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Talladega County, Alabama, has an annual GDP of approximately 3.65 billion dollars, with a GDP per capita of about 45,059 dollars. The county experienced a notable GDP growth rate of 4.3% in the last year, which is significantly higher than Alabama's overall growth rate of 1.7% and the national rate of 1.9%. However, its compound annual growth rate (CAGR) over the past 13 years stands at a modest 0.72%, indicating slower long-term growth. The county's economy is heavily reliant on goods production, contributing 43.6% to its GDP, which is higher than the state average of 22.2%. In comparison to other counties in Alabama, Talladega's GDP per capita is lower than counties like Jefferson and Madison, but its recent growth rate suggests a potential upward trend in economic activity.
Talladega County, AL, exhibits a notably low employment rate of 61.9% for individuals aged 20-64, significantly below the Alabama state average of 68.7% and the national average of 73.8%. While the county's employment rate for those with a Bachelor's degree (84%) aligns closely with state and national figures, the overall workforce participation remains a concern. The employment rate for high school graduates is also low at 60.6%, compared to Alabama's 63.3%. Additionally, the employment rate for Black residents in Talladega County (48.8%) is lower than both the state (52.5%) and national (57.2%) averages, indicating potential disparities in job access. Overall, these figures suggest that Talladega County faces significant challenges in improving employment opportunities compared to its peers in Alabama.
Talladega County, AL, exhibits a mean household income of $52,457 and a median household income of $70,872, both significantly lower than the state averages of $59,609 and $82,992, respectively. The county's income per capita stands at $29,236, which is also below the state average of $33,344. Notably, 21% of households earn less than $20,000, indicating a higher level of economic distress compared to the state average of 16.6%. In comparison to neighboring counties, Talladega's income levels are among the lowest, with only Calhoun County showing a lower mean income. This economic landscape suggests challenges in job opportunities and income growth, highlighting the need for targeted economic development initiatives to improve the financial well-being of residents.