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Oakland-Winchell in 2022: Neighborhood with the largest decline in employment rate in Kalamazoo, Michigan
CATEGORY
Top Regions
DATA
Employment per Population
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Top Regions
Employment per Population
Oakland-Winchell, a neighborhood in Kalamazoo, Michigan, has experienced significant changes in its employment landscape over the past decade. This analysis focuses on the neighborhood's distinction as having the largest decline in employment rate in Kalamazoo, based on the most recent data from 2022. We will examine the employment trends, related demographic factors, and potential correlations that help explain this distinction.
In 2022, Oakland-Winchell's employment-to-population ratio stood at 0.554, marking a substantial decline from its peak of 0.629 in 2021. This sharp drop of 7.5 percentage points in just one year represents the largest decline in employment rate among Kalamazoo neighborhoods over the past decade. To understand this trend, we need to examine the historical data and related factors that may have contributed to this significant change.
Looking at the employment-to-population ratio over the years, we can observe a fluctuating trend. In 2013, the ratio was 0.552, which remained relatively stable until 2017. There was a notable increase from 2018 to 2021, with the ratio reaching its peak of 0.629 in 2021. However, the sudden drop to 0.554 in 2022 erased all the gains made in the previous years, bringing the employment rate back to levels similar to those seen a decade ago.
This dramatic decline in employment rate could be influenced by various factors. One potential correlation is the change in median income. In 2021, the median income in Oakland-Winchell reached its highest point in the decade at $69,879. However, it sharply decreased to $61,462 in 2022, a decline of 12%. This substantial drop in median income aligns with the decline in employment rate, suggesting a possible relationship between job losses or reduced work hours and decreased household earnings.
Another factor to consider is the neighborhood's population dynamics. The population of Oakland-Winchell has shown some volatility over the years. In 2022, the population stood at 5,725, a slight increase from 5,664 in 2021. However, this is still lower than the peak of 6,068 residents in 2020. The fluctuations in population could indicate changes in the local job market, with people potentially moving in or out of the neighborhood based on employment opportunities.
The housing market in Oakland-Winchell may also provide some context for the employment situation. Despite the decline in employment rate and median income, average home prices in the neighborhood have continued to rise, reaching $286,665 in 2022. This increase in housing costs, coupled with decreased employment and income, could potentially strain household budgets and affect overall economic stability in the neighborhood.
It's also worth noting the changes in the neighborhood's racial composition. In 2022, the white population made up 69.5% of Oakland-Winchell, while the Black population accounted for 19.2%. These figures represent a slight increase in diversity compared to previous years. While the data doesn't directly link racial demographics to employment rates, changes in neighborhood composition could potentially influence local economic dynamics and job markets.
In conclusion, Oakland-Winchell's distinction as the neighborhood with the largest decline in employment rate in Kalamazoo is primarily evidenced by the sharp drop in its employment-to-population ratio from 0.629 in 2021 to 0.554 in 2022. This decline coincides with a significant decrease in median income, suggesting a broader economic challenge in the neighborhood. The fluctuating population, rising housing costs, and changing demographic composition provide additional context for understanding the complex factors that may be contributing to this employment trend. As Oakland-Winchell navigates these challenges, monitoring these interrelated factors will be crucial for understanding the neighborhood's economic trajectory and potential recovery in the coming years.
