Wood County, TX

Economic Stability Score

These four annual signal scores explain how this location's Combined Score is constructed.

Key Drivers

Driver statements are calculated from the published metric values and carry-forward notices for this annual release.

• 01Median Household Income (2024 dollars) decreased by 4,068.11 2024 dollars from 2023 to 2024; source year 2024.
• 02Labor Force Participation Rate decreased by 1.22 percentage points from 2023 to 2024; source year 2024.
• 03Industry Diversity Index uses carried-forward source data from 2023; it is excluded from trend movement.
• 04Net Domestic Migration Rate uses carried-forward source data from 2023; it is excluded from trend movement.

Trend Direction

What Changed

Actual metric deltas from the 2024 snapshot, with each underlying source year shown directly.

Multi-Year Trend

Annual Combined Score history is limited to the published v2 state/county release.

State Comparison

National Comparison

Methodology Summary

• The annual v2 score requires all seven approved core inputs for each eligible state or county and year.
• Metric normalization is level-matched and year-matched: state versus state and county versus county.
• ACS household income is derived from raw B19013 and rebased to 2024 dollars; raw source observations remain retained.
• The IRS 2022–23 migration-methodology break and carried-forward metrics are retained for level context but excluded from trend movement.
• This release compares 2024 with 2023 only where the underlying metric comparison is eligible.

Related Location Context

Complementary Household Context

Economic conditions are one part of a location's picture. These independent RiskIQ research sites cover related household and housing pressures using their own methodologies.