Economy Profile
Colbert County
- Alabama State
- October, 2024
TSAC-CFD-01033
Snapshot
-
GDP (2022, Thousands)
$ 3,158,864
AVG Real Growth (2017-2022)
1.48 %
Unemployment Rate (May, 2024)
3.6 %
Labor Force Size
24,442
Number of Businesses
1,542
Average Annual Wage
$ 56,650
Economy Structure
Population & Household section gives reader an outlook. of general population profile, structure, and outlook.
GDP
GDP (2022, Thousands)
$ 3,158,864
GDP Per Capita
$ 55,157
GDP Growth Rate (2022)
3.3 %
Average Growth Rate (2017-2022)
1.48 %
Goods Producing Contribution (%)
41.3%
Service Providing Contribution (%)
42%
Goverment Contribution
16.7%
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
24,442
Labor Force Growth
1.5%
Unemployment
876
Unemployment Rate
3.6%
Unemployment Rate
Source: Census.gov | S2301
Employment Profile
Employment Rate (20-64 y.o.)
71.1%
Employment Rate (with Bachelor's Degree)
84.8%
Employment Rate (75+ y.o.)
4.8%
Employment Rate (Black)
54.1%
Employment Rate (Female)
65.8%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301
Employment by Sectors
Number of Companies
1,542
Number of Employment
24,177
Annual Average Wages
$ 56,650
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 68,816
Service-providing (avg pay)
$ 44,516
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS
Income
Household Income (Mean)
$ 56,149
Household Income (Median)
$ 71,460
Per Capita Income
$ 30,724
Per Capita Income Growth (2010-2022)
45.8 %
Gini Index
0.4488*
Poverty Rate
15.9 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov