Oconomowoc Lake Wisconsin Income Charts

This section shows the Oconomowoc Lake Wisconsin economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Oconomowoc Lake depicts it has a Median earnings of $98,750 which is the largest of all places in the greater Oconomowoc Lake region. Comparing median earnings per worker to the United States average of $50,459, Oconomowoc Lake is about twice as large. Also, benchmarked against the state of Wisconsin, median earnings per worker of $49,517, Oconomowoc Lake is about twice as large.

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 $245,750 which is the largest of all places in the greater Oconomowoc Lake region. Comparing median household income to the United States average of $64,994, Oconomowoc Lake is approximately 3.8 times bigger. Also, compared with the state of Wisconsin, median household income of $63,293, Oconomowoc Lake is approximately 3.9 times bigger.

The next section examines a variety of different income statistics for the Oconomowoc Lake metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 5.8% of the total and is ranked #2. The only larger city being Okauchee Lake CDP with 7.3%. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 6.2% of the total and is ranked #1. Third, it has the smallest proportion of earnings between $15,000 and $19,999 at 14.0% of the total. Also, it has the smallest proportion of earnings between $20,000 and $49,999 at 5.2% of the total. In addition, it has one of the largest proportions of earnings between $75,000 and $99,999 at 36.2% of the total and is ranked #2. The only larger city being Chenequa with 39.9%.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 37.5 which is the second smallest in order of average hours of all the other places in the area. The city with the highest average hours in the area is Okauchee Lake CDP which depicts an average hours of 40.7 (8.5% 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 $50.64 which is more than all other places in the greater Oconomowoc Lake region. Comparing average hourly earnings to the United States average of $25.01, Oconomowoc Lake is about twice as large. Also, in contrast to the state of Wisconsin, average hourly earnings of $24.67, Oconomowoc Lake is about twice as large.

Figure 7 examines the number of self employed people in the Oconomowoc Lake metro area based on the number of people who reported any self employment income. Oconomowoc Lake depicts it has a Self Employed of 24.0% which is the largest of all places in the greater 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 $228,472 of the total and is ranked #1. Second, it has the largest proportion of median income-25 to 44 years at $250,001 of the total and is ranked #1. Third, it has the largest proportion of median income-45 to 64 years at $163,750 of the total and is ranked #1.

Figure 9 breaks down the source of income and Oconomowoc Lake has the largest proportion of income from wages at 10.0% of the total and is ranked #1. Second, it has the smallest proportion of investment and retirement income at 3.2% 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 19.0% which is the second smallest when ranked by households with retirement income of all the other places in the area. The city with the highest households with retirement income in the area is Okauchee Lake CDP which depicts a households with retirement income of 32.0% (68.1% 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 $247,000 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. Oconomowoc Lake shows it has the hightest cost of 425.6 for the cost of housing classification.

Oconomowoc Lake 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 February 2006 to before the Coronavirus Pandemic the monthly unemployment rate went from 4.8% to 3.5% in February 2020. This represents a decrease in the monthly unemployment rate of 27.1%. Since that time, the monthly unemployment rate has gone to 3.9% This represents an increase in the monthly unemployment rate of 11.4%. 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 depicts that from January 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 41,528 to 40,787 in March 2020. This represents a decrease in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 41,352 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 Oconomowoc Lake depicts it has a Unemployment Rate of 2.2% which is the largest 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. Oconomowoc Lake shows it has a Labor Force Participation of 70.0% which is the second most participation rates of all the places in the greater Oconomowoc Lake 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). Oconomowoc Lake has the largest proportion of employed at 2.2% 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. Oconomowoc Lake shows full time employees approximately 2.3 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 Oconomowoc Lake area. Oconomowoc Lake depicts it has a Single Earner Families of 37.0% which is the second most families with a single earner of all the places in the greater Oconomowoc Lake region. The city with the highest families with a single earner in the area is Chenequa which depicts a single earners rate of 39.5% (6.6% larger). The percentage of families with no one working is depicted in Figure 22. Oconomowoc Lake depicts it has a Families with No One Working of 12.7% which is the second smallest when ranked by families with no one working of all the other places in the surrounding region. The city with the highest families with no one working in the area is Okauchee Lake CDP which depicts a families with no worker of 22.2% (74.7% larger).

Oconomowoc Lake Wisconsin Poverty Charts

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.) Oconomowoc Lake depicts it has a Public Assistance Percent of 1.8% which is in the middle range of other places in the local area. The city with the highest households with public assistance in the area is Oconomowoc which depicts a households with public assistance of 4.7% (approximately 2.6 times bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Oconomowoc Lake depicts it has a Gini Index of 45.7% which is in the middle range of other places in the surrounding region.

Oconomowoc Lake 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 Oconomowoc Lake 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.) Oconomowoc Lake has the smallest proportion of people who bicycle or walk to work at 5% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Oconomowoc Lake or elsewhere.) Oconomowoc Lake has the smallest proportion of people who work from home at 5% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Oconomowoc Lake has one of the largest proportions of people who leave for work between 12am to 5am at 4% of the total and is ranked #2. The only larger city being Summit with 5%. Second, it has the largest proportion of people who leave for work between 6am to 630am at 19% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 730 am to 8am at 25% of the total and is ranked #1. Also, it has the smallest proportion of people who leave for work between 11am to 12noon 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. Oconomowoc Lake has the smallest proportion of people with commute time of less than 5 minutesutes at 2% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 15% of the total and is ranked #2. The only larger city being Delafield with 15%. Third, it has the smallest proportion of people with commute time between 10 to 14 minutes at 7% of the total. Also, it has the largest proportion of people with commute time between 15 to 19 minutes at 26% of the total and is ranked #1. In addition, it has the smallest proportion of people with commute time between 35 to 39 minutes at 2% of the total. Furthermore, it has the largest proportion of people with commute time between 40 to 44 minutes at 16% of the total and is ranked #1. Next it has the largest proportion of people with commute time between 60 to 89 minutes at 3% of the total and is ranked #1.

The average commute time is shown in Figure 37. Oconomowoc Lake shows it has a Avg Commute Time of 29 which is the largest of all places in the greater Oconomowoc Lake region. Figure 38 shows the difference between male versus female commuting time. Oconomowoc Lake depicts average commute time in minutes for men 67.6% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Oconomowoc Lake has the smallest proportion of no vehicle available at 2% of the total. Second, it has the smallest proportion of 1 vehicle available at 27% of the total. Third, it has the largest proportion of 2 vehicles available at 44% of the total and is ranked #1. Also, it has the largest proportion of 3 vehicles available at 17% of the total and is ranked #1. In addition, it has the largest proportion of 4 vehicles available at 10% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Oconomowoc Lake shows it has a Work in city or place where live of 8% which is the smallest in terms of people who both work and live in the same city of all the other places in the local area. The city with the highest people who both work and live in the same city in the area is Oconomowoc which shows a people who both work and live in the same city of 29% (approximately 3.8 times bigger). Comparing people who both work and live in the same city to the United States average of 43%, Oconomowoc Lake is approximately a sixth the size. Also, benchmarked against the state of Wisconsin, people who both work and live in the same city of 40%, Oconomowoc Lake is approximately a fifth the size.

Oconomowoc Lake 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. Oconomowoc Lake shows it has the hightest median earnings of $250,001 for the earnings-healthcare practitioners and tech occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Oconomowoc Lake shows it has the hightest median earnings of $97,083 for the earnings-healthcare practitioners and tech occupations classification. The table in Figure 48, shows Oconomowoc Lake employment data in terms of job categories and salary data.

Oconomowoc Lake 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. Oconomowoc Lake shows it has the hightest entrepreneurs of 64% for the self employed management, business, science, and arts businesses category.

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. Oconomowoc Lake depicts it has the hightest entrepreneurs of 44% for the self employed in wholesale trade category.

In Figure 51 the average annual self employment/entrepreneur income is shown. Oconomowoc Lake shows it has a Self Employment Income of $135,094 which is the highest of all places in the greater Oconomowoc Lake region. Comparing average annual self employment income to the United States average of $40,101, Oconomowoc Lake is approximately 3.4 times bigger. Also, in comparison with the state of Wisconsin, average annual self employment income of $33,875, Oconomowoc Lake is approximately 4.0 times bigger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Oconomowoc Lake depicts total number of self-employed men about twice as large as the total number of self-employed women.