Kankakee-Bradley MSA #7 Nationally in Middle-income Share
KANKAKEE, IL – June 8, 2016 – Against a backdrop of a steadily declining middle class, the Kankakee-Bradley Metropolitan Statistical Area (MSA) is showing outstanding growth in its proportion of middle-income individuals. According to a new report by Pew Research Center, the Kankakee-Bradley MSA – which shares boundaries with Kankakee County – saw growth in its share of middle-income adults, from 60 percent in 2000 to 62 percent in 2014, positioning the area among the Top 10 U.S. Middle-income Metros.
Nationally, the share of adults living in middle-income households fell from 55 percent to in 2000 to 51 percent in 2014. This is a further decline from 1971, Pew reports, when U.S. middle-income share was 61 percent. Middle-income share fell in 209 of the 229 U.S. MSAs included in this report.
In 2014, the national middle-income range was approximately $42,000 to $125,000 annually for a household of three.
According to “American’s Shrinking Middle Class: A Close Look at Changes within Metropolitan Areas” released on May 11, commonalities among the Top 10 Middle-income Metros are their Midwest location and the fact that most are deeply rooted in manufacturing and derive a greater percentage of their gross domestic product from the manufacturing sector.
Pew reports that in 2014 manufacturing accounted for more than 20 percent of Kankakee County’s GDP, for example, whereas manufacturing accounted for only 12 percent of the nation’s GDP at that time.
The study suggests that the strongest communities, like Kankakee County, in the Top 10 Middle-income Metros experienced relatively modest losses in manufacturing jobs and saw other sectors step in to fill the gap.
Download the complete Pew Research Center report “America’s Shrinking Middle Class: A Close Look at Changes within Metropolitan Areas” here.
About the Economic Alliance of Kankakee County
The Economic Alliance of Kankakee County is a public-private partnership that works to create jobs and expand the economic base by improving the local business climate. Working under Kankakee County’s 2014-19 Comprehensive Economic Development Strategy (CEDS), the Alliance is challenged to help spur $500 million in new business investment and 500 new jobs, along with assisting 150 prospective new businesses. Kankakee County saw more than $1 billion in capital investment in FY 2014 and 2015. For more information, visit kankakeecountyed.org or phone 815.935.1177.