Economy Profile
Marengo County
- Alabama State
- October, 2024
TSAC-CFD-01091
Snapshot
-
GDP (2022, Thousands)
$ 974,867
AVG Real Growth (2017-2022)
2.06 %
Unemployment Rate (May, 2024)
4 %
Labor Force Size
7,615
Number of Businesses
555
Average Annual Wage
$ 51,553
Economy Structure
Population & Household section gives reader an outlook. of general population profile, structure, and outlook.
GDP
GDP (2022, Thousands)
$ 974,867
GDP Per Capita
$ 50,827
GDP Growth Rate (2022)
-3.1 %
Average Growth Rate (2017-2022)
2.06 %
Goods Producing Contribution (%)
39.2%
Service Providing Contribution (%)
47.2%
Goverment Contribution
13.6%
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
7,615
Labor Force Growth
0.03%
Unemployment
302
Unemployment Rate
4%
Unemployment Rate
Source: Census.gov | S2301
Employment Profile
Employment Rate (20-64 y.o.)
62.6%
Employment Rate (with Bachelor's Degree)
76%
Employment Rate (75+ y.o.)
3%
Employment Rate (Black)
44.3%
Employment Rate (Female)
61.1%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301
Employment by Sectors
Number of Companies
555
Number of Employment
7,256
Annual Average Wages
$ 51,553
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 68,423
Service-providing (avg pay)
$ 44,122
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS
Income
Household Income (Mean)
$ 42,975
Household Income (Median)
$ 65,484
Per Capita Income
$ 27,210
Per Capita Income Growth (2010-2022)
48.5 %
Gini Index
0.5163*
Poverty Rate
21.5 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov