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Etowah County, Alabama, has an annual GDP of approximately 3.49 billion dollars, with a GDP per capita of 33,763 dollars, significantly lower than the state average of 55,999 dollars and the national average of 77,754 dollars. The county's GDP growth rate over the last year was a modest 0.8%, and it has experienced a negative compound annual growth rate (CAGR) of -1.08% over the past 13 years, indicating economic stagnation. In terms of economic structure, 17.2% of its GDP comes from goods-producing industries, while the service sector contributes 69.7%, reflecting a reliance on services similar to the state average of 62.3%. Compared to other counties in Alabama, Etowah's economic performance is weaker, particularly when contrasted with counties like Madison, which boasts a GDP per capita of 82,902 dollars and a robust growth rate of 3.4%.
Etowah County, AL exhibits an employment rate of 68.4% for individuals aged 20-64, which is slightly below the Alabama state average of 68.7% and significantly lower than the national average of 73.8%. The county's employment rate for those with a Bachelor's degree stands at 83.2%, aligning closely with the state rate of 82.6% but still trailing the national figure of 84.3%. Notably, the employment rate for high school graduates in Etowah County is 66.6%, surpassing Alabama's 63.3%. Comparatively, counties like Madison (74.4%) and Shelby (78.3%) show stronger employment rates, indicating potential areas for economic improvement in Etowah. The county's employment rates for Black individuals (53.5%) and females (66%) also reflect broader trends seen across Alabama, where disparities persist. Overall, while Etowah County performs reasonably well in certain areas, it faces challenges in boosting overall employment relative to both state and national benchmarks.
Etowah County, AL exhibits a mean household income of $52,177 and a median household income of $69,693, both of which are significantly lower than the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $28,479, indicating economic challenges compared to the state and national figures, where the U.S. mean is $75,149. Additionally, 17.5% of households earn less than $20,000, which is higher than Alabama's state average of 16.6%. The income inequality, as measured by the Gini index of 0.4556, suggests a relatively balanced income distribution compared to other counties like Jefferson (0.5049) and Shelby (0.4441). Overall, Etowah County's economic indicators reflect a need for growth and development to align more closely with state and national standards.