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Economy Profile

Madison County

  • Arkansas State
  • October, 2024
TSAC-CFD-05087

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 595458
AVG Real Growth (2017-2022)
5.5 %
Unemployment Rate (May, 2024)
3.1 %
Labor Force Size
8314
Number of Businesses
289
Average Annual Wage
$ 43833

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 595458
GDP Per Capita
$ 35577
GDP Growth Rate (2022)
13 %
Average Growth Rate (2017-2022)
5.5 %
Goods Producing Contribution (%)
49.7%
Service Providing Contribution (%)
41.8%
Goverment Contribution
8.5%
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
8314
Labor Force Growth
3.14%
Unemployment
256
Unemployment Rate
3.1%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
68.9%
Employment Rate (with Bachelor's Degree)
77.8%
Employment Rate (75+ y.o.)
6.1%
Employment Rate (Black)
0%
Employment Rate (Female)
63.9%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
289
Number of Employment
3532
Annual Average Wages
$ 43833
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 47323
Service-providing (avg pay)
$ 41217
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 51514
Household Income (Median)
$ 70891
Per Capita Income
$ 27709
Per Capita Income Growth (2010-2022)
48.9 %
Gini Index
0.4553*
Poverty Rate
16.5 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov