BEARFACTS 1996 – 2006
← Schoolcraft, Michigan (26153)
PER CAPITA PERSONAL INCOME
In 2006 Schoolcraft had a per capita personal income (PCPI) of $24,604. This PCPI ranked 58th in the state and was 73 percent of the state average, $33,788, and 67 percent of the national average, $36,714. The 2006 PCPI reflected an increase of 3.5 percent from 2005. The 2005-2006 state change was 3.3 percent and the national change was 5.6 percent. In 1996 the PCPI of Schoolcraft was $18,507 and ranked 50th in the state. The 1996-2006 average annual growth rate of PCPI was 2.9 percent. The average annual growth rate for the state was 3.3 percent and for the nation was 4.3 percent.
TOTAL PERSONAL INCOME
In 2006 Schoolcraft had a total personal income (TPI) of $213,390*. This TPI ranked 78th in the state and accounted for 0.1 percent of the state total. In 1996 the TPI of Schoolcraft was $160,272* and ranked 75th in the state. The 2006 TPI reflected an increase of 3.6 percent from 2005. The 2005-2006 state change was 3.3 percent and the national change was 6.7 percent. The 1996-2006 average annual growth rate of TPI was 2.9 percent. The average annual growth rate for the state was 3.7 percent and for the nation was 5.4 percent.
COMPONENTS OF TOTAL PERSONAL INCOME
Total personal income includes net earnings by place of residence; dividends, interest, and rent; and personal current transfer receipts received by the residents of Schoolcraft. In 2006 net earnings accounted for 52.9 percent of TPI (compared with 52.0 in 1996); dividends, interest, and rent were 14.3 percent (compared with 18.1 in 1996); and personal current transfer receipts were 32.8 percent (compared with 29.8 in 1996). From 2005 to 2006 net earnings increased 1.1 percent; dividends, interest, and rent increased 6.3 percent; and personal current transfer receipts increased 6.7 percent. From 1996 to 2006 net earnings increased on average 3.1 percent each year; dividends, interest, and rent increased on average 0.5 percent; and personal current transfer receipts increased on average 3.9 percent.
EARNINGS BY PLACE OF WORK
Earnings of persons employed in Schoolcraft increased from $127,417* in 2005 to $128,506* in 2006, an increase of 0.9 percent. The 2005-2006 state change was 0.8 percent and the national change was 5.7 percent. The average annual growth rate from the 1996 estimate of $89,103* to the 2006 estimate was 3.7 percent. The average annual growth rate for the state was 3.5 percent and for the nation was 5.5 percent.
*Note: All income estimates with the exception of PCPI are in thousands of dollars, not adjusted for inflation.
