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Cullman County, Alabama, has an annual GDP of approximately 3.83 billion dollars, with a GDP per capita of 43,348 dollars. The county's GDP growth rate for the last year stands at 3.1%, which is above Alabama's state growth rate of 1.7% and reflects a positive trend compared to the national growth rate of 1.9%. Over the past 13 years, Cullman County has experienced a compound annual growth rate (CAGR) of 2.04%, indicating steady economic development. The goods-producing sector contributes significantly to the local economy at 33.7%, higher than the state average of 22.2%, while the service-providing sector accounts for 56%. This positions Cullman County as a robust player in Alabama's economy, particularly in manufacturing and agriculture, distinguishing it from other counties like Jefferson and Madison, which have higher GDPs but lower goods-producing contributions.
Cullman County, AL exhibits a relatively strong employment landscape, with an employment rate of 71.2% 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 stands at 82.1%, which is slightly below Alabama's average of 82.6%. Notably, Cullman County has a higher high school graduate employment rate (66.8%) compared to the state (63.3%). However, the employment rate for Black residents in Cullman (41.5%) is significantly lower than both the state (52.5%) and national averages (57.2%), indicating potential disparities in employment opportunities. Overall, while Cullman County shows promising employment figures, it still faces challenges in equity and higher educational attainment compared to other counties in Alabama.
Cullman County, AL exhibits a mean household income of $58,119 and a median household income of $75,873, which are below both the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $29,788, indicating a lower economic output per individual compared to the state average of $33,344. Notably, Cullman County has a relatively low income inequality, with a Gini index of 0.4425, suggesting a more equitable income distribution than the state (0.4797) and national levels (0.4829). Additionally, 7.8% of households earn over $200K, which is slightly below the state average of 8.7%. Overall, while Cullman County's income metrics reflect economic challenges, its lower income inequality may indicate a more stable community compared to other counties in Alabama.