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Cross County, Arkansas, presents a challenging economic landscape, with an annual GDP of approximately 526 million dollars and a GDP per capita of 31,250 dollars, significantly lower than the state average of 54,988 dollars and the national average of 77,754 dollars. The county's GDP growth rate has declined sharply by 7.3% over the last year, contrasting with the state's modest growth of 1.3% and the national rate of 1.9%. While Cross County's goods-producing sector contributes 18.5% to its GDP, this is below the state average of 22%. The service sector, accounting for 65.5% of GDP, aligns closely with state trends but highlights a reliance on services amidst economic contraction. Compared to neighboring counties, Cross County's economic performance is notably weaker, indicating potential areas for development and investment to reverse the negative growth trend.
Cross County, AR exhibits a mixed employment landscape compared to both state and national averages. With an employment rate of 70.5% for individuals aged 20-64, it falls slightly below Arkansas's average of 69.3% but is above the national average of 73.8%. Notably, Cross County boasts a high employment rate of 89% for those with a Bachelor's degree, surpassing both the state (83.5%) and national (84.3%) figures. The county's high school graduate employment rate of 70.1% is also commendable, exceeding the state average of 63.4%. However, the employment rate for Black individuals at 55.4% is lower than both the state (52.1%) and national (57.2%) averages, indicating potential areas for improvement in workforce inclusivity. Overall, while Cross County shows strengths in educational attainment and employment, it still faces challenges in broader employment participation.
Cross County, AR exhibits a Mean Household Income of $48,129 and a Median Household Income of $68,838, both significantly lower than the state averages of $56,335 and $79,592, respectively. The Income Per Capita stands at $27,776, which is also below the state average of $31,868. Notably, 21.2% of households earn less than $20,000, indicating a higher level of economic distress compared to the state’s 16.3%. While Cross County's income inequality, as measured by the Gini index (0.4748), is slightly better than the national average (0.4829) and comparable to the state (0.4821), the economic landscape remains challenging. In comparison to neighboring counties, Cross County's income levels are among the lowest, highlighting a need for economic development initiatives to improve local living standards.