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Economy Profile

Montgomery County

  • Alabama State
  • October, 2024
TSAC-CFD-01101

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 16757043
AVG Real Growth (2017-2022)
0.62 %
Unemployment Rate (May, 2024)
3.2 %
Labor Force Size
110003
Number of Businesses
7141
Average Annual Wage
$ 59109

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 16757043
GDP Per Capita
$ 73453
GDP Growth Rate (2022)
1.5 %
Average Growth Rate (2017-2022)
0.62 %
Goods Producing Contribution (%)
14.3%
Service Providing Contribution (%)
59.9%
Goverment Contribution
25.8%
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
110003
Labor Force Growth
1.41%
Unemployment
3557
Unemployment Rate
3.2%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
66.9%
Employment Rate (with Bachelor's Degree)
77.6%
Employment Rate (75+ y.o.)
9%
Employment Rate (Black)
54.9%
Employment Rate (Female)
65.9%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
7141
Number of Employment
131103
Annual Average Wages
$ 59109
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 69710
Service-providing (avg pay)
$ 52433
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 56707
Household Income (Median)
$ 79962
Per Capita Income
$ 32769
Per Capita Income Growth (2010-2022)
33.1 %
Gini Index
0.4950*
Poverty Rate
19.6 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov