| Jackson County vs. North Carolina Comparative Trends Analysis: Per Capita Personal Income Growth and Change, 1969-2022 Introduction Jackson County: 2022 PCI = $44,870 2022 Percent of State = 77.22% North Carolina: 2022 PCI = $58,109 Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives. Data Definition: This measure of income is calculated as the total personal income of the residents of an area divided by the population of the area. Per capita personal income is often used as an indicator of consumers' purchasing power and of the economic well-being of the residents of an area. Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year. For smaller counties in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant. Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent counties may exhibit sharp fluctuations over time. The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation. Figure 1. Figure 1 depicts Jackson County's annual per capita personal income over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Jackson County over time. When measured in current dollars, Jackson County's per capita personal income increased 1,729.39%, from $2,453 in 1970 to $44,870 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 211.61%, from $12,409 in 1970 to $38,667 in 2022. Figure 2. Figure 2 tracks Jackson County's and North Carolina's annual real per capita personal income for the period 1969-2022 to illustrate real per capita personal income patterns over time. During this 54-year period, Jackson County's real per capita personal income rose from $12,081 in 1969 to $38,667 in 2022, for a net gain of $26,585, or 220.06%. In comparison, North Carolina's real per capita personal income advanced from $16,693 in 1969 to $50,075 in 2022, for a net advance of $33,383, or 199.98%. Figure 3. Figure 3 displays the short-run pattern of Jackson County's real per capita personal income growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also illustrated on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average. On average, Jackson County's real per capita personal income grew at an annual rate of 2.28% over 1970-2022. The county posted its highest growth in 2020 (9.52%) and recorded its lowest growth in 2009 (-5.86%). In 2022, Jackson County's real per capita personal income declined by -4.30% Figure 4. Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 4 again illustrates the annual percent change in Jackson County's real per capita personal income since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022. During the 1970s, Jackson County's annual real per capita personal income growth rate averaged 3.62%. It averaged 2.88% in the 1980s, 2.43% during the 1990s, 0.30% during the 2000s, 1.79% throughout the 2010s, 3.47% thus far this decade (2020-2022). Figure 5. Figure 5 compares the decade average growth rates for Jackson County noted in the previous graph with the