Alabama Economy
Alabama Guide
Alabama Economy
Alabama Economy Information
Alabama is an economically stable state and indulges in agriculture, manufacturing, mining, fishing along with other services to maintain its economic standing. Most of the agricultural revenue is generated by livestock products and a part of it is contributed by production, distribution and selling of crops.
Alabama Agriculture
Alabama has contributed significantly to the broiler requirements in the United States of America. It has been ranked third, after Georgia and Arkansas, in producing chicken for consumption for the country. The last official record states that Alabama met 12% of the nation’s chicken requirements.
Cattle and calves hold a major stake in livestock production and account for 11% of the total contribution in the agricultural economy. Cattle rearing is a popular occupation but is concentrated in the center of the state. Aquaculture and dairy farming are also profitable occupations that the people of Alabama engage in.
Crop production in Alabama accounts for only 4% of the total national produce but it is an important part of the economy of the state. Obstacles in farming in the early 1900’s forced the people to think of alternate means of raising finance. However, growing cotton remained an important aspect of agriculture in Alabama.
Amongst fruits, Alabama is known to produce superior quality peaches, apples, nectarines, grapes, strawberries and blueberries. Within the vegetables, the state produces potatoes, sweet potatoes, sweet corn and tomatoes.
Alabama Manufacturing
Alabama has a host of products that are taken as raw materials and are manufactured to add value to them. Besides that, the state also produces many products, from scratch, and contributes to the economy on the whole.
Value added manufacturing products include chemicals, paper, iron and steel. Chemicals make up an essential part of the state’s manufacturing regime and one can see a regular production of chemical fibers, industrial chemicals, fertilizers and insecticides. Besides that, the state produces finished good for the publishing and paper industry like cardboards, tissues and paper bags.
Alabama is also known to produce automobiles, trucks, aircraft engines and military equipments. Amongst others, the state produces clothing, computer and electronic equipment (communications), fabricated metal products (hardware, containers, architectural metals), machinery (heating and air conditioning equipment, metal working machinery), rubber (tires) and plastic products, textiles (fabrics, threads and yarns), and wood products (lumber, plywood, veneers).
Alabama Mining
Amongst the most important products that are mined in Alabama, natural gas, petroleum, coal, limestone and crushed stone rank the highest. Other products include clay, salt, sand, gravel, bauxite and marble. The state has abundant supply of these products all through its huge expanse but they are specifically found in the following areas:
- Coal: North Central part of the state.
- Natural gas & petroleum: Southwest part of the state.
- Limestone: Birmingham and Huntsville.
Alabama Fishing
Alabama is home to a thriving fishing business. One can find a wide variety of fish in the state that includes but is not limited to buffalo fish, catfish, mussels etc. These are caught around the Gulf of Mexico and support the well flourished fishing industry.
Alabama Services
Services have recently started contributing significantly to the economy of the state of Alabama. Generally, a trend is noticed where service providing industries are based in urban areas. This is also the case with Alabama. Along with agriculture and other economically viable occupations, being employed in the service industry is contributing extravagantly to the economy of the state.
The most popular service providing industries in the state include business, personal health, law firms, software developers, engineering companies, whole sellers of grocery, machinery, mined products and retailers of auto dealerships, food stores etc.
The governmental agencies also help in contributing to the economy and public schools, hospitals, and military come in third for playing a significant part in the economy. Besides the industries mentioned above, Alabama has a strong back up of other industries that include the finance sector, insurance and real estate industries. Transportation, communication and other basic utilities fit in as the last few spokes that complete the wheel of economy.
