Economy Profile

Sumter County

TSAC-CFD-01119

Snapshot

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GDP (2022, Thousands)
$ 382973
AVG Real Growth (2017-2022)
-1.18 %
Unemployment Rate (May, 2024)
6 %
Labor Force Size
4594
Number of Businesses
310
Average Annual Wage
$ 45923

Economy Structure

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

GDP

Sumter County, Alabama, presents a challenging economic landscape, with an annual GDP of approximately 383 million dollars and a GDP per capita of 31,402 dollars, significantly lower than the state average of 55,999 dollars and the national average of 77,754 dollars. The county's GDP growth rate has declined sharply by 4.2% over the last year, contrasting with Alabama's modest growth of 1.7% and the national rate of 1.9%. Sumter County's economy is heavily reliant on government contributions, which account for nearly 25% of its GDP, while goods-producing sectors contribute 27.3%. This reliance on government and the negative growth trend highlight economic vulnerabilities, especially when compared to more prosperous counties like Jefferson and Madison, which enjoy higher GDPs and growth rates.

GDP (2022, Thousands)
$ 382973
GDP Per Capita
$ 31402
GDP Growth Rate (2022)
-4.2 %
Average Growth Rate (2017-2022)
-1.18 %
Goods Producing Contribution (%)
27.3%
Service Providing Contribution (%)
47.7%
Goverment Contribution
24.9%
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
4594
Labor Force Growth
-0.88%
Unemployment
275
Unemployment Rate
6%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Sumter County, AL, exhibits a notably low employment rate of 56.1% for individuals aged 20-64, significantly trailing behind the Alabama state average of 68.7% and the national average of 73.8%. However, the county shows a high employment rate of 91.1% for those with a Bachelor's degree, surpassing both state (82.6%) and national (84.3%) figures, indicating a strong return on higher education. The employment rate for high school graduates is concerningly low at 44.3%, which is well below the state (63.3%) and national (67.9%) averages. Additionally, the employment rate for Black residents in Sumter County is only 39%, highlighting potential disparities in job access. Overall, while educational attainment correlates positively with employment in Sumter County, the overall employment landscape remains challenging compared to both state and national benchmarks.

Employment Rate (20-64 y.o.)
56.1%
Employment Rate (with Bachelor's Degree)
91.1%
Employment Rate (75+ y.o.)
3%
Employment Rate (Black)
39%
Employment Rate (Female)
57.4%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
310
Number of Employment
2946
Annual Average Wages
$ 45923
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 58712
Service-providing (avg pay)
$ 38547
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Sumter County, AL, exhibits significant economic challenges compared to both state and national averages. With a mean household income of $31,726 and a median household income of $49,122, it falls well below Alabama's state averages of $59,609 and $82,992, respectively. The county's income per capita of $19,720 is also notably lower than the state average of $33,344. Furthermore, a staggering 30.7% of households earn less than $20,000, which is the highest percentage among the counties listed, indicating a high level of economic distress. In contrast, counties like Madison and Shelby show much stronger economic indicators, highlighting the disparities within Alabama. The income inequality, as reflected by the Gini index of 0.4823, suggests that while some households may be doing well, a significant portion of the population is struggling, emphasizing the need for targeted economic development initiatives in Sumter County.

Household Income (Mean)
$ 31726
Household Income (Median)
$ 49122
Per Capita Income
$ 19720
Per Capita Income Growth (2010-2022)
36.4 %
Gini Index
0.4823*
Poverty Rate
30.4 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov