Island Pond CDP Vermont Income Charts

This section shows the Island Pond CDP Vermont economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Island Pond CDP depicts it has a Median earnings of $37,639 which is in the mid range of other places in the area. The place with the highest median earnings per worker in the area is Derby Line which shows a median earnings of $47,917 (27.3% larger). Comparing median earnings per worker to the United States average of $50,459, Island Pond CDP is approximately three-fourths the size. Also, compared to the state of Vermont, median earnings per worker of $49,689, Island Pond CDP is approximately three-fourths the 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 $38,689 which is less than most other places in the surrounding region. The place with the highest median household income in the area is East Burke CDP which depicts a median income of $57,917 (49.7% larger). Comparing median household income to the United States average of $64,994, Island Pond CDP is approximately three-fourths the size. Also, in comparison with the state of Vermont, median household income of $63,477, Island Pond CDP is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Island Pond CDP metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 in the center range of other places in the local area at 6.8% of the total. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 13.8% 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 37.2 which is less than most other places in the greater region. The place with the highest average hours in the area is West Burke which depicts an average hours of 41.4 (11.3% 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 $19.46 which is in the mid range of other places in the local area. The place with the highest average hourly earnings in the area is Derby Line which depicts an average hourly earnings of $23.27 (19.6% larger). Comparing average hourly earnings to the United States average of $25.01, Island Pond CDP is approximately three-fourths the size. Also, compared to the state of Vermont, average hourly earnings of $25.21, Island Pond CDP is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Island Pond CDP metro area based on the number of people who reported any self employment income. Island Pond CDP indicates it has a Self Employed of 8.0% which is in the center range of other places in the local area. The place with the highest percentage of people self employed in the area is West Burke which shows a percentage self employed of 17.4% (about twice as large).

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 greater region at $20,982 of the total. Second, it has in the mid range of other places in the metro area in terms of median income-25 to 44 years at $49,625 of the total. Third, it has the largest proportion of median income-45 to 64 years at $38,320 of the total and is ranked #1.

Figure 9 breaks down the source of income and Island Pond CDP has the largest proportion of self employment income at 15.6% of the total and is ranked #1. Second, it has the largest proportion of investment and retirement income at 24.1% 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 30.6% which is the most of all places in the metro area.

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 places in the surrounding region at $52,125 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. Island Pond CDP depicts it has the hightest cost of 119.4 for the cost of utilities category.

Island Pond CDP Vermont 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 January 2010 to before the disasterous Covid-19 virus Pandemic the monthly unemployment rate went from 10.6% to 5.4% in March 2020. This represents a decrease in the monthly unemployment rate of 49.1%. Since that time, the monthly unemployment rate has gone to 4.6% This represents a decrease in the monthly unemployment rate of 14.8%. 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 shows that from January 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly labor force participation went from 568 to 517 in March 2020. This represents a decrease in the monthly labor force participation of 9.0%. Since that time, the monthly labor force participation has gone to 478 This represents a decrease in the monthly labor force participation of 7.5%.

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 Island Pond CDP shows it has a Unemployment Rate of 0.8% which is the second smallest when sorted by unemployment rate of all the other places in the metro area. The place with the highest unemployment rate in the area is West Burke which depicts a rate of 5.6% ( markedly bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Island Pond CDP depicts it has a Labor Force Participation of 53.8% which is less than most other places in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Island Pond CDP depicts full time employees approximately 5.0 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 Island Pond CDP area. Island Pond CDP depicts it has a Single Earner Families of 26.7% which is the third most families with a single earner of all other places in the greater Island Pond CDP region. The place with the highest families with a single earner in the area is Derby Line which shows a single earners rate of 31.5% (18.3% larger). The percentage of families with no one working is depicted in Figure 22. Island Pond CDP depicts it has a Families with No One Working of 21.2% which is less than most other places in the local area. The place with the highest families with no one working in the area is East Burke CDP which shows a families with no worker of 77.8% (approximately 3.7 times bigger).

Island Pond CDP Vermont Poverty Charts

The next section details economy analysis about poverty for residents of the Island Pond 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. Island Pond CDP depicts it has a Total In Poverty of 88 which is less than most other places in the local area. The place with the highest total people earning less than the poverty level in the area is Derby Center which depicts a total people earning less than the poverty level of 154 (75.0% larger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Island Pond CDP depicts it has a Percent of Population In Poverty of 11.6% which is the second smallest in order of percent of people earning less than the poverty level of all the other places in the local area. The place with the highest percent of people earning less than the poverty level in the area is Barton which shows a percent of people in poverty of 25.8% (approximately 2.2 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Island Pond CDP has one of the largest proportions of person in poverty 12 to 17 years at 34% of the total and is ranked #2. The only larger place being Derby Line with 42%. Second, it has one of the largest proportions of person in poverty 55 to 64 years at 24% of the total and is ranked #3. Only #2 Derby Line (26%), and #1 Barton (30%) are larger.

Figure 27 shows key poverty statistics for groups based on marriage status. Island Pond CDP has the percentage of married with children and in poverty the second smallest when sorted by married with children and in poverty of all the other places in the local area at 12% of the total. Second, it has less than most other places in the local area when ranked by unmarried with children and in poverty at 13% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Island Pond CDP has the smallest proportion of less than highschool in poverty at 9% of the total. Second, it has less than most other places in the metro area when ranked by has some college and in poverty at 2% 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. Island Pond CDP has the percentage of people who are in poverty and unemployed less than most other places in the greater region at 2.3% 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.) Island Pond CDP shows it has a Public Assistance Percent of 16.0% which is the second smallest when sorted by households with public assistance of all the other places in the area. The place with the highest households with public assistance in the area is West Burke which depicts a households with public assistance of 43.2% (approximately 2.7 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Island Pond CDP depicts it has a Gini Index of 37.8% which is less than most other places in the metro area.

Island Pond CDP Vermont 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 Island Pond CDP 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.) Island Pond CDP has the largest proportion of people who take public transportation to work at 5% of the total and is ranked #1. Second, it 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 Island Pond CDP or elsewhere.) Island Pond CDP has the largest proportion of people who walked at 5% of the total and is ranked #1. Second, it 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. Island Pond CDP has the percentage of people who leave for work between 5am to 530am the second smallest in terms of people who leave for work between 12am to 5am of all the other places in the local area at 1% of the total. Second, it has the second smallest as measured by people who leave for work between 12am to 5am of all the other places in the surrounding region in order of people who leave for work between 6am to 630am at 6% of the total. Third, it has the largest proportion of people who leave for work between 9am to 10am 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. Island Pond CDP has one of the largest proportions of people with commute time of less than 5 minutesutes at 13% of the total and is ranked #2. The only larger place being Derby Center with 14%. Second, it has the smallest proportion of people with commute time between 5 to 9 minutes at 1% of the total. Third, it has the second smallest as measured by people with commute time of less than 5 minutes of all the other places in the local area in terms of people with commute time between 10 to 14 minutes at 9% of the total. Also, it has the largest proportion of people with commute time between 30 to 34 minutes at 8% of the total and is ranked #1. In addition, it has the second smallest in terms of people with commute time of less than 5 minutes of all the other places in the metro area when sorted by people with commute time between 60 to 89 minutes at 1% of the total.

The average commute time is shown in Figure 37. Island Pond CDP shows it has a Avg Commute Time of 21 which is the smallest when ranked by average commute time of all the other places in the metropolitan area. Figure 38 shows the difference between male versus female commuting time. Island Pond CDP depicts average commute time in minutes for men 16.4% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Island Pond CDP has one of the largest proportions of no vehicle available at 27% of the total and is ranked #3. Only #2 Orleans (30%), and #1 East Burke CDP (42%) are larger. Second, it has the smallest proportion of 1 vehicle available at 32% of the total. Third, it has the largest proportion of 2 vehicles available at 36% of the total and is ranked #1. Also, it has the largest proportion of 4 vehicles available at 4% 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.) Island Pond CDP depicts it has a Work in city or place where live of 41% which is the largest of all places in the greater region. Comparing people who both work and live in the same city to the United States average of 43%, Island Pond CDP is only about 2.7% smaller. Also, compared with the state of Vermont, people who both work and live in the same city of 38%, Island Pond CDP is 8.1% larger.

Island Pond CDP Vermont 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. Island Pond CDP shows it has the hightest median earnings of $17,386 for the earnings-production, transportation, material moving occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Island Pond CDP shows it has the hightest median earnings of $39,643 for the earnings-sales and office occupations category. The table in Figure 48, shows Island Pond CDP employment data in terms of job categories and salary data.

Island Pond CDP Vermont 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. Island Pond CDP depicts it has the hightest entrepreneurs of 100% for the self employed in service businesses category.

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. Island Pond CDP indicates it has the hightest entrepreneurs of 100% for the self employed in arts, entertainment, recreation, accommodation and food services classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Island Pond CDP indicates it has a Self Employment Income of $21,994 which is more than all other places in the area. Comparing average annual self employment income to the United States average of $40,101, Island Pond CDP is approximately half the size. Also, measured against the state of Vermont, average annual self employment income of $32,178, Island Pond CDP is approximately three-fourths the size.