Considerable diversity has been observed in the uses of the palm species Attalea speciosa Mart. ex Spreng, including its use in human and animal food, handicrafts, construction, medicine, cosmetics, religious items, and commercial purposes. This study assesses the relationships among the knowledge, use, and socioeconomic characteristics of extractivists who utilize this species in two rural communities (Macauba and Saco smallholdings) located in the Araripe region of northeastern Brazil. Semistructured interviews were conducted with the palm extractivists identified through snowball sampling. In Macauba, 50 uses for A. speciosa were identified, whereas in Saco, 41 uses were identified. These uses were grouped into eight different categories, the most prominent of which were handicrafts, construction, and human food. The monthly income of extractivists at Macauba was significantly and directly related to the number of known uses. A significant and inverse relationship was found between the age of the Macauba extractivists and number of known uses in the community, demonstrating that there is a trend toward increased knowledge of the palm among the younger members of this community. In the Saco community, there was no significant correlation observed between the extractivist's age, monthly family income, or commercial income from babassu and the number of known uses. Neither was a significant relationship observed between knowledge and current practices regarding A. speciosa in either of the two communities studied. Babassu palm is considered a resource of high commercial importance by the residents of these communities, and its use as a subsistence resource was uncommon. However, access to technology may replace some of the traditional uses of babassu and influence the type of use practiced in the community.