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Economy Profile

Marion County

  • Alabama State
  • October, 2024
TSAC-CFD-01093

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 1218347
AVG Real Growth (2017-2022)
1.58 %
Unemployment Rate (May, 2024)
3.5 %
Labor Force Size
12996
Number of Businesses
697
Average Annual Wage
$ 45684

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 1218347
GDP Per Capita
$ 41720
GDP Growth Rate (2022)
0.8 %
Average Growth Rate (2017-2022)
1.58 %
Goods Producing Contribution (%)
44.1%
Service Providing Contribution (%)
42.9%
Goverment Contribution
12.9%
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
12996
Labor Force Growth
-3.07%
Unemployment
451
Unemployment Rate
3.5%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
63.6%
Employment Rate (with Bachelor's Degree)
86.4%
Employment Rate (75+ y.o.)
11.1%
Employment Rate (Black)
24.5%
Employment Rate (Female)
61.1%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
697
Number of Employment
10913
Annual Average Wages
$ 45684
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 52162
Service-providing (avg pay)
$ 38956
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 49743
Household Income (Median)
$ 62389
Per Capita Income
$ 25205
Per Capita Income Growth (2010-2022)
32.4 %
Gini Index
0.4443*
Poverty Rate
16.4 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov