Lake Mills Wisconsin Income Charts

This section shows the Lake Mills Wisconsin economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Mills depicts it has a Median earnings of $50,770 which is less than most other places in the greater region. The city with the highest median earnings per worker in the area is Lake Ripley CDP which depicts a median earnings of $66,625 (31.2% larger). Comparing median earnings per worker to the United States average of $49,041, Lake Mills is only about 3.5% larger. Also, in comparison with the state of Wisconsin, median earnings per worker of $48,208, Lake Mills is only about 5.3% 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 $70,239 which is the second smallest as measured by median household income of all the other places in the area. The city with the highest median household income in the area is Lake Ripley CDP which shows a median income of $98,482 (40.2% larger). Comparing median household income to the United States average of $62,843, Lake Mills is 11.8% larger. Also, measured against the state of Wisconsin, median household income of $61,747, Lake Mills is 13.8% larger.

The next section examines a variety of different income statistics for the Lake Mills metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $50,000 and $74,999 at 13.1% of the total and is ranked #1. Second, it has the smallest proportion of earnings between $75,000 and $99,999 at 1.9% 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 39.2 which is the second smallest as measured by average hours of all the other places in the greater region. The city with the highest average hours in the area is Jefferson which shows an average hours of 41.2 (only about 5.1% 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 $24.91 which is the third most average hourly earnings of all other places in the greater Lake Mills region. The city with the highest average hourly earnings in the area is Lake Ripley CDP which depicts an average hourly earnings of $32.11 (28.9% larger). Comparing average hourly earnings to the United States average of $24.31, Lake Mills is only slightly larger. Also, compared with the state of Wisconsin, average hourly earnings of $24.02, Lake Mills is only about 3.7% larger.

Figure 7 examines the number of self employed people in the Lake Mills metro area based on the number of people who reported any self employment income. Lake Mills depicts it has a Self Employed of 8.2% which is the second smallest when ranked by percentage of people self employed of all the other places in the area. The city with the highest percentage of people self employed in the area is Cambridge which shows a percentage self employed of 13.8% (68.7% 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 greater region at $80,186 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $73,458 of the total. Third, it has the second smallest when sorted by median income for those under 25 years of age of all the other places in the local area when ranked by median income-45 to 64 years at $33,589 of the total.

Figure 9 breaks down the source of income and Lake Mills has the smallest proportion of income from wages at 1.7% 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 15.6% which is the second smallest as measured 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 Lake Ripley CDP which depicts a households with retirement income of 21.4% (37.6% 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 the second smallest in order of overall family income of all the other places in the local area at $84,191 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. Lake Mills shows it has the hightest cost of 103.1 for the cost of healthcare category.

Lake Mills Wisconsin 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 Coronavirus Pandemic the monthly unemployment rate went from 8.0% to 2.7% in February 2020. This represents a decrease in the monthly unemployment rate of 66.2%. Since that time, the monthly unemployment rate has gone to 4.2% This represents an increase in the monthly unemployment rate of 55.6%. 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 February 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 17,671 to 20,162 in February 2020. This represents an increase in the monthly labor force participation of 14.1%. Since that time, the monthly labor force participation has gone to 20,666 This represents an increase in the monthly labor force participation of 2.5%.

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 Lake Mills depicts it has a Unemployment Rate of 0.9% which is the smallest in order of unemployment rate of all the other places in the metro area. The city with the highest unemployment rate in the area is Deerfield which depicts a rate of 4.2% (approximately 4.9 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Mills depicts it has a Labor Force Participation of 72.1% which is less than most other places in the local 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). Lake Mills has the smallest proportion of employed at 0.9% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Mills shows full time employees approximately 4.1 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 Mills area. Lake Mills depicts it has a Single Earner Families of 18.2% which is the third most families with a single earner of all other places in the greater Lake Mills region. The city with the highest families with a single earner in the area is Johnson Creek which depicts a single earners rate of 20.3% (11.7% larger). The percentage of families with no one working is depicted in Figure 22. Lake Mills shows it has a Families with No One Working of 14.1% which is in the mid point range of other places in the greater region. The city with the highest families with no one working in the area is Cambridge which shows a families with no worker of 16.0% (13.4% larger).

Lake Mills Wisconsin Poverty Charts

The next section details economy analysis about poverty for residents of the Lake Mills 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 Mills depicts it has a Total In Poverty of 460 which is the second most total people earning less than the poverty level of all the places in the greater Lake Mills region. The city with the highest total people earning less than the poverty level in the area is Jefferson which depicts a total people earning less than the poverty level of 541 (17.6% larger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake Mills depicts it has a Percent of Population In Poverty of 7.9% which is more than all other places in the greater Lake Mills region.

In Figure 25 people who are in poverty are broken out by age group. Lake Mills has the percentage of person in poverty 12 to 17 years the second smallest when sorted by person in poverty under 12 years of all the other places in the greater region at 21% of the total. Second, it has less than most other places in the area when ranked by person in poverty 55 to 64 years at 9% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lake Mills has the largest proportion of american indian poverty rate at 25% of the total and is ranked #1. Second, it has the largest proportion of hawaiian poverty rate at 34% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Lake Mills has one of the largest proportions of married with children and in poverty at 36% of the total and is ranked #2. The only larger city being Lake Ripley CDP with 43%. Second, it has one of the largest proportions of unmarried with children and in poverty at 33% of the total and is ranked #2. The only larger city being Lake Ripley CDP with 73%. Third, it has the largest proportion of unmarried female with children and in poverty at 44% 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 Mills depicts it has a Public Assistance Percent of 13.4% which is at the top of all other places in the greater Lake Mills region.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake Mills depicts it has a Gini Index of 35.3% which is the second smallest in order of the gini index of all the other places in the area.

Lake Mills Wisconsin Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lake Mills or elsewhere.) Lake Mills has the smallest proportion of people who drove alone at 80% of the total. Second, it has the largest proportion of people who bike 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 Mills has the percentage of people who leave for work between 12am to 5am the second smallest when ranked by people who leave for work between 12am to 5am of all the other places in the local area at 4% of the total. Second, it has the largest proportion of people who leave for work between 8am to 830am at 5% 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 Mills has one of the largest proportions of people with commute time of less than 5 minutesutes at 17% of the total and is ranked #2. The only larger city being Jefferson with 20%. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 8% of the total and is ranked #2. The only larger city being Jefferson with 14%. Third, it has the smallest proportion of people with commute time between 15 to 19 minutes at 7% of the total. Also, it has the largest proportion of people with commute time between 35 to 39 minutes at 10% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 60 to 89 minutes at 2% of the total and is ranked #1.

The average commute time is shown in Figure 37. Lake Mills depicts it has a Avg Commute Time of 28 which is ranked #1 of all places in the greater Lake Mills region. Figure 38 shows the difference between male versus female commuting time. Lake Mills depicts average commute time in minutes for men 27.0% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake Mills has one of the largest proportions of no vehicle available at 18% of the total and is ranked #2. The only larger city being Cambridge with 19%. Second, it has the smallest proportion of 3 vehicles available at 2% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake Mills depicts it has a Work in city or place where live of 32% which is the highest of all places in the greater Lake Mills region. Comparing people who both work and live in the same city to the United States average of 42%, Lake Mills is approximately three-fourths the size. Also, compared to the state of Wisconsin, people who both work and live in the same city of 40%, Lake Mills is about 22.5% smaller.

Lake Mills 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. Lake Mills shows it has the hightest median earnings of $77,969 for the management, business, and financial occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Mills shows it has the hightest median earnings of $82,647 for the earnings-computer, engineering, and science occupations category. The table in Figure 48, shows Lake Mills employment data in terms of job categories and salary data.

Lake Mills 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. Lake Mills depicts it has the hightest entrepreneurs of 64% 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. Lake Mills depicts it has the hightest entrepreneurs of 36% for the self employed in retail trade classification.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake Mills shows it has a Self Employment Income of $15,642 which is the smallest when sorted by average annual self employment income of all the other places in the metro area. The city with the highest average annual self employment income in the area is Lake Ripley CDP which shows an average annual self employment income of $93,676 ( very much bigger). Comparing average annual self employment income to the United States average of $39,154, Lake Mills is approximately half the size. Also, measured against the state of Wisconsin, average annual self employment income of $33,386, Lake Mills is approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Mills shows total number of self-employed men 60.0% larger as the total number of self-employed women.