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Marion County, Alabama, with an annual GDP of approximately 1.22 billion dollars and a GDP per capita of 41,720 dollars, exhibits a modest economic profile compared to both state and national averages. The county's GDP growth rate of 0.8% over the last year is below Alabama's 1.7% and the national rate of 1.9%. Notably, Marion County has a significant goods-producing sector, contributing 44.1% to its GDP, which is higher than Alabama's 22.2% and the national average of 17.4%. This focus on goods production may provide resilience but also indicates a potential vulnerability to economic shifts. In comparison to other counties in Alabama, Marion's GDP per capita is lower than counties like Jefferson and Madison, highlighting a need for economic development strategies to enhance income levels and growth rates.
Marion County, AL exhibits a notably lower employment rate for individuals aged 20-64 at 63.6%, significantly trailing behind the state average of 68.7% and the national average of 73.8%. However, the county shows a strong employment rate of 86.4% for those with a Bachelor's degree, which is higher than both the state (82.6%) and national (84.3%) figures. The high employment rate among degree holders suggests a skilled workforce, yet the overall employment rate indicates challenges in job availability or economic conditions. Additionally, the employment rate for Black residents in Marion County is alarmingly low at 24.5%, compared to 52.5% statewide, highlighting significant disparities. Overall, Marion County's economic landscape reflects both potential in education and pressing issues in broader employment opportunities.
Marion County, AL, exhibits significant economic challenges compared to both state and national averages. With a mean household income of $49,743 and a median household income of $62,389, Marion County falls below Alabama's state averages of $59,609 and $82,992, respectively. The county's income per capita of $25,205 is notably lower than the state average of $33,344 and the national average of $41,261. Additionally, 21.2% of households earn less than $20,000, a stark contrast to Alabama's 16.6%. While the income inequality, as indicated by the Gini index of 0.4443, is relatively moderate, the economic landscape suggests a need for targeted development initiatives to improve income levels and reduce poverty in Marion County, especially when compared to more prosperous counties like Madison and Shelby.