of healthcare classification.

Silver Peak CCD Nevada Labor Force Charts

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 indicates that from February 2017 to before the COVID-19 Pandemic it went from 4.6% to 3.0% in December 2019. This represents a decrease in the monthly unemployment rate of 34.8%. Since that time, the monthly unemployment rate has gone to 3.0%. This represents an increase in the monthly unemployment rate of very little. 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. The monthly labor force participation shows that from January 2017 to before the COVID-19 Pandemic it went from 51,860 to 54,444 in November 2019. This represents an increase in the monthly labor force participation of 5.0%. Since that time, the monthly labor force participation has gone to 54,444. This represents an increase in the monthly labor force participation of very little.

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 Silver Peak CCD depicts it has a Unemployment Rate of 2.7% which is the second most of all the places in the surrounding region. The place with the highest unemployment rate in the area is Goldfield CDP which depicts a rate of 2.7% ( only slightly larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Silver Peak CCD depicts it has a Labor Force Participation of 58.2% which is the second most participation rates of all the places in the greater Silver Peak CCD region.

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). Silver Peak CCD has the percentage of unemployed the second smallest in terms of employed of all the other places in the local area at 41.8% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Silver Peak CCD depicts full time employees 42.4% larger 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 Silver Peak CCD area. Silver Peak CCD shows it has a Single Earner Families of 34.9% which is the third most families with a single earner of all other places in the greater Silver Peak CCD region. The place with the highest families with a single earner in the area is Silver Peak CDP which indicates a single earners rate of 100.0% (approximately 2.9 times bigger). The percentage of families with no one working is depicted in Figure 22. Silver Peak CCD shows it has a Families with No One Working of 21.1% which is in the middle range of other places in the local area. The place with the highest families with no one working in the area is Tonopah CDP which depicts a families with no worker of 71.5% (approximately 3.4 times bigger).

Silver Peak CCD Nevada Poverty Charts

The next section details economy analysis about poverty for residents of the Silver Peak CCD 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. Silver Peak CCD depicts it has a Total In Poverty of 14 which is in the middle range of other places in the surrounding region. The place with the highest total people earning less than the poverty level in the area is Tonopah CDP which depicts a total people earning less than the poverty level of 339 ( appreciably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Silver Peak CCD shows it has a Percent of Population In Poverty of 2.3% which is the second smallest in order of 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 Tonopah CDP which shows a percent of people in poverty of 19.2% ( very much bigger).

In Figure 25 people who are in poverty are broken out by age group. Silver Peak CCD has one of the largest proportions of person in poverty 35 to 54 years at 29% of the total and is ranked #2. The only larger place being Goldfield CDP with 63%. Second, it has less than most other places in the area when ranked by person in poverty 55 to 64 years at 21% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Silver Peak CCD has the largest proportion of married with children and in poverty at 100% of the total and is ranked #1. Second, it has the largest proportion of unmarried with children and in poverty at 100% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Silver Peak CCD has the largest proportion of people who are in poverty and unemployed at 50.0% of the total and is ranked #1. 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.) Silver Peak CCD depicts it has a Public Assistance Percent of 1.3% which is the second smallest when sorted by households with public assistance of all the other places in the local area. The place with the highest households with public assistance in the area is Benton CDP which indicates a households with public assistance of 15.8% ( very much bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Silver Peak CCD depicts it has a Gini Index of 37.2% which is less than most other places in the greater region.

Silver Peak CCD Nevada Work Commute Charts

In Figure 35 is shown a frequency distribution of the time that people leave for work. Silver Peak CCD has one of the largest proportions of people who leave for work between 7am to 730am at 40% of the total and is ranked #3. Only #2 Dyer CDP (42%), and #1 Silver Peak CDP (51%) are larger.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Silver Peak CCD has the percentage of people with commute time of less than 5 minutesutes in the middle range of other places in the local area at 19% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 31% of the total and is ranked #2. The only larger place being Silver Peak CDP with 51%.

The average commute time is shown in Figure 37. Silver Peak CCD shows it has a Avg Commute Time of 12 which is in the center range of other places in the area. Figure 38 shows the difference between male versus female commuting time. Silver Peak CCD shows average commute time in minutes for men 65.0% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Silver Peak CCD has one of the largest proportions of no vehicle available at 48% of the total and is ranked #2. The only larger place being Silver Peak CDP with 66%. Second, it has one of the largest proportions of 1 vehicle available at 32% of the total and is ranked #2. The only larger place being Mina CDP with 35%. Third, it has less than most other places in the local area when ranked by 2 vehicles available at 12% of the total. Also, it has in the mid point range of other places in the local area when ranked by 3 vehicles available at 6% of the total. In addition, it has the largest proportion of 4 vehicles available at 2% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Silver Peak CCD shows it has a Work in city or place where live of 39% which is in the mid point range of 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 Goldfield CDP which shows a people who both work and live in the same city of 81% (about twice as large). Comparing people who both work and live in the same city to the United States average of 44%, Silver Peak CCD is about 12.9% smaller. Also, compared to the state of Nevada, people who both work and live in the same city of 38%, Silver Peak CCD is only slightly larger.

Silver Peak CCD Nevada 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. Silver Peak CCD depicts it has the hightest median earnings of $71,250 for the management, business, and financial occupations grouping. The table in Figure 48, shows Silver Peak CCD employment data in terms of job categories and salary data.

Silver Peak CCD Nevada 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. Silver Peak CCD depicts it has the hightest entrepreneurs of 70% 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. Silver Peak CCD depicts it has the hightest entrepreneurs of 30% for the self employed in finance, insurance, real estate, rental and leasing category.

In Figure 51 the average annual self employment/entrepreneur income is shown. Silver Peak CCD indicates it has a Self Employment Income of $22,078 which is the second most average annual self employment income of all the places in the greater Silver Peak CCD region. The place with the highest average annual self employment income in the area is Dyer CDP which shows an average annual self employment income of $22,350 ( only slightly larger). Comparing average annual self employment income to the United States average of $42,141, Silver Peak CCD is approximately half the size. Also, measured against the state of Nevada, average annual self employment income of $46,850, Silver Peak CCD is approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Silver Peak CCD depicts total number of self-employed men approximately a third the size as the total number of self-employed women.