LotsCap

Economy Profile

Fayette County

  • Pennsylvania State
  • October, 2024
TSAC-CFD-42051

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 4895508
AVG Real Growth (2017-2022)
-0.9 %
Unemployment Rate (May, 2024)
5.1 %
Labor Force Size
56469
Number of Businesses
2787
Average Annual Wage
$ 49477

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 4895508
GDP Per Capita
$ 38122
GDP Growth Rate (2022)
-0.4 %
Average Growth Rate (2017-2022)
-0.9 %
Goods Producing Contribution (%)
21.7%
Service Providing Contribution (%)
65.8%
Goverment Contribution
12.5%
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
56469
Labor Force Growth
1.89%
Unemployment
2887
Unemployment Rate
5.1%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
65.2%
Employment Rate (with Bachelor's Degree)
83.8%
Employment Rate (75+ y.o.)
5.9%
Employment Rate (Black)
34.9%
Employment Rate (Female)
63.9%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
2787
Number of Employment
37712
Annual Average Wages
$ 49477
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 66890
Service-providing (avg pay)
$ 43114
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 55579
Household Income (Median)
$ 73221
Per Capita Income
$ 31498
Per Capita Income Growth (2010-2022)
64 %
Gini Index
0.4541*
Poverty Rate
16.2 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov