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Chambers County, Alabama, has an annual GDP of approximately 1.03 billion dollars, with a GDP per capita of about 29,811 dollars. The county's GDP growth rate for the last year stands at 2.6%, which is a positive trend compared to its 0.58% compound annual growth rate over the past 13 years. Notably, Chambers County has a significant goods-producing sector, contributing 38.8% to its GDP, which is higher than the state average of 22.2%. In comparison to other counties in Alabama, Chambers County's GDP per capita is lower than the state average of 55,999 dollars and significantly lower than Jefferson County's 86,076 dollars. This indicates potential for economic growth, particularly in diversifying its economy beyond goods production and enhancing service sectors.
Chambers County, AL exhibits a notable employment rate of 69.7% for individuals aged 20-64, which is slightly above the state average of 68.7% but below the national average of 73.8%. The county's employment rate for those with a Bachelor's degree stands impressively at 86.9%, surpassing both the state (82.6%) and national (84.3%) figures, indicating a strong educational impact on employment opportunities. However, the overall employment rate for high school graduates at 65.6% is only marginally higher than Alabama's average of 63.3%. Compared to nearby counties, Chambers County's employment rates are competitive, particularly for degree holders, suggesting a potential for economic growth driven by education and skilled labor. The low employment rate of 1.9% for those aged 75 and older reflects a demographic trend that may influence future workforce planning.
Chambers County, AL, exhibits a significantly lower economic profile compared to both state and national averages. With a mean household income of $48,805 and a median household income of $64,377, it lags behind Alabama's state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $27,006, which is notably lower than the state average of $33,344 and the national average of $41,261. Additionally, 19.5% of households earn less than $20,000, a higher percentage than the state’s 16.6%. The income inequality, as indicated by the Gini index of 0.4371, suggests a more equitable income distribution compared to other counties like Jefferson (0.5049) and Shelby (0.4441). Overall, Chambers County faces economic challenges that highlight the need for targeted development initiatives to improve income levels and reduce poverty.