corresponding decade averages for North Carolina and the nation. As the chart reveals, Jackson County's average annual real per capita personal income growth topped North Carolina's average throughout the 1970s (3.62% vs. 2.62%), lagged North Carolina's average in the 1980s (2.88% vs. 3.09%), registered above North Carolina's average during the 1990s (2.43% vs. 2.24%), trailed North Carolina's average throughout the 2000s (0.30% vs. 1.10%), topped North Carolina's average throughout the 2010s (1.79% vs. 1.49%), and outperformed North Carolina's average over the 3 year period of the current decade, 2020-2022 (3.47% vs. 2.43%). Finally, relative to nationwide real per capita personal income growth trends, Jackson County led the nation throughout the 1970s (3.62% vs. 2.37%), outgained the nation in the 1980s (2.88% vs. 2.19%), outpaced the nation throughout the 1990s (2.43% vs. 2.01%), posted below the nation throughout the 2000s (0.30% vs. 1.10%), lagged the nation throughout the 2010s (1.79% vs. 1.97%), and exceeded the nation over 2020-2022 (3.47% vs. 1.78%). | | | | Real* Per Capita Personal Income Growth: Average Annual Percent Change | | | | | | | | | | | | | | | | | | | | | 2.28 | 3.62 | 2.88 | 2.43 | 0.30 | 1.79 | 3.47 | -4.30 | | | 2.13 | 2.62 | 3.09 | 2.24 | 1.10 | 1.49 | 2.43 | -3.74 | | | 1.92 | 2.37 | 2.19 | 2.01 | 1.10 | 1.97 | 1.78 | -4.55 |
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Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | Jackson County: Per Capita Personal Income, 1969-2022 | | | | | | | | | | 1969 | | 2,281 | 0.189 | 12,081 | 100.0 | N | 72.37 | 58.04 | 1970 | | 2,453 | 0.198 | 12,409 | 102.7 | 2.71 | 72.21 | 58.43 | 1971 | | 2,749 | 0.206 | 13,339 | 110.4 | 7.50 | 75.81 | 61.48 | 1972 | | 3,048 | 0.213 | 14,304 | 118.4 | 7.23 | 75.72 | 62.76 | 1973 | | 3,451 | 0.225 | 15,367 | 127.2 | 7.43 | 76.83 | 64.34 | 1974 | | 3,624 | 0.248 | 14,618 | 121.0 | -4.88 | 74.25 | 62.10 | 1975 | | 4,100 | 0.269 | 15,265 | 126.4 | 4.43 | 78.41 | 64.84 | 1976 | | 4,513 | 0.283 | 15,930 | 131.9 | 4.36 | 78.57 | 65.65 | 1977 | | 4,877 | 0.302 | 16,161 | 133.8 | 1.45 | 78.51 | 64.89 | 1978 | | 5,623 | 0.323 | 17,420 | 144.2 | 7.79 | 81.22 | 67.29 | 1979 | | 6,011 | 0.351 | 17,105 | 141.6 | -1.81 | 79.43 | 65.11 | 1980 | | 6,509 | 0.389 | 16,720 | 138.4 | -2.25 | 77.95 | 63.91 | 1981 | | 7,200 | 0.424 | 16,975 | 140.5 | 1.53 | 77.35 | 63.77 | 1982 | | 7,698 | 0.448 | 17,193 | 142.3 | 1.28 | 78.03 | 64.20 | 1983 | | 8,368 | 0.467 | 17,928 | 148.4 | 4.27 | 78.66 | 65.89 | 1984 | | 9,079 | 0.484 | 18,743 | 155.1 | 4.54 | 76.61 | 65.37 | 1985 | | 9,622 | 0.501 | 19,195 | 158.9 | 2.41 | 76.20 | 65.25 | 1986 | | 10,442 | 0.512 | 20,388 | 168.8 | 6.21 | 77.53 | 67.45 | 1987 | | 10,934 | 0.528 | 20,708 | 171.4 | 1.57 | 76.46 | 67.38 | 1988 | | 11,935 | 0.549 | 21,754 | 180.1 | 5.05 | 76.95 | 68.43 | 1989 | | 12,979 | 0.573 | 22,667 | 187.6 | 4.20 | 77.76 | 69.56 | 1990 | | 13,672 | 0.598 | 22,873 | 189.3 | 0.91 | 78.21 | 69.69 | 1991 | | 14,223 | 0.618 | 23,025 | 190.6 | 0.66 | 79.11 | 70.94 | 1992 | | 15,038 | 0.634 | 23,712 | 196.3 | 2.98 | 78.23 | 71.35 | 1993 | | 16,016 | 0.650 | 24,640 | 204.0 | 3.91 | 79.81 | 73.76 | 1994 | | 16,096 | 0.664 | 24,257 | 200.8 | -1.55 | 76.91 | 71.37 | 1995 | | 16,774 | 0.678 | 24,758 | 204.9 | 2.06 | 76.39 | 71.15 | 1996 | | 17,402 | 0.692 | 25,146 | 208.1 | 1.57 | 75.66 | 70.38 | 1997 | | 18,517 | 0.704 | 26,299 | 217.7 | 4.59 | 76.55 | 71.42 | 1998 | | 20,092 | 0.710 | 28,312 | 234.3 | 7.65 | 79.15 | 73.08 | 1999 | | 20,702 | 0.720 | 28,753 | 238.0 | 1.56 | 79.14 | 72.40 | 2000 | | 21,484 | 0.738 | 29,103 | 240.9 | 1.22 | 78.38 | 70.32 | 2001 | | 22,729 | 0.753 | 30,184 | 249.8 | 3.72 | 81.81 | 72.05 | 2002 | | 22,936 | 0.763 | 30,064 | 248.8 | -0.40 | 82.34 | 72.12 | 2003 | | 23,198 | 0.779 | 29,781 | 246.5 | -0.94 | 80.80 | 71.03 | 2004 | | 24,205 | 0.798 | 30,322 | 251.0 | 1.82 | 79.14 | 70.81 | 2005 | | 25,777 | 0.821 | 31,386 | 259.8 | 3.51 | 80.03 | 72.27 | 2006 | | 27,087 | 0.844 | 32,079 | 265.5 | 2.21 | 79.23 | 71.58 | 2007 | | 28,325 | 0.866 | 32,705 | 270.7 | 1.95 | 78.77 | 71.55 | 2008 | | 27,926 | 0.892 | 31,317 | 259.2 | -4.24 | 73.93 | 68.36 | 2009 | | 26,217 | 0.889 | 29,483 | 244.0 | -5.86 | 72.98 | 66.70 | 2010 | | 26,330 | 0.905 | 29,090 | 240.8 | -1.34 | 73.45 | 64.92 | 2011 | | 26,653 | 0.928 | 28,719 | 237.7 | -1.27 | 72.39 | 62.49 | 2012 | | 27,306 | 0.945 | 28,885 | 239.1 | 0.58 | 70.26 | 61.73 | 2013 | | 27,170 | 0.958 | 28,367 | 234.8 | -1.80 | 71.38 | 61.19 | 2014 | | 28,833 | 0.971 | 29,688 | 245.7 | 4.66 | 72.33 | 62.29 | 2015 | | 30,519 | 0.973 | 31,367 | 259.6 | 5.65 | 73.33 | 63.50 | 2016 | | 30,916 | 0.983 | 31,456 | 260.4 | 0.29 | 72.61 | 63.13 | 2017 | | 32,412 | 1.000 | 32,412 | 268.3 | 3.04 | 73.32 | 63.55 | 2018 | | 33,647 | 1.020 | 32,972 | 272.9 | 1.73 | 73.08 | 63.12 | 2019 | | 36,309 | 1.035 | 35,076 | 290.3 | 6.38 | 75.07 | 65.37 | 2020 | | 40,196 | 1.046 | 38,415 | 318.0 | 9.52 | 77.63 | 67.95 | 2021 | | 44,040 | 1.090 | 40,404 | 334.4 | 5.18 | 77.67 | 68.35 | 2022 | | 44,870 | 1.160 | 38,667 | 320.1 | -4.30 | 77.22 | 68.54 |
Source: Calculations by the North Carolina Regional Economic Analysis Project (NC-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_700_PSN | | | | |
Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | North Carolina: Per Capita Personal Income, 1969-2022 | | | | | | | | | 1969 | | 3,152 | 0.189 | 16,693 | 100.0 | N | 80.19 | 1970 | | 3,397 | 0.198 | 17,185 | 102.9 | 2.95 | 80.92 | 1971 | | 3,626 | 0.206 | 17,597 | 105.4 | 2.40 | 81.10 | 1972 | | 4,025 | 0.213 | 18,892 | 113.2 | 7.36 | 82.88 | 1973 | | 4,491 | 0.225 | 20,002 | 119.8 | 5.88 | 83.75 | 1974 | | 4,881 | 0.248 | 19,686 | 117.9 | -1.58 | 83.64 | 1975 | | 5,229 | 0.269 | 19,467 | 116.6 | -1.11 | 82.69 | 1976 | | 5,745 | 0.283 | 20,275 | 121.5 | 4.15 | 83.56 | 1977 | | 6,211 | 0.302 | 20,583 | 123.3 | 1.52 | 82.64 | 1978 | | 6,922 | 0.323 | 21,447 | 128.5 | 4.20 | 82.84 | 1979 | | 7,568 | 0.351 | 21,535 | 129.0 | 0.41 | 81.97 | 1980 | | 8,350 | 0.389 | 21,450 | 128.5 | -0.40 | 81.99 | 1981 | | 9,309 | 0.424 | 21,947 | 131.5 | 2.32 | 82.44 | 1982 | | 9,864 | 0.448 | 22,033 | 132.0 | 0.39 | 82.27 | 1983 | | 10,639 | 0.467 | 22,793 | 136.5 | 3.45 | 83.76 | 1984 | | 11,850 | 0.484 | 24,463 | 146.6 | 7.33 | 85.32 | 1985 | | 12,628 | 0.501 | 25,192 | 150.9 | 2.98 | 85.64 | 1986 | | 13,470 | 0.512 | 26,298 | 157.5 | 4.39 | 87.00 | 1987 | | 14,301 | 0.528 | 27,084 | 162.3 | 2.99 | 88.13 | 1988 | | 15,510 | 0.549 | 28,269 | 169.3 | 4.37 | 88.92 | 1989 | | 16,692 | 0.573 | 29,151 | 174.6 | 3.12 | 89.46 | 1990 | | 17,481 | 0.598 | 29,245 | 175.2 | 0.32 | 89.10 | 1991 | | 17,978 | 0.618 | 29,103 | 174.3 | -0.49 | 89.67 | 1992 | | 19,222 | 0.634 | 30,309 | 181.6 | 4.14 | 91.20 | 1993 | | 20,067 | 0.650 | 30,872 | 184.9 | 1.86 | 92.42 | 1994 | | 20,928 | 0.664 | 31,539 | 188.9 | 2.16 | 92.80 | 1995 | | 21,959 | 0.678 | 32,409 | 194.2 | 2.76 | 93.13 | 1996 | | 23,000 | 0.692 | 33,236 | 199.1 | 2.55 | 93.02 | 1997 | | 24,189 | 0.704 | 34,356 | 205.8 | 3.37 | 93.30 | 1998 | | 25,385 | 0.710 | 35,770 | 214.3 | 4.12 | 92.33 | 1999 | | 26,158 | 0.720 | 36,331 | 217.6 | 1.57 | 91.49 | 2000 | | 27,410 | 0.738 | 37,130 | 222.4 | 2.20 | 89.72 | 2001 | | 27,782 | 0.753 | 36,894 | 221.0 | -0.64 | 88.06 | 2002 | | 27,856 | 0.763 | 36,512 | 218.7 | -1.03 | 87.59 | 2003 | | 28,709 | 0.779 | 36,857 | 220.8 | 0.94 | 87.91 | 2004 | | 30,586 | 0.798 | 38,315 | 229.5 | 3.96 | 89.48 | 2005 | | 32,209 | 0.821 | 39,218 | 234.9 | 2.36 | 90.30 | 2006 | | 34,189 | 0.844 | 40,489 | 242.6 | 3.24 | 90.35 | 2007 | | 35,960 | 0.866 | 41,521 | 248.7 | 2.55 | 90.84 | 2008 | | 37,772 | 0.892 | 42,360 | 253.8 | 2.02 | 92.46 | 2009 | | 35,921 | 0.889 | 40,397 | 242.0 | -4.63 | 91.39 | 2010 | | 35,847 | 0.905 | 39,604 | 237.3 | -1.96 | 88.39 | 2011 | | 36,816 | 0.928 | 39,671 | 237.7 | 0.17 | 86.32 | 2012 | | 38,867 | 0.945 | 41,114 | 246.3 | 3.64 | 87.86 | 2013 | | 38,062 | 0.958 | 39,739 | 238.1 | -3.35 | 85.72 | 2014 | | 39,866 | 0.971 | 41,048 | 245.9 | 3.29 | 86.13 | 2015 | | 41,617 | 0.973 | 42,773 | 256.2 | 4.20 | 86.59 | 2016 | | 42,582 | 0.983 | 43,325 | 259.5 | 1.29 | 86.95 | 2017 | | 44,207 | 1.000 | 44,207 | 264.8 | 2.04 | 86.67 | 2018 | | 46,040 | 1.020 | 45,116 | 270.3 | 2.06 | 86.36 | 2019 | | 48,366 | 1.035 | 46,725 | 279.9 | 3.57 | 87.07 | 2020 | | 51,781 | 1.046 | 49,487 | 296.5 | 5.91 | 87.54 | 2021 | | 56,705 | 1.090 | 52,022 | 311.6 | 5.12 | 88.01 | 2022 | | 58,109 | 1.160 | 50,075 | 300.0 | -3.74 | 88.76 |
Source: Calculations by the North Carolina Regional Economic Analysis Project (NC-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_700_PSN | | | | |
Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | United States: Per Capita Personal Income, 1969-2022 | | | | | | | | 1969 | | 3,931 | 0.189 | 20,816 | 100.0 | N | 1970 | | 4,198 | 0.198 | 21,238 | 102.0 | 2.03 | 1971 | | 4,471 | 0.206 | 21,697 | 104.2 | 2.16 | 1972 | | 4,857 | 0.213 | 22,793 | 109.5 | 5.05 | 1973 | | 5,363 | 0.225 | 23,883 | 114.7 | 4.78 | 1974 | | 5,836 | 0.248 | 23,537 | 113.1 | -1.45 | 1975 | | 6,324 | 0.269 | 23,544 | 113.1 | 0.03 | 1976 | | 6,875 | 0.283 | 24,265 | 116.6 | 3.07 | 1977 | | 7,516 | 0.302 | 24,906 | 119.6 | 2.64 | 1978 | | 8,356 | 0.323 | 25,889 | 124.4 | 3.95 | 1979 | | 9,232 | 0.351 | 26,271 | 126.2 | 1.47 | 1980 | | 10,184 | 0.389 | 26,160 | 125.7 | -0.42 | 1981 | | 11,291 | 0.424 | 26,621 | 127.9 | 1.76 | 1982 | | 11,990 | 0.448 | 26,781 | 128.7 | 0.60 | 1983 | | 12,701 | 0.467 | 27,210 | 130.7 | 1.61 | 1984 | | 13,889 | 0.484 | 28,674 | 137.7 | 5.38 | 1985 | | 14,746 | 0.501 | 29,417 | 141.3 | 2.59 | 1986 | | 15,482 | 0.512 | 30,227 | 145.2 | 2.75 | 1987 | | 16,228 | 0.528 | 30,733 | 147.6 | 1.67 | 1988 | | 17,442 | 0.549 | 31,790 | 152.7 | 3.44 | 1989 | | 18,658 | 0.573 | 32,584 | 156.5 | 2.50 | 1990 | | 19,619 | 0.598 | 32,821 | 157.7 | 0.73 | 1991 | | 20,050 | 0.618 | 32,457 | 155.9 | -1.11 | 1992 | | 21,077 | 0.634 | 33,234 | 159.7 | 2.39 | 1993 | | 21,713 | 0.650 | 33,405 | 160.5 | 0.51 | 1994 | | 22,552 | 0.664 | 33,986 | 163.3 | 1.74 | 1995 | | 23,577 | 0.678 | 34,798 | 167.2 | 2.39 | 1996 | | 24,725 | 0.692 | 35,729 | 171.6 | 2.67 | 1997 | | 25,925 | 0.704 | 36,822 | 176.9 | 3.06 | 1998 | | 27,493 | 0.710 | 38,740 | 186.1 | 5.21 | 1999 | | 28,592 | 0.720 | 39,711 | 190.8 | 2.51 | 2000 | | 30,551 | 0.738 | 41,384 | 198.8 | 4.21 | 2001 | | 31,548 | 0.753 | 41,895 | 201.3 | 1.23 | 2002 | | 31,801 | 0.763 | 41,684 | 200.2 | -0.50 | 2003 | | 32,659 | 0.779 | 41,928 | 201.4 | 0.59 | 2004 | | 34,183 | 0.798 | 42,821 | 205.7 | 2.13 | 2005 | | 35,669 | 0.821 | 43,432 | 208.6 | 1.43 | 2006 | | 37,843 | 0.844 | 44,816 | 215.3 | 3.19 | 2007 | | 39,588 | 0.866 | 45,710 | 219.6 | 1.99 | 2008 | | 40,854 | 0.892 | 45,816 | 220.1 | 0.23 | 2009 | | 39,307 | 0.889 | 44,204 | 212.4 | -3.52 | 2010 | | 40,557 | 0.905 | 44,808 | 215.3 | 1.36 | 2011 | | 42,649 | 0.928 | 45,956 | 220.8 | 2.56 | 2012 | | 44,237 | 0.945 | 46,795 | 224.8 | 1.83 | 2013 | | 44,401 | 0.958 | 46,357 | 222.7 | -0.94 | 2014 | | 46,287 | 0.971 | 47,659 | 229.0 | 2.81 | 2015 | | 48,060 | 0.973 | 49,394 | 237.3 | 3.64 | 2016 | | 48,971 | 0.983 | 49,826 | 239.4 | 0.88 | 2017 | | 51,004 | 1.000 | 51,004 | 245.0 | 2.36 | 2018 | | 53,309 | 1.020 | 52,240 | 251.0 | 2.42 | 2019 | | 55,547 | 1.035 | 53,662 | 257.8 | 2.72 | 2020 | | 59,153 | 1.046 | 56,533 | 271.6 | 5.35 | 2021 | | 64,430 | 1.090 | 59,110 | 284.0 | 4.56 | 2022 | | 65,470 | 1.160 | 56,419 | 271.0 | -4.55 |
Source: Calculations by the North Carolina Regional Economic Analysis Project (NC-REAP) with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis November 2023 REAP_PI_CA1400_700_PN | | | | |
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