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Shelby County, Alabama, has an annual GDP of approximately 15.5 billion dollars, with a GDP per capita of about 69,392 dollars. The county's GDP growth rate over the past year was a modest 0.9%, which is below the state average of 1.7% and significantly lower than the national rate of 1.9%. Over the past 13 years, Shelby County has experienced a compound annual growth rate (CAGR) of 2.18%, indicating steady growth, albeit slower than some neighboring counties like Madison County, which boasts a CAGR of 3.94%. The county's economy is heavily service-oriented, with 81.4% of its GDP coming from service-providing sectors, contrasting with the national average of 71.2%. This reliance on services, coupled with a lower government contribution to GDP (5.9%), suggests a potential area for economic diversification.
Shelby County, AL, exhibits a robust employment landscape, with an employment rate of 78.3% for individuals aged 20-64, significantly surpassing the state average of 68.7% and approaching the national average of 73.8%. The county also boasts a high employment rate of 85.7% for those with a Bachelor's degree, which is slightly below the national figure of 84.3% but above Alabama's 82.6%. Notably, Shelby County's employment rate for Black residents stands at 69.2%, well above the state average of 52.5%, indicating a more inclusive job market. Comparatively, Shelby County outperforms nearby Jefferson County (71.8%) and Mobile County (67.1%), positioning itself as a strong economic hub within Alabama. This data suggests a thriving local economy, likely driven by diverse employment opportunities and educational attainment.
Shelby County, AL, stands out in Alabama with a Mean Household Income of $90,618 and a Median Household Income of $118,066, significantly higher than the state averages of $59,609 and $82,992, respectively. This positions Shelby County as one of the wealthiest counties in Alabama, with a notable 11.8% of households earning over $200,000, compared to the state average of 8.7%. The county's Income Per Capita of $45,701 also exceeds both state ($33,344) and national ($41,261) figures, indicating a robust economic environment. Additionally, Shelby County's Gini index of 0.4441 suggests a more equitable income distribution compared to other counties like Jefferson (0.5049) and Lee (0.5130), highlighting its relative economic stability and attractiveness for residents and businesses alike.