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Chicot County, Arkansas, presents a concerning economic landscape, with an annual GDP of approximately 324.5 million dollars and a GDP per capita of 31,711 dollars, significantly lower than the state average of 54,988 dollars. The county's GDP growth rate has plummeted by 18.1% over the last year, contrasting sharply with Arkansas's overall growth rate of 1.3% and the national rate of 1.9%. The county's economic structure is heavily weighted towards service provision (61.1%), with goods-producing sectors contributing 19.8%. This reliance on services, coupled with a negative growth trend, highlights potential vulnerabilities. Compared to neighboring counties, Chicot's economic performance is notably weaker, indicating a need for targeted economic development strategies to reverse its declining trajectory.
Chicot County, AR, exhibits significant challenges in employment compared to both state and national averages. With an employment rate of just 52% for individuals aged 20-64, it falls well below Arkansas's average of 69.3% and the national rate of 73.8%. The county's employment rate for high school graduates is particularly low at 46.6%, compared to 63.4% statewide and 67.9% nationally. Additionally, the employment rate for Black residents in Chicot County is only 39.4%, significantly lower than the state average of 52.1% and the national average of 57.2%. This stark contrast highlights the economic struggles within Chicot County, suggesting a need for targeted interventions to improve job opportunities and educational outcomes, especially in comparison to more prosperous counties like Benton and Pulaski, which boast employment rates above 70%.
Chicot County, AR exhibits significant economic challenges compared to both state and national averages. With a mean household income of $36,593 and a median household income of $61,443, it falls well below Arkansas's state mean of $56,335 and median of $79,592. The county's income per capita of $24,156 is also notably lower than the state average of $31,868. Furthermore, Chicot County has a high income inequality, reflected in its Gini index of 0.5559, which is the highest among the counties listed and indicates a wider income disparity. The prevalence of households earning less than $20,000 at 29.5% starkly contrasts with the national figure of 12.1%, highlighting the economic struggles faced by many residents. Overall, Chicot County's economic indicators suggest a pressing need for targeted interventions to improve income levels and reduce inequality.