Forsyth County vs. North Carolina
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2019
Introduction
Forsyth County vs. North Carolina
Forsyth County:
2019 Earnings = $14,866,081K
2019 Percent of State = 4.2%
North Carolina:
2019 Earnings = $351,655,768K
2019 Percent of U.S. = 2.7%
Industry earnings are incomes received by people who are directly involved with producing goods and services. Earnings, referred to also as "labor and proprietors income", include (1) wage and salary disbursements, (2) other labor income such as employer contributions to private retirement and medical insurance programs, and (3) the net incomes of proprietors (i.e., the owners of unincorporated enterprises).
In contrast to the more frequently cited employment data, earnings data more accurately reflect qualitative differences in labor's contributions toward the production of goods and services, namely the productivity differences reflected in variations in earnings per job. Earnings data, therefore, are better for comparing and tracking long-term trends and identifying short-run shifts in the level and composition of economic activity within and among counties.
Just like the employment data compiled by BEA, earnings data are reported on a place-of-work, or more accurately on a place-where-earned, basis.
Note: the BEA earnings data presented and discussed here in the context of comparing and assessing the economic growth and performance of county and regional economies are entirely separate and apart from--and should not be confused with--corporate earnings, which are compiled from the balance sheets of individual private corporations.
Forsyth County Total Industry Earnings, 1970-2019
Current vs. Constant Dollars (Millions)
Forsyth County Total Industry Earnings, 1970-2019
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Forsyth County's annual total industry earnings over 1970-2019 in current and constant (2012) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Forsyth County over time.
When measured in current dollars, Forsyth County's total industry earnings increased 1,629.7%, from $859M in 1970 to $14,866M in 2019. When measured in constant 2012 dollars to adjust for inflation, it advanced 229.9%, from $4,102M in 1970 to $13,533M in 2019.
Real Total Industry Earnings, 1969-2019 (Millions)
Real Total Industry Earnings, 1969-2019 (Millions)
Figure 2.
Figure 2 tracks Forsyth County's and North Carolina's annual real total industry earnings for the period 1969-2019 to illustrate real total industry earnings patterns over time. During this 51-year period, Forsyth County's real total industry earnings rose from $3,902M in 1969 to $13,533M in 2019, for a net gain of $9,631M, or 246.8%. In comparison, North Carolina's real total industry earnings advanced from $68,426M in 1969 to $320,121M in 2019, for a net advance of $251,695M, or 367.8%.
Real Total Industry Earnings Indices (1969=100): 1969-2019
Real Total Industry Earnings Indices (1969=100): 1969-2019
Figure 3.
Figure 3 portrays Forsyth County's real total industry earnings growth in a broader context by offering direct comparisons across time with North Carolina, the United States. The growth indices shown here express each region's real total industry earnings in 1969 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total industry earnings growth between regions that may differ vastly in size.
Forsyth County's overall real total industry earnings growth was 246.8% over 1969-2019 trailed North Carolina's increase of 367.8%, and fell below the United States' increase of 264.6%.
Total Industry Earnings as a Percent of the North Carolina Total: 1969-2019
Total Industry Earnings as a Percent of the North Carolina Total: 1969-2019
Figure 4.
Another interesting and insightful way of contrasting the total industry earnings growth of Forsyth County is to compare its individual percentage contributions to North Carolina's statewide total industry earnings over time, as shown in Figure 4. A rising share means a region's total industry earnings grew faster, or declined less, than North Carolina's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Forsyth County's total industry earnings comprised 5.7% of North Carolina's total industry earnings, while in 2019 it equated to 4.2% thereby yielding a -1.5% share-shift.
   
 
Total Industry Earnings Share-Shift
2019 vs. 1969
 
Share-
Shift*
 
2019
vs.
1969
-1.48%
=
4.23%
-
5.70%
 
   
Forsyth County Real Total Industry Earnings:
Annual Percent Change, 1970-2019
Forsyth County Real Total Industry Earnings:
Annual Percent Change, 1970-2019
Figure 5.
Figure 5 highlights the short-run pattern of Forsyth County's real total industry earnings growth by tracking the year-to-year percent change over 1970-2019. The average annual percent change for the entire 50-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, Forsyth County's real total industry earnings grew at an annual rate of 2.57% over 1970-2019. The county posted its highest growth in 1972 (8.72%) and recorded its lowest growth in 2011 (-5.13%). In 2019, Forsyth County's real total industry earnings grew by 3.59%
Forsyth County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2019
Forsyth County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2019
Figure 6.
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 6 again illustrates the annual percent change in Forsyth County's real total industry earnings since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, and 2010-2019.
During the 1970s, Forsyth County's annual real total industry earnings growth rate averaged 4.32%. It averaged 3.54% in the 1980s, 2.25% throughout the 1990s, 1.15% in the 2000s, and 1.56% thus far this decade (2010 to 2019).
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Forsyth County noted in the previous graph with the corresponding decade averages for North Carolina and the nation. As the chart reveals, Forsyth County's average annual real total industry earnings growth outperformed North Carolina's average during the 1970s (4.32% vs. 3.59%), amounted to less than North Carolina's average in the 1980s (3.54% vs. 3.90%), posted below North Carolina's average during the 1990s (2.25% vs. 4.07%), recorded under North Carolina's average throughout the 2000s (1.15% vs. 2.17%), and trailed North Carolina's average over the 10 year period of the last decade, 2010-2019 (1.56% vs. 2.19%).
Finally, relative to nationwide real total industry earnings growth trends, Forsyth County outpaced the nation throughout the 1970s (4.32% vs. 3.13%), exceeded the nation during the 1980s (3.54% vs. 2.62%), posted below the nation throughout the 1990s (2.25% vs. 3.43%), trailed the nation in the 2000s (1.15% vs. 1.49%), and posted below the nation over 2010-2019 (1.56% vs. 2.58%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.57
4.32
3.54
2.25
1.15
1.56
3.59
 
3.18
3.59
3.90
4.07
2.17
2.19
3.43
 
2.65
3.13
2.62
3.43
1.49
2.58
2.92
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Forsyth County:
Total Industry Earnings, 1969-2019
 
1969
 
781,033
0.200
3,902,238
100.0
N
5.70
1970
 
859,458
0.210
4,102,229
105.1
5.13
5.86
1971
 
921,729
0.218
4,220,178
108.1
2.88
5.79
1972
 
1,036,256
0.226
4,588,046
117.6
8.72
5.72
1973
 
1,178,253
0.238
4,950,227
126.9
7.89
5.70
1974
 
1,291,293
0.263
4,913,596
125.9
-0.74
5.78
1975
 
1,411,001
0.285
4,956,098
127.0
0.86
6.04
1976
 
1,594,113
0.300
5,308,048
136.0
7.10
6.09
1977
 
1,792,566
0.320
5,604,221
143.6
5.58
6.24
1978
 
1,987,145
0.342
5,808,497
148.9
3.65
6.08
1979
 
2,210,038
0.373
5,932,829
152.0
2.14
6.14
1980
 
2,456,588
0.413
5,953,633
152.6
0.35
6.26
1981
 
2,722,608
0.450
6,055,892
155.2
1.72
6.26
1982
 
2,859,079
0.475
6,024,694
154.4
-0.52
6.27
1983
 
3,063,360
0.495
6,191,858
158.7
2.77
6.15
1984
 
3,410,898
0.513
6,643,355
170.2
7.29
6.01
1985
 
3,743,447
0.531
7,045,295
180.5
6.05
6.08
1986
 
3,988,010
0.543
7,345,754
188.2
4.26
5.98
1987
 
4,374,595
0.560
7,816,802
200.3
6.41
6.01
1988
 
4,836,683
0.582
8,317,455
213.1
6.40
6.07
1989
 
5,080,814
0.607
8,371,748
214.5
0.65
5.94
1990
 
5,064,049
0.634
7,993,132
204.8
-4.52
5.60
1991
 
5,178,157
0.655
7,908,843
202.7
-1.05
5.53
1992
 
5,523,490
0.672
8,217,278
210.6
3.90
5.38
1993
 
5,763,369
0.689
8,365,803
214.4
1.81
5.29
1994
 
6,137,678
0.703
8,726,970
223.6
4.32
5.28
1995
 
6,508,340
0.718
9,063,152
232.3
3.85
5.28
1996
 
6,783,261
0.733
9,248,304
237.0
2.04
5.20
1997
 
7,258,902
0.746
9,727,433
249.3
5.18
5.17
1998
 
7,683,027
0.752
10,214,618
261.8
5.01
5.10
1999
 
7,952,505
0.763
10,417,492
267.0
1.99
4.97
2000
 
8,521,988
0.782
10,892,808
279.1
4.56
5.00
2001
 
8,813,356
0.797
11,052,893
283.2
1.47
5.06
2002
 
8,941,386
0.808
11,067,579
283.6
0.13
5.07
2003
 
9,286,786
0.824
11,276,119
289.0
1.88
5.06
2004
 
9,843,416
0.844
11,661,295
298.8
3.42
4.97
2005
 
10,195,934
0.868
11,744,844
301.0
0.72
4.82
2006
 
10,740,303
0.892
12,044,209
308.6
2.55
4.68
2007
 
11,079,849
0.914
12,117,335
310.5
0.61
4.52
2008
 
11,417,111
0.942
12,122,649
310.7
0.04
4.43
2009
 
10,966,007
0.941
11,654,311
298.7
-3.86
4.51
2010
 
11,490,161
0.957
12,005,811
307.7
3.02
4.71
2011
 
11,176,485
0.981
11,389,352
291.9
-5.13
4.52
2012
 
11,731,380
1.000
11,731,380
300.6
3.00
4.39
2013
 
11,636,958
1.013
11,482,405
294.3
-2.12
4.36
2014
 
12,593,821
1.028
12,247,225
313.9
6.66
4.49
2015
 
13,080,833
1.030
12,694,538
325.3
3.65
4.45
2016
 
13,204,108
1.041
12,681,503
325.0
-0.10
4.33
2017
 
13,949,747
1.060
13,162,125
337.3
3.79
4.37
2018
 
14,140,576
1.082
13,064,215
334.8
-0.74
4.22
2019
 
14,866,081
1.099
13,532,950
346.8
3.59
4.23
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 2020
REAP_PI_CA1400_1200_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
North Carolina:
Total Industry Earnings, 1969-2019
 
1969
 
13,695,429
0.200
68,425,826
100.0
N
2.10
1970
 
14,664,748
0.210
69,995,456
102.3
2.29
2.12
1971
 
15,905,718
0.218
72,825,045
106.4
4.04
2.14
1972
 
18,116,555
0.226
80,211,436
117.2
10.14
2.21
1973
 
20,658,487
0.238
86,793,072
126.8
8.21
2.25
1974
 
22,351,164
0.263
85,050,091
124.3
-2.01
2.25
1975
 
23,353,015
0.285
82,026,747
119.9
-3.55
2.20
1976
 
26,189,154
0.300
87,204,162
127.4
6.31
2.23
1977
 
28,734,374
0.320
89,834,221
131.3
3.02
2.20
1978
 
32,665,309
0.342
95,481,889
139.5
6.29
2.21
1979
 
35,982,494
0.373
96,594,706
141.2
1.17
2.18
1980
 
39,233,002
0.413
95,082,647
139.0
-1.57
2.20
1981
 
43,471,565
0.450
96,693,725
141.3
1.69
2.22
1982
 
45,591,010
0.475
96,070,065
140.4
-0.64
2.22
1983
 
49,846,549
0.495
100,753,020
147.2
4.87
2.28
1984
 
56,766,941
0.513
110,564,129
161.6
9.74
2.33
1985
 
61,550,281
0.531
115,839,728
169.3
4.77
2.35
1986
 
66,665,936
0.543
122,795,977
179.5
6.01
2.39
1987
 
72,743,723
0.560
129,983,066
190.0
5.85
2.43
1988
 
79,617,455
0.582
136,915,023
200.1
5.33
2.44
1989
 
85,519,255
0.607
140,911,608
205.9
2.92
2.47
1990
 
90,451,887
0.634
142,769,927
208.6
1.32
2.46
1991
 
93,714,590
0.655
143,134,712
209.2
0.26
2.47
1992
 
102,592,310
0.672
152,626,246
223.1
6.63
2.53
1993
 
108,938,643
0.689
158,129,599
231.1
3.61
2.57
1994
 
116,287,949
0.703
165,346,152
241.6
4.56
2.61
1995
 
123,190,745
0.718
171,548,572
250.7
3.75
2.64
1996
 
130,549,061
0.733
177,990,703
260.1
3.76
2.63
1997
 
140,497,574
0.746
188,276,502
275.2
5.78
2.66
1998
 
150,625,445
0.752
200,257,186
292.7
6.36
2.64
1999
 
159,949,078
0.763
209,527,467
306.2
4.63
2.62
2000
 
170,461,725
0.782
217,884,227
318.4
3.99
2.58
2001
 
174,113,335
0.797
218,356,787
319.1
0.22
2.54
2002
 
176,206,894
0.808
218,107,532
318.8
-0.11
2.52
2003
 
183,376,885
0.824
222,658,254
325.4
2.09
2.53
2004
 
197,980,982
0.844
234,544,055
342.8
5.34
2.58
2005
 
211,519,107
0.868
243,651,923
356.1
3.88
2.63
2006
 
229,570,540
0.892
257,441,115
376.2
5.66
2.69
2007
 
245,339,716
0.914
268,312,645
392.1
4.22
2.77
2008
 
257,505,459
0.942
273,418,410
399.6
1.90
2.86
2009
 
243,168,101
0.941
258,431,038
377.7
-5.48
2.80
2010
 
243,762,027
0.957
254,701,454
372.2
-1.44
2.70
2011
 
247,464,422
0.981
252,177,622
368.5
-0.99
2.62
2012
 
267,072,169
1.000
267,072,169
390.3
5.91
2.70
2013
 
266,760,383
1.013
263,217,476
384.7
-1.44
2.61
2014
 
280,636,099
1.028
272,912,670
398.8
3.68
2.63
2015
 
293,804,903
1.030
285,128,444
416.7
4.48
2.64
2016
 
304,803,991
1.041
292,740,169
427.8
2.67
2.68
2017
 
319,506,471
1.060
301,466,703
440.6
2.98
2.68
2018
 
334,997,096
1.082
309,497,590
452.3
2.66
2.68
2019
 
351,655,768
1.099
320,120,680
467.8
3.43
2.69
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 2020
REAP_PI_CA1400_1200_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Total Industry Earnings, 1969-2019
 
1969
 
653,665,000
0.200
3,265,875,593
100.0
N
1970
 
693,352,000
0.210
3,309,398,119
101.3
1.33
1971
 
742,094,000
0.218
3,397,710,728
104.0
2.67
1972
 
819,646,000
0.226
3,629,000,266
111.1
6.81
1973
 
918,964,000
0.238
3,860,868,835
118.2
6.39
1974
 
993,909,000
0.263
3,781,997,717
115.8
-2.04
1975
 
1,059,492,000
0.285
3,721,433,088
113.9
-1.60
1976
 
1,173,271,000
0.300
3,906,736,148
119.6
4.98
1977
 
1,303,767,000
0.320
4,076,055,149
124.8
4.33
1978
 
1,476,080,000
0.342
4,314,635,644
132.1
5.85
1979
 
1,648,363,000
0.373
4,425,016,778
135.5
2.56
1980
 
1,784,597,000
0.413
4,325,037,565
132.4
-2.26
1981
 
1,961,173,000
0.450
4,362,233,640
133.6
0.86
1982
 
2,053,729,000
0.475
4,327,648,769
132.5
-0.79
1983
 
2,188,018,000
0.495
4,422,561,345
135.4
2.19
1984
 
2,432,402,000
0.513
4,737,553,318
145.1
7.12
1985
 
2,615,791,000
0.531
4,923,007,867
150.7
3.91
1986
 
2,786,901,000
0.543
5,133,359,735
157.2
4.27
1987
 
2,996,000,000
0.560
5,353,441,498
163.9
4.29
1988
 
3,259,979,000
0.582
5,606,058,365
171.7
4.72
1989
 
3,467,027,000
0.607
5,712,682,485
174.9
1.90
1990
 
3,679,460,000
0.634
5,807,686,844
177.8
1.66
1991
 
3,789,428,000
0.655
5,787,772,059
177.2
-0.34
1992
 
4,059,023,000
0.672
6,038,595,317
184.9
4.33
1993
 
4,237,437,000
0.689
6,150,840,446
188.3
1.86
1994
 
4,456,948,000
0.703
6,337,193,232
194.0
3.03
1995
 
4,674,849,000
0.718
6,509,934,411
199.3
2.73
1996
 
4,956,180,000
0.733
6,757,260,110
206.9
3.80
1997
 
5,288,047,000
0.746
7,086,350,053
217.0
4.87
1998
 
5,707,014,000
0.752
7,587,500,000
232.3
7.07
1999
 
6,098,042,000
0.763
7,988,212,948
244.6
5.28
2000
 
6,598,743,000
0.782
8,434,515,243
258.3
5.59
2001
 
6,865,291,000
0.797
8,609,810,881
263.6
2.08
2002
 
7,001,130,000
0.808
8,665,944,621
265.3
0.65
2003
 
7,243,665,000
0.824
8,795,338,644
269.3
1.49
2004
 
7,675,133,000
0.844
9,092,574,428
278.4
3.38
2005
 
8,039,648,000
0.868
9,260,986,960
283.6
1.85
2006
 
8,519,777,000
0.892
9,554,104,335
292.5
3.17
2007
 
8,866,784,000
0.914
9,697,044,992
296.9
1.50
2008
 
9,013,458,000
0.942
9,570,458,696
293.0
-1.31
2009
 
8,688,446,000
0.941
9,233,793,866
282.7
-3.52
2010
 
9,023,198,000
0.957
9,428,136,461
288.7
2.10
2011
 
9,443,528,000
0.981
9,623,389,143
294.7
2.07
2012
 
9,901,882,000
1.000
9,901,882,000
303.2
2.89
2013
 
10,231,478,000
1.013
10,095,591,341
309.1
1.96
2014
 
10,687,445,000
1.028
10,393,314,208
318.2
2.95
2015
 
11,114,594,000
1.030
10,786,364,916
330.3
3.78
2016
 
11,379,601,000
1.041
10,929,208,325
334.6
1.32
2017
 
11,920,279,000
1.060
11,247,243,924
344.4
2.91
2018
 
12,523,102,000
1.082
11,569,861,141
354.3
2.87
2019
 
13,080,565,000
1.099
11,907,552,048
364.6
2.92
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 2020
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2021. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

Please stay tuned...
while your request is processing:

Please wait while your request is being processed...
To offer the most comprehensive set of interactive options in support of your research, NC-REAP calculates and crunches most of the data and generates the narrative and graphic analysis on demand in response to your request.
Your request will soon be available.
Just a few more seconds....Your request has been generated and is now loading the results.