Rowan County vs. North Carolina
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2018
Introduction
Rowan County:
2018 Earnings = $3,219,435K
2018 Percent of State = 1.0%
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.
Rowan County Total Industry Earnings, 1969-2018
Current vs. Constant Dollars (Millions)
Rowan County Total Industry Earnings, 1969-2018
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Rowan County's annual total industry earnings over 1969-2018 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 Rowan County over time.
When measured in current dollars, Rowan County's total industry earnings increased 1,477.3%, from $204M in 1969 to $3,219M in 2018. When measured in constant 2012 dollars to adjust for inflation, it advanced 191.9%, from $1,020M in 1969 to $2,977M in 2018.
Real Total Industry Earnings, 1969-2018 (Millions)
Real Total Industry Earnings, 1969-2018 (Millions)
Figure 2.
Figure 2 tracks Rowan 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, Rowan County's real total industry earnings rose from $1,020M in 1969 to $2,977M in 2018, for a net gain of $1,957M, or 191.9%. In comparison, North Carolina's real total industry earnings advanced 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 Rowan 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.
Rowan County's overall real total industry earnings growth was 191.9% over 1969-2018 trailed North Carolina's increase of 350.8%, and fell below 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 comparing the total industry earnings growth of Rowan County is to trace 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, Rowan County's total industry earnings totaled 1.49% of North Carolina's total industry earnings, while in 2018 it equated to 0.97% thereby yielding a -0.53% share-shift.
   
 
Total Industry Earnings Share-Shift
2018 vs. 1969
 
Share-
Shift*
 
2018
vs.
1969
-0.53%
=
0.97%
-
1.49%
 
   
Rowan County Real Total Industry Earnings:
Annual Percent Change, 1970-2018
Rowan County Real Total Industry Earnings:
Annual Percent Change, 1970-2018
Figure 5.
Figure 5 displays the short-run pattern of Rowan 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, Rowan County's real total industry earnings grew at an annual rate of 2.27% over 1970-2018. The county posted its highest growth in 1984 (9.55%) and posted its lowest growth in 2010 (-4.11%). In 2018, Rowan County's real total industry earnings grew by 2.37%
Rowan County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2018
Rowan 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 traces the annual percent change in Rowan 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 2010-2018.
During the 1970s, Rowan County's annual real total industry earnings growth rate averaged 3.14%. It averaged 2.57% during the 1980s, 3.56% during the 1990s, 0.91% throughout the 2000s, and 1.02% 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 Rowan County noted in the previous graph with the corresponding decade averages for North Carolina and the nation. As the chart reveals, Rowan County's average annual real total industry earnings growth amounted to less than North Carolina's average throughout the 1970s (3.14% vs. 3.59%), lagged North Carolina's average in the 1980s (2.57% vs. 3.90%), trailed North Carolina's average throughout the 1990s (3.56% vs. 4.07%), trailed North Carolina's average in the 2000s (0.91% vs. 2.17%), and posted below North Carolina's average over the 9 year period of the last decade, 2010-2018 (1.02% vs. 2.02%).
Finally, relative to nationwide real total industry earnings growth trends, Rowan County outgained the nation in the 1970s (3.14% vs. 3.13%), fell under the nation over the 1980s (2.57% vs. 2.62%), outgained the nation throughout the 1990s (3.56% vs. 3.43%), fell below the nation throughout the 2000s (0.91% vs. 1.49%), and recorded underneath the nation over 2010-2018 (1.02% vs. 2.54%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.27
3.14
2.57
3.56
0.91
1.02
2.37
 
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.

   
 
Rowan County:
Total Industry Earnings, 1969-2018
 
1969
 
204,108
0.200
1,019,775
100.0
N
1.49
1970
 
215,315
0.210
1,027,708
100.8
0.78
1.47
1971
 
236,151
0.218
1,081,228
106.0
5.21
1.48
1972
 
266,176
0.226
1,178,500
115.6
9.00
1.47
1973
 
293,033
0.238
1,231,128
120.7
4.47
1.42
1974
 
311,590
0.263
1,185,654
116.3
-3.69
1.39
1975
 
328,582
0.285
1,154,134
113.2
-2.66
1.41
1976
 
369,356
0.300
1,229,875
120.6
6.56
1.41
1977
 
407,589
0.320
1,274,273
125.0
3.61
1.42
1978
 
456,269
0.342
1,333,691
130.8
4.66
1.40
1979
 
514,085
0.373
1,380,057
135.3
3.48
1.43
1980
 
565,753
0.413
1,371,124
134.5
-0.65
1.44
1981
 
616,550
0.450
1,371,391
134.5
0.02
1.42
1982
 
626,883
0.475
1,320,977
129.5
-3.68
1.38
1983
 
691,976
0.495
1,398,666
137.2
5.88
1.39
1984
 
786,729
0.513
1,532,300
150.3
9.55
1.39
1985
 
825,402
0.531
1,553,435
152.3
1.38
1.34
1986
 
869,299
0.543
1,601,214
157.0
3.08
1.30
1987
 
911,359
0.560
1,628,474
159.7
1.70
1.25
1988
 
994,378
0.582
1,709,993
167.7
5.01
1.25
1989
 
1,073,068
0.607
1,768,113
173.4
3.40
1.25
1990
 
1,127,765
0.634
1,780,073
174.6
0.68
1.25
1991
 
1,131,992
0.655
1,728,945
169.5
-2.87
1.21
1992
 
1,226,964
0.672
1,825,350
179.0
5.58
1.20
1993
 
1,314,607
0.689
1,908,214
187.1
4.54
1.21
1994
 
1,413,536
0.703
2,009,862
197.1
5.33
1.22
1995
 
1,495,161
0.718
2,082,078
204.2
3.59
1.21
1996
 
1,550,251
0.733
2,113,614
207.3
1.51
1.19
1997
 
1,640,125
0.746
2,197,881
215.5
3.99
1.17
1998
 
1,756,100
0.752
2,334,743
228.9
6.23
1.17
1999
 
1,907,406
0.763
2,498,632
245.0
7.02
1.19
2000
 
1,971,623
0.782
2,520,129
247.1
0.86
1.16
2001
 
2,064,754
0.797
2,589,423
253.9
2.75
1.19
2002
 
2,160,488
0.808
2,674,235
262.2
3.28
1.23
2003
 
2,197,525
0.824
2,668,259
261.7
-0.22
1.20
2004
 
2,335,321
0.844
2,766,607
271.3
3.69
1.18
2005
 
2,465,041
0.868
2,839,516
278.4
2.64
1.17
2006
 
2,612,665
0.892
2,929,851
287.3
3.18
1.14
2007
 
2,618,808
0.914
2,864,026
280.8
-2.25
1.07
2008
 
2,676,736
0.942
2,842,149
278.7
-0.76
1.04
2009
 
2,566,320
0.941
2,727,400
267.5
-4.04
1.06
2010
 
2,503,032
0.957
2,615,362
256.5
-4.11
1.03
2011
 
2,550,727
0.981
2,599,308
254.9
-0.61
1.03
2012
 
2,648,101
1.000
2,648,101
259.7
1.88
0.99
2013
 
2,607,996
1.013
2,573,359
252.3
-2.82
0.98
2014
 
2,750,277
1.028
2,674,586
262.3
3.93
0.98
2015
 
2,933,125
1.030
2,846,451
279.1
6.43
1.00
2016
 
2,983,714
1.041
2,866,448
281.1
0.70
0.98
2017
 
3,080,401
1.059
2,907,986
285.2
1.45
0.97
2018
 
3,219,435
1.081
2,977,017
291.9
2.37
0.97
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 © 2019. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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