Lakewood CDP Wisconsin Income Charts

This section shows the Lakewood CDP Wisconsin economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lakewood CDP shows it has a Median earnings of $31,500 which is the second smallest when ranked by median earnings per worker of all the other places in the metro area. The place with the highest median earnings per worker in the area is Suring which depicts a median earnings of $39,792 (26.3% larger). Comparing median earnings per worker to the United States average of $49,041, Lakewood CDP is approximately three-fourths the size. Also, measured against the state of Wisconsin, median earnings per worker of $48,208, Lakewood CDP is approximately three-fourths the size.

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 $42,279 which is the second most median income of all the places in the greater Lakewood CDP region. The place with the highest median household income in the area is Townsend CDP which depicts a median income of $63,000 (49.0% larger). Comparing median household income to the United States average of $62,843, Lakewood CDP is approximately three-fourths the size. Also, versus the state of Wisconsin, median household income of $61,747, Lakewood CDP is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Lakewood CDP metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 11.3% of the total and is ranked #2. The only larger place being Wabeno CDP with 25.6%. Second, it has the second smallest in terms of median earnings of less than $10,000 of all the other places in the local area when sorted by earnings between $10,000 and $14,999 at 5.1% of the total. Third, it has one of the largest proportions of earnings between $15,000 and $19,999 at 50.8% of the total and is ranked #2. The only larger place being Townsend CDP with 91.9%.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 41.4 which is the second most average hours of all the places in the greater Lakewood CDP region. The place with the highest average hours in the area is Townsend CDP which depicts an average hours of 49.7 (20.0% 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 $14.63 which is the second smallest when sorted by average hourly earnings of all the other places in the area. The place with the highest average hourly earnings in the area is Wabeno CDP which depicts an average hourly earnings of $20.83 (42.4% larger). Comparing average hourly earnings to the United States average of $24.31, Lakewood CDP is approximately three-fourths the size. Also, compared to the state of Wisconsin, average hourly earnings of $24.02, Lakewood CDP is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Lakewood CDP metro area based on the number of people who reported any self employment income. Lakewood CDP depicts it has a Self Employed of 20.2% which is the highest of all places in the greater Lakewood CDP region.

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $112,946 of the total and is ranked #1. Second, it has one of the largest proportions of median income-25 to 44 years at $47,813 of the total and is ranked #3. Only #2 Wabeno CDP ($52,143), and #1 Townsend CDP ($76,429) are larger. Third, it has one of the largest proportions of median income-45 to 64 years at $31,250 of the total and is ranked #3. Only #2 White Lake ($33,750), and #1 Townsend CDP ($36,250) are larger.

Figure 9 breaks down the source of income and Lakewood CDP has the largest proportion of income from wages at 6.0% 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 28.5% which is the third most households with retirement income of all other places in the greater Lakewood CDP region. The place with the highest households with retirement income in the area is Townsend CDP which depicts a households with retirement income of 31.2% (9.7% 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 $50,000 of the total and is ranked #3. Only #2 White Lake ($52,750), and #1 Townsend CDP ($64,000) 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. Lakewood CDP depicts it has the hightest cost of 101.3 for the cost of healthcare grouping.

Lakewood CDP 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 Coronavirus Pandemic the monthly unemployment rate went from 13.6% to 3.6% in March 2020. This represents a decrease in the monthly unemployment rate of 73.5%. Since that time, the monthly unemployment rate has gone to 4.2% This represents an increase in the monthly unemployment rate of 16.7%. 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 disasterous COVID Pandemic the monthly labor force participation went from 57,488 to 52,407 in March 2020. This represents a decrease in the monthly labor force participation of 8.8%. Since that time, the monthly labor force participation has gone to 55,187 This represents an increase in the monthly labor force participation of 5.3%.

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 Lakewood CDP indicates it has a Unemployment Rate of 5.6% which is more than all other places in the greater Lakewood CDP region. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Lakewood CDP depicts it has a Labor Force Participation of 53.4% which is the second most participation rates of all the places in the greater Lakewood CDP region.

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). Lakewood CDP has the largest proportion of employed at 5.6% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lakewood CDP shows full time employees markedly 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 Lakewood CDP area. Lakewood CDP shows it has a Single Earner Families of 25.6% which is the second smallest when ranked by 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 Laona CDP which depicts a single earners rate of 40.5% (58.1% larger). The percentage of families with no one working is depicted in Figure 22. Lakewood CDP depicts it has a Families with No One Working of 46.2% which is the second most families with no one working of all the places in the greater Lakewood CDP region. The place with the highest families with no one working in the area is Wabeno CDP which depicts a families with no worker of 47.5% (only about 3.0% larger).

Lakewood CDP Wisconsin Poverty Charts

The next section details economy analysis about poverty for residents of the Lakewood 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. Lakewood CDP depicts it has a Total In Poverty of 34 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 place with the highest total people earning less than the poverty level in the area is Laona CDP which depicts a total people earning less than the poverty level of 117 (approximately 3.4 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Lakewood CDP shows it has a Percent of Population In Poverty of 9.0% which is the second smallest when ranked by percent of people earning less than the poverty level of all the other places in the greater region. The place with the highest percent of people earning less than the poverty level in the area is Wabeno CDP which shows a percent of people in poverty of 30.4% (approximately 3.4 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Lakewood CDP has the percentage of person in poverty 12 to 17 years less than most other places in the local area at 12% of the total. Second, it has the largest proportion of person in poverty 18 to 34 years at 32% of the total and is ranked #1. Third, it has one of the largest proportions of person in poverty 55 to 64 years at 47% of the total and is ranked #2. The only larger place being Townsend CDP with 71%.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Lakewood CDP has the largest proportion of hawaiian poverty rate at 100% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Lakewood CDP has the percentage of married with children and in poverty the second smallest in order of married with children and in poverty of all the other places in the local area at 9% of the total. Second, it has less than most other places in the local area as measured by unmarried with children and in poverty at 9% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Lakewood CDP has the percentage of less than highschool in poverty the second smallest as measured by less than highschool in poverty of all the other places in the greater region at 4% of the total. 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.) Lakewood CDP depicts it has a Public Assistance Percent of 5.2% which is the smallest in order of households with public assistance of all the other places in the metro area. The place with the highest households with public assistance in the area is Suring which depicts a households with public assistance of 32.6% ( very much bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lakewood CDP shows it has a Gini Index of 32.1% which is the smallest in order of the gini index of all the other places in the surrounding region.

Lakewood CDP 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 Lakewood 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.) Lakewood CDP has one of the largest proportions of people who bicycle or walk to work at 25% of the total and is ranked #2. The only larger place being Townsend CDP with 27%. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Lakewood CDP or elsewhere.) Lakewood CDP has the smallest proportion of people who drove alone at 70% of the total. Second, it has the largest proportion of people who took a taxicab, motorcycle or other at 2% of the total and is ranked #1. Third, it has one of the largest proportions of people who work from home at 25% of the total and is ranked #2. The only larger place being Townsend CDP with 27%.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Lakewood CDP has the smallest proportion of people who leave for work between 6am to 630am at 7% of the total. Second, it has the largest proportion of people who leave for work between 730 am to 8am at 12% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 830 am to 9am at 4% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 11am to 12noon at 33% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 12noon to 4pm at 15% 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. Lakewood CDP has one of the largest proportions of people with commute time of less than 5 minutesutes at 30% of the total and is ranked #2. The only larger place being Townsend CDP with 41%. Second, it has the smallest proportion of people with commute time between 5 to 9 minutes at 2% of the total. Third, it has one of the largest proportions of people with commute time between 10 to 14 minutes at 17% of the total and is ranked #2. The only larger place being Laona CDP with 21%.

The average commute time is shown in Figure 37. Lakewood CDP shows it has a Avg Commute Time of 16 which is the second smallest in terms of average commute time of all the other places in the local area. Figure 38 shows the difference between male versus female commuting time. Lakewood CDP depicts average commute time in minutes for men approximately a third the size as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Lakewood CDP has one of the largest proportions of no vehicle available at 24% of the total and is ranked #3. Only #2 Wabeno CDP (30%), and #1 Mountain CDP (32%) are larger. Second, it has one of the largest proportions of 1 vehicle available at 54% of the total and is ranked #3. Only #2 Suring (56%), and #1 Townsend CDP (78%) are larger. Third, it has in the mid range of other places in the metro area as measured by 2 vehicles available at 22% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Lakewood CDP depicts it has a Work in city or place where live of 46% which is ranked #1 of all places in the greater Lakewood CDP region. Comparing people who both work and live in the same city to the United States average of 42%, Lakewood CDP is 9.9% larger. Also, compared with the state of Wisconsin, people who both work and live in the same city of 40%, Lakewood CDP is 16.1% larger.

Lakewood CDP 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. Lakewood CDP depicts it has the hightest median earnings of $31,912 for the earnings-natural resources, construction, maintenance occupations group. Similarly, Figure 47 shows the median earnings of women for the job categories and Lakewood CDP shows it has the hightest median earnings of $14,167 for the earnings-sales and office occupations category. The table in Figure 48, shows Lakewood CDP employment data in terms of job categories and salary data.

Lakewood CDP 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. Lakewood CDP depicts it has the hightest entrepreneurs of 80% for the self employed in service 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. Lakewood CDP depicts it has the hightest entrepreneurs of 80% for the self employed in arts, entertainment, recreation, accommodation and food services category.

In Figure 51 the average annual self employment/entrepreneur income is shown. Lakewood CDP depicts it has a Self Employment Income of $15,095 which is the third most average annual self employment income of all other places in the greater Lakewood CDP region. The place with the highest average annual self employment income in the area is White Lake which shows an average annual self employment income of $36,940 (approximately 2.4 times bigger). Comparing average annual self employment income to the United States average of $39,154, Lakewood CDP is approximately a third the size. Also, compared with the state of Wisconsin, average annual self employment income of $33,386, Lakewood CDP is approximately half the size.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Lakewood CDP depicts total number of self-employed men approximately a fifth the size as the total number of self-employed women.