economic overview of pulaski county, arkansas

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Michael Pakko, Chief Economist, State Economic Forecaster, UALR Institute for Economic Advancement, presented "Economic Overview of Pulaski County, Arkansas" at the 11th Annual Racial Attitudes in Pulaski County Conference April 17, 2014. This presentation gives insight into plight of the middle class by looking at statistics based on race, ethnicity and other demographics.

TRANSCRIPT

Page 1: Economic Overview of Pulaski County, Arkansas
Page 2: Economic Overview of Pulaski County, Arkansas

The Pulaski County Economy

• Economic Characteristics

• Experience in Recession and Recovery

• Demographic & Economic Features

• Black/White Comparisons

Page 3: Economic Overview of Pulaski County, Arkansas

Arkansas Per Capita Personal Income, Percent of U.S. (2012)

(AR ≈ 81%)

Page 4: Economic Overview of Pulaski County, Arkansas

Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages

Page 5: Economic Overview of Pulaski County, Arkansas

Population Growth• From 2010 through 2013, only 22 Arkansas counties saw

positive population growth.

• Pulaski County was #8 with 2.2% cumulative growth.

Source: U.S. Census Bureau

Page 6: Economic Overview of Pulaski County, Arkansas

Recession and Recovery

Source: Bureau of Labor Statistics, Quarterly Census of Employment and Wages.

Page 7: Economic Overview of Pulaski County, Arkansas

Recession and Recovery

Source: Bureau of Labor Statistics, Local Area Unemployment Statistics.

Page 8: Economic Overview of Pulaski County, Arkansas

USA Arkansas Pulaski County Little Rock

Population, percent change, April 1, 2010 to July 1, 2013 2.4% 1.5% 2.2%

Population, percent change, April 1, 2010 to July 1, 2012 1.7% 1.2% 1.6% 1.6%

Persons under 5 years, percent, 2012 6.4% 6.6% 6.9% 7.0%

Persons under 18 years, percent, 2012 23.5% 24.1% 23.8% 24.1%

Persons 65 years and over, percent, 2012 13.7% 15.0% 12.6% 11.3%

White alone, percent, 2012 (a) 77.9% 80.0% 59.7% 48.9%

Black or African American alone, percent, 2012 (a) 13.1% 15.6% 35.5% 42.3%

Asian alone, percent, 2012 (a) 5.1% 1.4% 2.2% 2.7%

Two or More Races, percent, 2012 2.4% 1.8% 1.9% 1.7%

Hispanic or Latino, percent, 2012 (b) 16.9% 6.8% 6.0% 6.8%

White alone, not Hispanic or Latino, percent, 2012 63.0% 73.9% 54.6% 46.7%

High school graduate or higher, percent of persons age 25+, 2008-2012 85.7% 83.3% 89.1% 89.2%

Bachelor's degree or higher, percent of persons age 25+, 2008-2012 28.5% 19.8% 31.6% 38.4%

Per capita money income in past 12 months (2012 dollars), 2008-2012 $28,051 $22,007 $27,744 $29,841

Median household income, 2008-2012 $53,046 $40,531 $46,102 $45,135

Persons below poverty level, percent, 2008-2012 14.90% 18.70% 17.20% 18.20%

Black-owned firms, percent, 2007 7.10% 5.50% 14.10% 16.20%

Hispanic-owned firms, percent, 2007 8.30% 2.30% 2.10% 2.20%

Women-owned firms, percent, 2007 28.80% 24.50% 26.70% 27.50%

Retail sales per capita, 2007 $12,990 $11,602 $16,435 $17,853

(a) Includes persons reporting only one race. (b) Hispanics may be of any race, so also are included in applicable race categories.

Selected Census Quick Facts

Source: US Census Bureau State & County QuickFacts

Page 9: Economic Overview of Pulaski County, Arkansas

Some Statistics in Black & White

Page 10: Economic Overview of Pulaski County, Arkansas

Income and Poverty

Source: U.S. Census Bureau, American Community Survey, 2012

U.S. Arkansas Pulaski Co.

White 13.0% 16.5% 11.4%

Black 28.1% 35.1% 30.7%

Hispanic* 25.4% 31.7% 25.1%

Poverty Rates by Race and Ethnicity, 2012

*Hispanic poverty rates are for the Little Rock-N. Little Rock-Conway MSA.

U.S. Arkansas Pulaski Co.

White 54,729 42,740 56,105

Black 25,256 30,652 31,223

Hispanic* 40,417 33,131 30,127

*Hispanic median incomes are for the Little Rock-N. Little Rock-Conway MSA.

Median Household Income by Race and Ethnicity, 2012

Page 11: Economic Overview of Pulaski County, Arkansas

Unemployment

Source: U.S. Census Bureau, American Community Survey, 2012

U.S. Arkansas Pulaski Co.

White 8.0% 7.1% 5.7%

Male 8.3% 7.2% 6.5%

Female 7.7% 6.9% 4.8%

Black 16.8% 16.1% 14.9%

Male 18.2% 18.4% 14.3%

Female 15.6% 14.3% 15.4%

Hispanic* 11.4% 5.9% 6.9%

Male 10.6% 5.9% 7.5%

Female 12.6% 5.9% 5.8%

Unemployment Rates by Race, Ethnicity, & Gender, 2012

*Hispanic unemployment rates are for the Little Rock-N. Little Rock-Conway MSA.

Page 12: Economic Overview of Pulaski County, Arkansas

Educational Attainment

Source: U.S. Census Bureau, American Community Survey, 2012