GDP in Fremont County dropped 30% over 5 years

The gross domestic product of Fremont County in Iowa dropped 30 percent from 2013 to 2018, making it the poorest performing region in the state for economic growth, according to a 24/7 Wall St. study.

Only four states – California, Hawaii, Massachusetts and New Hampshire – had no counties reporting negative GDP growth during that five-year period, the analysis said. But all states had counties whose economic growth was well below the national average of 13 percent from 2013 to 2018, according to 24/7 Wall St.

Fremont County had a GDP in 2018 of $241.3 million, with agriculture, forestry, and hunting and fishing identified as the fastest shrinking industry over the previous five years, the study said. The jobless rate in that region dropped 2.3 percentage points over the five-year period that was examined.

Thirteen counties in the 24/7 Wall St. ranking reported that the local industry in steepest decline was mining, quarrying and oil extraction, which tends to be more volatile than other sectors of the economy, the report said.

Negative economic trends in the counties with shrinking GDP numbers may also be causing residents to move elsewhere, leading to declining local populations, according to 24/7 Wall St.

Weakest Local Economy in Every State

StateCounty With Poorest Performing EconomyGDP Change From 2013-20182018 County GDPFastest Shrinking IndustryUnemployment Change 2013-2018 (in Percentage Points)Median Household IncomeAlabamaLawrence-29.5%$563.2 millionManufacturing-4.1$44,515AlaskaYakutat City and Borough-33.9%$28.4 millionEducational services-1.3$65,833ArizonaGila-7.9%$2 billionFinance and insurance-3.7$42,092ArkansasLee-31.5%$178.1 millionAgriculture, forestry-4.5$28,367CaliforniaColusa5.3%$1.7 billionAdministration, waste management and remediation services-6.0$56,704ColoradoKiowa-25.4%$73.8 millionAgriculture, forestry, hunting and fishing-2.7$39,784ConnecticutLitchfield-3.6%$7.7 billionArts, entertainment, recreation-3.3$78,314DelawareNew Castle-0.7%$42.5 billionInformation-2.8$70,996FloridaUnion-4.7%$299.2 millionMining, quarrying, oil and gas exploration-2.9$41,770GeorgiaPutnam-25.5%$445.7 millionUtilities-5.3$51,245HawaiiHonolulu9.2%$61.1 billionUtilities-2.1$82,906IdahoCuster-40.3%$177.3 millionMining, quarrying, oil and gas exploration-4.4$39,957IllinoisSaline-26.6%$849.8 millionMining, quarrying, oil and gas exploration-4.1$41,167IndianaPike-25.4%$690.5 millionMining, quarrying, oil and gas exploration-3.3$52,527IowaFremont-30.0%$241.3 millionAgriculture, forestry, hunting and fishing-2.3$54,281KansasSheridan-30.3%$131.9 millionAgriculture, forestry, hunting and fishing-0.4$56,071KentuckyUnion-37.3%$593.5 millionAgriculture, forestry, hunting and fishing-2.7$42,844LouisianaSt. John the Baptist Parish-38.8%$2.4 billionTransportation and warehousing-3.0$54,821MaineFranklin-3.0%$985 millionManufacturing-3.7$48,053MarylandKent-1.9%$831.8 millionMining, quarrying, oil and gas exploration-2.9$56,009MassachusettsBerkshire5.8%$6.7 billionUtilities-3.4$56,674MichiganBaraga-4.9%$259.1 millionWholesale trade-8.4$42,444MinnesotaCook-20.5%$252 millionUtilities-2.3$52,271MississippiTallahatchie-31.5%$224.6 millionAgriculture, forestry, hunting and fishing-5.8$30,028MissouriPemiscot-29.8%$423.6 millionMining, quarrying, oil and gas exploration-4.8$33,390MontanaPetroleum-39.2%$22.5 millionMining, quarrying, oil and gas exploration-0.6$44,688NebraskaHayes-36.9%$41.3 millionAgriculture, forestry, hunting and fishing-1.2$45,515NevadaHumboldt-17.8%$1.2 billionConstruction-2.8$57,598New HampshireCoos0.4%$1.1 billionFinance and insurance-2.9$45,696New JerseySalem-12.5%$5 billionAdministration, waste management and remediation services-5.0$64,309New MexicoMora-42.7%$76.6 millionTransportation and warehousing-5.6$26,968New YorkJefferson-8.1%$5.9 billionGovernment and government enterprises-3.6$52,268North CarolinaTyrrell-22.2%$105.3 millionAgriculture, forestry, hunting and fishing-6.6$35,472North DakotaSlope-48.6%$57.3 millionManufacturing0.2$63,942OhioAdams-44.1%$835.3 millionUtilities-5.6$36,894OklahomaHarmon-37.4%$70.3 millionAgriculture, forestry, hunting and fishing-1.4$41,607OregonSherman-13.7%$583.9 millionUtilities-5.2$48,056PennsylvaniaIndiana-11.4%$3.9 billionMining, quarrying, oil and gas exploration-2.8$46,877Rhode IslandKent-0.5%$8.1 billionFinance and insurance-5.0$70,223South CarolinaClarendon-7.2%$551.3 millionAgriculture, forestry, hunting and fishing-5.6$37,525South DakotaPotter-50.3%$137.6 millionAgriculture, forestry, hunting and fishing-0.3$53,600TennesseeUnicoi-13.1%$494.8 millionConstruction-5.6$39,851TexasWheeler-43.6%$1.1 billionUtilities-1.1$49,352UtahMillard-8.4%$773.8 millionAgriculture, forestry, hunting and fishing-0.8$60,445VermontCaledonia-1.7%$1 billionMining, quarrying, oil and gas exploration-2.0$49,348VirginiaHalifax-13.2%$1.3 billionEducational services-5.0$42,289WashingtonFerry-1.8%$193.3 millionMining, quarrying, oil and gas exploration-1.8$41,924West VirginiaBoone-46.2%$663.2 millionMining, quarrying, oil and gas exploration-3.5$38,642WisconsinWaushara-5.9%$560.2 millionMining, quarrying, oil and gas exploration-5.1$51,195WyomingJohnson-19.2%$439 millionConstruction-1.1$55,991

Source: 24/7 Wall St.

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