Wealth Index
Less wealthy than 74% of counties in Mississippi
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Sharkey County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Household Income | $36,481 | $55,084 | $78,145 |
| Median Personal Income | $40,492 | $48,244 | $61,726 |
| Average income growth | 3.9% | 4.5% | 5.1% |
| Six-Figure Earners | 4.4% | 6.9% | 13.2% |
The median household income in Sharkey County is about 34% lower than in Mississippi. Income has been growing slower in Sharkey County (3.9%/yr) than in Mississippi (4.5%/yr).
About 4% of adults in Sharkey County earn six figures ($100,000 or more) a year, lower than the Mississippi average of 7%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Sharkey County, Mississippi grew by 23.4% from 2009 to 2023, reaching $36,481 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Sharkey County | Gender Pay Gap | Gini Coefficient
| Metric | Sharkey County | Mississippi Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.595 | 0.574 | 0.570 |
| Male Median Income | $40,078 | $55,143 | $67,746 |
| Female Median Income | $40,631 | $42,143 | $54,793 |
| Gender Pay Gap | -1.4% | 23.6% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Sharkey County, it is 0.595, higher than Mississippi's 0.574, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Women's income is about 1% more than men's income in Sharkey County, Mississippi. Over a 35-year career, a 1% wage gap accumulates to roughly $19,355 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sharkey County, Mississippi has narrowed from about 38% to -1% in 2023. In dollar terms, the gap has narrowed by $12,857 since 2009.
Employment
| Metric | Sharkey County | Mississippi Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.5% | 5.9% | 5.2% |
| Working from Home | 2.0% | 5.3% | 13.4% |
| Commute time (minutes) | 13 | 21 | 22 |
Approximately 176 people are unemployed in Sharkey County, Mississippi.
The average commute time in Sharkey County is 13 minutes, shorter than the 21 minutes in Mississippi.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sharkey County, Mississippi has fallen from 17.3% to 10.5% in 2023.
Conclusion
Considering all these factors, Sharkey County, Mississippi has an overall wealth index grade of D, making it somewhat worse than Mississippi, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Sharkey County, Mississippi.
How Rich Is Sharkey County, Mississippi?
Sharkey County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $36,481, about 34% lower than the Mississippi average of $55,084.
What is the current median household income in Sharkey County, Mississippi?
As of 2023, the median household income in Sharkey County, Mississippi is $36,481.
What was the median household income in Sharkey County in 2023?
In 2023, the median household income in Sharkey County, Mississippi was $36,481.
What was the median household income in Sharkey County in 2020?
In 2020, the median household income in Sharkey County, Mississippi was $35,859.
What is the Gini coefficient in Sharkey County, Mississippi?
The Gini coefficient in Sharkey County is 0.595. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Sharkey County, Mississippi?
Since 2009, the income gap between men and women in Sharkey County, Mississippi has narrowed from about 38% to -1% in 2023. In dollar terms, the gap has narrowed by $12,857 since 2009.