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Russell County, Alabama, has an annual GDP of approximately 1.94 billion dollars, with a GDP per capita of about 32,973 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 over the last year was modest at 0.6%, and its compound annual growth rate (CAGR) over the past 13 years stands at 1.58%. Notably, Russell County has a high goods-producing GDP contribution of 34.9%, compared to the state’s 22.2%, indicating a stronger emphasis on manufacturing and production. In contrast, the service sector contributes 51.9% to the county's GDP, which is lower than Alabama's overall service contribution of 62.3%. This suggests that while Russell County has a robust goods-producing sector, it still faces challenges in economic growth relative to both state and national benchmarks.
Russell County, AL, exhibits a notably lower employment rate for individuals aged 20-64 at 60.4%, significantly trailing behind the state average of 68.7% and the national average of 73.8%. The employment rate for those with a Bachelor's degree is also below both state (82.6%) and national (84.3%) figures, standing at 73.3%. Additionally, the county's employment rate for high school graduates (64.5%) is slightly above the state average (63.3%) but still lags behind the national average (67.9%). The employment rate for Black individuals in Russell County (51.9%) is comparable to the state average (52.5%), but lower than the national average (57.2%). Overall, these figures suggest that Russell County faces significant challenges in employment compared to both state and national benchmarks, indicating potential areas for economic development and workforce improvement.
Russell County, AL, exhibits significant economic challenges compared to both state and national averages. With a mean household income of $47,420 and a median household income of $62,441, Russell County falls below Alabama's state averages of $59,609 and $82,992, respectively. The county's income per capita of $25,855 is notably lower than the state average of $33,344, indicating a lower standard of living. Additionally, 23% of households earn less than $20,000, which is considerably higher than Alabama's 16.6%. In contrast, counties like Madison and Shelby show much stronger economic indicators, highlighting Russell County's need for economic development initiatives to improve income levels and reduce poverty rates.