Lake Goodwin CDP Washington Income Charts

This section shows the Lake Goodwin CDP Washington economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Goodwin CDP depicts it has a Median earnings of $61,424 which is in the mid point range of other places in the greater region. The place with the highest median earnings per worker in the area is North Marysville CDP which depicts a median earnings of $72,768 (18.5% larger). Comparing median earnings per worker to the United States average of $49,041, Lake Goodwin CDP is 25.3% larger. Also, measured against the state of Washington, median earnings per worker of $56,651, Lake Goodwin CDP is 8.4% 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 $96,078 which is in the middle range of other places in the area. The place with the highest median household income in the area is Warm Beach CDP which shows a median income of $99,375 (only about 3.4% larger). Comparing median household income to the United States average of $62,843, Lake Goodwin CDP is 52.9% larger. Also, versus the state of Washington, median household income of $73,775, Lake Goodwin CDP is 30.2% larger.

The next section examines a variety of different income statistics for the Lake Goodwin CDP metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 7.3% of the total and is ranked #2. The only larger place being North Marysville CDP with 12.7%.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 37.9 which is the smallest when ranked by average hours of all the other places in the greater region. The place with the highest average hours in the area is North Marysville CDP which depicts an average hours of 41.6 (9.8% 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 $31.17 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 Kayak Point CDP which shows an average hourly earnings of $33.96 (9.0% larger). Comparing average hourly earnings to the United States average of $24.31, Lake Goodwin CDP is 28.2% larger. Also, compared with the state of Washington, average hourly earnings of $28.22, Lake Goodwin CDP is 10.4% larger.

Figure 7 examines the number of self employed people in the Lake Goodwin CDP metro area based on the number of people who reported any self employment income. Lake Goodwin CDP depicts it has a Self Employed of 13.5% which is the second most people self employed of all the places in the greater Lake Goodwin CDP region. The place with the highest percentage of people self employed in the area is North Marysville CDP which shows a percentage self employed of 21.3% (57.9% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years the second smallest in order of median income for those under 25 years of age of all the other places in the local area at $82,292 of the total. Second, it has one of the largest proportions of median income-25 to 44 years at $118,095 of the total and is ranked #3. Only #2 Warm Beach CDP ($120,833), and #1 North Marysville CDP ($127,857) are larger. Third, it has one of the largest proportions of median income-45 to 64 years at $75,221 of the total and is ranked #2. The only larger place being Sunday Lake CDP with $86,953.

Figure 9 breaks down the source of income and Lake Goodwin CDP has the largest proportion of income from wages at 12.0% 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 24.6% which is in the middle range of other places in the metro area. The place with the highest households with retirement income in the area is Warm Beach CDP which depicts a households with retirement income of 32.3% (31.5% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $107,250 of the total and is ranked #3. Only #2 Sunday Lake CDP ($108,063), and #1 Kayak Point CDP ($121,625) 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. Lake Goodwin CDP depicts it has the hightest cost of 180.0 for the cost of housing grouping.

Lake Goodwin CDP Washington 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 February 2010 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 8.7% to 3.1% in February 2020. This represents a decrease in the monthly unemployment rate of 64.4%. Since that time, the monthly unemployment rate has gone to 6.1% This represents an increase in the monthly unemployment rate of 96.8%. 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 depicts that from February 2010 to before the disasterous Coronavirus Pandemic the monthly labor force participation went from 30,472 to 36,758 in February 2020. This represents an increase in the monthly labor force participation of 20.6%. Since that time, the monthly labor force participation has gone to 35,701 This represents a decrease in the monthly labor force participation of 2.9%.

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 Goodwin CDP depicts it has a Unemployment Rate of 1.5% which is less than most other places in the metro area. The place with the highest unemployment rate in the area is Sunday Lake CDP which shows a rate of 3.6% (approximately 2.4 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Goodwin CDP shows it has a Labor Force Participation of 65.7% which is in the mid range of other places in the surrounding region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Goodwin CDP depicts full time employees approximately 2.5 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 Goodwin CDP area. Lake Goodwin CDP shows it has a Single Earner Families of 26.9% which is the smallest in terms of families with a single earner of all the other places in the surrounding region. The place with the highest families with a single earner in the area is North Marysville CDP which depicts a single earners rate of 100.0% (approximately 3.7 times bigger). The percentage of families with no one working is depicted in Figure 22. Lake Goodwin CDP depicts it has a Families with No One Working of 21.5% which is the second most families with no one working of all the places in the greater Lake Goodwin CDP region. The place with the highest families with no one working in the area is Kayak Point CDP which shows a families with no worker of 23.9% (10.9% larger).

