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Economy Profile

Lawrence County

  • Alabama State
  • October, 2024
TSAC-CFD-01079

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 729478
AVG Real Growth (2017-2022)
1.8 %
Unemployment Rate (May, 2024)
3 %
Labor Force Size
15289
Number of Businesses
571
Average Annual Wage
$ 47684

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 729478
GDP Per Capita
$ 22028
GDP Growth Rate (2022)
-3.1 %
Average Growth Rate (2017-2022)
1.8 %
Goods Producing Contribution (%)
16.3%
Service Providing Contribution (%)
65.7%
Goverment Contribution
18%
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
15289
Labor Force Growth
1.95%
Unemployment
463
Unemployment Rate
3%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
66.1%
Employment Rate (with Bachelor's Degree)
93%
Employment Rate (75+ y.o.)
7.6%
Employment Rate (Black)
47.4%
Employment Rate (Female)
57.3%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
571
Number of Employment
5397
Annual Average Wages
$ 47684
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 55577
Service-providing (avg pay)
$ 46620
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 54786
Household Income (Median)
$ 72948
Per Capita Income
$ 29486
Per Capita Income Growth (2010-2022)
52.2 %
Gini Index
0.4483*
Poverty Rate
15.8 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov