Faulk County Income Charts

This section shows the Faulk County South Dakota economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Faulk County shows it has a Median earnings of $46,893 which is the third most median earnings of all other counties in the greater Faulk County region. The county with the highest median earnings per worker in the area is Hyde County which depicts a median earnings of $51,645 (10.1% larger). Comparing median earnings per worker to the United States average of $53,269, Faulk County is about 13.6% smaller. Also, benchmarked against the state of South Dakota, median earnings per worker of $46,456, Faulk County 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 $53,056 which is the second smallest in order of median household income of all the other counties in the surrounding region. The county with the highest median household income in the area is Edmunds County which depicts a median income of $69,732 (31.4% larger). Comparing median household income to the United States average of $69,021, Faulk County is approximately three-fourths the size. Also, benchmarked against the state of South Dakota, median household income of $63,920, Faulk County is about 20.5% smaller.

The next section examines a variety of different income statistics for the Faulk County metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 less than most other counties in the metro area at 5.0% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 44.1 which is the third most average hours of all other counties in the greater Faulk County region. The county with the highest average hours in the area is Hand County which depicts an average hours of 46.1 (only about 4.5% 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 $20.45 which is in the intermediate range of other counties in the local area. The county with the highest average hourly earnings in the area is Hyde County which depicts an average hourly earnings of $22.32 (9.1% larger). Comparing average hourly earnings to the United States average of $26.40, Faulk County is approximately three-fourths the size. Also, in contrast to the state of South Dakota, average hourly earnings of $22.56, Faulk County is about 10.3% smaller.

Figure 7 examines the number of self employed people in the Faulk County metro area based on the number of people who reported any self employment income. Faulk County shows it has a Self Employed of 35.3% which is the most of all counties in the greater Faulk County region.

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the intermediate range of other counties in the local area at $76,563 of the total. Second, it has the second smallest as measured by median income for those under 25 years of age of all the other counties in the local area in terms of median income-25 to 44 years at $65,625 of the total. Third, it has the second smallest when ranked by median income for those under 25 years of age of all the other counties in the surrounding region in order of median income-45 to 64 years at $42,045 of the total.

Figure 9 breaks down the source of income and Faulk County has the smallest proportion of social security at 0.2% 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 19.5% which is in the mid range of other counties in the local area. The county with the highest households with retirement income in the area is Walworth County which shows a households with retirement income of 23.8% (21.9% 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 the second smallest as measured by overall family income of all the other counties in the metro area at $79,500 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Faulk County shows it has the hightest cost of 105.9 for the cost of grocery items aggregate.

Faulk County 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 shows that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly unemployment rate went from 4.1% to 3.2% in February 2020. This represents a decrease in the monthly unemployment rate of 22.0%. Since that time, the monthly unemployment rate has gone to 2.6% This represents a decrease in the monthly unemployment rate of 18.7%. 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 February 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 1,144 to 1,032 in March 2020. This represents a decrease in the monthly labor force participation of 9.8%. Since that time, the monthly labor force participation has gone to 1,104 This represents an increase in the monthly labor force participation of 7.0%.

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 Faulk County depicts it has a Unemployment Rate of 1.9% which is the second most unemployment rate of all the counties in the greater Faulk County region. The county with the highest unemployment rate in the area is Walworth County which depicts a rate of 3.2% (68.4% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Faulk County depicts it has a Labor Force Participation of 61.0% which is less than most other counties in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Faulk County depicts full time employees approximately 4.5 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 Faulk County area. Faulk County shows it has a Single Earner Families of 24.2% which is in the middle range of other counties in the metropolitan area. The county with the highest families with a single earner in the area is Potter County which shows a single earners rate of 26.6% (10.1% larger). The percentage of families with no one working is depicted in Figure 22. Faulk County depicts it has a Families with No One Working of 17.1% which is the third most families with no one working of all other counties in the greater Faulk County region. The county with the highest families with no one working in the area is Walworth County which depicts a families with no worker of 21.6% (26.9% larger).

Faulk County Poverty Charts

The next section details economy analysis about poverty for residents of the Faulk 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. Faulk County shows it has a Total In Poverty of 438 which is the third most total people earning less than the poverty level of all other counties in the greater Faulk County region. The county with the highest total people earning less than the poverty level in the area is Walworth County which depicts a total people earning less than the poverty level of 776 (77.2% larger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Faulk County depicts it has a Percent of Population In Poverty of 20.8% which is the highest of all counties in the metro area.