Lake Goodwin CDP Washington Poverty Charts

The next section details economy analysis about poverty for residents of the Lake Goodwin 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. Lake Goodwin CDP depicts it has a Total In Poverty of 287 which is the third most total people earning less than the poverty level of all other places in the greater Lake Goodwin CDP region. The place with the highest total people earning less than the poverty level in the area is Marysville which depicts a total people earning less than the poverty level of 4,918 ( considerably bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake Goodwin CDP depicts it has a Percent of Population In Poverty of 7.7% which is the second most percent of people earning less than the poverty level of all the places in the greater Lake Goodwin CDP region. The place with the highest percent of people earning less than the poverty level in the area is North Marysville CDP which depicts a percent of people in poverty of 16.9% (approximately 2.2 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Lake Goodwin CDP has one of the largest proportions of person in poverty 18 to 34 years at 37% of the total and is ranked #3. Only #2 Warm Beach CDP (38%), and #1 North Marysville CDP (54%) are larger. Second, it has the largest proportion of person in poverty 35 to 54 years at 23% of the total and is ranked #1. Third, it has less than most other places in the local area in terms of person in poverty 55 to 64 years at 20% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake Goodwin CDP has one of the largest proportions of white poverty rate at 69% of the total and is ranked #2. The only larger place being Kayak Point CDP with 100%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Lake Goodwin CDP has the largest proportion of less than highschool in poverty at 13% 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 Goodwin CDP has the largest proportion of people who are in poverty and unemployed at 25.4% 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.) Lake Goodwin CDP indicates it has a Public Assistance Percent of 4.5% which is less than most other places in the local area. The place with the highest households with public assistance in the area is North Marysville CDP which depicts a households with public assistance of 36.1% ( markedly bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake Goodwin CDP depicts it has a Gini Index of 39.2% which is the second most the gini index of all the places in the greater Lake Goodwin CDP region.

Lake Goodwin CDP Washington 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 Lake Goodwin 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.) Lake Goodwin CDP has the largest proportion of people who take public transportation to work at 2% 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 Lake Goodwin CDP or elsewhere.) Lake Goodwin CDP has the largest proportion of people who bike at 2% of the total and is ranked #1. Second, it has the largest proportion of people who took a taxicab, motorcycle or other at 1% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Lake Goodwin CDP has the percentage of people who leave for work between 12am to 5am 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 5% of the total. Second, it has the largest proportion of people who leave for work between 630 am to 7am at 14% 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 Goodwin CDP has the percentage of people with commute time between 5 to 9 minutes less than most other places in the local area at 6% of the total.

The average commute time is shown in Figure 37. Lake Goodwin CDP depicts it has a Avg Commute Time of 32 which is in the mid range of other places in the greater region. Figure 38 shows the difference between male versus female commuting time. Lake Goodwin CDP shows average commute time in minutes for men 57.5% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake Goodwin CDP has one of the largest proportions of no vehicle available at 9% of the total and is ranked #3. Only #2 Arlington (11%), and #1 Marysville (12%) are larger. Second, it has in the mid range of other places in the metro area when ranked by 1 vehicle available at 29% of the total. Third, it has the smallest proportion of 2 vehicles available at 22% of the total. Also, it has one of the largest proportions of 3 vehicles available at 22% of the total and is ranked #3. Only #2 Kayak Point CDP (34%), and #1 North Marysville CDP (36%) are larger. In addition, it has the largest proportion of 4 vehicles available at 18% 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.) Lake Goodwin CDP shows it has a Work in city or place where live of 8% which is less than most other places in the metro area. The place with the highest people who both work and live in the same city in the area is Arlington which shows a people who both work and live in the same city of 26% (approximately 3.3 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Lake Goodwin CDP is approximately a fifth the size. Also, versus the state of Washington, people who both work and live in the same city of 37%, Lake Goodwin CDP is approximately a fifth the size.

Lake Goodwin CDP Washington 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 Goodwin CDP shows it has the hightest median earnings of $106,838 for the management, business, and financial occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Goodwin CDP shows it has the hightest median earnings of $64,167 for the management, business, and financial occupations grouping. The table in Figure 48, shows Lake Goodwin CDP employment data in terms of job categories and salary data.

Lake Goodwin CDP Washington 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 Goodwin CDP depicts it has the hightest entrepreneurs of 57% for the self employed management, business, science, and arts businesses classification.

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 Goodwin CDP shows it has the hightest entrepreneurs of 50% for the self employed in construction group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake Goodwin CDP shows it has a Self Employment Income of $106,627 which is more than all other places in the greater Lake Goodwin CDP region. Comparing average annual self employment income to the United States average of $39,154, Lake Goodwin CDP is approximately 2.7 times bigger. Also, measured against the state of Washington, average annual self employment income of $39,075, Lake Goodwin CDP is approximately 2.7 times bigger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Goodwin CDP depicts total number of self-employed men 64.0% larger as the total number of self-employed women.