Pascoag CDP Rhode Island Income Charts

This section shows the Pascoag CDP Rhode Island economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Pascoag CDP depicts it has a Median earnings of $52,659 which is in the mid range of other places in the local area. The place with the highest median earnings per worker in the area is Greenville CDP which depicts a median earnings of $61,532 (16.8% larger). Comparing median earnings per worker to the United States average of $49,041, Pascoag CDP is 7.4% larger. Also, versus the state of Rhode Island, median earnings per worker of $53,163, Pascoag CDP is about the same 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 $84,386 which is the third most median income of all other places in the greater Pascoag CDP region. The place with the highest median household income in the area is Harmony CDP which shows a median income of $91,181 (8.1% larger). Comparing median household income to the United States average of $62,843, Pascoag CDP is 34.3% larger. Also, measured against the state of Rhode Island, median household income of $67,167, Pascoag CDP is 25.6% larger.

The next section examines a variety of different income statistics for the Pascoag CDP metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 6.2% of the total and is ranked #2. The only larger place being Chepachet CDP with 6.9%. Second, it has one of the largest proportions of earnings between $10,000 and $14,999 at 3.7% of the total and is ranked #3. Only #2 Harmony CDP (8.5%), and #1 Harrisville CDP (16.7%) are larger. Third, it has the largest proportion of earnings between $15,000 and $19,999 at 35.3% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 39.5 which is the third most of all other places in the local area. The place with the highest average hours in the area is Harrisville CDP which shows an average hours of 40.8 (only about 3.3% 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 $25.64 which is in the center range of other places in the area. The place with the highest average hourly earnings in the area is Greenville CDP which depicts an average hourly earnings of $30.26 (18.0% larger). Comparing average hourly earnings to the United States average of $24.31, Pascoag CDP is only about 5.5% larger. Also, benchmarked against the state of Rhode Island, average hourly earnings of $27.05, Pascoag CDP is about 5.5% smaller.

Figure 7 examines the number of self employed people in the Pascoag CDP metro area based on the number of people who reported any self employment income. Pascoag CDP depicts it has a Self Employed of 7.1% which is in the middle range of other places in the surrounding region. The place with the highest percentage of people self employed in the area is Harmony CDP which shows a percentage self employed of 17.3% (approximately 2.4 times bigger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the mid point range of other places in the metropolitan area at $88,322 of the total. Second, it has in the mid range of other places in the greater region in terms of median income-25 to 44 years at $91,336 of the total. Third, it has in the center range of other places in the greater region when ranked by median income-45 to 64 years at $33,047 of the total.

Figure 9 breaks down the source of income and Pascoag CDP has the smallest proportion of investment and retirement income at 4.7% of the total.

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 12.3% which is the second smallest in terms of households with retirement income of all the other places in the local area. The place with the highest households with retirement income in the area is Harmony CDP which shows a households with retirement income of 31.7% (approximately 2.6 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 $99,524 of the total and is ranked #3. Only #2 Greenville CDP ($104,333), and #1 Harrisville CDP ($109,141) are larger.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Pascoag CDP shows it has the hightest cost of 129.0 for the cost of utilities group.

Pascoag CDP Rhode Island Labor Force Charts

The next two charts look at very recent, 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 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from January 2010 to before the disasterous COVID Pandemic the monthly unemployment rate went from 13.9% to 4.7% in March 2020. This represents a decrease in the monthly unemployment rate of 66.2%. Since that time, the monthly unemployment rate has gone to 4.9% This represents an increase in the monthly unemployment rate of 4.3%. 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. . It depicts that from January 2010 to before the disasterous COVID Pandemic the monthly labor force participation went from 9,172 to 9,307 in March 2020. This represents an increase in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 8,914 This represents a decrease in the monthly labor force participation of 4.2%.

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 Pascoag CDP depicts it has a Unemployment Rate of 4.8% which is the third most of all other places in the greater region. The place with the highest unemployment rate in the area is North Grosvenor Dale CDP which depicts a rate of 7.6% (58.8% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Pascoag CDP depicts it has a Labor Force Participation of 74.5% which is more than all other places in the metro area.

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). Pascoag CDP has the smallest proportion of unemployed at 25.5% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Pascoag CDP shows full time employees approximately 4.8 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 Pascoag CDP area. Pascoag CDP depicts it has a Single Earner Families of 12.8% which is the smallest when sorted by families with a single earner of all the other places in the surrounding region. The place with the highest families with a single earner in the area is East Douglas CDP which depicts a single earners rate of 48.3% (approximately 3.8 times bigger). The percentage of families with no one working is depicted in Figure 22. Pascoag CDP depicts it has a Families with No One Working of 8.3% which is the second smallest in terms of families with no one working of all the other places in the local area. The place with the highest families with no one working in the area is Harmony CDP which depicts a families with no worker of 22.2% (approximately 2.7 times bigger).

Pascoag CDP Rhode Island Poverty Charts

The next section details economy analysis about poverty for residents of the Pascoag CDP 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. Pascoag CDP shows it has a Total In Poverty of 481 which is the second most total people earning less than the poverty level of all the places in the greater Pascoag CDP region. The place with the highest total people earning less than the poverty level in the area is Harrisville CDP which depicts a total people earning less than the poverty level of 515 (7.1% larger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Pascoag CDP depicts it has a Percent of Population In Poverty of 11.0% which is in the middle range of other places in the local area. The place with the highest percent of people earning less than the poverty level in the area is Harrisville CDP which depicts a percent of people in poverty of 35.3% (approximately 3.2 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Pascoag CDP has the largest proportion of person in poverty under 12 years at 13% of the total and is ranked #1. Second, it has less than most other places in the local area in terms of person in poverty 12 to 17 years at 21% of the total. Third, it has one of the largest proportions of person in poverty 18 to 34 years at 30% of the total and is ranked #2. The only larger place being Harmony CDP with 35%.

Figure 27 shows key poverty statistics for groups based on marriage status. Pascoag CDP has one of the largest proportions of married with children and in poverty at 49% of the total and is ranked #3. Only #2 North Grosvenor Dale CDP (57%), and #1 Harrisville CDP (90%) are larger. Second, it has in the middle range of other places in the surrounding region as measured by unmarried with children and in poverty at 63% of the total. 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.) Pascoag CDP depicts it has a Public Assistance Percent of 18.2% which is the second most of all the places in the metro area. The place with the highest households with public assistance in the area is North Grosvenor Dale CDP which depicts a households with public assistance of 32.7% (79.6% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Pascoag CDP shows it has a Gini Index of 34.8% which is the second smallest in order of the gini index of all the other places in the local area.

Pascoag CDP Rhode Island Work Commute Charts

In Figure 35 is shown a frequency distribution of the time that people leave for work. Pascoag CDP has one of the largest proportions of people who leave for work between 12am to 5am at 7% of the total and is ranked #2. The only larger place being Greenville CDP with 8%.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Pascoag CDP has the percentage of people with commute time of less than 5 minutesutes the second smallest as measured by people with commute time of less than 5 minutes of all the other places in the local area at 4% of the total. Second, it has the second smallest in terms of people with commute time of less than 5 minutes of all the other places in the local area as measured by people with commute time between 5 to 9 minutes at 6% of the total. Third, it has the smallest proportion of people with commute time between 10 to 14 minutes at 2% of the total. Also, it has the largest proportion of people with commute time between 30 to 34 minutes at 10% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 35 to 39 minutes at 13% of the total and is ranked #1.

The average commute time is shown in Figure 37. Pascoag CDP depicts it has a Avg Commute Time of 38 which is the most of all places in the local area. Figure 38 shows the difference between male versus female commuting time. Pascoag CDP depicts average commute time in minutes for men 55.9% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Pascoag CDP has the smallest proportion of no vehicle available at 10% of the total. Second, it has the largest proportion of 1 vehicle available at 56% of the total and is ranked #1. Third, it has less than most other places in the metro area when ranked by 3 vehicles available at 7% of the total. Also, it has one of the largest proportions of 4 vehicles available at 4% of the total and is ranked #2. The only larger place being Chepachet CDP with 23%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Pascoag CDP shows it has a Work in city or place where live of 10% which is in the center range of other places in the area. The place with the highest people who both work and live in the same city in the area is Chepachet CDP which depicts a people who both work and live in the same city of 18% (about twice as large). Comparing people who both work and live in the same city to the United States average of 42%, Pascoag CDP is approximately a quarter the size. Also, in comparison with the state of Rhode Island, people who both work and live in the same city of 31%, Pascoag CDP is approximately a third the size.

Pascoag CDP Rhode Island 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. Pascoag CDP depicts it has the hightest median earnings of $95,066 for the management, business, and financial occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Pascoag CDP depicts it has the hightest median earnings of $87,109 for the earnings-computer, engineering, and science occupations category. The table in Figure 48, shows Pascoag CDP employment data in terms of job categories and salary data.

Pascoag CDP Rhode Island 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. Pascoag CDP shows it has the hightest entrepreneurs of 40% for the self employed in service businesses classification.

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. Pascoag CDP depicts 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. Pascoag CDP shows it has a Self Employment Income of $29,491 which is in the center range of other places in the local area. The place with the highest average annual self employment income in the area is East Douglas CDP which depicts an average annual self employment income of $57,176 (about twice as large). Comparing average annual self employment income to the United States average of $39,154, Pascoag CDP is approximately three-fourths the size. Also, benchmarked against the state of Rhode Island, average annual self employment income of $42,352, Pascoag CDP is approximately three-fourths the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Pascoag CDP depicts total number of self-employed men approximately 2.9 times bigger as the total number of self-employed women.