In Figure 25 people who are in poverty are broken out by age group. Faulk County has the largest proportion of person in poverty under 12 years at 22% of the total and is ranked #1. Second, it has the second smallest in order of person in poverty under 12 years of all the other counties in the greater region when sorted by person in poverty 12 to 17 years at 11% of the total. Third, it has the largest proportion of person in poverty 18 to 34 years at 25% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Faulk County has the largest proportion of has some college and in poverty at 32% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Faulk County has the largest proportion of people who are in poverty and employed at 6.6% 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.) Faulk County depicts it has a Public Assistance Percent of 1.6% which is the smallest when ranked by households with public assistance of all the other counties in the area. The county with the highest households with public assistance in the area is Walworth County which depicts a households with public assistance of 11.6% ( quite a bit bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Faulk County depicts it has a Gini Index of 40.6% which is the second smallest in terms of the gini index of all the other counties in the area.

Faulk 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 Faulk 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.) Faulk County has the largest proportion of people who bicycle or walk to work at 16% 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 Faulk County or elsewhere.) Faulk County has the smallest proportion of people who drove alone at 68% of the total. Second, it has the largest proportion of people who took a taxicab, motorcycle or other at 2% of the total and is ranked #1. Third, it has the largest proportion of people who work from home at 16% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Faulk County has the smallest proportion of people who leave for work between 530 am to 6am at 2% of the total. Second, it has the largest proportion of people who leave for work between 6am to 630am at 13% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 7am to 730am at 15% of the total. Also, it has the largest proportion of people who leave for work between 730 am to 8am at 21% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 8am to 830am at 6% of the total and is ranked #1. Furthermore, it has the largest proportion of people who leave for work between 830 am to 9am at 9% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Faulk County 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 counties in the metro area at 21% of the total. Second, it has less than most other counties in the metropolitan area when sorted by people with commute time between 5 to 9 minutes at 10% of the total. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 12% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 45 to 59 minutes at 1% of the total.

The average commute time is shown in Figure 37. Faulk County shows it has a Avg Commute Time of 14 which is less than most other counties in the metropolitan area. Figure 38 shows the difference between male versus female commuting time. Faulk County shows average commute time in minutes for men 32.6% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Faulk County has the smallest proportion of 1 vehicle available at 26% of the total. Second, it has the largest proportion of 3 vehicles available at 18% of the total and is ranked #1. Third, it has the largest proportion of 4 vehicles available at 15% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Faulk County depicts it has a Work in city or place where live of 65% which is the second most people who both work and live in the same city of all the counties in the greater Faulk County region. The county with the highest people who both work and live in the same city in the area is Hyde County which shows a people who both work and live in the same city of 76% (16.4% larger). Comparing people who both work and live in the same city to the United States average of 44%, Faulk County is 48.7% larger. Also, in contrast to the state of South Dakota, people who both work and live in the same city of 68%, Faulk County is only about 3.7% smaller.

Faulk 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. Faulk County depicts it has the hightest median earnings of $60,625 for the earnings-education, legal, community service, arts, media occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Faulk County shows it has the hightest median earnings of $76,364 for the earnings-healthcare practitioners and tech occupations classification. The table in Figure 48, shows Faulk County employment data in terms of job categories and salary data.

Faulk 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. Faulk County shows it has the hightest entrepreneurs of 51% for the self employed management, business, science, and arts businesses aggregate.

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. Faulk County shows it has the hightest entrepreneurs of 55% for the self employed in agriculture, forestry, fishing and hunting, and mining classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Faulk County depicts it has a Self Employment Income of $32,163 which is the smallest in order of average annual self employment income of all the other counties in the metro area. The county with the highest average annual self employment income in the area is Edmunds County which shows an average annual self employment income of $70,659 (about twice as large). Comparing average annual self employment income to the United States average of $42,141, Faulk County is approximately three-fourths the size. Also, in comparison with the state of South Dakota, average annual self employment income of $40,950, Faulk County 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.) Faulk County shows total number of self-employed men approximately 3.9 times bigger as the total number of self-employed women.