BEARFACTS 1995 – 2005
← Schoolcraft, Michigan → (26153)
PER CAPITA PERSONAL INCOME
In 2005 Schoolcraft had a per capita personal income (PCPI) of $23,772. This PCPI ranked 55th in the state and was 73 percent of the state average, $32,694, and 68 percent of the national average, $34,757. The 2005 PCPI reflected an increase of 3.1 percent from 2004. The 2004-2005 state change was 3.6 percent and the national change was 4.9 percent. In 1995 the PCPI of Schoolcraft was $17,312 and ranked 54th in the state. The 1995-2005 average annual growth rate of PCPI was 3.2 percent. The average annual growth rate for the state was 3.4 percent and for the nation was 4.2 percent.
TOTAL PERSONAL INCOME
In 2005 Schoolcraft had a total personal income (TPI) of $206,012*. This TPI ranked 78th in the state and accounted for 0.1 percent of the state total. In 1995 the TPI of Schoolcraft was $151,255* and ranked 76th in the state. The 2005 TPI reflected an increase of 1.9 percent from 2004. The 2004-2005 state change was 3.7 percent and the national change was 5.9 percent. The 1995-2005 average annual growth rate of TPI was 3.1 percent. The average annual growth rate for the state was 3.8 percent and for the nation was 5.3 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 2005 net earnings accounted for 54.2 percent of TPI (compared with 51.5 in 1995); dividends, interest, and rent were 13.9 percent (compared with 17.7 in 1995); and personal current transfer receipts were 31.8 percent (compared with 30.8 in 1995). From 2004 to 2005 net earnings increased 3.5 percent; dividends, interest, and rent decreased 9.9 percent; and personal current transfer receipts increased 5.1 percent. From 1995 to 2005 net earnings increased on average 3.7 percent each year; dividends, interest, and rent increased on average 0.7 percent; and personal current transfer receipts increased on average 3.5 percent.
EARNINGS BY PLACE OF WORK
Earnings of persons employed in Schoolcraft increased from $122,923* in 2004 to $127,417* in 2005, an increase of 3.7 percent. The 2004-2005 state change was 2.8 percent and the national change was 5.4 percent. The average annual growth rate from the 1995 estimate of $82,668* to the 2005 estimate was 4.4 percent. The average annual growth rate for the state was 3.7 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.
