This section shows the ZIP code 02894 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, 02894 depicts it has a Median earnings of $46,520 which is less than most other zip codes in the greater region. The zip code with the highest median earnings per worker in the area is 02812 which depicts a median earnings of $84,038 (about twice as large). Comparing median earnings per worker to the United States average of $53,269, ZIP code 02894 is about 14.5% smaller. Also, compared to the state of Rhode Island, median earnings per worker of $56,841, ZIP code 02894 is about 22.2% 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 $71,813 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 02812 which shows a median income of $111,279 (55.0% larger). Comparing median household income to the United States average of $69,021, ZIP code 02894 is only about 4.0% larger. Also, compared to the state of Rhode Island, median household income of $74,489, ZIP code 02894 is only about 3.7% smaller.
The next section examines a variety of different income statistics for the ZIP code 02894 metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 19.9% of the total and is ranked #2. The only larger zip code being 02836 with 33.3%. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 14.6% 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 $24.99 which is less than most other zip codes in the greater region. The zip code with the highest average hourly earnings in the area is 02812 which shows an average hourly earnings of $41.87 (67.5% larger). Comparing average hourly earnings to the United States average of $26.40, ZIP code 02894 is about 5.7% smaller. Also, compared to the state of Rhode Island, average hourly earnings of $28.92, ZIP code 02894 is about 15.7% smaller.
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 16.9% which is the second smallest when ranked by households with retirement income of all the other zip codes in the metropolitan 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% (approximately 2.2 times bigger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. 02894 depicts full time employees approximately 3.8 times bigger as the part time employees.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. 02894 shows it has the hightest cost of 129.0 for the cost of utilities aggregate.
ZIP code 02894 Poverty Charts
ZIP code 02894 Labor Force Charts
The table in Figure 13, shows ZIP code 02894 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 5.0% to 3.0% in December 2019. This represents a decrease in the monthly unemployment rate of 40.0%. Since that time, the monthly unemployment rate has gone to 3.0%. This represents an increase in the monthly unemployment rate of very little.
ZIP code 02894 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 02894 Work Commute Charts
Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown ZIP code 02894 or elsewhere.) ZIP code 02894 has the largest proportion of people who drove alone at 97% 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 02894 depicts it has a Avg Commute Time of 25 which is in the mid point range of other zip codes in the greater 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.