The State of Vermont Income Charts

This section shows the Vermont economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Vermont shows it has a Median earnings of $52,269 which is less than most other states in the local area. The state with the highest median earnings per worker in the group is Massachusetts which depicts a median earnings of $69,105 (32.2% 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 $67,674 which is less than most other states in the greater region. The state with the highest median household income in the group is Massachusetts which depicts a median income of $89,026 (31.6% larger).

The next section examines a variety of different income statistics for the Vermont metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $20,000 and $49,999 at 23.4% 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 37.7 which is the second smallest as measured by average hours of all the other states in the greater region. The state with the highest average hours in the group is New Hampshire which shows an average hours of 38.5 ( 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 $26.66 which is less than most other states in the greater region. The state with the highest average hourly earnings in the group is Massachusetts which shows an average hourly earnings of $34.97 (31.2% larger).

Figure 7 examines the number of self employed people in the Vermont metro area based on the number of people who reported any self employment income. Vermont depicts it has a Self Employed of 15.5% which is more than all other states in the greater Vermont 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 center range of other states in the local area at $78,988 of the total. Second, it has less than most other states in the metro area as measured by median income-25 to 44 years at $80,368 of the total. Third, it has in the intermediate range of other states in the metropolitan area in order of median income-45 to 64 years at $51,650 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 23.0% which is the third most households with retirement income of all other states in the greater Vermont region. The state with the highest households with retirement income in the group is Maine which shows a households with retirement income of 24.1% (only about 5.2% 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 less than most other states in the local area at $89,370 of the total. Second, it has less than most other states in the surrounding region as measured by white family income at $57,400 of the total. Third, it has one of the largest proportions of black family income at $61,458 of the total and is ranked #2. The only larger state being New Hampshire with $93,750. Also, it has less than most other states in the local area in order of american indian family income at $81,705 of the total. In addition, it has in the mid point range of other states in the greater region when ranked by asian family income at $33,611 of the total. Furthermore, it has the largest proportion of hawaiian family income at $77,243 of the total and is ranked #1.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Vermont depicts it has the hightest cost of 119.4 for the cost of utilities category.

The State of Vermont 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 January 2017 to before the Coronavirus Pandemic it went from 4.8% to 4.4% in March 2020. This represents a decrease in the monthly unemployment rate of 8.3%. Since that time, the monthly unemployment rate has gone to 3.5%. This represents a decrease in the monthly unemployment rate of 20.5%. 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 COVID-19 Pandemic it went from 344,458 to 339,375 in November 2019. This represents a decrease in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 346,076. 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 Vermont shows it has a Unemployment Rate of 2.5% which is less than most other states in the local area. The state with the highest unemployment rate in the group is Connecticut which shows a rate of 4.0% (56.6% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of depicts it has a Labor Force Participation of 65.1% which is less than most other states in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Vermont depicts full time employees approximately 2.8 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 Vermont area. Vermont depicts it has a Single Earner Families of 22.1% which is the second smallest when ranked by families with a single earner of all the other states in the metro area. The state with the highest families with a single earner in the group is Connecticut which depicts a single earners rate of 26.5% (20.0% larger). The percentage of families with no one working is depicted in Figure 22. Vermont depicts it has a Families with No One Working of 16.5% which is the second most families with no one working of all the states in the greater Vermont region. The state with the highest families with no one working in the group is Maine which shows a families with no worker of 18.9% (14.9% larger).

The State of Vermont Poverty Charts

The next section details economy analysis about poverty for residents of the Vermont 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. Vermont depicts it has a Total In Poverty of 64,962 which is the second smallest as measured by total people earning less than the poverty level of all the other states in the local area. The state with the highest total people earning less than the poverty level in the group is Massachusetts which depicts a total people earning less than the poverty level of 668,780 ( appreciably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Vermont depicts it has a Percent of Population In Poverty of 10.5% which is the third most percent of people earning less than the poverty level of all other states in the greater Vermont region. The state with the highest percent of people earning less than the poverty level in the group is Rhode Island which shows a percent of people in poverty of 11.3% (7.0% larger).

In Figure 25 people who are in poverty are broken out by age group. Vermont has the smallest proportion of person in poverty under 12 years at 7% of the total. Second, it has the largest proportion of person in poverty 12 to 17 years at 30% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Vermont has the largest proportion of american indian poverty rate at 17% of the total and is ranked #1. Second, it has the smallest proportion of asian poverty rate at 4% of the total. Third, it has the smallest proportion of hawaiian poverty rate at 15% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Vermont has the smallest proportion of married with children and in poverty at 26% of the total. Second, it has the smallest proportion of unmarried with children and in poverty at 30% 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. Vermont has the largest proportion of people who are in poverty and unemployed at 20.3% 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.) the state of shows it has a Public Assistance Percent of 11.4% which is less than most other states in the greater region. The state with the highest households with public assistance in the group is Rhode Island which depicts a households with public assistance of 16.0% (40.0% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of shows it has a Gini Index of 44.9% which is less than most other states in the surrounding region.

The State of 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 Vermont 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.) Vermont has the largest proportion of people who take public transportation to work at 6% 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 Vermont or elsewhere.) Vermont has the smallest proportion of people who take the Long-distance train or commuter rail at 0% of the total. Second, it has the smallest proportion of people who take the ferry at 0% of the total. Third, it has the largest proportion of people who walked at 5% of the total and is ranked #1. Also, it has the smallest proportion of people who took a taxicab, motorcycle or other at 1% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Vermont has the smallest proportion of people who leave for work between 12am to 5am at 3% of the total. Second, it has the largest proportion of people who leave for work between 630 am to 7am at 16% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 7am to 730am at 15% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 12noon to 4pm at 5% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Vermont has the largest proportion of people with commute time of less than 5 minutesutes at 13% of the total and is ranked #1. Second, it has the largest proportion of people with commute time between 5 to 9 minutes at 15% of the total and is ranked #1. Third, it has the smallest proportion of people with commute time between 25 to 29 minutes at 11% of the total. Also, it has the smallest proportion of people with commute time between 35 to 39 minutes at 4% of the total. In addition, it has the smallest proportion of people with commute time between 45 to 59 minutes at 4% of the total. Furthermore, it has the smallest proportion of people with commute time between 60 to 89 minutes at 2% of the total.

The average commute time is shown in Figure 37. the state of depicts it has a Avg Commute Time of 23 which is the second smallest in order of average commute time of all the other states in the metropolitan area. Figure 38 shows the difference between male versus female commuting time. Vermont depicts average commute time in minutes for men 13.5% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Vermont has the largest proportion of 1 vehicle available at 47% of the total and is ranked #1. Second, it has the smallest proportion of 3 vehicles available at 7% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of depicts it has a Work in city or place where live of 41% which is the third most people who both work and live in the same city of all other states in the greater Vermont region. The state with the highest people who both work and live in the same city in the group is Maine which shows a people who both work and live in the same city of 43% (only about 5.1% larger).

The State of 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. the state of depicts it has the hightest median earnings of $82,334 for the earnings-computer, engineering, and science occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of depicts it has the hightest median earnings of $68,463 for the earnings-healthcare practitioners and tech occupations classification. The table in Figure 48, shows Vermont employment data in terms of job categories and salary data.

The State of 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. the state of depicts it has the hightest entrepreneurs of 55% for the self employed management, business, science, and arts 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. the state of depicts it has the hightest entrepreneurs of 23% for the self employed in professional, scientific, management, administrative services classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of depicts it has a Self Employment Income of $33,074 which is the second smallest when sorted by average annual self employment income of all the other states in the metro area. The state with the highest average annual self employment income in the group is Connecticut which shows an average annual self employment income of $52,356 (58.3% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Vermont depicts total number of self-employed men 54.8% larger as the total number of self-employed women.