Lakewood CDP Wisconsin Income Charts

This section shows the Lakewood CDP Wisconsin economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Lakewood CDP depicts it has a Median earnings of $32,279 which is in the center range of other places in the local area. The place with the highest median earnings per worker in the area is Suring which depicts a median earnings of $45,208 (40.1% larger). Comparing median earnings per worker to the United States average of $50,459, Lakewood CDP is approximately three-fourths the size. Also, in contrast to the state of Wisconsin, median earnings per worker of $49,517, 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 $43,125 which is the third most median income of all other 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 $57,708 (33.8% larger). Comparing median household income to the United States average of $64,994, Lakewood CDP is approximately three-fourths the size. Also, compared to the state of Wisconsin, median household income of $63,293, 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 has the percentage of earnings less than $10,000 less than most other places in the greater region at 7.0% of the total. Second, it has the second smallest in order of median earnings of less than $10,000 of all the other places in the metro area in order of earnings between $10,000 and $14,999 at 4.3% 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 85.7%.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 45.3 which is the second most of all the places in the metropolitan area. The place with the highest average hours in the area is Townsend CDP which depicts an average hours of 49.0 (8.2% 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 $13.70 which is the second smallest in terms of average hourly earnings of all the other places in the metropolitan area. The place with the highest average hourly earnings in the area is Suring which depicts an average hourly earnings of $24.42 (78.2% larger). Comparing average hourly earnings to the United States average of $25.01, Lakewood CDP is approximately half the size. Also, compared to the state of Wisconsin, average hourly earnings of $24.67, Lakewood CDP is approximately half 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 shows it has a Self Employed of 22.9% which is the largest of all places in the greater Lakewood CDP region.

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-25 to 44 years in the mid range of other places in the local area at $48,750 of the total. Second, it has less than most other places in the metro area when ranked by median income-45 to 64 years at $30,536 of the total.

Figure 9 breaks down the source of income and Lakewood CDP has the largest proportion of income from wages at 7.0% of the total and is ranked #1. Second, it has the largest proportion of social security at 2.6% 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 30.0% 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 44.1% (46.9% 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 in the mid range of other places in the surrounding region at $51,875 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. 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 COVID-19 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 1.9% This represents a decrease in the monthly unemployment rate of 47.2%. 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 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 54,212 This represents an increase in the monthly labor force participation of 3.4%.

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 shows it has a Unemployment Rate of 8.5% which is the highest of all places in the local area. 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 58.9% which is the largest of all 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 8.5% of the total and is ranked #1. Second, it has the smallest proportion of unemployed at 41.1% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Lakewood CDP depicts full time employees substantially 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 depicts it has a Single Earner Families of 34.7% which is the third most families with a single earner of all other places in the greater Lakewood CDP region. The place with the highest families with a single earner in the area is Wabeno CDP which depicts a single earners rate of 50.0% (44.2% 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 34.7% which is the third most families with no one working of all other places in the greater Lakewood CDP region. The place with the highest families with no one working in the area is White Lake which depicts a families with no worker of 41.8% (20.6% 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 shows it has a Total In Poverty of 30 which is the second smallest as measured by total people earning less than the poverty level of all the other places in the metro area. The place with the highest total people earning less than the poverty level in the area is Wabeno CDP which depicts a total people earning less than the poverty level of 118 (approximately 3.9 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 depicts it has a Percent of Population In Poverty of 8.6% which is the smallest in terms of percent of people earning less than the poverty level of all the other places in the surrounding region. The place with the highest percent of people earning less than the poverty level in the area is Wabeno CDP which depicts a percent of people in poverty of 40.8% (approximately 4.7 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 under 12 years less than most other places in the local area at 3% of the total. Second, it has less than most other places in the local area as measured by person in poverty 12 to 17 years at 10% of the total. Third, it has one of the largest proportions of person in poverty 18 to 34 years at 33% of the total and is ranked #2. The only larger place being Townsend CDP with 39%. Also, it has one of the largest proportions of person in poverty 55 to 64 years at 53% of the total and is ranked #2. The only larger place being Townsend CDP with 61%.

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 as measured by married with children and in poverty of all the other places in the local area at 4% of the total. Second, it has less than most other places in the metro area in terms of unmarried with children and in poverty at 4% 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 less than most other places in the metro area 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 5.9% which is the second smallest in terms of households with public assistance of all the other places in the metropolitan area. The place with the highest households with public assistance in the area is Suring which shows a households with public assistance of 24.0% (approximately 4.1 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Lakewood CDP depicts it has a Gini Index of 34.7% which is the second smallest as measured by the gini index of all the other places in the local area.

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 29%. 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 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 29%.

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 830 am to 9am at 26% of the total and is ranked #1. Third, it has one of the largest proportions of people who leave for work between 11am to 12noon at 29% of the total and is ranked #2. The only larger place being Townsend CDP with 30%.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Lakewood CDP has the largest proportion of people with commute time of less than 5 minutesutes at 38% of the total and is ranked #1. Second, it has one of the largest proportions of people with commute time between 10 to 14 minutes at 14% of the total and is ranked #2. The only larger place being Laona CDP with 19%.

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 when sorted by average commute time of all the other places in the metropolitan area. Figure 38 shows the difference between male versus female commuting time. Lakewood CDP indicates average commute time in minutes for men approximately half 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 the percentage of no vehicle available the second smallest when sorted by no vehicle available of all the other places in the area at 11% of the total. Second, it has one of the largest proportions of 1 vehicle available at 55% of the total and is ranked #3. Only #2 Suring (68%), and #1 Townsend CDP (88%) are larger. Third, it has one of the largest proportions of 2 vehicles available at 34% of the total and is ranked #2. The only larger place being Mountain CDP with 54%. 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 57% which is at the top of all other places in the greater Lakewood CDP region. Comparing people who both work and live in the same city to the United States average of 43%, Lakewood CDP is 34.4% larger. Also, compared to the state of Wisconsin, people who both work and live in the same city of 40%, Lakewood CDP is 42.7% 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 $32,308 for the earnings-natural resources, construction, maintenance occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and Lakewood CDP shows it has the hightest median earnings of $35,469 for the earnings-sales and office occupations grouping. 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 shows it has the hightest entrepreneurs of 36% for the self employed management, business, science, and arts 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. Lakewood CDP shows it has the hightest entrepreneurs of 73% 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 $15,626 which is the third most of all other places in the greater region. The place with the highest average annual self employment income in the area is White Lake which depicts an average annual self employment income of $51,183 (approximately 3.3 times bigger). Comparing average annual self employment income to the United States average of $40,101, Lakewood CDP is approximately a third the size. Also, versus the state of Wisconsin, average annual self employment income of $33,875, 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 three-fourths the size as the total number of self-employed women.