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Montgomery County, Alabama, has an annual GDP of approximately 16.8 billion dollars, with a GDP per capita of 73,453 dollars. The county's GDP growth rate over the last year was 1.5%, which is below the state average of 1.7% and significantly lower than the national average of 1.9%. Over the past 13 years, Montgomery's compound annual growth rate (CAGR) stands at a modest 0.62%, indicating sluggish economic growth compared to Alabama's 1.72% and the national rate of 2.2%. The county's economy is characterized by a substantial government contribution to GDP at 25.8%, higher than the state average of 15.5%, suggesting a reliance on public sector employment. In comparison to other counties in Alabama, Montgomery's GDP per capita is higher than counties like Baldwin and Tuscaloosa, but lower than Jefferson and Madison, highlighting a mixed economic performance within the state.
Montgomery County, AL exhibits an employment rate of 66.9% for individuals aged 20-64, which is notably lower than the state average of 68.7% and significantly below the national average of 73.8%. The county's employment rate for those with a Bachelor's degree stands at 77.6%, trailing behind Alabama's 82.6% and the national figure of 84.3%. Additionally, Montgomery County's employment rate for high school graduates is 64.5%, slightly above the state average of 63.3%. The county's employment rates for Black individuals (54.9%) and females (65.9%) also reflect disparities compared to state averages (52.5% and 64.3%, respectively). Overall, Montgomery County faces challenges in employment compared to both state and national benchmarks, indicating potential areas for economic development and workforce improvement.
Montgomery County, AL, exhibits a mean household income of $56,707 and a median household income of $79,962, which are notably lower than both the state averages ($59,609 mean, $82,992 median) and the national figures ($75,149 mean, $105,833 median). The county's income per capita stands at $32,769, reflecting economic challenges compared to the state and national averages. Additionally, Montgomery County has a higher percentage of households earning less than $20,000 (18.6%) compared to the state (16.6%) and a slightly lower percentage of households earning over $200,000 (8.7%) than the state average (8.7%). The income inequality, indicated by a Gini index of 0.4950, suggests a moderate level of income disparity, positioning Montgomery County as a region that may benefit from economic development initiatives to enhance income levels and reduce poverty.