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Colbert County, Alabama, has an annual GDP of approximately 3.16 billion dollars, with a GDP per capita of about 55,157 dollars. The county's GDP growth rate for the last year stands at 3.3%, which is notably higher than Alabama's overall growth rate of 1.7% and reflects a positive trend compared to the national average of 1.9%. Colbert County's economy is characterized by a significant contribution from the goods-producing sector at 41.3%, which is above the state average of 22.2%, indicating a robust manufacturing or industrial base. In comparison to other counties in Alabama, such as Jefferson County with a GDP per capita of 86,076 dollars, Colbert County shows potential for growth, particularly in diversifying its economic contributions beyond goods production and services.
Colbert County, AL exhibits a relatively strong employment landscape, with an employment rate of 71.1% for individuals aged 20-64, surpassing the state average of 68.7% but falling short of the national average of 73.8%. The county's employment rate for those with a Bachelor's degree is notably high at 84.8%, which is above both the state (82.6%) and national (84.3%) figures. However, the employment rate for high school graduates at 64.3% is slightly above Alabama's average of 63.3%, indicating a modestly skilled workforce. Comparatively, Colbert County's employment rates for Black individuals (54.1%) and females (65.8%) are also better than the state averages of 52.5% and 64.3%, respectively, suggesting a more inclusive job market. Overall, Colbert County demonstrates a competitive employment environment within Alabama, particularly for educated workers.
Colbert County, AL exhibits a mean household income of $56,149 and a median household income of $71,460, which are below both the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $30,724, indicating a lower economic output per individual compared to the state average of $33,344. Notably, Colbert County has a higher percentage of households earning less than $20,000 (17.8%) than the state average (16.6%), suggesting greater economic vulnerability. In comparison to nearby counties, such as Lauderdale County ($56,081 mean income) and Marshall County ($58,272), Colbert's economic indicators reflect a challenging landscape, emphasizing the need for targeted economic development initiatives to enhance income levels and reduce poverty rates.