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Baldwin County, Alabama, has an annual GDP of approximately 10.8 billion dollars, with a GDP per capita of 46,316 dollars, which is notably lower than the state average of 55,999 dollars and significantly below the national average of 77,754 dollars. The county's GDP growth rate for the last year stands at 2.1%, with a compound annual growth rate (CAGR) of 3.9% over the past 13 years, indicating a robust growth trend compared to other counties in Alabama. Baldwin's economy is heavily service-oriented, with 74.7% of its GDP coming from service-providing sectors, which aligns with the national trend of 71.2%. However, its goods-producing sector contributes only 15.7%, lower than the state average of 22.2%. This suggests Baldwin County's economy is increasingly reliant on services, which may reflect its tourism-driven growth, especially given its coastal location.
Baldwin County, AL exhibits a robust employment landscape, with a 73% employment rate for individuals aged 20-64, surpassing the state average of 68.7% and closely aligning with the national rate of 73.8%. The county's employment rate for high school graduates (71%) is notably higher than Alabama's average (63.3%), indicating a strong local job market that values educational attainment. However, the employment rate for those with a bachelor's degree (81.1%) is slightly below the state average of 82.6%. Compared to nearby counties, Baldwin County's employment rates are competitive, particularly when contrasted with Mobile County (67.1%) and Montgomery County (66.9%). This suggests Baldwin County is a favorable region for employment, driven by its educational achievements and economic opportunities.
Baldwin County, AL exhibits a robust economic profile, with a mean household income of $71,039 and a median household income of $96,027, both of which surpass the state averages of $59,609 and $82,992, respectively. Notably, Baldwin County's income per capita stands at $38,907, indicating a relatively high standard of living compared to other counties in Alabama, such as Mobile County ($55,352) and Montgomery County ($56,707). The county also boasts a significant percentage of households earning over $200,000 (9.9%), aligning with the national average of 9.9% and exceeding Alabama's 8.7%. Furthermore, Baldwin County's income inequality, as measured by the Gini index (0.4648), is lower than that of Jefferson County (0.5049), suggesting a more equitable income distribution. Overall, Baldwin County's economic indicators reflect a thriving community within Alabama.