Pitt County vs. North Carolina
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2019
Introduction
Pitt County:
2019 Earnings = $5,607,087K
2019 Percent of State = 1.6%
North Carolina:
2019 Earnings = $351,655,768K
2019 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, 1970-2019
Current vs. Constant Dollars (Millions)
Pitt County Total Industry Earnings, 1970-2019
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Pitt 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 Pitt County over time.
When measured in current dollars, Pitt County's total industry earnings increased 3,215.4%, from $169M in 1970 to $5,607M in 2019. When measured in constant 2012 dollars to adjust for inflation, it advanced 532.3%, from $807M in 1970 to $5,104M in 2019.
Real Total Industry Earnings, 1969-2019 (Millions)
Real Total Industry Earnings, 1969-2019 (Millions)
Figure 2.
Figure 2 traces Pitt 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, Pitt County's real total industry earnings rose from $749M in 1969 to $5,104M in 2019, for a net gain of $4,356M, or 581.8%. In comparison, North Carolina's real total industry earnings advanced from $68,426M in 1969 to $320,121M in 2019, for a net gain 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 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 581.8% over 1969-2019 outpaced North Carolina's increase of 367.8%, and outpaced 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 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 2019 it equated to 1.6% thereby yielding a +0.5% share-shift.
   
 
Total Industry Earnings Share-Shift
2019 vs. 1969
 
Share-
Shift*
 
2019
vs.
1969
+0.50%
=
1.59%
-
1.09%
 
   
Pitt County Real Total Industry Earnings:
Annual Percent Change, 1970-2019
Pitt County Real Total Industry Earnings:
Annual Percent Change, 1970-2019
Figure 5.
Figure 5 displays the short-run pattern of Pitt 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 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 3.97% over 1970-2019. The county posted its highest growth in 1984 (13.37%) and recorded its lowest growth in 1979 (-3.85%). In 2019, Pitt County's real total industry earnings grew by 3.16%
Pitt County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2019
Pitt 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 depicts the annual percent change in Pitt 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, Pitt County's annual real total industry earnings growth rate averaged 4.97%. It averaged 5.56% throughout the 1980s, 4.34% throughout the 1990s, 2.55% in the 2000s, and 2.45% 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 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 exceeded North Carolina's average during the 1970s (4.97% vs. 3.59%), outgained North Carolina's average throughout the 1980s (5.56% vs. 3.90%), topped North Carolina's average during the 1990s (4.34% vs. 4.07%), recorded above North Carolina's average throughout the 2000s (2.55% vs. 2.17%), and recorded above North Carolina's average over the 10 year period of the last decade, 2010-2019 (2.45% vs. 2.19%).
Finally, relative to nationwide real total industry earnings growth trends, Pitt County exceeded the nation during the 1970s (4.97% vs. 3.13%), topped the nation in the 1980s (5.56% vs. 2.62%), registered above the nation in the 1990s (4.34% vs. 3.43%), outperformed the nation in the 2000s (2.55% vs. 1.49%), and fell under the nation over 2010-2019 (2.45% vs. 2.58%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.97
4.97
5.56
4.34
2.55
2.45
3.16
 
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
 
   

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, 1969-2019
 
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
 
4,419,840
1.013
4,361,139
582.5
0.52
1.66
2014
 
4,598,798
1.028
4,472,234
597.3
2.55
1.64
2015
 
4,741,065
1.030
4,601,055
614.5
2.88
1.61
2016
 
4,879,436
1.041
4,686,313
625.9
1.85
1.60
2017
 
5,107,770
1.060
4,819,378
643.7
2.84
1.60
2018
 
5,355,708
1.082
4,948,039
660.9
2.67
1.60
2019
 
5,607,087
1.099
5,104,266
681.8
3.16
1.59
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
 
   

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, 1969-2019
 
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
 
   

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, 1969-2019
 
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 © 2020. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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