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Faulkner County, Arkansas, has an annual GDP of approximately 4.86 billion dollars, with a GDP per capita of 39,015 dollars. The county's GDP growth rate over the last year stands at 2.6%, slightly above the state average of 1.3% but below the national rate of 1.9%. Over the past 13 years, Faulkner's compound annual growth rate (CAGR) is 1.9%, indicating steady growth. The county's economy is primarily service-oriented, with 70.3% of its GDP coming from service-providing sectors, which is consistent with state trends but lower than the national average of 71.2%. Compared to neighboring counties, Faulkner's GDP per capita is lower than Pulaski County's 91,000 dollars and Benton County's 74,948 dollars, highlighting a potential area for economic development and improvement in income levels.
Faulkner County, AR exhibits a robust employment landscape, with a 72.6% employment rate for individuals aged 20-64, slightly above the Arkansas state average of 69.3% but below the national average of 73.8%. Notably, the county boasts an impressive 85.7% employment rate for those with a Bachelor's degree, surpassing both the state (83.5%) and national (84.3%) figures. The employment rate for high school graduates stands at 65.8%, which is higher than the state average of 63.4%. Additionally, Faulkner County's employment rate for Black individuals at 67.4% is significantly better than the state average of 52.1%. Overall, Faulkner County demonstrates strong educational employment outcomes, positioning itself favorably compared to other counties in Arkansas, particularly in higher education employment rates.
Faulkner County, AR, exhibits a mean household income of $61,273 and a median household income of $80,941, positioning it above the state averages of $56,335 and $79,592, respectively. The county's income per capita stands at $31,301, slightly higher than the state average of $31,868, indicating a relatively stable economic environment. Notably, 10.2% of households earn over $200,000, surpassing the state average of 8.6%, while 15.5% fall below $20,000, which is lower than Arkansas's 16.3%. Compared to neighboring counties, Faulkner County's income levels are competitive, particularly against Pulaski and Sebastian counties, suggesting a growing economic landscape that may attract further investment and development. Overall, Faulkner County reflects a promising economic profile within Arkansas.