Alabama Economy Statistics
| Employment Status | ||
|---|---|---|
| Population 16 years and over | 3,450,542 | 100.0 |
| In labor force | 2,061,169 | 59.7 |
| Civilian labor force | 2,047,100 | 59.3 |
| Employed | 1,920,189 | 55.6 |
| Unemployed | 126,911 | 3.7 |
| Percent of civilian labor force | 6.2 | (X) |
| Armed Forces | 14,069 | 0.4 |
| Not in labor force | 1,389,373 | 40.3 |
| Females 16 years and over | 1,816,176 | 100.0 |
| In labor force | 959,488 | 52.8 |
| Civilian labor force | 957,380 | 52.7 |
| Employed | 890,702 | 49.0 |
| Own children under 6 years | 336,150 | 100.0 |
| All parents in family in labor force | 196,160 | 58.4 |
| Commuting To Work | ||
| Workers 16 years and over | 1,900,089 | 100.0 |
| Car, truck, or van -- drove alone | 1,576,882 | 83.0 |
| Car, truck, or van -- carpooled | 234,020 | 12.3 |
| Public transportation | 9,496 | 0.5 |
| Walked | 25,360 | 1.3 |
| Other means | 15,028 | 0.8 |
| Worked at home | 39,303 | 2.1 |
| Mean travel time to work (minutes) | 24.8 | (X) |
| Employed civilian population 16 years and over | 1,920,189 | 100.0 |
| Occupation | ||
| Management, professional, and related occupations | 566,325 | 29.5 |
| Service occupations | 259,106 | 13.5 |
| Sales and office occupations | 497,262 | 25.9 |
| Farming, fishing, and forestry occupations | 14,855 | 0.8 |
| Construction, extraction, and maintenance occupations | 217,200 | 11.3 |
| Production, transportation, and material moving occupations | 365,441 | 19.0 |
| Industry | ||
| Agriculture, forestry, fishing and hunting | 37,310 | 1.9 |
| Construction | 145,809 | 7.6 |
| Manufacturing | 352,566 | 18.4 |
| Wholesale trade | 70,055 | 3.6 |
| Retail trade | 233,742 | 12.2 |
| Transportation and warehousing | 101,588 | 5.3 |
| Information | 42,754 | 2.2 |
| Finance, insurance, real estate, rental and leasing | 110,743 | 5.8 |
| Professional, management, administrative | 136,580 | 7.1 |
| Educational, health and social services | 370,274 | 19.3 |
| entertainment, accommodation and food services | 122,333 | 6.4 |
| Other services | 97,520 | 5.1 |
| Public administration | 98,915 | 5.2 |
| Class of Worker | ||
| Private wage and salary workers | 1,496,538 | 77.9 |
| Government workers | 298,434 | 15.5 |
| Self-employed workers in own not incorporated business | 119,345 | 6.2 |
| Unpaid family workers | 5,872 | 0.3 |
| Income in 1999 | ||
| Households | 1,737,385 | 100.0 |
| Less than $10,000 | 250,526 | 14.4 |
| $10,000 to $14,999 | 140,880 | 8.1 |
| $15,000 to $24,999 | 257,393 | 14.8 |
| $25,000 to $34,999 | 236,732 | 13.6 |
| $35,000 to $49,999 | 286,612 | 16.5 |
| $50,000 to $74,999 | 298,347 | 17.2 |
| $75,000 to $99,999 | 134,135 | 7.7 |
| $100,000 to $149,999 | 85,987 | 4.9 |
| $150,000 to $199,999 | 22,171 | 1.3 |
| $200,000 or more | 24,602 | 1.4 |
| Median household income (dollars) | 34,135 | (X) |
| With earnings | 1,337,097 | 77.0 |
| Mean earnings (dollars) | 46,719 | (X) |
| With Social Security income | 486,287 | 28.0 |
| Mean Social Security income (dollars) | 10,374 | (X) |
| With Supplemental Security Income | 104,173 | 6.0 |
| Mean Supplemental Security Income (dollars) | 5,686 | (X) |
| With public assistance income | 38,964 | 2.2 |
| Mean public assistance income (dollars) | 2,108 | (X) |
| With retirement income | 311,581 | 17.9 |
| Mean retirement income (dollars) | 17,110 | (X) |
| Families | 1,223,185 | 100.0 |
| Less than $10,000 | 103,257 | 8.4 |
| $10,000 to $14,999 | 72,749 | 5.9 |
| $15,000 to $24,999 | 160,921 | 13.2 |
| $25,000 to $34,999 | 166,800 | 13.6 |
| $35,000 to $49,999 | 223,079 | 18.2 |
| $50,000 to $74,999 | 256,566 | 21.0 |
| $75,000 to $99,999 | 120,781 | 9.9 |
| $100,000 to $149,999 | 78,002 | 6.4 |
| $150,000 to $199,999 | 19,965 | 1.6 |
| $200,000 or more | 21,065 | 1.7 |
| Median family income (dollars) | 41,657 | (X) |
| Per capita income (dollars) | 18,189 | (X) |
|
Median earnings (dollars): |
||
| Male full-time, year-round workers | 32,383 | (X) |
| Female full-time, year-round workers | 22,518 | (X) |
| Poverty Status in 1999 (Below Poverty Level) | ||
| Families | 153,113 | (X) |
| Percent below poverty level | (X) | 12.5 |
| With related children under 18 years | 113,695 | (X) |
| Percent below poverty level | (X) | 18.2 |
| With related children under 5 years | 51,692 | (X) |
| Percent below poverty level | (X) | 21.9 |
| Families with female householder, no husband present | 85,644 | (X) |
| Percent below poverty level | (X) | 35.6 |
| With related children under 18 years | 73,882 | (X) |
| Percent below poverty level | (X) | 44.6 |
| With related children under 5 years | 33,426 | (X) |
| Percent below poverty level | (X) | 56.6 |
| Individuals | 698,097 | (X) |
| Percent below poverty level | (X) | 16.1 |
| 18 years and over | 460,216 | (X) |
| Percent below poverty level | (X) | 14.3 |
| 65 years and over | 86,276 | (X) |
| Percent below poverty level | (X) | 15.5 |
| Related children under 18 years | 233,961 | (X) |
| Percent below poverty level | (X) | 21.2 |
| Related children 5 to 17 years | 164,899 | (X) |
| Percent below poverty level | (X) | 20.3 |
| Unrelated individuals 15 years and over | 196,748 | (X) |
| Percent below poverty level | (X) | 30.3 |
Alabama Cost of Living (2006)
| Cost of Living Indexes | Alabama | USA |
|---|---|---|
| Overall | 80.71 | 100 |
| Food | 96.08 | 100 |
| Housing | 53.17 | 100 |
| Utilities | 92.5 | 100 |
| Health | 91.00 | 100 |
| Miscellaneous | 99.08 | 100 |
| Transportation | 95.50 | 100 |
Top Highest-Paid States (2006 Year)
| Rank | State | The mean hourly wage | The mean annual wage |
|---|---|---|---|
| 1 | District of Columbia | $30 | $61,500 |
| ... | ... | ... | ... |
| 40 | Kentucky | $16 | $33,490 |
| 41 | Alabama | $16 | $33,440 |
| 42 | South Carolina | $16 | $33,400 |
| ... | ... | ... | ... |
| 54 | Puerto Rico | $11 | $23,190 |
Jobs / Salaries in Alabama (2006 Year)
| Rank | State | Jobs | Hourly | Annualy |
|---|---|---|---|---|
| 1 | NV | Real Estate Brokers | 71 | None |
| ... | ... | ... | ... | ... |
| 38 | TN | Real Estate Brokers | None | None |
| 39 | AL | Real Estate Brokers | None | None |
| 40 | NY | Real Estate Brokers | None | None |
| ... | ... | ... | ... | ... |
| 47 | VI | Real Estate Brokers | None | None |
Employed/Unemployed Stats (2000 Year)
| Rank | Location: | Employed (in thousands) |
Unemployed (in thousands) |
Unemployed Rate |
|---|---|---|---|---|
| 1 | HI | 157,070 | 3,802 | 2.4% |
| 2 | NE | 10,164 | 314 | 2.8% |
| 3 | WY | 11,983 | 395 | 3.3% |
| ... | ... | ... | ... | ... |
| 51 | AK | 11,983 | 861 | 9.1% |
| 52 | PR | 16,163 | 1,872 | 12.0% |
