Economic and Financial Conditions of Korean-Americans October 30, 2015 Hansa Institute.

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Presentation transcript:

Economic and Financial Conditions of Korean-Americans October 30, 2015 Hansa Institute

Data Sources The data presented herein come from the following pages in the Hansa 2015 Population and Household Statistics Factsheet– Midwest Edition: – Korean-American Population in the U.S. Pages 5-6 – Korean-American Population in IL: City of Chicago Pages – Korean-American Population in IL: Suburban Cook County Pages Color-coded cells – Yellow cell = declining trend between 2007 and 2012 – Red cell = increasing trend between 2007 and 2012

Class of Work: Self-employment Rate ( 자영업 비율 ) Region 2000 Census ACS ACS U.S.20.74% 20.83%19.97% Cook County 22.49% 25.67%22.25% Chicago 19.24%14.92% 8.46%

Industry Code for Occupation: Retail Sale ( 소매업 ) Region 2000 Census ACS ACS U.S.109, ,192123,542 Cook County 2,176 2,3482,087 Chicago

Industry Code for Occupation: Finance and Professional ( 금융업 ) Region 2000 Census ACS ACS U.S.98, ,031153,349 Cook County 1,919 2,6772,686 Chicago 1,6421,9072,223

Industry Code for Occupation: Restaurant ( 식당업 ) Region 2000 Census ACS ACS U.S. 57,55573,80878,745 Cook County 621 1, Chicago

Industry Code for Occupation: Personal Care ( 미용업 ) Region 2000 Census ACS ACS U.S.15,757 17,92023,381 Cook County Chicago

Industry Code for Occupation: Dry clean and Laundry ( 세탁업 ) Region 2000 Census ACS ACS U.S.27,481 28,26827,773 Cook County 1,6962,1521,439 Chicago

Labor Participation Rate (%) ( 노동시장 참여율 ) Region 2000 Census ACS ACS U.S Cook County Chicago

Unemployment Rate (%) ( 실업율 ) Region 2000 Census ACS ACS U.S Cook County Chicago

Poverty Level: 200%+ (4 인가족 기준 $48,500 이상 ) Region 2000 Census ACS ACS U.S. 748,4811,013,0361,090,489 Cook County 18,261 20,93321,603 Chicago7,608 8,205 9,195

Poverty Level: 150% and Less (4 인 가족 기준 $30,312 이하 ) Region 2000 Census ACS ACS U.S.240,632211,263245,799 Cook County 3,3213,5513,800 Chicago4,4542,8602,476

Housing Owner Ratio (%) ( 주택소유율 ) Region 2000 Census ACS ACS U.S Cook County Chicago

Median House Price ($) ( 중간주택가격 ) Region 2000 Census ACS ACS U.S.187, ,000370,000 Cook County 225, ,000300,000 Chicago225, ,000325,000

Conclusions Self-employment rate of Korean-Americans (KA) in the Chicago area is declining. Declining occupations = retails, restaurants, dry-cleaning, etc. Popular occupations = personal care, financial and professional services, etc. The gap between the poor and the rich KAs has grown. Home ownership declined; so did the price.