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Jefferson County, Alabama, boasts an annual GDP of approximately 57.9 billion dollars, with a GDP per capita of 86,076 dollars, significantly higher than the state average of 55,999 dollars. The county's GDP growth rate for the past year stands at 1.7%, mirroring the state's growth but slightly below the national rate of 1.9%. Over the past 13 years, Jefferson County has experienced a compound annual growth rate (CAGR) of 1.76%, which is comparable to Alabama's 1.72%. The service sector dominates the county's economy, contributing 74.7% to its GDP, reflecting a trend seen across Alabama, where services account for 62.3%. In contrast, Jefferson County's goods-producing sector is relatively smaller at 12.8%, indicating a shift towards a service-oriented economy, which is consistent with national trends. Overall, Jefferson County stands out as a key economic player in Alabama, with a robust per capita income and a stable growth trajectory.
Jefferson County, AL, exhibits a relatively strong employment landscape, with an employment rate of 71.8% for individuals aged 20-64, surpassing the state average of 68.7% but falling short of the national average of 73.8%. Notably, the county's employment rate for those with a Bachelor's degree is impressive at 84.4%, slightly above Alabama's 82.6% and comparable to the national figure of 84.3%. However, the county's employment rate for high school graduates (63%) is lower than both the state (63.3%) and national averages (67.9%). The employment rate for Black residents in Jefferson County (55%) is also higher than Alabama's average (52.5%) but lower than the national average (57.2%). Overall, Jefferson County demonstrates a robust educational impact on employment, yet it faces challenges in high school graduate employment compared to broader benchmarks.
Jefferson County, AL, exhibits a mean household income of $63,595 and a median household income of $93,745, which are notably higher than the state averages of $59,609 and $82,992, respectively. However, both figures fall short of the national averages of $75,149 and $105,833. The county's income per capita stands at $38,224, indicating a moderate economic standing compared to Alabama's $33,344. Jefferson County's income inequality, as measured by the Gini index at 0.5049, is higher than the state average of 0.4797, suggesting a more pronounced disparity in income distribution. In comparison to other counties in Alabama, Jefferson County ranks favorably in income metrics, though it still faces challenges with income inequality, reflecting broader economic trends within the state.