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Economy Profile

South Bend MSA

  • Indiana State
  • October, 2024
TSAC-CFD-143780

Table of Content

Snapshot

-

GDP (2022, Thousands)
$ 19041752
AVG Real Growth (2017-2022)
1.94 %
Unemployment Rate (May, 2024)
5.6 %
Labor Force Size
158137
Number of Businesses
7434
Average Annual Wage
$ 56841

Economy Structure

Population & Household section gives reader an outlook. of general population profile, structure, and outlook.

GDP

GDP (2022, Thousands)
$ 19041752
GDP Per Capita
$ 58772
GDP Growth Rate (2022)
3.7 %
Average Growth Rate (2017-2022)
1.94 %
Goods Producing Contribution (%)
23.4%
Service Providing Contribution (%)
69.4%
Goverment Contribution
7.1%
GDP Historical Growth Rate
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP by Sectors
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP Growth by Sectors
Source: Bureau of Economic Analysis | CAGDP11

Monthly Employment

Total Labor Force
158137
Labor Force Growth
0.08%
Unemployment
8787
Unemployment Rate
5.6%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
75.1%
Employment Rate (with Bachelor's Degree)
85.5%
Employment Rate (75+ y.o.)
7.1%
Employment Rate (Black)
56.2%
Employment Rate (Female)
71.2%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
7434
Number of Employment
130132
Annual Average Wages
$ 56841
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 64982
Service-providing (avg pay)
$ 55675
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 62448
Household Income (Median)
$ 85931
Per Capita Income
$ 34678
Per Capita Income Growth (2010-2022)
- %
Gini Index
0.4709*
Poverty Rate
14.2 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov