LotsCap

Economy Profile

Independence County

  • Arkansas State
  • October, 2024
TSAC-CFD-05063

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 2276113
AVG Real Growth (2017-2022)
0.66 %
Unemployment Rate (May, 2024)
3.7 %
Labor Force Size
16922
Number of Businesses
947
Average Annual Wage
$ 49264

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 2276113
GDP Per Capita
$ 60040
GDP Growth Rate (2022)
3.1 %
Average Growth Rate (2017-2022)
0.66 %
Goods Producing Contribution (%)
32.8%
Service Providing Contribution (%)
60%
Goverment Contribution
7.2%
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
16922
Labor Force Growth
-0.44%
Unemployment
625
Unemployment Rate
3.7%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
66.6%
Employment Rate (with Bachelor's Degree)
85.8%
Employment Rate (75+ y.o.)
6.1%
Employment Rate (Black)
70.8%
Employment Rate (Female)
63.1%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
947
Number of Employment
17381
Annual Average Wages
$ 49264
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 60102
Service-providing (avg pay)
$ 46148
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 52361
Household Income (Median)
$ 71260
Per Capita Income
$ 27867
Per Capita Income Growth (2010-2022)
40 %
Gini Index
0.4762*
Poverty Rate
19.3 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov