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Cochise County, Arizona, has an annual GDP of approximately 5.7 billion dollars and a GDP per capita of about 45,398 dollars. The county's GDP growth rate for the last year is negative at -0.5%, with a compound annual growth rate (CAGR) of 1.2% over the past 13 years, indicating sluggish economic performance compared to the state’s growth rate of 3.2% and the national rate of 1.9%. Notably, government contributions to the GDP are significant at 35.1%, suggesting a reliance on public sector employment. In comparison, Maricopa County, the largest in Arizona, boasts a GDP of 350.2 billion dollars and a much higher GDP per capita of 79,029 dollars, highlighting the economic disparity within the state. Overall, Cochise County's economic indicators reflect challenges that may require strategic interventions to stimulate growth.
Cochise County, AZ, exhibits a notably low employment rate of 58.5% for individuals aged 20-64, significantly trailing both the state average of 72.5% and the national average of 73.8%. The county's employment rates for those with a Bachelor's degree (70%) and high school graduates (52.1%) also fall below state levels (82.2% and 66.9%, respectively). Comparatively, Cochise County ranks among the lowest in Arizona, with only Navajo County (54.2%) and Apache County (46.9%) showing worse employment figures. The county's challenges may stem from a combination of economic factors, including limited job opportunities and educational attainment, which could hinder workforce participation, particularly among younger and minority populations. Addressing these issues could be crucial for improving Cochise County's economic landscape.
Cochise County, AZ, exhibits a mean household income of $58,421 and a median household income of $75,274, both of which are significantly lower than the state averages of $72,581 and $98,569, respectively. The county's income per capita stands at $31,423, which is also below the state figure of $38,334. Notably, 15.8% of households earn less than $20,000, indicating a higher level of economic distress compared to the state average of 11.2%. In comparison to other counties in Arizona, Cochise County's income levels are among the lowest, surpassing only a few like Navajo and Apache counties. The income inequality, as indicated by a Gini index of 0.4384, suggests a relatively balanced income distribution compared to the national average of 0.4829, but still highlights the economic challenges faced by many residents.