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Economy Profile

Hempstead County

  • Arkansas State
  • October, 2024
TSAC-CFD-05057

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 1266142
AVG Real Growth (2017-2022)
0.3 %
Unemployment Rate (May, 2024)
4.4 %
Labor Force Size
8718
Number of Businesses
509
Average Annual Wage
$ 43985

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 1266142
GDP Per Capita
$ 63190
GDP Growth Rate (2022)
5.7 %
Average Growth Rate (2017-2022)
0.3 %
Goods Producing Contribution (%)
33.5%
Service Providing Contribution (%)
56.2%
Goverment Contribution
10.3%
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
8718
Labor Force Growth
-3.37%
Unemployment
387
Unemployment Rate
4.4%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
63%
Employment Rate (with Bachelor's Degree)
77.4%
Employment Rate (75+ y.o.)
17.5%
Employment Rate (Black)
48.8%
Employment Rate (Female)
54.6%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
509
Number of Employment
7777
Annual Average Wages
$ 43985
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 52364
Service-providing (avg pay)
$ 37083
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 45049
Household Income (Median)
$ 62956
Per Capita Income
$ 25577
Per Capita Income Growth (2010-2022)
48.9 %
Gini Index
0.4728*
Poverty Rate
23.0 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov