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Tuscaloosa County, Alabama, has an annual GDP of approximately 12.7 billion dollars, with a GDP per capita of about 54,816 dollars. However, the county experienced a negative GDP growth rate of -1.8% in the last year, contrasting with Alabama's overall growth rate of 1.7% and the national rate of 1.9%. The county's economic structure is heavily weighted towards goods-producing sectors, contributing 33.4% to its GDP, which is significantly higher than the national average of 17.4%. In comparison to other counties in Alabama, Tuscaloosa's GDP per capita is lower than that of Jefferson and Madison counties, indicating potential challenges in economic development and income generation. The stagnation in growth over the past 13 years (0.04% CAGR) suggests a need for strategic initiatives to revitalize the local economy.
Tuscaloosa County, AL exhibits a robust employment landscape, with a 71.9% employment rate for individuals aged 20-64, surpassing the state average of 68.7% but falling short of the national average of 73.8%. Notably, the county boasts an impressive 86.5% employment rate for those with a bachelor's degree, which is higher than both the state (82.6%) and national (84.3%) figures. The employment rate for high school graduates in Tuscaloosa County stands at 66.5%, also above Alabama's average of 63.3%. However, the county's employment rate for Black individuals (59.5%) is better than the state average (52.5%) but still reflects ongoing disparities. Overall, Tuscaloosa County demonstrates a strong educational impact on employment, positioning itself favorably within Alabama's economic landscape.
Tuscaloosa County, AL, exhibits a mean household income of $61,645 and a median household income of $82,543, positioning it slightly above the state averages of $59,609 and $82,992, respectively. However, it lags behind the national figures of $75,149 and $105,833. The county's income per capita stands at $32,141, which is also lower than both state and national averages, indicating a potential disparity in income distribution. The Gini index of 0.4713 suggests a moderate level of income inequality, comparable to the state’s 0.4797. Notably, 8.9% of households earn over $200K, which is higher than the state average of 8.7%, while 17.5% earn less than $20K, slightly better than Alabama's 16.6%. Overall, Tuscaloosa County reflects a mixed economic landscape, with strengths in higher-income households but challenges in overall income levels compared to national standards.