Elmwood Park Wisconsin Income Charts

This section shows the Elmwood Park Wisconsin economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Elmwood Park shows it has a Median earnings of $62,500 which is in the center range of other places in the area. The city with the highest median earnings per worker in the area is Wind Point which indicates a median earnings of $96,974 (55.2% larger). Comparing median earnings per worker to the United States average of $53,269, Elmwood Park is 17.3% larger. Also, benchmarked against the state of Wisconsin, median earnings per worker of $52,245, Elmwood Park is 19.6% 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 $54,389 which is the second smallest when ranked by median household income of all the other places in the local area. The city with the highest median household income in the area is Wind Point which depicts a median income of $128,333 (approximately 2.4 times bigger). Comparing median household income to the United States average of $69,021, Elmwood Park is approximately three-fourths the size. Also, measured against the state of Wisconsin, median household income of $67,080, Elmwood Park is about 23.3% smaller.

The next section examines a variety of different income statistics for the Elmwood Park metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 6.5% of the total and is ranked #2. The only larger city being Racine with 6.6%. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 9.6% of the total and is ranked #1. Third, it has less than most other places in the area as measured by earnings between $15,000 and $19,999 at 14.8% of the total. Also, it has the largest proportion of earnings between $50,000 and $74,999 at 13.0% of the total and is ranked #1. In addition, it has less than most other places in the local area when sorted by earnings between $75,000 and $99,999 at 10.0% 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 36.1 which is the smallest as measured by average hours of all the other places in the local area. The city with the highest average hours in the area is North Bay which depicts an average hours of 43.4 (20.2% 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 $33.29 which is in the mid point range of other places in the surrounding region. The city with the highest average hourly earnings in the area is Wind Point which depicts an average hourly earnings of $45.82 (37.6% larger). Comparing average hourly earnings to the United States average of $26.40, Elmwood Park is 26.1% larger. Also, in contrast to the state of Wisconsin, average hourly earnings of $26.03, Elmwood Park is 27.9% larger.

Figure 7 examines the number of self employed people in the Elmwood Park metro area based on the number of people who reported any self employment income. Elmwood Park depicts it has a Self Employed of 6.5% which is less than most other places in the local area. The city with the highest percentage of people self employed in the area is Wind Point which depicts a percentage self employed of 19.6% (approximately 3.0 times bigger).

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 as measured by median income for those under 25 years of age of all the other places in the local area at $74,375 of the total. Second, it has in the center range of other places in the area when ranked by median income-25 to 44 years at $97,250 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $53,247 of the total and is ranked #3. Only #2 Mount Pleasant ($53,367), and #1 Wind Point ($67,708) are larger.

Figure 9 breaks down the source of income and Elmwood Park has one of the largest proportions of self employment income at 28.2% of the total and is ranked #2. The only larger city being North Bay with 35.3%. Second, it has the largest proportion of investment and retirement income at 23.3% 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 48.5% which is the most of all places in the greater Elmwood Park region.

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 metropolitan area at $97,250 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. Elmwood Park shows it has the hightest cost of 108.1 for the cost of healthcare aggregate.

Elmwood Park Wisconsin 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 shows that from February 2017 to before the COVID-19 Pandemic it went from 6.1% to 4.5% in December 2019. This represents a decrease in the monthly unemployment rate of 26.2%. Since that time, the monthly unemployment rate has gone to 4.5%. 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 Coronavirus Pandemic it went from 35,413 to 34,732 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 34,732. 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 Elmwood Park shows it has a Unemployment Rate of 1.7% which is in the middle range of other places in the metropolitan area. The city with the highest unemployment rate in the area is Somers which depicts a rate of 4.9% (approximately 2.9 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Elmwood Park shows it has a Labor Force Participation of 44.1% which is the second smallest in terms of participation rate of all the other places in the metro area.

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). Elmwood Park has one of the largest proportions of unemployed at 55.9% of the total and is ranked #2. The only larger city being North Bay with 57.2%.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Elmwood Park shows full time employees approximately 2.3 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 Elmwood Park area. Elmwood Park depicts it has a Single Earner Families of 24.0% which is the second smallest when sorted by families with a single earner of all the other places in the surrounding region. The city with the highest families with a single earner in the area is Wind Point which depicts a single earners rate of 36.0% (50.2% larger). The percentage of families with no one working is depicted in Figure 22. Elmwood Park depicts it has a Families with No One Working of 14.9% which is less than most other places in the metro area. The city with the highest families with no one working in the area is Wind Point which depicts a families with no worker of 26.2% (75.9% larger).

Elmwood Park Wisconsin Poverty Charts

The next section details economy analysis about poverty for residents of the Elmwood Park 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. Elmwood Park depicts it has a Total In Poverty of 9 which is the second smallest in order of total people earning less than the poverty level of all the other places in the local area. The city with the highest total people earning less than the poverty level in the area is Racine which depicts a total people earning less than the poverty level of 15,040 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Elmwood Park depicts it has a Percent of Population In Poverty of 1.6% which is the smallest as measured by percent of people earning less than the poverty level of all the other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Racine which depicts a percent of people in poverty of 19.8% ( quite a bit bigger).

In Figure 25 people who are in poverty are broken out by age group. Elmwood Park has the largest proportion of person in poverty 35 to 54 years at 44% of the total and is ranked #1. Second, it has the largest proportion of person in poverty 55 to 64 years at 56% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Elmwood Park has the smallest proportion of has some college and in poverty at 1% of the total.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Elmwood Park shows it has a Gini Index of 34.8% which is the smallest when ranked by the gini index of all the other places in the local area.

Elmwood Park Wisconsin Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Elmwood Park or elsewhere.) Elmwood Park has the largest proportion of people who carpooled at 9% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Elmwood Park has the percentage of people who leave for work between 12am to 5am less than most other places in the area at 1% of the total. Second, it has the smallest proportion of people who leave for work between 5am to 530am at 2% of the total. Third, it has the largest proportion of people who leave for work between 630 am to 7am at 32% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 730 am to 8am at 3% of the total. In addition, it has the smallest proportion of people who leave for work between 8am to 830am at 2% of the total. Furthermore, it has the largest proportion of people who leave for work between 10am to 11am at 6% 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. Elmwood Park has the percentage of people with commute time of less than 5 minutesutes in the mid point range of other places in the metropolitan area at 15% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 19% of the total and is ranked #2. The only larger city being Sturtevant with 19%. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 22% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 15 to 19 minutes at 8% of the total. In addition, it has the smallest proportion of people with commute time between 20 to 24 minutes at 4% of the total. Furthermore, it has the smallest proportion of people with commute time between 40 to 44 minutes at 4% of the total.

The average commute time is shown in Figure 37. Elmwood Park depicts it has a Avg Commute Time of 23 which is in the mid range of other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Elmwood Park depicts average commute time in minutes for men about 22.1% smaller as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Elmwood Park has the smallest proportion of no vehicle available at 4% of the total. Second, it has the largest proportion of 1 vehicle available at 70% of the total and is ranked #1. Third, it has less than most other places in the metro area in order of 3 vehicles available at 6% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Elmwood Park depicts it has a Work in city or place where live of 11% which is the smallest as measured by people who both work and live in the same city of all the other places in the local area. The city with the highest people who both work and live in the same city in the area is Racine which shows a people who both work and live in the same city of 40% (approximately 3.6 times bigger). Comparing people who both work and live in the same city to the United States average of 44%, Elmwood Park is approximately a quarter the size. Also, versus the state of Wisconsin, people who both work and live in the same city of 41%, Elmwood Park is approximately a quarter the size.

Elmwood Park Wisconsin 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. Elmwood Park depicts it has the hightest median earnings of $93,125 for the management, business, and financial occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Elmwood Park indicates it has the hightest median earnings of $123,125 for the management, business, and financial occupations grouping. The table in Figure 48, shows Elmwood Park employment data in terms of job categories and salary data.

Elmwood Park Wisconsin 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. Elmwood Park shows it has the hightest entrepreneurs of 64% for the self employed in sales and office related businesses grouping.

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. Elmwood Park shows it has the hightest entrepreneurs of 64% for the self employed in retail trade grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Elmwood Park shows it has a Self Employment Income of $15,160 which is the smallest in order of average annual self employment income of all the other places in the area. The city with the highest average annual self employment income in the area is Wind Point which depicts an average annual self employment income of $68,460 (approximately 4.5 times bigger). Comparing average annual self employment income to the United States average of $42,141, Elmwood Park is approximately a third the size. Also, versus the state of Wisconsin, average annual self employment income of $36,338, Elmwood Park is approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Elmwood Park shows total number of self-employed men 18.2% larger as the total number of self-employed women.