This section shows the ZIP code 02892 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, 02892 shows it has a Median earnings of $66,341 which is in the intermediate range of other zip codes in the greater region. The zip code with the highest median earnings per worker in the area is 02812 which indicates a median earnings of $84,038 (26.7% larger). Comparing median earnings per worker to the United States average of $53,269, ZIP code 02892 is 24.5% larger. Also, versus the state of Rhode Island, median earnings per worker of $56,841, ZIP code 02892 is 16.7% 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 $118,542 which is the most of all zip codes in the greater ZIP code 02892 region. Comparing median household income to the United States average of $69,021, ZIP code 02892 is 71.7% larger. Also, compared with the state of Rhode Island, median household income of $74,489, ZIP code 02892 is 59.1% larger.
The next section examines a variety of different income statistics for the ZIP code 02892 metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings less than $10,000 at 1.4% of the total. Second, it has the largest proportion of earnings between $75,000 and $99,999 at 21.7% of the total and is ranked #1. 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 $32.97 which is less than most other zip codes in the local area. The zip code with the highest average hourly earnings in the area is 02812 which depicts an average hourly earnings of $41.87 (27.0% larger). Comparing average hourly earnings to the United States average of $26.40, ZIP code 02892 is 24.9% larger. Also, in contrast to the state of Rhode Island, average hourly earnings of $28.92, ZIP code 02892 is 14.0% larger.
Figure 5 examines the number of self employed people in the ZIP code 02892 metro area based on the number of people who reported any self employment income. 02892 shows it has a Self Employed of 10.5% which is the second smallest as measured by percentage of people self employed of all the other zip codes in the local area. The zip code with the highest percentage of people self employed in the area is 02875 which depicts a percentage self employed of 18.1% (73.0% larger).
Figure 6 breaks down the source of income and 02892 has the largest proportion of social security at 0.7% of the total and is ranked #1.
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 17.5% which is less than most other zip codes in the metro area. The zip code with the highest households with retirement income in the area is 02836 which depicts a households with retirement income of 37.7% (about twice as large).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. 02892 shows 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 02892 shows it has the hightest entrepreneurs of 37% for the self employed in construction 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. 02892 shows it has the hightest cost of 155.2 for the cost of housing group.
ZIP code 02892 Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. 02892 indicates it has a Percent of Population In Poverty of 2.0% which is less than most other zip codes in the local area. The zip code with the highest percent of people earning less than the poverty level in the area is 02881 which depicts a percent of people in poverty of 25.6% ( appreciably 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 02892 shows it has a Public Assistance Percent of 2.4% which is in the mid range of other zip codes in the metro area. The zip code with the highest households with public assistance in the area is 02836 which depicts a households with public assistance of 37.7% ( considerably bigger).
ZIP code 02892 Labor Force Charts
The table in Figure 13, shows ZIP code 02892 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 disasterous Covid-19 virus Pandemic it went from 3.9% to 2.2% in December 2019. This represents a decrease in the monthly unemployment rate of 43.6%. Since that time, the monthly unemployment rate has gone to 2.2%. This represents an increase in the monthly unemployment rate of very little.
ZIP code 02892 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 02892 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. ZIP code 02892 shows it has a Avg Commute Time of 32 which is the second most average commute time of all the zip codes in the greater ZIP code 02892 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.