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Economy Profile

Hidalgo County

  • Texas State
  • October, 2024
TSAC-CFD-48215

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 27685464
AVG Real Growth (2017-2022)
1.96 %
Unemployment Rate (May, 2024)
6.7 %
Labor Force Size
386788
Number of Businesses
13995
Average Annual Wage
$ 41690

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 27685464
GDP Per Capita
$ 31707
GDP Growth Rate (2022)
1.4 %
Average Growth Rate (2017-2022)
1.96 %
Goods Producing Contribution (%)
9.3%
Service Providing Contribution (%)
69.9%
Goverment Contribution
20.8%
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
386788
Labor Force Growth
2.87%
Unemployment
25738
Unemployment Rate
6.7%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
67.3%
Employment Rate (with Bachelor's Degree)
82.3%
Employment Rate (75+ y.o.)
4%
Employment Rate (Black)
46.2%
Employment Rate (Female)
58.8%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
13995
Number of Employment
287428
Annual Average Wages
$ 41690
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 51920
Service-providing (avg pay)
$ 36569
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 49371
Household Income (Median)
$ 68145
Per Capita Income
$ 20844
Per Capita Income Growth (2010-2022)
54.6 %
Gini Index
0.4780*
Poverty Rate
27.7 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov