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Yavapai County, Arizona, with an annual GDP of approximately 9.8 billion dollars and a GDP per capita of about 41,194 dollars, shows modest economic performance compared to both state and national averages. The county's GDP growth rate over the last year is a mere 0.1%, significantly lagging behind Arizona's 3.2% and the national rate of 1.9%. Over the past 13 years, Yavapai's compound annual growth rate (CAGR) of 2.32% is also below the state’s 3.92%. The county's economy is primarily service-oriented, with 68.5% of its GDP coming from service-providing sectors, which is slightly lower than the state average of 72.9%. In comparison to neighboring counties, Yavapai's economic indicators suggest a need for revitalization, especially when contrasted with Maricopa County's robust growth and higher GDP per capita.
Yavapai County, AZ, exhibits an employment rate of 68.3% for individuals aged 20-64, which is below the state average of 72.5% and significantly lower than the national average of 73.8%. The county's employment rate for those with a Bachelor's degree stands at 72.9%, also trailing behind Arizona's 82.2% and the national figure of 84.3%. Notably, Yavapai's employment rate for high school graduates is on par with the state at 66.9%. The county's employment rate for Black residents is notably low at 44%, indicating potential disparities in employment opportunities. Compared to neighboring counties, Yavapai's employment figures are higher than Pinal County (64.4%) but lower than Maricopa County (76.1%), suggesting a need for targeted economic initiatives to enhance job opportunities and educational attainment in the region.
Yavapai County, AZ, exhibits a mean household income of $62,430 and a median household income of $83,305, which are notably lower than both the state averages of $72,581 and $98,569, respectively. The county's income per capita stands at $37,666, also trailing behind the state figure of $38,334. While 9.4% of households earn over $200,000, this is slightly below the state average of 10.3%. Additionally, 12.7% of households earn less than $20,000, indicating a higher level of economic vulnerability compared to the state average of 11.2%. Overall, Yavapai County's economic indicators suggest a need for growth and development strategies to enhance income levels and reduce income inequality, as reflected in its Gini index of 0.4482, which is more equitable than the national average of 0.4829.