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Pike County, Alabama, has an annual GDP of approximately 1.89 billion dollars, with a GDP per capita of about 57,391 dollars. The county's GDP growth rate for the last year stands at 2.6%, slightly above Alabama's state growth rate of 1.7% and indicative of a stable economic environment. Over the past 13 years, Pike County has experienced a compound annual growth rate (CAGR) of 2.44%, which is competitive compared to the state's CAGR of 1.72%. While the county's economic contributions from goods-producing and service-providing sectors are not specified, the government sector contributes 15% to the GDP, aligning with the state's 15.5%. Compared to other counties in Alabama, Pike County's GDP per capita is lower than Jefferson and Madison counties, but higher than several others, reflecting a moderate economic standing within the state.
Pike County, AL exhibits a notably lower employment rate for individuals aged 20-64 at 63.4%, compared to the state average of 68.7% and the national average of 73.8%. The county's employment rate for those with a Bachelor's degree (78.6%) is also below the state (82.6%) and national (84.3%) figures, indicating potential challenges in attracting or retaining highly educated workers. Additionally, the employment rate for high school graduates stands at 60.5%, which is slightly above the state average of 63.3% but still lags behind the national average of 67.9%. The demographic employment rates reveal disparities, particularly among Black residents (48.7%), which is significantly lower than both state (52.5%) and national (57.2%) averages. Overall, Pike County faces economic challenges that may require targeted interventions to improve employment outcomes.
Pike County, AL exhibits significant economic challenges compared to both state and national averages. With a mean household income of $42,616 and a median household income of $67,849, it falls well below Alabama's state mean of $59,609 and median of $82,992. The county's income per capita of $26,685 is also notably lower than the state average of $33,344. Furthermore, Pike County has a high percentage of households earning less than $20,000 (24.7%), which is considerably higher than Alabama's 16.6%. The income inequality, indicated by a Gini index of 0.5191, suggests a more pronounced disparity in income distribution compared to the state (0.4797) and national levels (0.4829). This data highlights the economic struggles faced by Pike County, necessitating targeted interventions to improve income levels and reduce poverty.