This section shows the ZIP code 02860 Rhode Island economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, 02860 depicts it has a Median earnings of $42,647 which is less than most other zip codes in the local area. The zip code with the highest median earnings per worker in the area is 02906 which depicts a median earnings of $76,410 (79.2% larger). Comparing median earnings per worker to the United States average of $53,269, ZIP code 02860 is about 24.9% smaller. Also, compared with the state of Rhode Island, median earnings per worker of $56,841, ZIP code 02860 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 $49,357 which is less than most other zip codes in the surrounding region. The zip code with the highest median household income in the area is 02906 which depicts a median income of $93,341 (about twice as large). Comparing median household income to the United States average of $69,021, ZIP code 02860 is approximately three-fourths the size. Also, compared to the state of Rhode Island, median household income of $74,489, ZIP code 02860 is approximately three-fourths the size.
The next section examines a variety of different income statistics for the ZIP code 02860 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 40.2% of the total and is ranked #2. The only larger zip code being 02863 with 46.3%. 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 $21.53 which is less than most other zip codes in the area. The zip code with the highest average hourly earnings in the area is 02906 which indicates an average hourly earnings of $37.87 (75.9% larger). Comparing average hourly earnings to the United States average of $26.40, ZIP code 02860 is about 22.7% smaller. Also, measured against the state of Rhode Island, average hourly earnings of $28.92, ZIP code 02860 is approximately three-fourths the size.
Figure 5 examines the number of self employed people in the ZIP code 02860 metro area based on the number of people who reported any self employment income. 02860 shows it has a Self Employed of 5.7% which is less than most other zip codes in the metro area. The zip code with the highest percentage of people self employed in the area is 02906 which shows a percentage self employed of 13.8% (approximately 2.4 times bigger).
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 11.8% which is less than most other zip codes in the greater region. The zip code with the highest households with retirement income in the area is 02916 which indicates a households with retirement income of 23.2% (about twice as large).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. 02860 depicts full time employees approximately 3.7 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. ZIP code 02860 shows it has the hightest entrepreneurs of 32% for the self employed in arts, entertainment, recreation, accommodation and food services category.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. 02860 shows it has the hightest cost of 129.0 for the cost of utilities category.
ZIP code 02860 Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. 02860 shows it has a Percent of Population In Poverty of 18.1% which is the third most percent of people earning less than the poverty level of all other zip codes in the greater ZIP code 02860 region. The zip code with the highest percent of people earning less than the poverty level in the area is 02912 which depicts a percent of people in poverty of 100.0% ( markedly 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.) ZIP code 02860 depicts it has a Public Assistance Percent of 28.3% which is the second most of all the zip codes in the metropolitan area. The zip code with the highest households with public assistance in the area is 02863 which shows a households with public assistance of 34.9% (23.6% larger).
ZIP code 02860 Labor Force Charts
The table in Figure 13, shows ZIP code 02860 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 shows that from February 2017 to before the Coronavirus Pandemic it went from 5.6% to 3.7% in December 2019. This represents a decrease in the monthly unemployment rate of 33.9%. Since that time, the monthly unemployment rate has gone to 3.7%. This represents an increase in the monthly unemployment rate of very little.
ZIP code 02860 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.
ZIP code 02860 Work Commute Charts
Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown ZIP code 02860 or elsewhere.) ZIP code 02860 has the largest proportion of people who take Light rail, streetcar or trolley at 0% of the total and is ranked #1.
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. ZIP code 02860 shows it has a Avg Commute Time of 25 which is the third most average commute time of all other zip codes in the greater ZIP code 02860 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.