LotsCap

Economy Profile

Lee County

  • Alabama State
  • October, 2024
TSAC-CFD-01081

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 8255829
AVG Real Growth (2017-2022)
2.32 %
Unemployment Rate (May, 2024)
3.3 %
Labor Force Size
83893
Number of Businesses
4210
Average Annual Wage
$ 50661

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 8255829
GDP Per Capita
$ 47142
GDP Growth Rate (2022)
4.6 %
Average Growth Rate (2017-2022)
2.32 %
Goods Producing Contribution (%)
16.7%
Service Providing Contribution (%)
60.4%
Goverment Contribution
22.8%
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
83893
Labor Force Growth
3.32%
Unemployment
2775
Unemployment Rate
3.3%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
69.2%
Employment Rate (with Bachelor's Degree)
83.5%
Employment Rate (75+ y.o.)
7.7%
Employment Rate (Black)
53.3%
Employment Rate (Female)
66.1%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
4210
Number of Employment
65362
Annual Average Wages
$ 50661
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 61912
Service-providing (avg pay)
$ 40524
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 59288
Household Income (Median)
$ 84719
Per Capita Income
$ 33083
Per Capita Income Growth (2010-2022)
45.1 %
Gini Index
0.5130*
Poverty Rate
18.5 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov