Cape May County Income Charts

This section shows the Cape May County New Jersey economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Cape May County depicts it has a Median earnings of $59,516 which is the second most median earnings of all the counties in the greater Cape May County region. The county with the highest median earnings per worker in the area is Gloucester County which depicts a median earnings of $66,202 (11.2% larger). Comparing median earnings per worker to the United States average of $53,269, Cape May County is 11.7% larger. Also, versus the state of New Jersey, median earnings per worker of $66,099, Cape May County is about 11.1% smaller.

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 $76,237 which is the second most median income of all the counties in the greater Cape May County region. The county with the highest median household income in the area is Gloucester County which shows a median income of $93,208 (22.3% larger). Comparing median household income to the United States average of $69,021, Cape May County is 10.5% larger. Also, in comparison with the state of New Jersey, median household income of $89,703, Cape May County is about 17.7% smaller.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.0 which is less than most other counties in the metro area. The county with the highest average hours in the area is Kent County which depicts an average hours of 38.6 ( 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 $30.12 which is the second most average hourly earnings of all the counties in the greater Cape May County region. The county with the highest average hourly earnings in the area is Gloucester County which shows an average hourly earnings of $33.24 (10.4% larger). Comparing average hourly earnings to the United States average of $26.40, Cape May County is 14.1% larger. Also, versus the state of New Jersey, average hourly earnings of $33.02, Cape May County is about 9.6% smaller.

Figure 7 examines the number of self employed people in the Cape May County metro area based on the number of people who reported any self employment income. Cape May County depicts it has a Self Employed of 8.7% which is the third most people self employed of all other counties in the greater Cape May County region. The county with the highest percentage of people self employed in the area is Sussex County which depicts a percentage self employed of 9.6% (10.9% 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 $78,979 of the total and is ranked #2. The only larger county being Gloucester County with $108,101. Second, it has one of the largest proportions of median income-25 to 44 years at $90,432 of the total and is ranked #2. The only larger county being Gloucester County with $110,393. Third, it has one of the largest proportions of median income-45 to 64 years at $62,549 of the total and is ranked #2. The only larger county being Sussex County with $62,955.

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 33.9% which is the second most households with retirement income of all the counties in the greater Cape May County region. The county with the highest households with retirement income in the area is Sussex County which depicts a households with retirement income of 37.6% (11.0% 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 in the center range of other counties in the local area at $94,048 of the total. Second, it has the smallest proportion of white family income at $37,500 of the total. Third, it has the largest proportion of american indian family income at $151,161 of the total and is ranked #1. Also, it has one of the largest proportions of hawaiian family income at $64,624 of the total and is ranked #2. The only larger county being Gloucester County with $83,864.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Cape May County shows it has the hightest cost of 124.2 for the cost of housing group.

Cape May County 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 depicts that from February 2017 to before the disasterous Covid-19 virus Pandemic it went from 14.8% to 10.5% in December 2019. This represents a decrease in the monthly unemployment rate of 29.1%. Since that time, the monthly unemployment rate has gone to 10.5%. 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 depicts that from January 2017 to before the Coronavirus Pandemic it went from 40,109 to 43,106 in November 2019. This represents an increase in the monthly labor force participation of 7.5%. Since that time, the monthly labor force participation has gone to 43,106. 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 Cape May County depicts it has a Unemployment Rate of 3.9% which is in the center range of other counties in the metropolitan area. The county with the highest unemployment rate in the area is Atlantic County which shows a rate of 5.4% (39.8% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Cape May County shows it has a Labor Force Participation of 57.1% which is less than most other counties in the metro area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Cape May County 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 Cape May County area. Cape May County shows it has a Single Earner Families of 26.9% which is the second smallest in order of families with a single earner of all the other counties in the metro area. The county with the highest families with a single earner in the area is Cumberland County which shows a single earners rate of 31.8% (18.1% larger). The percentage of families with no one working is depicted in Figure 22. Cape May County depicts it has a Families with No One Working of 24.9% which is the second most families with no one working of all the counties in the greater Cape May County region. The county with the highest families with no one working in the area is Sussex County which depicts a families with no worker of 31.4% (26.2% larger).

Cape May County Poverty Charts

The next section details economy analysis about poverty for residents of the Cape May County 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. Cape May County shows it has a Total In Poverty of 8,730 which is the second smallest when sorted by total people earning less than the poverty level of all the other counties in the greater region. The county with the highest total people earning less than the poverty level in the area is Atlantic County which depicts a total people earning less than the poverty level of 37,537 (approximately 4.3 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Cape May County shows it has a Percent of Population In Poverty of 9.3% which is the second smallest as measured by percent of people earning less than the poverty level of all the other counties in the metro area. The county with the highest percent of people earning less than the poverty level in the area is Cumberland County which shows a percent of people in poverty of 15.7% (68.5% larger).

