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Calhoun County, Alabama, has an annual GDP of approximately 5.5 billion dollars, with a GDP per capita of about 47,058 dollars. The county experienced a slight decline in GDP growth of 0.4% over the last year, contrasting with the state's growth rate of 1.7% and the national rate of 1.9%. Over the past 13 years, Calhoun's compound annual growth rate (CAGR) stands at 1.68%, which is relatively stable but lower than the national average of 2.2%. The county's economy is characterized by a significant goods-producing sector, contributing 25.4% to its GDP, while service-providing industries account for 51.8%. Compared to other counties in Alabama, Calhoun's GDP per capita is on the lower end, indicating potential challenges in economic development relative to more prosperous counties like Jefferson and Madison.
Calhoun County, AL, exhibits an employment rate of 66.5% for individuals aged 20-64, which is below the Alabama state average of 68.7% and significantly lower than the national average of 73.8%. The county's employment rate for those with a Bachelor's degree stands at 80.9%, slightly below the state average of 82.6% but comparable to the national figure of 84.3%. Notably, the employment rate for high school graduates in Calhoun is 63%, aligning with the state average of 63.3%. The county's employment rates for Black individuals (52.9%) and females (60.8%) also trail behind state averages of 52.5% and 64.3%, respectively. Overall, Calhoun County faces challenges in employment compared to both state and national benchmarks, indicating potential areas for economic development and workforce improvement.
Calhoun County, AL, exhibits a mean household income of $54,339 and a median household income of $69,213, both of which are significantly lower than the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $28,227, indicating economic challenges compared to the state’s $33,344. Notably, 18.9% of households earn less than $20,000, which is higher than the state average of 16.6%. In comparison to neighboring counties, Calhoun's income levels are below those of Jefferson and Madison Counties, which have mean incomes of $63,595 and $78,058, respectively. This suggests that Calhoun County faces economic hurdles that may require targeted interventions to improve income levels and reduce poverty rates.