Washington County vs. North Carolina
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2019
Introduction
Washington County vs. North Carolina
Washington County:
2019 TPI = $434,025K
2019 Percent of State = 0.1%
North Carolina:
2019 TPI = $500,973,833K
2019 Percent of U.S. = 2.7%
The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing county patterns of economic growth and change.
The following graphs highlight trends in the pattern of growth and change in the total personal income of Washington County and North Carolina with comparison to the nation. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2012 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption.
Data Definition:
Personal income is the income received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters.
Washington County Total Personal Income, 1970-2019
Current vs. Constant Dollars (Millions)
Washington County Total Personal Income, 1970-2019
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Washington County's annual total personal income 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 Washington County over time.
When measured in current dollars, Washington County's total personal income increased 997.4%, from $40M in 1970 to $434M in 2019. When measured in constant 2012 dollars to adjust for inflation, it advanced 109.3%, from $189M in 1970 to $395M in 2019.
Real Total Personal Income, 1969-2019 (Millions)
Real Total Personal Income, 1969-2019 (Millions)
Figure 2.
Figure 2 traces Washington County's and North Carolina's annual real total personal income for the period 1969-2019 to illustrate real total personal income patterns over time. During this 51-year period, Washington County's real total personal income rose from $172M in 1969 to $395M in 2019, for a net gain of $223M, or 129.8%. In comparison, North Carolina's real total personal income increased from $79,231M in 1969 to $456,048M in 2019, for a net gain of $376,817M, or 475.6%.
Real Total Personal Income Indices (1969=100): 1969-2019
Real Total Personal Income Indices (1969=100): 1969-2019
Figure 3.
Figure 3 portrays Washington County's real total personal income 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 personal income in 1969 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size.
Washington County's overall real total personal income growth was 129.8% over 1969-2019 trailed North Carolina's increase of 475.6%, and fell below the United States' increase of 327.0%.
Total Personal Income as a Percent of the North Carolina Total: 1969-2019
Total Personal Income as a Percent of the North Carolina Total: 1969-2019
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of Washington County is to compare its individual percentage contributions to North Carolina's statewide total personal income over time, as shown in Figure 4. A rising share means a region's total personal income grew faster, or declined less, than North Carolina's total personal income, while a declining share shows it grew more slowly.
In 1969, Washington County's total personal income comprised 0.22% of North Carolina's total personal income, while in 2019 it equated to 0.09% thereby yielding a -0.13% share-shift.
   
 
Total Personal Income Share-Shift
2019 vs. 1969
 
Share-
Shift*
 
2019
vs.
1969
-0.13%
=
0.09%
-
0.22%
 
   
Washington County Real Total Personal Income:
Annual Percent Change, 1970-2019
Washington County Real Total Personal Income:
Annual Percent Change, 1970-2019
Figure 5.
Figure 5 shows the short-run pattern of Washington County's real total personal income 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, Washington County's real total personal income grew at an annual rate of 1.79% over 1970-2019. The county recorded its highest growth in 1972 (15.90%) and posted its lowest growth in 1971 (-9.33%). In 2019, Washington County's real total personal income grew by 2.24%
Washington County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2019
Washington County Real Total Personal Income:
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 Washington County's real total personal income since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, and 2010-2019.
During the 1970s, Washington County's annual real total personal income growth rate averaged 3.99%. It averaged 2.25% during the 1980s, 1.73% during the 1990s, 1.73% throughout the 2000s, and -0.77% thus far this decade (2010 to 2019).
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Washington County noted in the previous graph with the corresponding decade averages for North Carolina and the nation. As the chart reveals, Washington County's average annual real total personal income growth lagged North Carolina's average throughout the 1970s (3.99% vs. 4.09%), posted below North Carolina's average throughout the 1980s (2.25% vs. 4.39%), amounted to less than North Carolina's average in the 1990s (1.73% vs. 4.24%), lagged North Carolina's average in the 2000s (1.73% vs. 2.81%), and trailed North Carolina's average over the 10 year period of the last decade, 2010-2019 (-0.77% vs. 2.43%).
Finally, relative to nationwide real total personal income growth trends, Washington County outpaced the nation throughout the 1970s (3.99% vs. 3.50%), trailed the nation over the 1980s (2.25% vs. 3.17%), lagged the nation during the 1990s (1.73% vs. 3.29%), posted below the nation during the 2000s (1.73% vs. 2.05%), and trailed the nation over 2010-2019 (-0.77% vs. 2.81%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
1.79
3.99
2.25
1.73
1.73
-0.77
2.24
 
