Woods Cross Utah Income Charts

This section shows the Woods Cross Utah economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Woods Cross depicts it has a Median earnings of $49,906 which is the second smallest when sorted by median earnings per worker of all the other places in the local area. The city with the highest median earnings per worker in the area is Farmington which shows a median earnings of $72,613 (45.5% larger). Comparing median earnings per worker to the United States average of $49,041, Woods Cross is only slightly larger. Also, measured against the state of Utah, median earnings per worker of $48,166, Woods Cross is only about 3.6% larger.

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 $77,433 which is the second smallest in terms of median household income of all the other places in the surrounding region. The city with the highest median household income in the area is Farmington which shows a median income of $106,488 (37.5% larger). Comparing median household income to the United States average of $62,843, Woods Cross is 23.2% larger. Also, benchmarked against the state of Utah, median household income of $71,621, Woods Cross is 8.1% larger.

The next section examines a variety of different income statistics for the Woods Cross metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 7.2% of the total and is ranked #2. The only larger city being Salt Lake City with 7.2%. Second, it has the largest proportion of earnings between $20,000 and $49,999 at 29.2% of the total and is ranked #1. Third, it has the smallest proportion of earnings between $75,000 and $99,999 at 3.9% 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 37.7 which is the third most average hours of all other places in the greater Woods Cross region. The city with the highest average hours in the area is North Salt Lake which depicts an average hours of 38.4 ( only slightly 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 $25.46 which is the second smallest in terms of average hourly earnings of all the other places in the metro area. The city with the highest average hourly earnings in the area is Farmington which shows an average hourly earnings of $37.44 (47.1% larger). Comparing average hourly earnings to the United States average of $24.31, Woods Cross is only about 4.7% larger. Also, in comparison with the state of Utah, average hourly earnings of $24.90, Woods Cross is only slightly larger.

Figure 7 examines the number of self employed people in the Woods Cross metro area based on the number of people who reported any self employment income. Woods Cross depicts it has a Self Employed of 10.8% which is the smallest when sorted by percentage of people self employed of all the other places in the local area. The city with the highest percentage of people self employed in the area is Centerville which depicts a percentage self employed of 14.6% (35.4% 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 places in the local area at $79,502 of the total. Second, it has the second smallest when ranked by median income for those under 25 years of age of all the other places in the local area in order of median income-25 to 44 years at $88,790 of the total. Third, it has the smallest proportion of median income-45 to 64 years at $46,250 of the total.

Figure 9 breaks down the source of income and Woods Cross has the smallest proportion of income from wages at 3.0% 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 10.4% which is the smallest when ranked by households with retirement income of all the other places in the local area. The city with the highest households with retirement income in the area is Bountiful which depicts a households with retirement income of 22.7% (about twice as large).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the smallest proportion of overall family income at $87,188 of the total. Second, it has one of the largest proportions of hawaiian family income at $78,750 of the total and is ranked #3. Only #2 Centerville ($87,202), and #1 Farmington ($117,000) 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. Woods Cross depicts it has the hightest cost of 121.8 for the cost of housing classification.

Woods Cross Utah 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 February 2010 to before the disasterous Covid-19 virus Pandemic the monthly unemployment rate went from 7.6% to 2.8% in February 2020. This represents a decrease in the monthly unemployment rate of 63.2%. Since that time, the monthly unemployment rate has gone to 3.7% This represents an increase in the monthly unemployment rate of 32.1%. 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 19,372 to 21,258 in February 2020. This represents an increase in the monthly labor force participation of 9.7%. Since that time, the monthly labor force participation has gone to 21,741 This represents an increase in the monthly labor force participation of 2.3%.

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 Woods Cross depicts it has a Unemployment Rate of 2.7% which is the highest of all places in the greater Woods Cross region. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Woods Cross shows it has a Labor Force Participation of 76.7% which is the second most participation rates of all the places in the greater Woods Cross 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). Woods Cross has the largest proportion of employed at 2.7% 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. Woods Cross shows full time employees approximately 3.0 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 Woods Cross area. Woods Cross depicts it has a Single Earner Families of 24.0% which is the second smallest when ranked by families with a single earner of all the other places in the area. The city with the highest families with a single earner in the area is Centerville which depicts a single earners rate of 34.1% (42.0% larger). The percentage of families with no one working is depicted in Figure 22. Woods Cross shows it has a Families with No One Working of 6.9% which is the smallest in terms of families with no one working of all the other places in the local area. The city with the highest families with no one working in the area is Bountiful which shows a families with no worker of 17.5% (approximately 2.5 times bigger).

Woods Cross Utah Poverty Charts

The next section details economy analysis about poverty for residents of the Woods Cross 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. Woods Cross depicts it has a Total In Poverty of 843 which is the third most total people earning less than the poverty level of all other places in the greater Woods Cross region. The city with the highest total people earning less than the poverty level in the area is Salt Lake City which depicts a total people earning less than the poverty level of 31,869 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Woods Cross depicts it has a Percent of Population In Poverty of 7.5% which is the third most percent of people earning less than the poverty level of all other places in the greater Woods Cross region. The city with the highest percent of people earning less than the poverty level in the area is Salt Lake City which depicts a percent of people in poverty of 16.6% (approximately 2.2 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Woods Cross has the largest proportion of person in poverty under 12 years at 29% of the total and is ranked #1. Second, it has less than most other places in the metropolitan area in order of person in poverty 55 to 64 years at 6% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Woods Cross has the largest proportion of white poverty rate at 48% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Woods Cross has the largest proportion of married with children and in poverty at 54% of the total and is ranked #1. Second, it has the largest proportion of unmarried with children and in poverty at 60% 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. Woods Cross has the smallest proportion of people who are in poverty and unemployed at 6.5% 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.) Woods Cross depicts it has a Public Assistance Percent of 3.8% which is in the mid range of other places in the local area. The city with the highest households with public assistance in the area is Salt Lake City which depicts a households with public assistance of 8.3% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Woods Cross shows it has a Gini Index of 31.8% which is the second smallest when ranked by the gini index of all the other places in the greater region.

Woods Cross Utah 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 Woods Cross 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.) Woods Cross has the smallest proportion of people who bicycle or walk to work at 4% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Woods Cross or elsewhere.) Woods Cross has the smallest proportion of people who work from home at 4% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Woods Cross has the largest proportion of people who leave for work between 12am to 5am at 5% of the total and is ranked #1. 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 largest proportion of people who leave for work between 10am to 11am at 3% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 12noon to 4pm at 3% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Woods Cross has the largest proportion of people with commute time of less than 5 minutesutes at 15% of the total and is ranked #1. Second, it has the smallest proportion of people with commute time between 25 to 29 minutes at 9% of the total. Third, it has the largest proportion of people with commute time between 40 to 44 minutes at 4% 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. Woods Cross depicts it has a Avg Commute Time of 19 which is the smallest in order of average commute time of all the other places in the greater region. Figure 38 shows the difference between male versus female commuting time. Woods Cross depicts average commute time in minutes for men 44.0% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Woods Cross has the percentage of no vehicle available in the center range of other places in the greater region at 10% of the total. Second, it has the largest proportion of 3 vehicles available at 17% of the total and is ranked #1. Third, it has less than most other places in the surrounding region when ranked by 4 vehicles available at 4% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Woods Cross depicts it has a Work in city or place where live of 10% which is the smallest in terms of people who both work and live in the same city of all the other places in the metro area. The city with the highest people who both work and live in the same city in the area is Salt Lake City which depicts a people who both work and live in the same city of 64% ( substantially bigger). Comparing people who both work and live in the same city to the United States average of 42%, Woods Cross is approximately a quarter the size. Also, benchmarked against the state of Utah, people who both work and live in the same city of 32%, Woods Cross is approximately a third the size.

Woods Cross Utah 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. Woods Cross depicts it has the hightest median earnings of $75,915 for the management, business, and financial occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Woods Cross depicts it has the hightest median earnings of $62,643 for the earnings-healthcare practitioners and tech occupations group. The table in Figure 48, shows Woods Cross employment data in terms of job categories and salary data.

Woods Cross Utah 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. Woods Cross depicts it has the hightest entrepreneurs of 36% 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. Woods Cross shows it has the hightest entrepreneurs of 28% for the self employed in transportation, warehousing, and utilities classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Woods Cross shows it has a Self Employment Income of $23,774 which is the smallest in order of average annual self employment income of all the other places in the local area. The city with the highest average annual self employment income in the area is Centerville which shows an average annual self employment income of $45,675 (about twice as large). Comparing average annual self employment income to the United States average of $39,154, Woods Cross is approximately three-fourths the size. Also, measured against the state of Utah, average annual self employment income of $33,077, Woods Cross 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.) Woods Cross depicts total number of self-employed men 53.6% larger as the total number of self-employed women.