In Figure 25 people who are in poverty are broken out by age group. Cape May County has the smallest proportion of person in poverty 12 to 17 years at 18% of the total. Second, it has the largest proportion of person in poverty 18 to 34 years at 25% of the total and is ranked #1. Third, it has the largest proportion of person in poverty 35 to 54 years at 20% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Cape May County has the percentage of married with children and in poverty the second smallest in order of married with children and in poverty of all the other counties in the metro area at 27% of the total. Second, it has the second smallest in order of married with children and in poverty of all the other counties in the local area in terms of unmarried with children and in poverty at 32% of the total. Third, it has the second smallest when ranked by married with children and in poverty of all the other counties in the area in order of unmarried female with children and in poverty at 9% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Cape May County has the largest proportion of people who are in poverty and unemployed at 19.3% 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.) Cape May County shows it has a Public Assistance Percent of 7.7% which is the second smallest in order of households with public assistance of all the other counties in the metro area. The county with the highest households with public assistance in the area is Cumberland County which depicts a households with public assistance of 16.8% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Cape May County depicts it has a Gini Index of 47.5% which is the third most the gini index of all other counties in the greater Cape May County region.

Cape May County 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 Cape May County 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.) Cape May County 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 Cape May County or elsewhere.) Cape May County has the largest proportion of people who bike at 1% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Cape May County 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 3% 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 smallest proportion of people who leave for work between 630 am to 7am at 12% of the total. In addition, it has the largest proportion of people who leave for work between 7am to 730am at 14% of the total and is ranked #1. Furthermore, it has the largest proportion of people who leave for work between 730 am to 8am at 15% of the total and is ranked #1. Next it has the largest proportion of people who leave for work between 8am to 830am at 9% of the total and is ranked #1. Additionally, it has the largest proportion of people who leave for work between 830 am to 9am at 8% of the total and is ranked #1. And then, it has the smallest proportion of people who leave for work between 12noon to 4pm at 5% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Cape May County has one of the largest proportions of people with commute time of less than 5 minutesutes at 15% of the total and is ranked #2. The only larger county being Cumberland County with 15%. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 17% of the total and is ranked #2. The only larger county being Cumberland County with 17%. 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 20 to 24 minutes at 5% of the total. In addition, it has the smallest proportion of people with commute time between 30 to 34 minutes at 2% of the total. Furthermore, it has the smallest proportion of people with commute time between 40 to 44 minutes at 4% of the total. Next it has the smallest proportion of people with commute time between 45 to 59 minutes at 5% of the total.

The average commute time is shown in Figure 37. Cape May County shows it has a Avg Commute Time of 22 which is the smallest as measured by average commute time of all the other counties in the local area. Figure 38 shows the difference between male versus female commuting time. Cape May County depicts average commute time in minutes for men 23.2% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Cape May County has one of the largest proportions of no vehicle available at 20% of the total and is ranked #2. The only larger county being Atlantic County with 21%. Second, it has the largest proportion of 1 vehicle available at 45% of the total and is ranked #1. Third, it has the smallest proportion of 2 vehicles available at 21% of the total. Also, it has the smallest proportion of 3 vehicles available at 8% of the total. In addition, it has the smallest proportion of 4 vehicles available at 3% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Cape May County depicts it has a Work in city or place where live of 22% which is less than most other counties in the metropolitan area. The county with the highest people who both work and live in the same city in the area is Cumberland County which depicts a people who both work and live in the same city of 36% (65.7% larger). Comparing people who both work and live in the same city to the United States average of 44%, Cape May County is approximately half the size. Also, in contrast to the state of New Jersey, people who both work and live in the same city of 24%, Cape May County is about 11.4% smaller.

Cape May County 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. Cape May County shows it has the hightest median earnings of $93,435 for the management, business, and financial occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Cape May County shows it has the hightest median earnings of $82,917 for the earnings-healthcare practitioners and tech occupations category. The table in Figure 48, shows Cape May County employment data in terms of job categories and salary data.

Cape May County 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. Cape May County shows it has the hightest entrepreneurs of 48% for the self employed management, business, science, and arts 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. Cape May County shows it has the hightest entrepreneurs of 20% for the self employed in construction grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Cape May County depicts it has a Self Employment Income of $52,871 which is the highest of all counties in the greater Cape May County region. Comparing average annual self employment income to the United States average of $42,141, Cape May County is 25.5% larger. Also, measured against the state of New Jersey, average annual self employment income of $51,981, Cape May County is only slightly larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Cape May County shows total number of self-employed men approximately 2.5 times bigger as the total number of self-employed women.