-
Bristol Bay Borough, Alaska, exhibits a robust economic profile with an annual GDP of approximately 171.8 million dollars and a remarkable GDP per capita of 201,121 dollars, significantly higher than the state average of 89,408 dollars and the national average of 77,754 dollars. The borough's GDP growth rate of 5.6% over the last year outpaces Alaska's overall decline of 1.4% and reflects a positive trend with a compound annual growth rate (CAGR) of 3% over the past 13 years. Notably, the goods-producing sector contributes 44.4% to the local economy, indicating a strong reliance on industries such as fishing, which is vital in this region. In comparison to other Alaskan counties, Bristol Bay Borough stands out for its high per capita income and growth rate, positioning it as a unique economic entity within the state.
Bristol Bay Borough, AK, exhibits a mixed employment landscape compared to both state and national averages. With an employment rate of 66.3% for individuals aged 20-64, it falls below Alaska's average of 69.3% and significantly below the national average of 73.8%. The borough's employment rate for high school graduates is particularly low at 49.3%, indicating potential challenges in job accessibility for this demographic. However, the employment rate for those with a bachelor's degree at 71.7% is closer to the state average of 80%. Notably, Bristol Bay Borough has a high employment rate of 75.2% for females, surpassing both the state (68.9%) and national (70%) figures, suggesting a strong female workforce presence. Overall, while Bristol Bay faces challenges in overall employment, it shows strengths in female employment and higher education.
Bristol Bay Borough, AK, exhibits a robust economic profile with a mean household income of $94,167 and a median household income of $116,487, both significantly higher than the national averages of $75,149 and $105,833, respectively. The income per capita stands at $45,499, which is also above the national figure of $41,261. Notably, only 4.2% of households earn less than $20,000, indicating a relatively low level of poverty compared to the national average of 12.1%. The borough's income inequality, as measured by the Gini index (0.4087), is lower than both the state (0.4304) and national (0.4829) levels, suggesting a more equitable income distribution. Overall, Bristol Bay Borough's economic indicators reflect a strong and stable local economy, particularly when compared to other counties in Alaska, such as Bethel Census Area, which has a mean household income of $64,094.