LotsCap

Economy Profile

Monroe County

  • Alabama State
  • October, 2024
TSAC-CFD-01099

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 777428
AVG Real Growth (2017-2022)
-3.52 %
Unemployment Rate (May, 2024)
4.9 %
Labor Force Size
6897
Number of Businesses
496
Average Annual Wage
$ 50868

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 777428
GDP Per Capita
$ 39232
GDP Growth Rate (2022)
-6.5 %
Average Growth Rate (2017-2022)
-3.52 %
Goods Producing Contribution (%)
31.5%
Service Providing Contribution (%)
54.4%
Goverment Contribution
14%
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
6897
Labor Force Growth
-1.34%
Unemployment
338
Unemployment Rate
4.9%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
50.2%
Employment Rate (with Bachelor's Degree)
66.6%
Employment Rate (75+ y.o.)
6.4%
Employment Rate (Black)
30.2%
Employment Rate (Female)
46.4%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
496
Number of Employment
6015
Annual Average Wages
$ 50868
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 76407
Service-providing (avg pay)
$ 40871
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 39965
Household Income (Median)
$ 57487
Per Capita Income
$ 23090
Per Capita Income Growth (2010-2022)
30.8 %
Gini Index
0.4773*
Poverty Rate
22.9 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov