LotsCap

Economy Profile

Sumter County

  • Alabama State
  • October, 2024
TSAC-CFD-01119

Table of Content

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

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

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

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