-
Henry County, Alabama, has an annual GDP of approximately 582 million dollars, with a GDP per capita of about 33,686 dollars. The county experienced a significant GDP decline of 3.3% in the last year, contrasting with the state's growth rate of 1.7% and the national rate of 1.9%. Over the past 13 years, Henry County's GDP growth rate has averaged 1.28%, which is below Alabama's 1.72% and the national average of 2.2%. Notably, the county's goods-producing sector contributes 35.2% to its GDP, a higher proportion than both the state (22.2%) and national (17.4%) averages, indicating a strong industrial base. However, the overall economic performance suggests challenges, particularly in sustaining growth compared to more prosperous counties like Jefferson and Madison, which have higher GDPs and growth rates.
Henry County, AL exhibits an employment rate of 68% 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%. However, the county shows a strong employment rate of 85.7% for those with a Bachelor's degree, surpassing both the state (82.6%) and national (84.3%) figures. The high school graduate employment rate at 59.7% is notably lower than the state average of 63.3%, indicating potential challenges for those without higher education. Additionally, the employment rate for Black residents at 43% is considerably lower than the state average of 52.5%, highlighting disparities that may need addressing. Overall, while Henry County performs well in higher education employment, it faces challenges in overall employment rates and equity among different demographic groups.
Henry County, AL exhibits a mean household income of $58,395 and a median household income of $73,705, which are below the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $30,273, indicating a lower economic output per individual compared to the state average of $33,344. Notably, Henry County has a higher percentage of households earning over $200K (10.6%) than the state average (8.7%), yet it also faces a significant challenge with 21.6% of households earning less than $20K, surpassing the state rate of 16.6%. This duality highlights economic disparities within the county, suggesting a need for targeted economic development strategies to uplift lower-income households while fostering growth among higher earners. Comparatively, Henry County's economic indicators reflect a mixed performance relative to both state and national benchmarks.