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Randolph County, Alabama, has an annual GDP of approximately 652.6 million dollars, with a GDP per capita of 29,422 dollars, which is significantly lower than the state average of 55,999 dollars and the national average of 77,754 dollars. The county's GDP growth rate for the last year stands at 2.1%, slightly above Alabama's growth rate of 1.7% but below the national rate of 1.9%. Notably, Randolph County has a high goods-producing GDP contribution of 34.4%, indicating a strong manufacturing or agricultural base compared to the state average of 22.2%. However, its overall economic output remains modest, ranking it among the lower-performing counties in Alabama, highlighting the need for economic development initiatives to enhance growth and living standards.
Randolph County, AL, exhibits a notably lower employment rate for individuals aged 20-64 at 63.1%, 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 (75.7%) is also below the state (82.6%) and national (84.3%) figures, indicating potential challenges in higher education attainment or job opportunities for graduates. Additionally, the employment rate for high school graduates (65.8%) is slightly above the state average (63.3%) but still lags behind the national average (67.9%). The county's employment rates for Black individuals (48.5%) and females (54.7%) are also lower than state averages (52.5% and 64.3%, respectively), highlighting disparities that may require targeted economic development strategies to improve workforce participation and equity in employment opportunities.
Randolph County, AL, exhibits a mean household income of $49,879 and a median household income of $67,742, both significantly lower than the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $27,558, which is also below the state average of $33,344. Notably, 21.1% of households earn less than $20,000, indicating a higher prevalence of low-income households compared to the state average of 16.6%. In contrast, only 6.9% of households earn over $200,000, which is lower than the state average of 8.7%. This data suggests that Randolph County faces economic challenges relative to both state and national benchmarks, highlighting a need for targeted economic development initiatives to improve income levels and reduce poverty.