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Hale County, Alabama, presents a challenging economic landscape, with an annual GDP of approximately 297 million dollars and a GDP per capita of just 20,177 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 has plummeted by 8.7% over the last year, contrasting sharply with Alabama's overall growth rate of 1.7% and the national rate of 1.9%. Additionally, Hale County's 13-year compound annual growth rate (CAGR) of -4.74% indicates a long-term economic decline, while its goods-producing sector contributes 26.4% to the GDP, higher than the state average of 22.2%. This suggests a reliance on manufacturing or agriculture, yet the overall economic performance lags behind more prosperous counties like Jefferson and Madison, highlighting the need for targeted economic revitalization strategies.
Hale County, AL exhibits a notably low employment rate of 62.9% for individuals aged 20-64, significantly below the Alabama state average of 68.7% and the national average of 73.8%. However, the county shows a strong employment rate of 86.2% for those with a Bachelor's degree, which is higher than both the state (82.6%) and national (84.3%) figures. The high school graduate employment rate is concerningly low at 52.6%, compared to Alabama's 63.3%, indicating potential challenges in job accessibility for those without higher education. Additionally, the employment rate for Black residents in Hale County is 42.2%, which is substantially lower than the state average of 52.5%. Overall, Hale County faces significant employment challenges, particularly for less-educated populations, highlighting a need for targeted economic development initiatives.
Hale County, AL, exhibits significant economic challenges compared to both state and national averages. With a mean household income of $35,851 and a median household income of $59,052, Hale County falls well below Alabama's state averages of $59,609 and $82,992, respectively. The county's income per capita of $23,690 is notably lower than the state average of $33,344, indicating a higher prevalence of low-income households, as evidenced by 30.2% of families earning less than $20,000. Additionally, the income inequality, reflected in a Gini index of 0.5119, suggests a growing disparity in wealth distribution. In comparison to nearby counties, Hale County's economic indicators highlight a pressing need for targeted economic development initiatives to improve living standards and reduce poverty levels.