Economy Profile
Cullman County
- Alabama State
- October, 2024
TSAC-CFD-01043
Snapshot
-
GDP (2022, Thousands)
$ 3,826,972
AVG Real Growth (2017-2022)
2.04 %
Unemployment Rate (May, 2024)
2.6 %
Labor Force Size
40,254
Number of Businesses
2,238
Average Annual Wage
$ 49,732
Economy Structure
Population & Household section gives reader an outlook. of general population profile, structure, and outlook.
GDP
GDP (2022, Thousands)
$ 3,826,972
GDP Per Capita
$ 43,348
GDP Growth Rate (2022)
3.1 %
Average Growth Rate (2017-2022)
2.04 %
Goods Producing Contribution (%)
33.7%
Service Providing Contribution (%)
56%
Goverment Contribution
10.3%
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
40,254
Labor Force Growth
1.27%
Unemployment
1,059
Unemployment Rate
2.6%
Unemployment Rate
Source: Census.gov | S2301
Employment Profile
Employment Rate (20-64 y.o.)
71.2%
Employment Rate (with Bachelor's Degree)
82.1%
Employment Rate (75+ y.o.)
6.5%
Employment Rate (Black)
41.5%
Employment Rate (Female)
64.8%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301
Employment by Sectors
Number of Companies
2,238
Number of Employment
30,706
Annual Average Wages
$ 49,732
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 59,093
Service-providing (avg pay)
$ 46,046
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS
Income
Household Income (Mean)
$ 58,119
Household Income (Median)
$ 75,873
Per Capita Income
$ 29,788
Per Capita Income Growth (2010-2022)
46.9 %
Gini Index
0.4425*
Poverty Rate
13.0 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov