LotsCap

Economy Profile

Polk County

  • North Carolina State
  • October, 2024
TSAC-CFD-37149

Table of Content

Snapshot

-

GDP (2022, Thousands)
$ 634644
AVG Real Growth (2017-2022)
1.58 %
Unemployment Rate (May, 2024)
3.9 %
Labor Force Size
9539
Number of Businesses
688
Average Annual Wage
$ 43265

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 634644
GDP Per Capita
$ 32483
GDP Growth Rate (2022)
4.7 %
Average Growth Rate (2017-2022)
1.58 %
Goods Producing Contribution (%)
- %
Service Providing Contribution (%)
- %
Goverment Contribution
13%
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
9539
Labor Force Growth
0.95%
Unemployment
371
Unemployment Rate
3.9%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
72.7%
Employment Rate (with Bachelor's Degree)
77.9%
Employment Rate (75+ y.o.)
9.1%
Employment Rate (Black)
48.9%
Employment Rate (Female)
66.6%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
688
Number of Employment
5425
Annual Average Wages
$ 43265
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 47532
Service-providing (avg pay)
$ 40448
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 60465
Household Income (Median)
$ 81177
Per Capita Income
$ 35916
Per Capita Income Growth (2010-2022)
49.6 %
Gini Index
0.4624*
Poverty Rate
11.0 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov