Lake Nebagamon Wisconsin Income Charts

This section shows the Lake Nebagamon Wisconsin economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lake Nebagamon shows it has a Median earnings of $62,857 which is the highest of all places in the greater Lake Nebagamon region. Comparing median earnings per worker to the United States average of $50,459, Lake Nebagamon is 24.6% larger. Also, in contrast to the state of Wisconsin, median earnings per worker of $49,517, Lake Nebagamon is 26.9% 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 $68,750 which is the most of all places in the greater Lake Nebagamon region. Comparing median household income to the United States average of $64,994, Lake Nebagamon is only about 5.8% larger. Also, measured against the state of Wisconsin, median household income of $63,293, Lake Nebagamon is 8.6% 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 23.0% 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 40.6 which is the second most average hours of all the places in the greater Lake Nebagamon region. The city with the highest average hours in the area is Brule CDP which depicts an average hours of 41.9 (only about 3.2% 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 $29.77 which is the largest of all places in the greater Lake Nebagamon region. Comparing average hourly earnings to the United States average of $25.01, Lake Nebagamon is 19.0% larger. Also, in comparison with the state of Wisconsin, average hourly earnings of $24.67, Lake Nebagamon is 20.7% 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 depicts it has a Self Employed of 10.3% which is more than all other places in the greater Lake Nebagamon region.

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-25 to 44 years at $89,318 of the total and is ranked #2. The only larger city being Brule CDP with $91,250. Second, it has the largest proportion of median income-45 to 64 years at $55,804 of the total and is ranked #1.

Figure 9 breaks down the source of income and Lake Nebagamon has the largest proportion of income from wages at 11.4% of the total and is ranked #1. Second, it has the largest proportion of self employment income at 20.6% 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 40.1% 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 Brule CDP which depicts a households with retirement income of 43.8% (9.1% 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 $90,000 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 depicts 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 depicts that from January 2010 to before the disasterous COVID-19 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 1.8% This represents a decrease in the monthly unemployment rate of 58.1%. 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 Wuhan virus 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 14,207 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 Lake Nebagamon depicts it has a Unemployment Rate of 3.1% which is in the center range of other places in the metropolitan area. The city with the highest unemployment rate in the area is Superior which shows a rate of 5.6% (78.5% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lake Nebagamon shows it has a Labor Force Participation of 50.3% which is the second smallest in terms of participation rate of all the other places in the local 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 4.5 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 Nebagamon area. Lake Nebagamon depicts it has a Single Earner Families of 27.1% which is the third most families with a single earner of all other places in the greater Lake Nebagamon region. The city with the highest families with a single earner in the area is Solon Springs which depicts a single earners rate of 40.1% (48.4% 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 22.7% which is less than most other places in the local 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 46.2% (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 64 which is the third most of all other places in the local area. The city with the highest total people earning less than the poverty level in the area is Iron River CDP which depicts a total people earning less than the poverty level of 129 (about twice as large).

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 7.7% which is less than most other places in the 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 30.2% (approximately 3.9 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Lake Nebagamon has one of the largest proportions of person in poverty 35 to 54 years at 56% of the total and is ranked #2. The only larger city being Brule CDP with 100%. Second, it has the largest proportion of person in poverty 55 to 64 years at 34% 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 largest proportion of less than highschool in poverty at 12% of the total and is ranked #1. Second, it has the second smallest in terms of less than highschool in poverty of all the other places in the area when ranked by highschool graduate and in poverty at 4% of the total. Third, it has one of the largest proportions of has some college and in poverty at 9% of the total and is ranked #2. The only larger city being Solon Springs with 9%. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Lake Nebagamon has one of the largest proportions of people who are in poverty and unemployed at 15.6% of the total and is ranked #3. Only #2 Solon Springs (17.5%), and #1 Brule CDP (100.0%) are larger. 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 5.6% which is in the mid range of other places in the greater region. The city with the highest households with public assistance in the area is Iron River CDP which depicts a households with public assistance of 19.8% (approximately 3.5 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 41.0% which is in the mid point range of other places in the metro area.

Lake Nebagamon Wisconsin 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 Nebagamon 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 Nebagamon 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 Lake Nebagamon or elsewhere.) Lake Nebagamon has the smallest proportion of people who carpooled at 1% of the total. Second, it has the largest proportion of people who walked at 6% 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 830 am to 9am at 7% of the total and is ranked #1. Third, 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 one of the largest proportions of people with commute time of less than 5 minutesutes at 11% of the total and is ranked #3. Only #2 Iron River CDP (14%), and #1 Superior (19%) are larger. Second, it has in the center range of other places in the local area when sorted by people with commute time between 5 to 9 minutes at 8% of the total. Third, it has less than most other places in the local area when ranked by people with commute time between 10 to 14 minutes at 1% of the total. Also, it has the largest proportion of people with commute time between 30 to 34 minutes at 12% 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 12% 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 average commute time of all other places in the greater Lake Nebagamon region. Figure 38 shows the difference between male versus female commuting time. Lake Nebagamon shows average commute time in minutes for men 6.3% 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 less than most other places in the metro area at 12% of the total. Second, it has less than most other places in the local area in terms of 1 vehicle available at 37% of the total. Third, it has one of the largest proportions of 2 vehicles available at 35% of the total and is ranked #3. Only #2 Brule CDP (40%), and #1 Gordon CDP (49%) are larger. Also, it has one of the largest proportions of 4 vehicles available at 7% of the total and is ranked #2. The only larger city being Solon Springs with 8%. 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 21% which is the third most people who both work and live in the same city of all other places in the greater Lake Nebagamon region. 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 42% (about twice as large). Comparing people who both work and live in the same city to the United States average of 43%, Lake Nebagamon is approximately half the size. Also, measured against the state of Wisconsin, people who both work and live in the same city of 40%, Lake Nebagamon is approximately half 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 depicts it has the hightest median earnings of $135,125 for the earnings-education, legal, community service, arts, media occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Lake Nebagamon shows it has the hightest median earnings of $73,750 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

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Lake Nebagamon depicts it has the hightest entrepreneurs of 100% 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 Nebagamon shows it has the hightest entrepreneurs of 100% for the self employed in professional, scientific, management, administrative services group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lake Nebagamon shows it has a Self Employment Income of $92,381 which is the most of all places in the greater Lake Nebagamon region. Comparing average annual self employment income to the United States average of $40,101, Lake Nebagamon is approximately 2.3 times bigger. Also, compared with the state of Wisconsin, average annual self employment income of $33,875, Lake Nebagamon 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 Nebagamon depicts total number of self-employed men substantially bigger as the total number of self-employed women.