3.59
4.09
4.39
4.24
2.81
2.43
2.88
 
2.96
3.50
3.17
3.29
2.05
2.81
2.42
 
   

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

   
 
Washington County:
Total Personal Income, 1969-2019
 
1969
 
34,418
0.200
171,961
100.0
N
0.22
1970
 
39,549
0.210
188,769
109.8
9.77
0.23
1971
 
37,383
0.218
171,160
99.5
-9.33
0.20
1972
 
44,805
0.226
198,375
115.4
15.90
0.21
1973
 
54,426
0.238
228,661
133.0
15.27
0.23
1974
 
62,020
0.263
235,997
137.2
3.21
0.23
1975
 
67,674
0.285
237,703
138.2
0.72
0.23
1976
 
75,304
0.300
250,746
145.8
5.49
0.23
1977
 
80,393
0.320
251,338
146.2
0.24
0.23
1978
 
86,924
0.342
254,082
147.8
1.09
0.22
1979
 
92,329
0.373
247,856
144.1
-2.45
0.21
1980
 
98,772
0.413
239,378
139.2
-3.42
0.20
1981
 
105,547
0.450
234,768
136.5
-1.93
0.19
1982
 
111,274
0.475
234,478
136.4
-0.12
0.19
1983
 
113,541
0.495
229,496
133.5
-2.12
0.18
1984
 
134,057
0.513
261,101
151.8
13.77
0.18
1985
 
136,093
0.531
256,132
148.9
-1.90
0.17
1986
 
148,420
0.543
273,384
159.0
6.74
0.17
1987
 
158,012
0.560
282,346
164.2
3.28
0.17
1988
 
179,285
0.582
308,309
179.3
9.20
0.18
1989
 
185,319
0.607
305,353
177.6
-0.96
0.17
1990
 
193,260
0.634
305,043
177.4
-0.10
0.17
1991
 
208,038
0.655
317,746
184.8
4.16
0.17
1992
 
223,507
0.672
332,511
193.4
4.65
0.17
1993
 
233,746
0.689
339,293
197.3
2.04
0.17
1994
 
245,296
0.703
348,779
202.8
2.80
0.16
1995
 
249,027
0.718
346,781
201.7
-0.57
0.15
1996
 
258,153
0.733
351,966
204.7
1.50
0.15
1997
 
271,624
0.746
363,995
211.7
3.42
0.15
1998
 
268,314
0.752
356,725
207.4
-2.00
0.13
1999
 
276,246
0.763
361,872
210.4
1.44
0.13
2000
 
297,077
0.782
379,724
220.8
4.93
0.13
2001
 
311,330
0.797
390,441
227.1
2.82
0.14
2002
 
307,382
0.808
380,475
221.3
-2.55
0.13
2003
 
324,420
0.824
393,914
229.1
3.53
0.13
2004
 
348,833
0.844
413,255
240.3
4.91
0.13
2005
 
354,485
0.868
408,336
237.5
-1.19
0.13
2006
 
367,027
0.892
411,585
239.3
0.80
0.12
2007
 
385,367
0.914
421,452
245.1
2.40
0.12
2008
 
402,044
0.942
426,889
248.2
1.29
0.11
2009
 
403,049
0.941
428,347
249.1
0.34
0.12
2010
 
398,737
0.957
416,631
242.3
-2.74
0.12
2011
 
389,242
0.981
396,655
230.7
-4.79
0.11
2012
 
412,463
1.000
412,463
239.9
3.99
0.11
2013
 
404,201
1.013
398,833
231.9
-3.30
0.11
2014
 
398,813
1.028
387,837
225.5
-2.76
0.10
2015
 
399,639
1.030
387,837
225.5
0.00
0.10
2016
 
402,110
1.041
386,195
224.6
-0.42
0.09
2017
 
410,998
1.060
387,792
225.5
0.41
0.09
2018
 
418,283
1.082
386,444
224.7
-0.35
0.09
2019
 
434,025
1.099
395,103
229.8
2.24
0.09
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_300_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 Personal Income, 1969-2019
 
1969
 
15,858,142
0.200
79,231,287
100.0
N
2.00
1970
 
17,320,423
0.210
82,671,104
104.3
4.34
2.02
1971
 
18,856,792
0.218
86,336,670
109.0
4.43
2.04
1972
 
21,319,016
0.226
94,390,401
119.1
9.33
2.10
1973
 
24,174,505
0.238
101,565,016
128.2
7.60
2.13
1974
 
26,653,856
0.263
101,422,588
128.0
-0.14
2.14
1975
 
28,942,763
0.285
101,660,566
128.3
0.23
2.12
1976
 
32,132,322
0.300
106,993,613
135.0
5.25
2.15
1977
 
35,208,099
0.320
110,073,467
138.9
2.88
2.13
1978
 
39,736,164
0.342
116,150,256
146.6
5.52
2.14
1979
 
43,908,313
0.373
117,871,501
148.8
1.48
2.12
1980
 
49,246,957
0.413
119,351,842
150.6
1.26
2.13
1981
 
55,496,710
0.450
123,441,234
155.8
3.43
2.14
1982
 
59,420,072
0.475
125,210,873
158.0
1.43
2.14
1983
 
64,644,452
0.495
130,663,484
164.9
4.35
2.18
1984
 
73,126,172
0.513
142,426,761
179.8
9.00
2.23
1985
 
79,020,157
0.531
148,718,630
187.7
4.42
2.25
1986
 
85,194,512
0.543
156,924,870
198.1
5.52
2.29
1987
 
91,884,496
0.560
164,185,005
207.2
4.63
2.33
1988
 
100,589,475
0.582
172,979,785
218.3
5.36
2.36
1989
 
109,693,130
0.607
180,743,335
228.1
4.49
2.38
1990
 
116,522,487
0.634
183,919,954
232.1
1.76
2.38
1991
 
121,893,315
0.655
186,173,407
235.0
1.23
2.41
1992
 
132,674,908
0.672
197,380,029
249.1
6.02
2.45
1993
 
141,458,338
0.689
205,333,476
259.2
4.03
2.50
1994
 
150,582,582
0.703
214,108,605
270.2
4.27
2.54
1995
 
161,486,709
0.718
224,877,399
283.8
5.03
2.57
1996
 
172,816,700
0.733
235,618,439
297.4
4.78
2.59
1997
 
185,687,858
0.746
248,834,619
314.1
5.61
2.62
1998
 
198,775,179
0.752
264,272,467
333.5
6.20
2.61
1999
 
208,769,698
0.763
273,480,702
345.2
3.48
2.61
2000
 
222,564,907
0.782
284,482,530
359.1
4.02
2.57
2001
 
228,879,962
0.797
287,040,009
362.3
0.90
2.54
2002
 
232,267,281
0.808
287,498,646
362.9
0.16
2.54
2003
 
241,625,829
0.824
293,384,770
370.3
2.05
2.55
2004
 
261,640,155
0.844
309,959,786
391.2
5.65
2.61
2005
 
281,033,775
0.868
323,726,875
408.6
4.44
2.65
2006
 
306,078,047
0.892
343,236,871
433.2
6.03
2.69
2007
 
329,509,436
0.914
360,363,783
454.8
4.99
2.75
2008
 
350,848,256
0.942
372,529,471
470.2
3.38
2.82
2009
 
338,315,713
0.941
359,550,782
453.8
-3.48
2.81
2010
 
341,627,602
0.957
356,958,991
450.5
-0.72
2.72
2011
 
355,052,267
0.981
361,814,582
456.7
1.36
2.67
2012
 
379,925,288
1.000
379,925,288
479.5
5.01
2.71
2013
 
376,023,938
1.013
371,029,876
468.3
-2.34
2.65
2014
 
397,995,957
1.028
387,042,650
488.5
4.32
2.66
2015
 
419,717,441
1.030
407,322,614
514.1
5.24
2.67
2016
 
434,788,999
1.041
417,580,506
527.0
2.52
2.69
2017
 
455,997,111
1.060
430,250,897
543.0
3.03
2.69
2018
 
479,791,844
1.082
443,270,766
559.5
3.03
2.69
2019
 
500,973,833
1.099
456,048,496
575.6
2.88
2.70
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_300_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 Personal Income, 1969-2019
 
1969
 
791,229,000
0.200
3,953,180,115
100.0
N
1970
 
855,525,000
0.210
4,083,456,637
103.3
3.30
1971
 
924,613,000
0.218
4,233,382,171
107.1
3.67
1972
 
1,016,408,000
0.226
4,500,168,246
113.8
6.30
1973
 
1,133,468,000
0.238
4,762,070,414
120.5
5.82
1974
 
1,244,912,000
0.263
4,737,108,067
119.8
-0.52
1975
 
1,362,505,000
0.285
4,785,756,937
121.1
1.03
1976
 
1,495,704,000
0.300
4,980,367,608
126.0
4.07
1977
 
1,651,632,000
0.320
5,163,609,079
130.6
3.68
1978
 
1,855,849,000
0.342
5,424,714,273
137.2
5.06
1979
 
2,073,257,000
0.373
5,565,641,191
140.8
2.60
1980
 
2,313,160,000
0.413
5,606,029,761
141.8
0.73
1981
 
2,592,915,000
0.450
5,767,416,255
145.9
2.88
1982
 
2,779,794,000
0.475
5,857,623,904
148.2
1.56
1983
 
2,968,676,000
0.495
6,000,477,018
151.8
2.44
1984
 
3,279,488,000
0.513
6,387,410,163
161.6
6.45
1985
 
3,510,471,000
0.531
6,606,826,138
167.1
3.44
1986
 
3,719,647,000
0.543
6,851,440,413
173.3
3.70
1987
 
3,946,593,000
0.560
7,052,020,942
178.4
2.93
1988
 
4,267,813,000
0.582
7,339,191,072
185.7
4.07
1989
 
4,609,667,000
0.607
7,595,430,878
192.1
3.49
1990
 
4,897,821,000
0.634
7,730,756,846
195.6
1.78
1991
 
5,067,291,000
0.655
7,739,512,471
195.8
0.11
1992
 
5,409,920,000
0.672
8,048,320,390
203.6
3.99
1993
 
5,648,732,000
0.689
8,199,401,963
207.4
1.88
1994
 
5,940,128,000
0.703
8,446,079,909
213.7
3.01
1995
 
6,286,143,000
0.718
8,753,732,715
221.4
3.64
1996
 
6,673,186,000
0.733
9,098,227,579
230.1
3.94
1997
 
7,086,935,000
0.746
9,496,984,844
240.2
4.38
1998
 
7,601,594,000
0.752
10,106,352,372
255.7
6.42
1999
 
8,001,563,000
0.763
10,481,756,137
265.1
3.71
2000
 
8,650,325,000
0.782
11,056,847,958
279.7
5.49
2001
 
9,001,839,000
0.797
11,289,271,113
285.6
2.10
2002
 
9,155,663,000
0.808
11,332,808,922
286.7
0.39
2003
 
9,480,901,000
0.824
11,511,815,488
291.2
1.58
2004
 
10,028,781,000
0.844
11,880,893,485
300.5
3.21
2005
 
10,593,946,000
0.868
12,203,319,818
308.7
2.71
2006
 
11,372,589,000
0.892
12,753,256,555
322.6
4.51
2007
 
12,002,204,000
0.914
13,126,057,000
332.0
2.92
2008
 
12,438,527,000
0.942
13,207,185,177
334.1
0.62
2009
 
12,051,307,000
0.941
12,807,731,630
324.0
-3.02
2010
 
12,541,995,000
0.957
13,104,848,232
331.5
2.32
2011
 
13,315,478,000
0.981
13,569,084,183
343.2
3.54
2012
 
13,998,383,000
1.000
13,998,383,000
354.1
3.16
2013
 
14,175,503,000
1.013
13,987,234,819
353.8
-0.08
2014
 
14,982,715,000
1.028
14,570,373,432
368.6
4.17
2015
 
15,717,140,000
1.030
15,252,991,470
385.8
4.68
2016
 
16,151,881,000
1.041
15,512,606,487
392.4
1.70
2017
 
16,937,582,000
1.060
15,981,263,210
404.3
3.02
2018
 
17,839,255,000
1.082
16,481,356,073
416.9
3.13
2019
 
18,542,262,000
1.099
16,879,465,822
427.0
2.42
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_300_PN
 
   
Copyright © 2021. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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