Pitt County vs. North Carolina
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2018
Introduction
Pitt County:
2018 Earnings = $5,230,616K
2018 Percent of State = 1.6%
North Carolina:
2018 Earnings = $333,559,983K
2018 Percent of State = 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.
Pitt County Total Industry Earnings, 1970-2018
Current vs. Constant Dollars (Millions)
Pitt County Total Industry Earnings, 1970-2018
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Pitt County's annual total industry earnings over 1970-2018 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 Pitt County over time.
When measured in current dollars, Pitt County's total industry earnings increased 2,992.8%, from $169M in 1970 to $5,231M in 2018. When measured in constant 2012 dollars to adjust for inflation, it advanced 499.2%, from $807M in 1970 to $4,837M in 2018.
Real Total Industry Earnings, 1969-2018 (Millions)
Real Total Industry Earnings, 1969-2018 (Millions)
Figure 2.
Figure 2 traces Pitt County's and North Carolina's annual real total industry earnings for the period 1969-2018 to illustrate real total industry earnings patterns over time. During this 50-year period, Pitt County's real total industry earnings rose from $749M in 1969 to $4,837M in 2018, for a net gain of $4,088M, or 546.0%. In comparison, North Carolina's real total industry earnings increased from $68,426M in 1969 to $308,443M in 2018, for a net gain of $240,018M, or 350.8%.
Real Total Industry Earnings Indices (1969=100): 1969-2018
Real Total Industry Earnings Indices (1969=100): 1969-2018
Figure 3.
Figure 3 portrays Pitt 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.
Pitt County's overall real total industry earnings growth was 546.0% over 1969-2018 outpaced North Carolina's increase of 350.8%, and topped the United States' increase of 254.2%.
Total Industry Earnings as a Percent of the North Carolina Total: 1969-2018
Total Industry Earnings as a Percent of the North Carolina Total: 1969-2018
Figure 4.
Another interesting and insightful way of contrasting the total industry earnings growth of Pitt 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, Pitt County's total industry earnings comprised 1.1% of North Carolina's total industry earnings, while in 2018 it equated to 1.6% thereby yielding a +0.5% share-shift.
   
 
Total Industry Earnings Share-Shift
2018 vs. 1969
 
Share-
Shift*
 
2018
vs.
1969
+0.47%
=
1.57%
-
1.09%
 
   
Pitt County Real Total Industry Earnings:
Annual Percent Change, 1970-2018
Pitt County Real Total Industry Earnings:
Annual Percent Change, 1970-2018
Figure 5.
Figure 5 shows the short-run pattern of Pitt County's real total industry earnings growth by tracking the year-to-year percent change over 1970-2018. The average annual percent change for the entire 49-year period is also traced 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, Pitt County's real total industry earnings grew at an annual rate of 3.94% over 1970-2018. The county recorded its highest growth in 1984 (13.37%) and recorded its lowest growth in 1979 (-3.85%). In 2018, Pitt County's real total industry earnings grew by 1.11%
Pitt County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2018
Pitt County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2018
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 Pitt County's real total industry earnings since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, and 2010-2018.
During the 1970s, Pitt County's annual real total industry earnings growth rate averaged 4.97%. It averaged 5.56% during the 1980s, 4.34% throughout the 1990s, 2.55% throughout the 2000s, and 2.11% thus far this decade (2010 to 2018).
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 Pitt County noted in the previous graph with the corresponding decade averages for North Carolina and the nation. As the chart reveals, Pitt County's average annual real total industry earnings growth outpaced North Carolina's average in the 1970s (4.97% vs. 3.59%), registered above North Carolina's average throughout the 1980s (5.56% vs. 3.90%), outperformed North Carolina's average throughout the 1990s (4.34% vs. 4.07%), topped North Carolina's average in the 2000s (2.55% vs. 2.17%), and outgained North Carolina's average over the 9 year period of the last decade, 2010-2018 (2.11% vs. 2.02%).
Finally, relative to nationwide real total industry earnings growth trends, Pitt County outperformed the nation throughout the 1970s (4.97% vs. 3.13%), surpassed the nation during the 1980s (5.56% vs. 2.62%), outperformed the nation throughout the 1990s (4.34% vs. 3.43%), outperformed the nation throughout the 2000s (2.55% vs. 1.49%), and fell below the nation over 2010-2018 (2.11% vs. 2.54%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.94
4.97
5.56
4.34
2.55
2.11
1.11
 
3.17
3.59
3.90
4.07
2.17
2.02
2.78
 
2.64
3.13
2.62
3.43
1.49
2.54
2.80
 
   

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

   
 
Pitt County:
Total Industry Earnings, 1969-2018
 
1969
 
149,851
0.200
748,693
100.0
N
1.09
1970
 
169,121
0.210
807,222
107.8
7.82
1.15
1971
 
183,431
0.218
839,847
112.2
4.04
1.15
1972
 
205,615
0.226
910,365
121.6
8.40
1.13
1973
 
242,521
0.238
1,018,910
136.1
11.92
1.17
1974
 
269,172
0.263
1,024,247
136.8
0.52
1.20
1975
 
305,698
0.285
1,073,755
143.4
4.83
1.31
1976
 
347,834
0.300
1,158,211
154.7
7.87
1.33
1977
 
358,598
0.320
1,121,109
149.7
-3.20
1.25
1978
 
426,998
0.342
1,248,131
166.7
11.33
1.31
1979
 
447,029
0.373
1,200,046
160.3
-3.85
1.24
1980
 
503,357
0.413
1,219,905
162.9
1.65
1.28
1981
 
560,494
0.450
1,246,706
166.5
2.20
1.29
1982
 
608,545
0.475
1,282,335
171.3
2.86
1.33
1983
 
650,488
0.495
1,314,808
175.6
2.53
1.30
1984
 
765,289
0.513
1,490,542
199.1
13.37
1.35
1985
 
816,282
0.531
1,536,271
205.2
3.07
1.33
1986
 
892,607
0.543
1,644,146
219.6
7.02
1.34
1987
 
984,965
0.560
1,759,997
235.1
7.05
1.35
1988
 
1,106,377
0.582
1,902,593
254.1
8.10
1.39
1989
 
1,243,745
0.607
2,049,341
273.7
7.71
1.45
1990
 
1,377,370
0.634
2,174,051
290.4
6.09
1.52
1991
 
1,427,585
0.655
2,180,418
291.2
0.29
1.52
1992
 
1,543,061
0.672
2,295,607
306.6
5.28
1.50
1993
 
1,660,519
0.689
2,410,322
321.9
5.00
1.52
1994
 
1,783,050
0.703
2,535,262
338.6
5.18
1.53
1995
 
1,875,857
0.718
2,612,214
348.9
3.04
1.52
1996
 
2,003,111
0.733
2,731,043
364.8
4.55
1.53
1997
 
2,160,751
0.746
2,895,556
386.7
6.02
1.54
1998
 
2,232,568
0.752
2,968,209
396.5
2.51
1.48
1999
 
2,390,115
0.763
3,130,964
418.2
5.48
1.49
2000
 
2,614,191
0.782
3,341,460
446.3
6.72
1.53
2001
 
2,699,168
0.797
3,385,046
452.1
1.30
1.55
2002
 
2,768,697
0.808
3,427,072
457.7
1.24
1.57
2003
 
2,860,237
0.824
3,472,932
463.9
1.34
1.56
2004
 
3,007,605
0.844
3,563,049
475.9
2.59
1.52
2005
 
3,220,140
0.868
3,709,326
495.4
4.11
1.52
2006
 
3,478,859
0.892
3,901,203
521.1
5.17
1.52
2007
 
3,720,751
0.914
4,069,152
543.5
4.31
1.52
2008
 
3,842,511
0.942
4,079,965
544.9
0.27
1.49
2009
 
3,778,304
0.941
4,015,457
536.3
-1.58
1.55
2010
 
3,958,530
0.957
4,136,179
552.5
3.01
1.62
2011
 
3,996,233
0.981
4,072,345
543.9
-1.54
1.61
2012
 
4,338,556
1.000
4,338,556
579.5
6.54
1.62
2013
 
4,441,656
1.013
4,382,665
585.4
1.02
1.67
2014
 
4,595,734
1.028
4,469,254
596.9
1.98
1.64
2015
 
4,743,426
1.030
4,603,257
614.8
3.00
1.61
2016
 
4,864,473
1.041
4,673,289
624.2
1.52
1.60
2017
 
5,067,042
1.059
4,783,432
638.9
2.36
1.59
2018
 
5,230,616
1.081
4,836,759
646.0
1.11
1.57
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 2019
REAP_PI_CA1400_1200_PSN
 
   

Tip: 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, 1969-2018
 
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
 
293,911,001
1.030
285,225,873
416.8
4.51
2.65
2016
 
303,689,403
1.041
291,753,757
426.4
2.29
2.67
2017
 
317,893,541
1.059
300,100,578
438.6
2.86
2.67
2018
 
333,559,983
1.081
308,443,434
450.8
2.78
2.67
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 2019
REAP_PI_CA1400_1200_PSN
 
   

Tip: 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, 1969-2018
 
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
 
11,111,139,000
1.030
10,782,802,659
330.2
3.75
2016
 
11,374,304,000
1.041
10,927,269,408
334.6
1.34
2017
 
11,921,152,000
1.059
11,253,907,806
344.6
2.99
2018
 
12,510,655,000
1.081
11,568,622,102
354.2
2.80
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 2019
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2020. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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