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Mohave County, Arizona, has an annual GDP of approximately 7.7 billion dollars, with a GDP per capita of about 36,012 dollars. The county experienced a slight decline in GDP growth of -0.2% over the last year, although it has maintained a compound annual growth rate (CAGR) of 3.32% over the past 13 years. In comparison to the state of Arizona, which boasts a GDP of 475.7 billion dollars and a higher GDP per capita of 66,318 dollars, Mohave County lags behind in economic performance. Notably, while Arizona's GDP growth rate was 3.2% last year, Mohave's negative growth indicates potential economic challenges. Additionally, the county's government contribution to GDP stands at 10.6%, reflecting a reliance on public sector activities, which is lower than the state average of 11%. Overall, Mohave County's economic indicators suggest a need for strategic initiatives to stimulate growth and enhance its economic standing within Arizona.
Mohave County, AZ, exhibits a notably lower employment rate for individuals aged 20-64 at 61.7%, compared to the state average of 72.5% and the national average of 73.8%. The county's employment rate for those with a Bachelor's degree stands at 74.4%, which, while below the state (82.2%) and national (84.3%) figures, indicates a relatively better performance in higher education employment. However, the high school graduate employment rate is only 57.8%, significantly trailing behind both state (66.9%) and national (67.9%) averages. Additionally, the employment rate for seniors (75+) is the lowest among the counties analyzed at 4.3%. Overall, Mohave County's employment landscape reflects challenges, particularly in engaging its workforce compared to other Arizona counties like Maricopa and Pima, which show stronger employment metrics across all educational levels.
Mohave County, AZ, exhibits a mean household income of $53,592 and a median household income of $73,093, both significantly lower than the state averages of $72,581 and $98,569, respectively. The county's income per capita stands at $32,835, which is also below the state figure of $38,334. Notably, 15.2% of households earn less than $20,000, indicating a higher prevalence of low-income households compared to the state average of 11.2%. In terms of income inequality, Mohave County's Gini index of 0.4622 is slightly above the state average of 0.4610, suggesting a moderate level of income disparity. Compared to other counties in Arizona, Mohave County ranks among the lower-income regions, highlighting economic challenges that may require targeted policy interventions to improve overall economic conditions.