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Crittenden County, Arkansas, has an annual GDP of approximately 2.13 billion dollars, with a GDP per capita of about 44,371 dollars. However, the county has experienced a significant economic contraction, with a GDP growth rate of -4% over the last year and a compound annual growth rate (CAGR) of -0.94% over the past 13 years. This decline contrasts sharply with the state of Arkansas, which has a GDP growth rate of 1.3% and a CAGR of 2.12%. Crittenden's economy is heavily service-oriented, with 71.5% of its GDP coming from service-providing sectors, similar to the national average of 71.2%. In comparison to other counties in Arkansas, Crittenden's economic performance is weaker, particularly when compared to Pulaski County, which boasts a GDP per capita of 91,000 dollars and a positive growth rate.
Crittenden County, AR, exhibits an employment rate of 69% for individuals aged 20-64, which is slightly below the Arkansas state average of 69.3% and significantly lower than the national average of 73.8%. The county's employment rate for those with a Bachelor's degree stands at 83.7%, closely aligning with the state rate of 83.5% but still trailing the national figure of 84.3%. Notably, the employment rate for high school graduates in Crittenden County is 61.8%, which is higher than the state average of 63.4% but lower than the national average of 67.9%. The county's employment rates for Black individuals (52.3%) and females (67.4%) also reflect disparities compared to national and state averages, indicating potential areas for economic development and workforce improvement. Overall, Crittenden County's employment metrics suggest a need for targeted initiatives to enhance job opportunities and educational attainment.
Crittenden County, AR, exhibits a mean household income of $51,860 and a median household income of $70,749, which are below the state averages of $56,335 and $79,592, respectively. The county's income per capita stands at $27,834, indicating economic challenges compared to the state and national levels, where the per capita income is $31,868 and $41,261, respectively. Notably, 20% of households earn less than $20,000, a significant concern when compared to the state average of 16.3%. The income inequality, as measured by the Gini index of 0.4769, suggests a moderate level of income disparity. Overall, Crittenden County's economic indicators reflect a need for targeted economic development strategies to improve income levels and reduce poverty rates, especially in comparison to more prosperous counties like Benton and Pulaski.