Economy Profile

Bibb County

TSAC-CFD-01007

Snapshot

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GDP (2022, Thousands)
$ 558848
AVG Real Growth (2017-2022)
2.08 %
Unemployment Rate (May, 2024)
3.1 %
Labor Force Size
8959
Number of Businesses
433
Average Annual Wage
$ 51268

Economy Structure

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

GDP

Bibb County, Alabama, has an annual GDP of approximately 558.8 million dollars, with a GDP per capita of 25,116 dollars, significantly lower than the state average of 55,999 dollars and the national average of 77,754 dollars. The county experienced a GDP growth rate of -2.1% in the last year, contrasting with Alabama's growth rate of 1.7% and the national rate of 1.9%. Despite this downturn, Bibb County's GDP growth rate over the past 13 years has been a positive 2.08%. The county's economy is characterized by a strong goods-producing sector, contributing 31.6% to its GDP, which is higher than the state average of 22.2%. However, the service sector's contribution of 49.2% is below the state average of 62.3%, indicating potential for growth in service-oriented industries. Overall, Bibb County's economic performance highlights challenges compared to both state and national levels, particularly in per capita income and recent growth trends.

GDP (2022, Thousands)
$ 558848
GDP Per Capita
$ 25116
GDP Growth Rate (2022)
-2.1 %
Average Growth Rate (2017-2022)
2.08 %
Goods Producing Contribution (%)
31.6%
Service Providing Contribution (%)
49.2%
Goverment Contribution
19.2%
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
8959
Labor Force Growth
1.39%
Unemployment
282
Unemployment Rate
3.1%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Bibb County, AL, exhibits a notably low employment rate of 55.7% for individuals aged 20-64, significantly trailing behind the state average of 68.7% and the national average of 73.8%. The county's employment rate for high school graduates is particularly concerning at just 49.6%, compared to Alabama's 63.3% and the national figure of 67.9%. Additionally, the employment rate for Black residents in Bibb County is only 31.4%, which is substantially lower than Alabama's 52.5% and the national average of 57.2%. While the county's employment rate for those with a bachelor's degree (81%) aligns closely with state and national figures, the overall workforce participation challenges highlight a pressing need for economic development initiatives. Compared to neighboring counties like Jefferson and Madison, which have higher employment rates, Bibb County's figures suggest a need for targeted interventions to boost local employment opportunities.

Employment Rate (20-64 y.o.)
55.7%
Employment Rate (with Bachelor's Degree)
81%
Employment Rate (75+ y.o.)
2.1%
Employment Rate (Black)
31.4%
Employment Rate (Female)
60.8%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
433
Number of Employment
4815
Annual Average Wages
$ 51268
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 68799
Service-providing (avg pay)
$ 42723
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Bibb County, AL, exhibits a mean household income of $50,669 and a median household income of $65,131, both significantly lower than the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $24,966, which is also below the state average of $33,344. Notably, 24.4% of households earn less than $20,000, a stark contrast to the state rate of 16.6%. In comparison to neighboring counties, Bibb County's income levels are among the lowest, with only Mobile County showing a lower mean household income. The income inequality, as indicated by the Gini index of 0.4553, suggests a relatively balanced income distribution compared to the state average of 0.4797. This data highlights the economic challenges faced by Bibb County, emphasizing the need for targeted economic development initiatives.

Household Income (Mean)
$ 50669
Household Income (Median)
$ 65131
Per Capita Income
$ 24966
Per Capita Income Growth (2010-2022)
25.3 %
Gini Index
0.4553*
Poverty Rate
20.6 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov