LotsCap

Economy Profile

Henry County

  • Alabama State
  • October, 2024
TSAC-CFD-01067

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 582158
AVG Real Growth (2017-2022)
1.28 %
Unemployment Rate (May, 2024)
3.4 %
Labor Force Size
7262
Number of Businesses
422
Average Annual Wage
$ 52484

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 582158
GDP Per Capita
$ 33686
GDP Growth Rate (2022)
-3.3 %
Average Growth Rate (2017-2022)
1.28 %
Goods Producing Contribution (%)
35.2%
Service Providing Contribution (%)
54%
Goverment Contribution
10.8%
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
7262
Labor Force Growth
1.85%
Unemployment
250
Unemployment Rate
3.4%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
68%
Employment Rate (with Bachelor's Degree)
85.7%
Employment Rate (75+ y.o.)
2%
Employment Rate (Black)
43%
Employment Rate (Female)
65.5%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
422
Number of Employment
3922
Annual Average Wages
$ 52484
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 62337
Service-providing (avg pay)
$ 50693
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 58395
Household Income (Median)
$ 73705
Per Capita Income
$ 30273
Per Capita Income Growth (2010-2022)
53.5 %
Gini Index
0.4655*
Poverty Rate
15.5 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov