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Economy Profile

Randolph County

  • Alabama State
  • October, 2024
TSAC-CFD-01111

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 652558
AVG Real Growth (2017-2022)
1.3 %
Unemployment Rate (May, 2024)
3.3 %
Labor Force Size
9800
Number of Businesses
462
Average Annual Wage
$ 42165

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 652558
GDP Per Capita
$ 29422
GDP Growth Rate (2022)
2.1 %
Average Growth Rate (2017-2022)
1.3 %
Goods Producing Contribution (%)
34.4%
Service Providing Contribution (%)
51.5%
Goverment Contribution
14.1%
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
9800
Labor Force Growth
1.4%
Unemployment
322
Unemployment Rate
3.3%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
63.1%
Employment Rate (with Bachelor's Degree)
75.7%
Employment Rate (75+ y.o.)
1.9%
Employment Rate (Black)
48.5%
Employment Rate (Female)
54.7%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
462
Number of Employment
4882
Annual Average Wages
$ 42165
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 44419
Service-providing (avg pay)
$ 40054
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 49879
Household Income (Median)
$ 67742
Per Capita Income
$ 27558
Per Capita Income Growth (2010-2022)
38.9 %
Gini Index
0.4697*
Poverty Rate
19.9 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov