Economy Profile
Choctaw County
- Alabama State
- October, 2024
TSAC-CFD-01023
Snapshot
-
GDP (2022, Thousands)
$ 750,095
AVG Real Growth (2017-2022)
2.06 %
Unemployment Rate (May, 2024)
4.7 %
Labor Force Size
4,146
Number of Businesses
365
Average Annual Wage
$ 58,492
Economy Structure
Population & Household section gives reader an outlook. of general population profile, structure, and outlook.
GDP
GDP (2022, Thousands)
$ 750,095
GDP Per Capita
$ 59,207
GDP Growth Rate (2022)
6.5 %
Average Growth Rate (2017-2022)
2.06 %
Goods Producing Contribution (%)
66.6%
Service Providing Contribution (%)
28.2%
Goverment Contribution
5.2%
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
4,146
Labor Force Growth
-0.24%
Unemployment
196
Unemployment Rate
4.7%
Unemployment Rate
Source: Census.gov | S2301
Employment Profile
Employment Rate (20-64 y.o.)
59.6%
Employment Rate (with Bachelor's Degree)
79.2%
Employment Rate (75+ y.o.)
1.2%
Employment Rate (Black)
41.5%
Employment Rate (Female)
51.8%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301
Employment by Sectors
Number of Companies
365
Number of Employment
3,322
Annual Average Wages
$ 58,492
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 85,849
Service-providing (avg pay)
$ 38,688
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS
Income
Household Income (Mean)
$ 43,299
Household Income (Median)
$ 61,685
Per Capita Income
$ 26,343
Per Capita Income Growth (2010-2022)
53 %
Gini Index
0.4675*
Poverty Rate
19.1 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov