Financial Stability Data
Median Family Income
Why is this important? Median family income is the measure typically used to assess community wealth and service needs. (nrvrc.org/datadashboard/economic.html). An average is just one measure of central tendency for any set of data. Another measure is a median. For wage data, the median wage (or net compensation) is the wage “in the middle.” That is, half of the workers earned below this level. (https://www.ssa.gove/oact/cola/central.html). This dashboard shows the Median Family Income from 2009 to 2015 for each county and city as well as the state of Virginia as a whole. Use the check-boxes on the right to filter your search.
Why is this important? Understanding poverty levels is important for generating policy, targeting development initiatives, and monitoring and evaluating economic progress over time. This dashboard shows the Poverty levels from 2009 to 2015 for each county and city for each county and city as well as the state of Virginia as a whole. Use the check-boxes on the right to filter your search.
Per Capita Income
Why is this important? Per capita income or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area’s total income by its total population. (https://en.wikipedia.org/wiki/Per_capita_income). Per Capita Income is an important metric used by countries, states, cities and other geographic regions to measure quality of life. Changes in income per capita can reflect economic growth or constriction. (www.investopedia.com/video/play/income-capita). This dashboard shows the Per Capita Income from 2009 to 2015 for each county and city as well as the state of Virginia as a whole. Use the check-boxes on the right to filter your search.
Additional Data Sources
Virginia Labor Participation Rates
The Labor Force Participation Rate is the percentage of the population that is in the labor force. The labor force is considered anyone who is employed or unemployed. Unemployed individuals are only those that are actively available and looking for work, not necessarily all individuals without a job. For the most accurate measure, the population considered is the Civilian Non-institutionalized Population. This is individuals over the age of 16, who are not in the military, and are not otherwise prevented from working, such as the incarcerated.
Virginia Labor Market Information
Virginia Labor Market Information provides Virginia labor market, economic and demographic data over time between regions, including: State Unemployment, National Unemployment Map, Area Unemployment Rates, Monthly Ranking by Unemployment Rate, Characteristics of the Insured Unemployed, Characteristics of Newly Registered Job, Area, 50 Largest Employers, Industry by Size, Startup, State Population Map, National Population Map, Population Change, Consumer Price Index (CPI), Local Option Sales Tax, etc.
The United States Department of Labor Bureau of Labor Participation Statistics Data Hub
The United States Department of Labor Bureau of Labor Participation Statistics Data Hub, which includes the following: Inflation & Prices, Employment, Unemployment, Employment Projections, Pay & Benefits, Spending & Time Use, Productivity, Workplace Injuries, Occupational Requirements, Regional Resources, Maps, Calculators.
United Way ALICE
Through a series of new, standardized measurements, United Way is quantifying the size of the workforce in each state that is struggling financially, and the reasons why. These measurements provide a broader picture of financial insecurity than traditional federal poverty guidelines.
United Way ALICE Report – Virginia
The United Way ALICE Report provides a comprehensive picture of financial need in Virginia, beyond traditional federal poverty guidelines. The 322-page Report published in July 2017 shows data at a county and city level for the entire state to bring awareness to part of our population known as ALICE, an acronym coined by United Way that stands for Asset Limited, Income Constrained, Employed. The ALICE population represents those of us (men, women, and families) who work hard and earn more than the official Federal Poverty Level, but less than the basic cost of living.
United Way ALICE Report – Southwest Virginia
United Way of Southwest Virginia published a 20-page body of research condensed for the region of Southwest Virginia in September 2017. In United Way of Southwest Virginia’s service area, the number of ALICE households is as high as 35%. The ALICE rate, combined with a poverty rate at 24%, shows that as many as 59% of households in our region cannot afford the basic cost of living.