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Craighead County, Arkansas, has an annual GDP of approximately 6.3 billion dollars, with a GDP per capita of about 56,801 dollars. Despite a recent decline in GDP growth of 1.4% over the last year, the county has experienced a compound annual growth rate (CAGR) of 3.1% over the past 13 years, indicating a generally positive long-term trend. The county's economy is characterized by a significant service sector, contributing 69% to its GDP, while goods-producing industries account for 20.2%. Compared to the state of Arkansas, which has a GDP per capita of 54,988 dollars and a lower growth rate of 1.3%, Craighead County demonstrates a stronger economic performance. However, it lags behind Pulaski and Benton Counties, which have higher GDPs and growth rates, highlighting the competitive economic landscape within the state.
Craighead County, AR exhibits a robust employment landscape, with a 73.1% employment rate for individuals aged 20-64, surpassing the state average of 69.3% and closely aligning with the national rate of 73.8%. Notably, the county boasts an impressive 87.5% employment rate among those with a bachelor's degree, which is higher than both the state (83.5%) and national averages (84.3%). The high school graduate employment rate stands at 67.1%, also above the state average of 63.4%. However, the employment rate for Black individuals at 58.2% is slightly above the state average of 52.1%, indicating a relatively better position in terms of racial employment equity. Overall, Craighead County's employment metrics reflect a competitive economic environment, particularly for educated workers, positioning it favorably compared to other counties in Arkansas.
Craighead County, AR exhibits a mean household income of $55,169 and a median household income of $80,561, which are below the state averages of $56,335 and $79,592, respectively. The county's income per capita stands at $31,298, slightly higher than the state average of $31,868 but significantly lower than the national average of $41,261. Notably, 9.4% of households earn over $200,000, which is comparable to the state figure of 8.6%, while 17% of households earn less than $20,000, exceeding the state average of 16.3%. The income inequality, as indicated by the Gini index of 0.4934, suggests a moderate level of income disparity, slightly higher than the state average of 0.4821. Overall, Craighead County reflects economic challenges relative to both state and national benchmarks, particularly in terms of income distribution and overall wealth.