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Hot Spring County, Arkansas, has demonstrated a robust economic performance with an annual GDP of approximately 1.49 billion dollars and a notable GDP growth rate of 11.2% over the last year, significantly outpacing the state’s growth rate of 1.3%. The county's GDP per capita stands at 45,003 dollars, which is below the state average of 54,988 dollars but reflects a strong contribution from the goods-producing sector at 26.4%, higher than the state’s 22%. In comparison to other counties in Arkansas, Hot Spring County's growth rate is among the highest, indicating a dynamic local economy. This growth may be driven by increased investments or expansions in local industries, positioning Hot Spring County as a potentially attractive area for future economic development within the state.
Hot Spring County, AR, exhibits a notably low employment rate of 59% for individuals aged 20-64, significantly below the Arkansas state average of 69.3% and the national average of 73.8%. The county's employment rate for high school graduates is particularly concerning at just 49.4%, compared to the state’s 63.4%. Additionally, the employment rate for those with a bachelor's degree stands at 74.9%, which, while lower than the state average of 83.5%, is still above the national average of 84.3%. The county also shows a stark disparity in employment among Black residents at 36.4%, well below the state average of 52.1%. Overall, these figures suggest that Hot Spring County faces significant challenges in workforce participation and educational attainment compared to both state and national benchmarks.
Hot Spring County, AR, exhibits a mean household income of $50,260 and a median household income of $65,891, both significantly lower than the state averages of $56,335 and $79,592, respectively. The county's income per capita stands at $25,486, which is also below the state average of $31,868. Notably, 18% of households earn less than $20,000, indicating a higher level of economic distress compared to the state’s 16.3%. The income inequality, as measured by the Gini index (0.4379), is relatively lower than both the state (0.4821) and national (0.4829) levels, suggesting a more equitable income distribution. Overall, Hot Spring County faces economic challenges, particularly in income levels, compared to both state and national benchmarks, highlighting the need for targeted economic development initiatives.