Lake County Income Charts

This section shows the Lake 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, Lake County shows it has a Median earnings of $44,960 which is in the mid range of other counties in the metropolitan area. The county with the highest median earnings per worker in the area is Minnehaha County which depicts a median earnings of $47,799 (6.3% larger). Comparing median earnings per worker to the United States average of $53,269, Lake County is about 18.5% smaller. Also, benchmarked against the state of South Dakota, median earnings per worker of $46,456, Lake County is only about 3.3% 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 $67,297 which is the second most of all the counties in the local area. The county with the highest median household income in the area is McCook County which depicts a median income of $72,063 (7.1% larger). Comparing median household income to the United States average of $69,021, Lake County is only about 2.6% smaller. Also, in comparison with the state of South Dakota, median household income of $63,920, Lake County is only about 5.3% larger.

The next section examines a variety of different income statistics for the Lake County metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $10,000 and $14,999 at 3.2% of the total. Second, it has the smallest proportion of earnings between $20,000 and $49,999 at 19.7% of the total. Third, it has the largest proportion of earnings between $75,000 and $99,999 at 7.9% 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 less than most other counties in the metro area. The county with the highest average hours in the area is Miner County which depicts an average hours of 43.1 (9.1% 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 $21.89 which is the third most of all other counties in the metropolitan area. The county with the highest average hourly earnings in the area is Minnehaha County which depicts an average hourly earnings of $23.51 (7.4% larger). Comparing average hourly earnings to the United States average of $26.40, Lake County is about 20.6% smaller. Also, in contrast to the state of South Dakota, average hourly earnings of $22.56, Lake County is only about 3.1% smaller.

Figure 7 examines the number of self employed people in the Lake County metro area based on the number of people who reported any self employment income. Lake County depicts it has a Self Employed of 19.2% which is less than most other counties in the local area. The county with the highest percentage of people self employed in the area is McCook County which depicts a percentage self employed of 31.8% (65.0% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years less than most other counties in the greater region at $70,605 of the total. Second, it has the largest proportion of median income-25 to 44 years at $89,950 of the total and is ranked #1. Third, it has the second smallest in terms of median income for those under 25 years of age of all the other counties in the local area as measured by median income-45 to 64 years at $47,580 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 20.6% which is the highest of all counties in the greater Lake County region.

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 less than most other counties in the local area at $82,517 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. Lake County depicts it has the hightest cost of 102.2 for the cost of healthcare group.

Lake County Labor Force Charts

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 depicts that from February 2017 to before the disasterous Covid-19 virus Pandemic it went from 4.4% to 3.6% in December 2019. This represents a decrease in the monthly unemployment rate of 18.2%. Since that time, the monthly unemployment rate has gone to 3.6%. This represents an increase in the monthly unemployment rate of very little. 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. The monthly labor force participation depicts that from January 2017 to before the Coronavirus Pandemic it went from 6,336 to 6,782 in November 2019. This represents an increase in the monthly labor force participation of 7.0%. Since that time, the monthly labor force participation has gone to 6,782. This represents an increase in the monthly labor force participation of very little.

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 Lake County depicts it has a Unemployment Rate of 1.6% which is in the mid point range of other counties in the surrounding region. The county with the highest unemployment rate in the area is Brookings County which depicts a rate of 2.9% (79.7% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake County depicts it has a Labor Force Participation of 68.1% which is in the mid range of other counties in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake County depicts full time employees approximately 3.1 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 Lake County area. Lake County depicts it has a Single Earner Families of 21.0% which is the third most families with a single earner of all other counties in the greater Lake County region. The county with the highest families with a single earner in the area is Kingsbury County which depicts a single earners rate of 26.2% (24.8% larger). The percentage of families with no one working is depicted in Figure 22. Lake County shows it has a Families with No One Working of 16.1% which is more than all other counties in the greater Lake County region.

Lake County Poverty Charts

The next section details economy analysis about poverty for residents of the Lake 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. Lake County depicts it has a Total In Poverty of 1,233 which is the third most total people earning less than the poverty level of all other counties in the greater Lake County region. The county with the highest total people earning less than the poverty level in the area is Minnehaha County which depicts a total people earning less than the poverty level of 16,731 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake County indicates it has a Percent of Population In Poverty of 11.4% which is the second most percent of people earning less than the poverty level of all the counties in the greater Lake County region. The county with the highest percent of people earning less than the poverty level in the area is Brookings County which depicts a percent of people in poverty of 12.1% (6.2% larger).

In Figure 25 people who are in poverty are broken out by age group. Lake County has one of the largest proportions of person in poverty 12 to 17 years at 41% of the total and is ranked #2. The only larger county being Brookings County with 66%. Second, it has the second smallest in terms of person in poverty under 12 years of all the other counties in the local area in order of person in poverty 55 to 64 years at 9% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake County has the percentage of black poverty rate in the middle range of other counties in the metropolitan area at 4% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake County has the smallest proportion of unmarried with children and in poverty at 8% of the total. Second, it has one of the largest proportions of unmarried female with children and in poverty at 44% of the total and is ranked #2. The only larger county being Miner County with 56%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Lake County has the largest proportion of less than highschool in poverty at 14% 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. Lake County has the smallest proportion of people who are in poverty and unemployed at 3.8% 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.) Lake County depicts it has a Public Assistance Percent of 4.6% which is the second smallest when ranked by households with public assistance of all the other counties in the surrounding region. The county with the highest households with public assistance in the area is Minnehaha County which depicts a households with public assistance of 10.2% (approximately 2.2 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake County depicts it has a Gini Index of 45.0% which is is the uppermost of the counties in the greater Lake County region.

Lake County Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lake County or elsewhere.) Lake County has the smallest proportion of people who carpooled at 6% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Lake County has the percentage of people who leave for work between 12am to 5am in the center range of other counties in the greater region at 4% of the total. Second, it has the largest proportion of people who leave for work between 5am to 530am at 7% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 10am to 11am at 2% 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. Lake County has the largest proportion of people with commute time of less than 5 minutesutes at 33% of the total and is ranked #1. Second, it has the second smallest when sorted by people with commute time of less than 5 minutes of all the other counties in the metro area when ranked by people with commute time between 10 to 14 minutes at 7% of the total.

The average commute time is shown in Figure 37. Lake County depicts it has a Avg Commute Time of 17 which is the second smallest when ranked by average commute time of all the other counties in the greater region. Figure 38 shows the difference between male versus female commuting time. Lake County depicts average commute time in minutes for men 16.8% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake County has the percentage of 3 vehicles available the second smallest in order of no vehicle available of all the other counties in the metro area at 11% of the total. Second, it has less than most other counties in the greater region when sorted by 4 vehicles available at 9% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake County shows it has a Work in city or place where live of 61% which is the third most people who both work and live in the same city of all other counties in the greater Lake County region. The county with the highest people who both work and live in the same city in the area is Minnehaha County which shows a people who both work and live in the same city of 80% (30.9% larger). Comparing people who both work and live in the same city to the United States average of 44%, Lake County is 38.7% larger. Also, measured against the state of South Dakota, people who both work and live in the same city of 68%, Lake County is about 11.2% smaller.

Lake 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. Lake County shows it has the hightest median earnings of $150,750 for the earnings-healthcare practitioners and tech occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake County depicts it has the hightest median earnings of $60,560 for the earnings-computer, engineering, and science occupations group. The table in Figure 48, shows Lake County employment data in terms of job categories and salary data.

Lake 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. Lake County indicates it has the hightest entrepreneurs of 42% 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. Lake County depicts it has the hightest entrepreneurs of 16% for the self employed in retail trade classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake County shows it has a Self Employment Income of $38,673 which is the third most average annual self employment income of all other counties in the greater Lake County region. The county with the highest average annual self employment income in the area is Kingsbury County which depicts an average annual self employment income of $62,104 (60.6% larger). Comparing average annual self employment income to the United States average of $42,141, Lake County is about 9.0% smaller. Also, measured against the state of South Dakota, average annual self employment income of $40,950, Lake County is about 5.9% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake County depicts total number of self-employed men about twice as large as the total number of self-employed women.