LotsCap

Economy Profile

Washington County

  • Alabama State
  • October, 2024
TSAC-CFD-01129

Table of Content

Snapshot

-

GDP (2022, Thousands)
$ 1068587
AVG Real Growth (2017-2022)
0.54 %
Unemployment Rate (May, 2024)
3 %
Labor Force Size
9069
Number of Businesses
313
Average Annual Wage
$ 89254

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 1068587
GDP Per Capita
$ 69236
GDP Growth Rate (2022)
-0.6 %
Average Growth Rate (2017-2022)
0.54 %
Goods Producing Contribution (%)
64.8%
Service Providing Contribution (%)
28.5%
Goverment Contribution
6.7%
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
9069
Labor Force Growth
-0.47%
Unemployment
275
Unemployment Rate
3%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
58.3%
Employment Rate (with Bachelor's Degree)
81.5%
Employment Rate (75+ y.o.)
6.6%
Employment Rate (Black)
33.1%
Employment Rate (Female)
49.2%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
313
Number of Employment
6079
Annual Average Wages
$ 89254
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 112226
Service-providing (avg pay)
$ 58090
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 51184
Household Income (Median)
$ 76832
Per Capita Income
$ 29210
Per Capita Income Growth (2010-2022)
55.2 %
Gini Index
0.4965*
Poverty Rate
15.8 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov