Economy in Otter Lake, Michigan
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Economy
| Unemployment Rate | 15.00% | 9.10% |
| Recent Job Growth | -3.19% | -0.12% |
| Future Job Growth | 18.62% | 31.25% |
| Sales Taxes | 6.00% | 6.80% |
| Income Taxes | 4.35% | 6.25% |
| Income per Cap. | $20,139 | $27,067 |
| Household Income | $49,814 | $52,954 |
| ESTIMATED HOUSEHOLDS BY HOUSEHOLD INCOME | | |
| Income Less Than 15K | 9.45% | 12.10% |
| Income between 15K and 25K | 12.60% | 10.18% |
| Income between 25K and 35K | 10.24% | 10.56% |
| Income between 35K and 50K | 18.11% | 14.98% |
| Income between 50K and 75K | 24.41% | 19.53% |
| Income between 75K and 100K | 16.54% | 12.52% |
| Income between 100K and 150K | 7.87% | 12.14% |
| Income between 150K and 250K | 0.79% | 3.91% |
| Income between 250K and 500K | 0.00% | 3.34% |
| Income greater than 500K | 0.00% | 0.75% |
| POPULATION BY OCCUPATION | | |
| Management, Business, and Financial Operations | 6.12% | 13.81% |
| Professional and Related Occupations | 12.93% | 22.68% |
| Service | 12.24% | 14.51% |
| Sales and Office | 34.01% | 25.22% |
| Farming, Fishing, and Forestry | 0.00% | 0.68% |
| Construction, Extraction, and Maintenance | 9.52% | 9.37% |
| Production, Transportation, and Material Moving | 24.49% | 15.86% |
The unemployment rate in Otter Lake, MI, is 15.00%, with job growth of -3.19%. Future job growth over the next ten years is predicted to be 18.62%.
Otter Lake, MI Taxes
Otter Lake, MI,sales tax rate is 6.00%. Income tax is 4.35%.
Otter Lake, MI Income and Salaries
The income per capita is $20,139, which includes all adults and children. The median household income is $49,814.
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