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Ashley County, Arkansas, with an annual GDP of approximately 927 million dollars and a GDP per capita of 48,743 dollars, exhibits a slower economic growth rate of 0.6% over the past year, contrasting with the state's growth rate of 1.3%. Over the past 13 years, Ashley County has experienced a compound annual growth rate (CAGR) of -1.58%, indicating a decline, while Arkansas as a whole has seen a positive CAGR of 2.12%. Notably, Ashley County's economy is heavily reliant on goods production, contributing 50.2% to its GDP, significantly higher than the state average of 22%. This reliance on goods production may explain its slower growth compared to more service-oriented counties like Benton and Pulaski, which have higher GDP per capita and growth rates. Overall, Ashley County's economic performance highlights challenges in sustaining growth relative to both state and national trends.
Ashley County, AR exhibits a notably low employment rate of 59.8% for individuals aged 20-64, significantly below the Arkansas state average of 69.3% and the national average of 73.8%. Despite a relatively high employment rate of 87.1% for those with a Bachelor's degree, the overall workforce participation remains a concern, particularly among high school graduates, where the rate is just 57.8%. Comparatively, counties like Benton and Pulaski show much stronger employment figures, with rates of 79% and 72.3%, respectively. Additionally, Ashley County's employment rate for Black residents (40.9%) is lower than the state average of 52.1%, indicating potential disparities in job access. The low employment rate, especially among younger and less-educated populations, suggests economic challenges that may require targeted interventions to improve workforce engagement and opportunities.
Ashley County, AR exhibits significant economic challenges compared to both state and national averages. With a mean household income of $44,804 and a median household income of $64,449, it falls below Arkansas's state averages of $56,335 and $79,592, respectively. The county's income per capita of $25,568 is also notably lower than the state average of $31,868. Furthermore, Ashley County has a high percentage of households earning less than $20,000 (26.3%), which is considerably higher than the state average of 16.3%. The income inequality, indicated by a Gini index of 0.5126, suggests a growing disparity in income distribution. In comparison to other counties in Arkansas, Ashley County ranks among the lowest, highlighting the need for targeted economic development initiatives to improve living standards and reduce poverty.