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Marengo County, Alabama, has an annual GDP of approximately 975 million dollars and a GDP per capita of about 50,827 dollars. The county experienced a decline in GDP growth of 3.1% over the last year, contrasting with a more stable growth rate of 2.06% over the past 13 years. Notably, Marengo County's economy is heavily reliant on goods-producing sectors, contributing 39.2% to its GDP, which is significantly higher than the state average of 22.2%. In comparison to other counties in Alabama, such as Jefferson County with a GDP of 57.9 billion dollars and a per capita GDP of 86,076 dollars, Marengo County's economic performance highlights its challenges, particularly in recent growth trends. Overall, while Marengo County shows resilience in its long-term growth, the recent downturn raises concerns about its economic stability relative to both state and national averages.
Marengo County, AL, exhibits a notably lower employment rate for individuals aged 20-64 at 62.6%, significantly trailing behind the state average of 68.7% and the national average of 73.8%. The county's employment rate for those with a Bachelor's degree is also below the state average (76% vs. 82.6%) and the national average (84.3%). Furthermore, the employment rate for high school graduates in Marengo County stands at 59.1%, which is lower than Alabama's average of 63.3%. The employment rates for Black individuals (44.3%) and females (61.1%) in Marengo County are also below state averages, indicating potential challenges in workforce participation and economic opportunities compared to other counties like Jefferson and Madison, which show stronger employment metrics. This suggests a need for targeted economic development strategies to enhance job opportunities in Marengo County.
Marengo County, AL, exhibits significant economic challenges compared to both state and national averages. With a mean household income of $42,975 and a median household income of $65,484, Marengo County falls well below Alabama's state averages of $59,609 and $82,992, respectively. The county's income per capita of $27,210 is also notably lower than the state average of $33,344. Furthermore, Marengo County has a high percentage of households earning less than $20,000 (28.6%), which is substantially higher than Alabama's 16.6%. The income inequality, indicated by a Gini index of 0.5163, suggests a growing disparity in wealth distribution, making it one of the more economically distressed counties in Alabama. This data highlights the need for targeted economic development initiatives to improve the financial well-being of its residents.