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Clay County, Alabama, exhibits a modest economic profile with an annual GDP of approximately 520 million dollars and a GDP per capita of about 36,575 dollars. The county's GDP growth rate over the past year is a mere 0.2%, which is significantly lower than the state average of 1.7% and the national average of 1.9%. However, Clay County has a notable reliance on goods-producing industries, contributing 54.1% to its GDP, which is considerably higher than the state’s 22.2% and the national average of 17.4%. This focus on goods production may provide resilience against economic fluctuations but also indicates a potential vulnerability if these sectors face downturns. Comparatively, counties like Jefferson and Madison show higher GDPs and growth rates, highlighting Clay County's need for diversification and growth strategies to enhance its economic standing within Alabama.
Clay County, AL exhibits a notably lower employment rate for individuals aged 20-64 at 61.5%, significantly trailing behind the state average of 68.7% and the national average of 73.8%. While the employment rate for those with a Bachelor's degree is relatively strong at 82.1%, it still reflects a gap compared to the national figure of 84.3%. The county's employment rate for high school graduates is also below the state average of 63.3%. Furthermore, the employment rate for Black residents in Clay County is particularly concerning at 35.5%, which is substantially lower than both the state (52.5%) and national averages (57.2%). Overall, these figures suggest that Clay County faces challenges in workforce participation, particularly among younger and minority populations, indicating a need for targeted economic development initiatives.
Clay County, AL exhibits significant economic challenges compared to both state and national averages. With a mean household income of $48,074 and a median household income of $69,549, Clay County falls below Alabama's state averages of $59,609 and $82,992, respectively. The county's income per capita of $27,991 is notably lower than the state average of $33,344, indicating a lower standard of living. Additionally, 20.5% of households earn less than $20,000, which is higher than Alabama's 16.6%. In contrast, counties like Madison and Shelby show much stronger economic indicators, with mean household incomes exceeding $78,000 and $90,000, respectively. This disparity highlights the need for targeted economic development strategies in Clay County to improve income levels and reduce poverty rates.