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Hempstead County, Arkansas, has an annual GDP of approximately 1.27 billion dollars and a GDP per capita of about 63,190 dollars, reflecting a robust growth rate of 5.7% over the last year, significantly outpacing the state's growth rate of 1.3%. This growth is particularly notable given its compound annual growth rate (CAGR) of only 0.3% over the past 13 years, indicating a recent surge in economic activity. The county's economy is heavily reliant on goods-producing sectors, contributing 33.5% to its GDP, which is higher than the state average of 22%. In comparison to other counties in Arkansas, Hempstead's GDP per capita is competitive, though lower than Pulaski and Benton counties, which boast higher per capita figures and growth rates. Overall, Hempstead County's recent economic performance suggests a positive trend that could enhance its standing within the state.
Hempstead County, AR, exhibits a notably lower employment rate for individuals aged 20-64 at 63%, compared to the state average of 69.3% and the national average of 73.8%. The county's employment rate for high school graduates (59.1%) and those with a bachelor's degree (77.4%) also lags behind state figures (63.4% and 83.5%, respectively). Additionally, the employment rate for Black residents in Hempstead County (48.8%) is below the state average of 52.1%. The significantly higher employment rate for seniors (17.5%) suggests a unique demographic trend, possibly indicating a reliance on older workers. Overall, Hempstead County's employment metrics reflect challenges that may stem from economic conditions or educational attainment, positioning it among the lower-performing counties in Arkansas.
Hempstead County, AR, exhibits significant economic challenges compared to both state and national averages. With a mean household income of $45,049 and a median household income of $62,956, it falls below Arkansas's state averages of $56,335 and $79,592, respectively. The county's income per capita of $25,577 is also notably lower than the state average of $31,868. Furthermore, 22.1% of households earn less than $20,000, which is higher than the state average of 16.3%. In contrast, counties like Benton and Pulaski show much stronger economic indicators, highlighting a stark disparity within Arkansas. The income inequality, as indicated by a Gini index of 0.4728, suggests a moderate level of income disparity, but it remains lower than Pulaski County's 0.5170, indicating that while Hempstead County faces economic difficulties, it has a slightly more equitable income distribution than some of its peers.