Phelps Wisconsin Income Charts

This section shows the Phelps Wisconsin economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Phelps depicts it has a Median earnings of $40,324 which is the third most median earnings of all other places in the greater Phelps region. The city with the highest median earnings per worker in the area is Three Lakes CDP which depicts a median earnings of $53,750 (33.3% larger). Comparing median earnings per worker to the United States average of $53,269, Phelps is approximately three-fourths the size. Also, compared to the state of Wisconsin, median earnings per worker of $52,245, Phelps 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 $53,000 which is the second most median income of all the places in the greater Phelps region. The city with the highest median household income in the area is Three Lakes CDP which shows a median income of $59,375 (12.0% larger). Comparing median household income to the United States average of $69,021, Phelps is approximately three-fourths the size. Also, in comparison with the state of Wisconsin, median household income of $67,080, Phelps is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Phelps metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 the second smallest in terms of median earnings of less than $10,000 of all the other places in the metro area at 5.7% of the total. Second, it has the largest proportion of earnings between $75,000 and $99,999 at 14.2% 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 38.3 which is the second most average hours of all the places in the greater Phelps region. The city with the highest average hours in the area is Watersmeet CDP which shows an average hours of 40.7 (6.3% 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 $20.25 which is the third most average hourly earnings of all other places in the greater Phelps region. The city with the highest average hourly earnings in the area is Three Lakes CDP which shows an average hourly earnings of $27.13 (34.0% larger). Comparing average hourly earnings to the United States average of $26.40, Phelps is approximately three-fourths the size. Also, in comparison with the state of Wisconsin, average hourly earnings of $26.03, Phelps is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Phelps metro area based on the number of people who reported any self employment income. Phelps depicts it has a Self Employed of 17.0% which is the highest of all places in the greater Phelps 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 $67,063 of the total and is ranked #2. The only larger city being Three Lakes CDP with $107,546. Second, it has one of the largest proportions of median income-45 to 64 years at $37,500 of the total and is ranked #3. Only #2 Iron River ($38,152), and #1 Gaastra ($46,500) are larger.

Figure 9 breaks down the source of income and Phelps has the largest proportion of income from wages at 10.6% of the total and is ranked #1. Second, it has the smallest proportion of investment and retirement income at 13.7% 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 34.3% which is the largest of all places in the greater Phelps region.

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 $69,375 of the total and is ranked #3. Only #2 Watersmeet CDP ($77,500), and #1 Three Lakes CDP ($78,897) 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. Phelps shows it has the hightest cost of 101.3 for the cost of healthcare classification.

Phelps Wisconsin Labor Force Charts

The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate shows that from January 2017 to before the COVID-19 Pandemic it went from 4.8% to 4.4% in March 2020. This represents a decrease in the monthly unemployment rate of 8.3%. Since that time, the monthly unemployment rate has gone to 3.5%. This represents a decrease in the monthly unemployment rate of 20.5%. 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. The monthly labor force participation indicates that from January 2017 to before the disasterous Coronavirus Pandemic it went from 19,587 to 19,638 in November 2019. This represents an increase in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 19,638. 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 Phelps depicts it has a Unemployment Rate of 2.2% which is less than most other places in the metropolitan area. The city with the highest unemployment rate in the area is Gaastra which depicts a rate of 5.7% (approximately 2.6 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Phelps shows it has a Labor Force Participation of 53.6% which is in the center range of other places in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Phelps depicts full time employees approximately 4.6 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 Phelps area. Phelps shows it has a Single Earner Families of 26.7% which is in the mid range of other places in the greater region. The city with the highest families with a single earner in the area is Watersmeet CDP which indicates a single earners rate of 38.9% (45.8% larger). The percentage of families with no one working is depicted in Figure 22. Phelps depicts it has a Families with No One Working of 29.4% which is in the mid range of other places in the local area. The city with the highest families with no one working in the area is Caspian which depicts a families with no worker of 48.2% (64.0% larger).

Phelps Wisconsin Poverty Charts

The next section details economy analysis about poverty for residents of the Phelps 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. Phelps depicts it has a Total In Poverty of 57 which is in the middle range of other places in the greater region. The city with the highest total people earning less than the poverty level in the area is Iron River which depicts a total people earning less than the poverty level of 563 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Phelps depicts it has a Percent of Population In Poverty of 4.8% which is the second smallest in terms of percent of people earning less than the poverty level of all the other places in the surrounding region. The city with the highest percent of people earning less than the poverty level in the area is Eagle River which depicts a percent of people in poverty of 19.3% (approximately 4.1 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Phelps has the percentage of person in poverty 12 to 17 years the second smallest as measured by person in poverty under 12 years of all the other places in the metro area at 9% of the total. Second, it has the largest proportion of person in poverty 35 to 54 years at 40% of the total and is ranked #1. Third, it has one of the largest proportions of person in poverty 55 to 64 years at 42% of the total and is ranked #2. The only larger city being Watersmeet CDP with 100%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Phelps has the percentage of less than highschool in poverty the second smallest when ranked by less than highschool in poverty of all the other places in the surrounding region at 5% 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.) Phelps depicts it has a Public Assistance Percent of 15.1% which is in the mid range of other places in the local area. The city with the highest households with public assistance in the area is Eagle River which shows a households with public assistance of 29.0% (about twice as large).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Phelps shows it has a Gini Index of 43.0% which is in the intermediate range of other places in the greater region.

Phelps 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 Phelps 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.) Phelps has the largest proportion of people who bicycle or walk to work at 10% 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 Phelps or elsewhere.) Phelps has the largest proportion of people who work from home at 10% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Phelps has the percentage of people who leave for work between 12am to 5am the second smallest in terms of people who leave for work between 12am to 5am of all the other places in the area at 2% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Phelps has the percentage of people with commute time of less than 5 minutesutes the second smallest in terms of people with commute time of less than 5 minutes of all the other places in the metro area at 21% of the total. Second, it has the second smallest when sorted by people with commute time of less than 5 minutes of all the other places in the area as measured by people with commute time between 5 to 9 minutes at 6% of the total. Third, it has one of the largest proportions of people with commute time between 15 to 19 minutes at 21% of the total and is ranked #2. The only larger city being Watersmeet CDP with 32%. Also, it has the largest proportion of people with commute time between 30 to 34 minutes at 3% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 40 to 44 minutes at 9% of the total and is ranked #1.

The average commute time is shown in Figure 37. Phelps shows it has a Avg Commute Time of 22 which is the second most of all the places in the local area. Figure 38 shows the difference between male versus female commuting time. Phelps shows average commute time in minutes for men 40.6% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Phelps has the smallest proportion of no vehicle available at 18% of the total. Second, it has the largest proportion of 1 vehicle available at 48% of the total and is ranked #1. Third, it has in the mid range of other places in the surrounding region when ranked by 3 vehicles available at 2% of the total. Also, it has the largest proportion of 4 vehicles available at 9% of the total and is ranked #1.

Phelps 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. Phelps shows it has the hightest median earnings of $63,194 for the earnings-natural resources, construction, maintenance occupations classification. Similarly, Figure 47 shows the median earnings of women for the job categories and Phelps depicts it has the hightest median earnings of $124,375 for the management, business, and financial occupations grouping. The table in Figure 48, shows Phelps employment data in terms of job categories and salary data.

Phelps 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. Phelps depicts it has the hightest entrepreneurs of 46% 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. Phelps shows it has the hightest entrepreneurs of 71% for the self employed in arts, entertainment, recreation, accommodation and food services group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Phelps depicts it has a Self Employment Income of $46,390 which is the highest of all places in the greater Phelps region. Comparing average annual self employment income to the United States average of $42,141, Phelps is 10.1% larger. Also, measured against the state of Wisconsin, average annual self employment income of $36,338, Phelps is 27.7% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Phelps shows total number of self-employed men approximately 2.3 times bigger as the total number of self-employed women.