Economy Profile
Baldwin County
- Alabama State
- October, 2024
TSAC-CFD-01003
Snapshot
-
GDP (2022, Thousands)
$ 10,811,119
AVG Real Growth (2017-2022)
3.9 %
Unemployment Rate (May, 2024)
2.8 %
Labor Force Size
107,540
Number of Businesses
8,302
Average Annual Wage
$ 48,837
Economy Structure
Population & Household section gives reader an outlook. of general population profile, structure, and outlook.
GDP
GDP (2022, Thousands)
$ 10,811,119
GDP Per Capita
$ 46,316
GDP Growth Rate (2022)
2.1 %
Average Growth Rate (2017-2022)
3.9 %
Goods Producing Contribution (%)
15.7%
Service Providing Contribution (%)
74.7%
Goverment Contribution
9.6%
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
107,540
Labor Force Growth
0.7%
Unemployment
3,050
Unemployment Rate
2.8%
Unemployment Rate
Source: Census.gov | S2301
Employment Profile
Employment Rate (20-64 y.o.)
73%
Employment Rate (with Bachelor's Degree)
81.1%
Employment Rate (75+ y.o.)
4.9%
Employment Rate (Black)
55.3%
Employment Rate (Female)
67.8%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301
Employment by Sectors
Number of Companies
8,302
Number of Employment
82,764
Annual Average Wages
$ 48,837
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 63,163
Service-providing (avg pay)
$ 45,889
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS
Income
Household Income (Mean)
$ 71,039
Household Income (Median)
$ 96,027
Per Capita Income
$ 38,907
Per Capita Income Growth (2010-2022)
47 %
Gini Index
0.4648*
Poverty Rate
10.2 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov