Lake Nebagamon Wisconsin Income Charts

This section shows the Lake Nebagamon 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 Nebagamon depicts it has a Median earnings of $62,528 which is the highest of all places in the greater Lake Nebagamon region. Comparing median earnings per worker to the United States average of $49,041, Lake Nebagamon is 27.5% larger. Also, measured against the state of Wisconsin, median earnings per worker of $48,208, Lake Nebagamon is 29.7% 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 $70,000 which is the second most median income of all the places in the greater Lake Nebagamon region. The city with the highest median household income in the area is Superior which depicts a median income of $70,357 ( about the same size). Comparing median household income to the United States average of $62,843, Lake Nebagamon is 11.4% larger. Also, measured against the state of Wisconsin, median household income of $61,747, Lake Nebagamon is 13.4% larger.

The next section examines a variety of different income statistics for the Lake Nebagamon metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $15,000 and $19,999 at 21.7% of the total. Second, it has the largest proportion of earnings between $20,000 and $49,999 at 30.0% 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 41.6 which is the largest of all places in the greater Lake Nebagamon region. 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 $28.91 which is the most of all places in the greater Lake Nebagamon region. Comparing average hourly earnings to the United States average of $24.31, Lake Nebagamon is 18.9% larger. Also, in comparison with the state of Wisconsin, average hourly earnings of $24.02, Lake Nebagamon is 20.4% larger.

Figure 7 examines the number of self employed people in the Lake Nebagamon metro area based on the number of people who reported any self employment income. Lake Nebagamon shows it has a Self Employed of 10.0% which is the third most people self employed of all other places in the greater Lake Nebagamon region. The city with the highest percentage of people self employed in the area is Brule CDP which depicts a percentage self employed of 12.7% (27.9% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the mid range of other places in the local area at $78,125 of the total. Second, it has one of the largest proportions of median income-25 to 44 years at $77,361 of the total and is ranked #2. The only larger city being Superior with $91,750. Third, it has the largest proportion of median income-45 to 64 years at $56,058 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 37.4% which is the second most households with retirement income of all the places in the greater Lake Nebagamon region. The city with the highest households with retirement income in the area is Gordon CDP which depicts a households with retirement income of 41.7% (11.3% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $86,458 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. Lake Nebagamon shows it has the hightest cost of 105.5 for the cost of healthcare category.

Lake Nebagamon 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 January 2010 to before the disasterous COVID Pandemic the monthly unemployment rate went from 8.9% to 4.3% in March 2020. This represents a decrease in the monthly unemployment rate of 51.7%. Since that time, the monthly unemployment rate has gone to 4.6% This represents an increase in the monthly unemployment rate of 7.0%. 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 Coronavirus Pandemic the monthly labor force participation went from 14,766 to 14,052 in March 2020. This represents a decrease in the monthly labor force participation of 4.8%. Since that time, the monthly labor force participation has gone to 14,628 This represents an increase in the monthly labor force participation of 4.1%.

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 Nebagamon depicts it has a Unemployment Rate of 3.0% which is less than most other places in the local area. The city with the highest unemployment rate in the area is Iron River CDP which depicts a rate of 4.4% (48.0% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Nebagamon indicates it has a Labor Force Participation of 54.6% which is the second smallest as measured by participation rate of all the other places in the metro area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lake Nebagamon depicts full time employees approximately 3.9 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 Nebagamon area. Lake Nebagamon depicts it has a Single Earner Families of 30.3% which is the second most families with a single earner of all the places in the greater Lake Nebagamon region. The city with the highest families with a single earner in the area is Gordon CDP which depicts a single earners rate of 32.4% (7.2% larger). The percentage of families with no one working is depicted in Figure 22. Lake Nebagamon shows it has a Families with No One Working of 20.6% 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 Iron River CDP which shows a families with no worker of 38.5% (about twice as large).

Lake Nebagamon Wisconsin Poverty Charts

The next section details economy analysis about poverty for residents of the Lake Nebagamon 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 Nebagamon depicts it has a Total In Poverty of 75 which is the third most of all other places in the metro area. The city with the highest total people earning less than the poverty level in the area is Iron River CDP which shows a total people earning less than the poverty level of 123 (64.0% larger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lake Nebagamon depicts it has a Percent of Population In Poverty of 8.3% which is less than most other places in the metro area. The city with the highest percent of people earning less than the poverty level in the area is Gordon CDP which depicts a percent of people in poverty of 30.1% (approximately 3.6 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Lake Nebagamon has the largest proportion of person in poverty 35 to 54 years at 56% of the total and is ranked #1. Second, it has the largest proportion of person in poverty 55 to 64 years at 33% 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. Lake Nebagamon has the percentage of highschool graduate and in poverty the second smallest when ranked by less than highschool in poverty of all the other places in the local area at 4% of the total. Second, it has the largest proportion of has some college and in poverty at 11% 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 Nebagamon shows it has a Public Assistance Percent of 6.9% which is less than most other places in the area. The city with the highest households with public assistance in the area is Gordon CDP which depicts a households with public assistance of 22.2% (approximately 3.2 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lake Nebagamon depicts it has a Gini Index of 40.2% which is in the middle range of other places in the greater region.

Lake Nebagamon Wisconsin Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lake Nebagamon or elsewhere.) Lake Nebagamon has the largest proportion of people who took a taxicab, motorcycle or other at 3% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Lake Nebagamon has the smallest proportion of people who leave for work between 12am to 5am at 2% of the total. Second, it has the largest proportion of people who leave for work between 630 am to 7am at 31% of the total and is ranked #1. Third, it has the smallest proportion of people who leave for work between 7am to 730am at 5% of the total. Also, it has the largest proportion of people who leave for work between 830 am to 9am at 5% of the total and is ranked #1. In addition, it has the smallest proportion of people who leave for work between 12noon to 4pm at 1% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Lake Nebagamon has the percentage of people with commute time of less than 5 minutesutes less than most other places in the metro area at 10% of the total. Second, it has less than most other places in the metro area when sorted by people with commute time between 5 to 9 minutes at 6% of the total. Third, it has less than most other places in the greater region when sorted by people with commute time between 10 to 14 minutes at 4% of the total. Also, it has the largest proportion of people with commute time between 35 to 39 minutes at 17% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 45 to 59 minutes at 10% of the total and is ranked #1.

The average commute time is shown in Figure 37. Lake Nebagamon depicts it has a Avg Commute Time of 32 which is the third most of all other places in the greater region. Figure 38 shows the difference between male versus female commuting time. Lake Nebagamon depicts average commute time in minutes for men 16.1% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lake Nebagamon has the percentage of no vehicle available in the middle range of other places in the surrounding region at 14% of the total. Second, it has less than most other places in the surrounding region in terms of 1 vehicle available at 32% of the total. Third, it has one of the largest proportions of 2 vehicles available at 36% of the total and is ranked #3. Only #2 Brule CDP (36%), and #1 Gordon CDP (45%) are larger. Also, it has one of the largest proportions of 3 vehicles available at 16% of the total and is ranked #2. The only larger city being Iron River CDP with 26%. In addition, it has the second smallest when sorted by no vehicle available of all the other places in the metro area when ranked by 4 vehicles available at 3% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lake Nebagamon shows it has a Work in city or place where live of 13% which is the second smallest in order of people who both work and live in the same city of all the other places in the area. The city with the highest people who both work and live in the same city in the area is Iron River CDP which depicts a people who both work and live in the same city of 44% (approximately 3.3 times bigger). Comparing people who both work and live in the same city to the United States average of 42%, Lake Nebagamon is approximately a third the size. Also, compared to the state of Wisconsin, people who both work and live in the same city of 40%, Lake Nebagamon is approximately a third the size.

Lake Nebagamon 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 Nebagamon shows it has the hightest median earnings of $76,500 for the earnings-natural resources, construction, maintenance occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Nebagamon depicts it has the hightest median earnings of $87,917 for the management, business, and financial occupations grouping. The table in Figure 48, shows Lake Nebagamon employment data in terms of job categories and salary data.

Lake Nebagamon Wisconsin Self Employment Charts

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake Nebagamon depicts it has a Self Employment Income of $51,279 which is the largest of all places in the greater Lake Nebagamon region. Comparing average annual self employment income to the United States average of $39,154, Lake Nebagamon is 31.0% larger. Also, compared to the state of Wisconsin, average annual self employment income of $33,386, Lake Nebagamon is 53.6% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lake Nebagamon depicts total number of self-employed men 4 times bigger as the total number of self-employed women.