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Economy Profile

Cherokee County

  • Alabama State
  • October, 2024
TSAC-CFD-01019

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 735077
AVG Real Growth (2017-2022)
1.86 %
Unemployment Rate (May, 2024)
2.8 %
Labor Force Size
12103
Number of Businesses
487
Average Annual Wage
$ 43228

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 735077
GDP Per Capita
$ 29322
GDP Growth Rate (2022)
2 %
Average Growth Rate (2017-2022)
1.86 %
Goods Producing Contribution (%)
28.1%
Service Providing Contribution (%)
56.9%
Goverment Contribution
14.9%
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
12103
Labor Force Growth
2.85%
Unemployment
343
Unemployment Rate
2.8%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
66.7%
Employment Rate (with Bachelor's Degree)
77.9%
Employment Rate (75+ y.o.)
1.8%
Employment Rate (Black)
45.9%
Employment Rate (Female)
61.1%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
487
Number of Employment
5303
Annual Average Wages
$ 43228
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 52967
Service-providing (avg pay)
$ 38918
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 46621
Household Income (Median)
$ 65664
Per Capita Income
$ 28422
Per Capita Income Growth (2010-2022)
33.3 %
Gini Index
0.4484*
Poverty Rate
14.3 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov