Potter County Income Charts

This section shows the Potter 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, Potter County depicts it has a Median earnings of $43,886 which is the second smallest when sorted by median earnings per worker of all the other counties in the area. The county with the highest median earnings per worker in the area is Hyde County which depicts a median earnings of $51,645 (17.7% larger). Comparing median earnings per worker to the United States average of $53,269, Potter County is about 21.4% smaller. Also, measured against the state of South Dakota, median earnings per worker of $46,456, Potter County is about 5.9% 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 $59,408 which is in the middle range of other counties in the area. The county with the highest median household income in the area is Edmunds County which depicts a median income of $69,732 (17.4% larger). Comparing median household income to the United States average of $69,021, Potter County is about 16.2% smaller. Also, measured against the state of South Dakota, median household income of $63,920, Potter County is about 7.6% smaller.

The next section examines a variety of different income statistics for the Potter County metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 8.2% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $50,000 and $74,999 at 2.9% of the total. Third, it has the largest proportion of earnings between $75,000 and $99,999 at 9.4% 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 41.4 which is less than most other counties in the local area. The county with the highest average hours in the area is Hyde County which depicts an average hours of 44.5 (7.5% 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 $20.39 which is less than most other counties in the metro area. The county with the highest average hourly earnings in the area is Hyde County which shows an average hourly earnings of $22.32 (9.5% larger). Comparing average hourly earnings to the United States average of $26.40, Potter County is approximately three-fourths the size. Also, versus the state of South Dakota, average hourly earnings of $22.56, Potter County is about 10.7% smaller.

Figure 7 examines the number of self employed people in the Potter County metro area based on the number of people who reported any self employment income. Potter County shows it has a Self Employed of 21.6% which is less than most other counties in the metropolitan area. The county with the highest percentage of people self employed in the area is Faulk County which shows a percentage self employed of 35.3% (63.2% larger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $85,417 of the total and is ranked #1. Second, it has the largest proportion of median income-25 to 44 years at $73,646 of the total and is ranked #1. Third, it has one of the largest proportions of median income-45 to 64 years at $46,548 of the total and is ranked #3. Only #2 Edmunds County ($51,250), and #1 Hyde County ($60,417) are larger.

Figure 9 breaks down the source of income and Potter County has the smallest proportion of income from wages at 10.4% of the total. Second, it has the largest proportion of investment and retirement income at 11.2% of the total and is ranked #1.

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 22.7% which is the second most households with retirement income of all the counties in the greater Potter County region. The county with the highest households with retirement income in the area is Walworth County which indicates a households with retirement income of 23.8% (only about 4.8% 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 in the middle range of other counties in the local area at $81,591 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. Potter County depicts it has the hightest cost of 105.9 for the cost of grocery items aggregate.

Potter 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 Coronavirus Pandemic it went from 3.8% to 3.5% in December 2019. This represents a decrease in the monthly unemployment rate of 7.9%. Since that time, the monthly unemployment rate has gone to 3.5%. 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 shows that from January 2017 to before the disasterous Covid-19 virus Pandemic it went from 1,065 to 1,036 in November 2019. This represents a decrease in the monthly labor force participation of 2.7%. Since that time, the monthly labor force participation has gone to 1,036. 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 Potter County depicts it has a Unemployment Rate of 0.9% which is less than most other counties in the area. The county with the highest unemployment rate in the area is Dewey County which depicts a rate of 12.8% ( markedly bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Potter County depicts it has a Labor Force Participation of 58.1% which is the smallest when sorted by participation rate of all the other counties in the surrounding region.

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). Potter County has the largest proportion of unemployed at 41.9% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Potter County shows full time employees approximately 4.7 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 Potter County area. Potter County shows it has a Single Earner Families of 26.6% which is the most of all counties in the greater Potter County region. The percentage of families with no one working is depicted in Figure 22. Potter County depicts it has a Families with No One Working of 19.6% which is the second most families with no one working of all the counties in the greater Potter County region. The county with the highest families with no one working in the area is Walworth County which shows a families with no worker of 21.6% (10.5% larger).

Potter County Poverty Charts

The next section details economy analysis about poverty for residents of the Potter 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. Potter County depicts it has a Total In Poverty of 186 which is less than most other counties in the metropolitan area. The county with the highest total people earning less than the poverty level in the area is Dewey County which shows a total people earning less than the poverty level of 1,858 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Potter County depicts it has a Percent of Population In Poverty of 7.4% which is less than most other counties in the greater region. The county with the highest percent of people earning less than the poverty level in the area is Dewey County which shows a percent of people in poverty of 35.1% (approximately 4.8 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Potter County has one of the largest proportions of person in poverty 12 to 17 years at 25% of the total and is ranked #3. Only #2 Hyde County (25%), and #1 Walworth County (29%) are larger. Second, it has the second smallest in order of person in poverty under 12 years of all the other counties in the local area as measured by person in poverty 18 to 34 years at 9% of the total. Third, it has the second smallest when ranked by person in poverty under 12 years of all the other counties in the surrounding region in terms of person in poverty 35 to 54 years at 3% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Potter County has one of the largest proportions of black poverty rate at 33% of the total and is ranked #3. Only #2 Dewey County (43%), and #1 Walworth County (52%) are larger.

Figure 27 shows key poverty statistics for groups based on marriage status. Potter County has the percentage of married with children and in poverty less than most other counties in the metro area at 10% of the total. Second, it has the second smallest when sorted by married with children and in poverty of all the other counties in the local area when sorted by unmarried with children and in poverty at 14% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Potter County has the smallest proportion of less than highschool in poverty at 2% of the total. Second, it has the second smallest in terms of less than highschool in poverty of all the other counties in the surrounding region when ranked by has some college and in poverty at 1% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Potter County has the smallest proportion of people who are in poverty and unemployed at 5.9% 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.) Potter County depicts it has a Public Assistance Percent of 4.1% which is the second smallest when ranked by households with public assistance of all the other counties in the greater region. The county with the highest households with public assistance in the area is Dewey County which shows a households with public assistance of 29.6% ( substantially bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Potter County depicts it has a Gini Index of 40.4% which is the smallest in terms of the gini index of all the other counties in the local area.

Potter County Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Potter County or elsewhere.) Potter County has the largest proportion of people who drove alone at 80% 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. Potter County has one of the largest proportions of people with commute time between 5 to 9 minutes at 14% of the total and is ranked #3. Only #2 Walworth County (18%), and #1 Dewey County (47%) are larger. Second, it has the smallest proportion of people with commute time between 10 to 14 minutes at 5% of the total. Third, it has the largest proportion of people with commute time between 45 to 59 minutes at 3% of the total and is ranked #1.

The average commute time is shown in Figure 37. Potter County shows it has a Avg Commute Time of 12 which is the smallest in terms of average commute time of all the other counties in the metropolitan area. Figure 38 shows the difference between male versus female commuting time. Potter County depicts average commute time in minutes for men only about 4.3% smaller as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Potter County has the percentage of no vehicle available less than most other counties in the local area at 12% of the total. Second, it has the largest proportion of 1 vehicle available at 38% of the total and is ranked #1. Third, it has one of the largest proportions of 2 vehicles available at 35% of the total and is ranked #2. The only larger county being Sully County with 38%. Also, it has the smallest proportion of 4 vehicles available at 1% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Potter County shows it has a Work in city or place where live of 64% which is the third most of all other counties in the surrounding 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% (19.7% larger). Comparing people who both work and live in the same city to the United States average of 44%, Potter County is 44.6% larger. Also, measured against the state of South Dakota, people who both work and live in the same city of 68%, Potter County is about 6.7% smaller.

Potter 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. Potter County shows it has the hightest median earnings of $58,077 for the earnings-sales and office occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Potter County shows it has the hightest median earnings of $51,094 for the earnings-healthcare practitioners and tech occupations aggregate. The table in Figure 48, shows Potter County employment data in terms of job categories and salary data.

Potter 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. Potter County depicts it has the hightest entrepreneurs of 68% 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. Potter County shows it has the hightest entrepreneurs of 59% for the self employed in agriculture, forestry, fishing and hunting, and mining grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Potter County depicts it has a Self Employment Income of $35,703 which is the second smallest in terms of average annual self employment income of all the other counties in the local area. The county with the highest average annual self employment income in the area is Edmunds County which depicts 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, Potter County is about 18.0% smaller. Also, benchmarked against the state of South Dakota, average annual self employment income of $40,950, Potter County is about 14.7% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Potter County depicts total number of self-employed men approximately 3.6 times bigger as the total number of self-employed women.