LotsCap

Economy Profile

Hale County

  • Alabama State
  • October, 2024
TSAC-CFD-01065

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 297453
AVG Real Growth (2017-2022)
-4.74 %
Unemployment Rate (May, 2024)
4.2 %
Labor Force Size
6083
Number of Businesses
319
Average Annual Wage
$ 46742

Economy Structure

Population & Household section gives reader an outlook. of general population profile, structure, and outlook.

GDP

GDP (2022, Thousands)
$ 297453
GDP Per Capita
$ 20177
GDP Growth Rate (2022)
-8.7 %
Average Growth Rate (2017-2022)
-4.74 %
Goods Producing Contribution (%)
26.4%
Service Providing Contribution (%)
50.5%
Goverment Contribution
23.1%
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
6083
Labor Force Growth
2.1%
Unemployment
255
Unemployment Rate
4.2%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
62.9%
Employment Rate (with Bachelor's Degree)
86.2%
Employment Rate (75+ y.o.)
4.2%
Employment Rate (Black)
42.2%
Employment Rate (Female)
61.1%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
319
Number of Employment
2614
Annual Average Wages
$ 46742
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 65900
Service-providing (avg pay)
$ 35820
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 35851
Household Income (Median)
$ 59052
Per Capita Income
$ 23690
Per Capita Income Growth (2010-2022)
43.4 %
Gini Index
0.5119*
Poverty Rate
25.0 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov