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Lauderdale County, Alabama, has an annual GDP of approximately 3.38 billion dollars, with a GDP per capita of about 35,847 dollars. The county's GDP growth rate over the last year was a modest 0.7%, and its compound annual growth rate (CAGR) over the past 13 years stands at 0.9%. This performance is notably below the state average GDP per capita of 55,999 dollars and the national average of 77,754 dollars. In comparison to other counties in Alabama, Lauderdale's economic growth is relatively stagnant, especially when contrasted with Madison County, which boasts a GDP growth rate of 3.4% and a GDP per capita of 82,902 dollars. The county's government contribution to GDP is 15.3%, indicating a significant reliance on public sector activities, which may be a factor in its slower economic growth.
Lauderdale County, AL exhibits a relatively strong employment landscape, with a 71.5% employment rate for individuals aged 20-64, surpassing the state average of 68.7% but falling short of the national average of 73.8%. The county's employment rate for those with a Bachelor's degree stands at 81.2%, slightly below Alabama's 82.6% but comparable to nearby counties like Madison (82.6%) and Jefferson (84.4%). Notably, the employment rate for high school graduates in Lauderdale County is 66%, which is higher than the state average of 63.3%. However, the employment rate for Black individuals at 51.9% is lower than both the state (52.5%) and national averages (57.2%). Overall, while Lauderdale County shows promising employment figures, there remains room for improvement, particularly in enhancing opportunities for minority groups.
Lauderdale County, AL exhibits a mean household income of $56,081 and a median household income of $76,624, which are below the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $32,678, also trailing behind the state figure of $33,344. Notably, only 6.7% of households earn over $200,000, which is lower than the state average of 8.7%. Additionally, 16.1% of households earn less than $20,000, indicating a higher level of economic vulnerability compared to the state’s 16.6%. In comparison to other counties in Alabama, Lauderdale County's income metrics suggest a moderate economic standing, with counties like Madison and Shelby showing significantly higher income levels, highlighting potential areas for economic development and growth.