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Pickens County, Alabama, has an annual GDP of approximately 578 million dollars, with a GDP per capita of about 30,551 dollars. The county's GDP growth rate for the last year stands at 2.8%, which is a positive sign compared to its 13-year compound annual growth rate (CAGR) of -0.34%, indicating a recent recovery from a longer-term decline. Notably, the goods-producing sector contributes 32.1% to the GDP, which is significantly higher than the national average of 17.4% and the state average of 22.2%. In contrast, the service-providing sector's contribution of 48.7% is lower than Alabama's 62.3%. Compared to other counties in Alabama, Pickens County's GDP per capita is among the lowest, reflecting economic challenges relative to more prosperous counties like Jefferson and Madison, which have GDP per capita figures exceeding 80,000 dollars.
Pickens County, AL, exhibits a notably low employment rate of 57.4% for individuals aged 20-64, significantly below the Alabama state average of 68.7% and the national average of 73.8%. While the county's employment rate for those with a Bachelor's degree (80.6%) is relatively strong, it still lags behind the state (82.6%) and national (84.3%) figures. The high school graduate employment rate is particularly concerning at 51.3%, well below Alabama's 63.3%. Additionally, the employment rates for Black individuals (43.5%) and females (44.5%) are also lower than state averages (52.5% and 64.3%, respectively). This data suggests that Pickens County faces significant challenges in workforce participation, particularly among less-educated demographics, highlighting a need for targeted economic development initiatives.
Pickens County, AL exhibits significant economic challenges compared to both state and national averages. With a mean household income of $45,339 and a median household income of $66,279, it falls well below Alabama's state averages of $59,609 and $82,992, respectively. The county's income per capita of $26,912 is also notably lower than the state average of $33,344. Furthermore, 21.5% of households earn less than $20,000, which is higher than Alabama's 16.6% and indicates a greater prevalence of low-income households. In contrast, counties like Madison and Shelby show much higher income levels, highlighting the economic disparity within Alabama. The income inequality, as indicated by the Gini index of 0.4814, suggests a moderate level of income disparity, but it is slightly better than the national average of 0.4829. Overall, Pickens County's economic indicators reflect a need for targeted development strategies to improve income levels and reduce poverty.