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Lawrence County, Alabama, exhibits a challenging economic landscape, with an annual GDP of approximately 729 million dollars and a GDP per capita of just over 22,000 dollars, significantly lower than the state average of about 56,000 dollars and the national average of 77,754 dollars. The county's GDP growth rate has declined by 3.1% in the last year, contrasting with Alabama's growth rate of 1.7% and the national rate of 1.9%. While goods-producing sectors contribute 16.3% to Lawrence County's GDP, the service sector dominates at 65.7%, indicating a reliance on services. Comparatively, counties like Madison and Jefferson show stronger economic performance, with higher GDPs and growth rates, highlighting the need for Lawrence County to enhance its economic strategies to foster growth and improve living standards.
Lawrence County, AL exhibits an employment rate of 66.1% for individuals aged 20-64, which is below the Alabama state average of 68.7% and significantly lower than the national average of 73.8%. However, it stands out with a remarkably high employment rate of 93% for those with a Bachelor's degree, surpassing both the state (82.6%) and national (84.3%) figures. The county's employment rate for high school graduates is also lower than the state average (61.3% vs. 63.3%). Additionally, the employment rate for Black residents in Lawrence County is 47.4%, which is notably lower than the state average of 52.5%. Overall, while Lawrence County shows strengths in higher education employment, it faces challenges in overall employment rates compared to both state and national benchmarks.
Lawrence County, AL, exhibits a mean household income of $54,786 and a median household income of $72,948, which are notably lower than both the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $29,486, reflecting economic challenges compared to the state average of $33,344. Additionally, 15.5% of households earn less than $20,000, which is slightly better than Alabama's 16.6%. In terms of income inequality, Lawrence County's Gini index of 0.4483 is lower than the state average of 0.4797, indicating a more equitable income distribution. Overall, while Lawrence County faces economic hurdles, it shows a relatively balanced income distribution compared to other counties in Alabama.