LotsCap

Economy Profile

Garland County

  • Arkansas State
  • October, 2024
TSAC-CFD-05051

Table of Content

Snapshot

-

GDP (2022, Thousands)
$ 4199837
AVG Real Growth (2017-2022)
1.2 %
Unemployment Rate (May, 2024)
4.2 %
Labor Force Size
42940
Number of Businesses
3234
Average Annual Wage
$ 44717

Economy Structure

Population & Household section gives reader an outlook. of general population profile, structure, and outlook.

GDP

GDP (2022, Thousands)
$ 4199837
GDP Per Capita
$ 41990
GDP Growth Rate (2022)
0.3 %
Average Growth Rate (2017-2022)
1.2 %
Goods Producing Contribution (%)
13.9%
Service Providing Contribution (%)
76.4%
Goverment Contribution
9.7%
GDP Historical Growth Rate
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP by Sectors
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP Growth by Sectors
Source: Bureau of Economic Analysis | CAGDP11

Monthly Employment

Total Labor Force
42940
Labor Force Growth
0.61%
Unemployment
1783
Unemployment Rate
4.2%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
68.5%
Employment Rate (with Bachelor's Degree)
74%
Employment Rate (75+ y.o.)
8.5%
Employment Rate (Black)
49.5%
Employment Rate (Female)
66.5%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
3234
Number of Employment
37985
Annual Average Wages
$ 44717
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 51583
Service-providing (avg pay)
$ 42323
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 54229
Household Income (Median)
$ 73126
Per Capita Income
$ 31854
Per Capita Income Growth (2010-2022)
39.8 %
Gini Index
0.4606*
Poverty Rate
16.9 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov