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Economy Profile

Shelby County

  • Alabama State
  • October, 2024
TSAC-CFD-01117

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 15537929
AVG Real Growth (2017-2022)
2.18 %
Unemployment Rate (May, 2024)
2.5 %
Labor Force Size
124857
Number of Businesses
6982
Average Annual Wage
$ 64798

Economy Structure

Population & Household section gives reader an outlook. of general population profile, structure, and outlook.

GDP

GDP (2022, Thousands)
$ 15537929
GDP Per Capita
$ 69392
GDP Growth Rate (2022)
0.9 %
Average Growth Rate (2017-2022)
2.18 %
Goods Producing Contribution (%)
12.7%
Service Providing Contribution (%)
81.4%
Goverment Contribution
5.9%
GDP Historical Growth Rate
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP by Sectors
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP Growth by Sectors
Source: Bureau of Economic Analysis | CAGDP11

Monthly Employment

Total Labor Force
124857
Labor Force Growth
1.47%
Unemployment
3066
Unemployment Rate
2.5%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
78.3%
Employment Rate (with Bachelor's Degree)
85.7%
Employment Rate (75+ y.o.)
5.9%
Employment Rate (Black)
69.2%
Employment Rate (Female)
72.3%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
6982
Number of Employment
85595
Annual Average Wages
$ 64798
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 74405
Service-providing (avg pay)
$ 64646
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 90618
Household Income (Median)
$ 118066
Per Capita Income
$ 45701
Per Capita Income Growth (2010-2022)
34.5 %
Gini Index
0.4441*
Poverty Rate
6.9 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov