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Economy Profile

Elmore County

  • Alabama State
  • October, 2024
TSAC-CFD-01051

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 2469257
AVG Real Growth (2017-2022)
1.16 %
Unemployment Rate (May, 2024)
2.7 %
Labor Force Size
39437
Number of Businesses
1709
Average Annual Wage
$ 44950

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 2469257
GDP Per Capita
$ 28158
GDP Growth Rate (2022)
1.3 %
Average Growth Rate (2017-2022)
1.16 %
Goods Producing Contribution (%)
20.4%
Service Providing Contribution (%)
63%
Goverment Contribution
16.5%
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
39437
Labor Force Growth
1.63%
Unemployment
1075
Unemployment Rate
2.7%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
68%
Employment Rate (with Bachelor's Degree)
82.7%
Employment Rate (75+ y.o.)
4.9%
Employment Rate (Black)
48.5%
Employment Rate (Female)
68.3%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
1709
Number of Employment
20484
Annual Average Wages
$ 44950
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 65122
Service-providing (avg pay)
$ 37216
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 73258
Household Income (Median)
$ 90524
Per Capita Income
$ 34152
Per Capita Income Growth (2010-2022)
50.8 %
Gini Index
0.4189*
Poverty Rate
9.6 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov