Henry County vs. Indiana
Comparative Trends Analysis:
Average Earnings Per Job Growth and Change, 1969-2022
Introduction
Henry County vs. Indiana
Henry County:
2022 Avg. Earnings = $49,874
2022 Percent of State = 74.34%
Indiana:
2022 Avg. Earnings = $67,088
The United States economy has generated an impressive number of jobs since the 1970s. The contrast between the nation's vigorous employment growth and the modest performance of other major industrial countries is striking. Despite this rosy track record, the real (inflation adjusted) wages and salaries of many workers have stagnated or slipped in recent years. This development has provoked concerns about the quality of new jobs. Structural shifts in the composition of employment--from high-wage goods-producing to low-wage services-related sectors--is the culprit most often cited for the deteriorating quality of jobs.
Regions vary greatly in the make-up of their labor force, in their industry composition of employment, and their economic experience. Reviewing and examining recent developments in average earnings per job in Henry County with comparisons to Indiana and the nation is an important first step in understanding the economic forces at play in Henry County.
Discussion: Average Annual Earnings Per Job are computed by dividing BEA total industry earnings estimates by the BEA total full- and part-time jobs estimates. No convenient or adequate means exist at the county or regional level for converting the job estimates to a full-time equivalent measure. So, interpret the average earnings per job estimates with caution in consideration of the following issues:
Average earnings per job within industries involving more part-time work is lower than industries involving more full-time work, although there could be little difference in the underlying wage of full-time workers. Such differences could also prevail between counties and regions. An increase in the proportion of part-time jobs over time may erode average earnings per job estimates, although full-time earnings per worker may have remained unchanged.
As with per capita income, average earnings per job may be subject to extreme short-run variation, especially in smaller counties. Major construction projects relating to building dams, nuclear power plants, and private plant construction projects have caused extreme fluctuations in many smaller counties. Such changes typify both small and large agriculture-dependent counties owing to the extreme annual variations in farm incomes. Also, Since average earnings per job are just a simple average, it does not account for variations in the distribution of earnings among high- vs. low-wage jobs.
Henry County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Henry County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Henry County's annual average earnings per job over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Henry County over time.
When measured in current dollars, Henry County's average earnings per job increased 652.17%, from $6,631 in 1970 to $49,874 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 28.12%, from $33,546 in 1970 to $42,979 in 2022.
Real Average Earnings Per Job, 1969-2022
Real Average Earnings Per Job, 1969-2022
Figure 2.
Figure 2 tracks Henry County's and Indiana's annual real average earnings per job for the period 1969-2022 to illustrate real average earnings per job patterns over time. During this 54-year period, Henry County's real average earnings per job rose from $34,663 in 1969 to $42,979 in 2022, for a net gain of $8,317, or 23.99%. In comparison, Indiana's real average earnings per job advanced from $37,689 in 1969 to $57,813 in 2022, for a net advance of $20,124, or 53.39%.
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Henry County's real average earnings per job growth in a broader context by offering direct comparisons across time with Indiana, the United States. The growth indices shown here express each region's real average earnings per job in 1969 as a base figure of 100, and the real average earnings per jobs in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real average earnings per job growth between regions that may differ vastly in size.
Henry County's overall real average earnings per job growth was 23.99% over 1969-2022 trailed Indiana's increase of 53.39%, and fell below the United States' increase of 62.26%.
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 depicts the trends for average earnings per job relative to the national average by tracing Henry County and Indiana average earnings per job as a percent of the national average over 1969-2022.
In 1969, Henry County's average earnings per job amounted to 91.17% of the national average; in 2022, it approximated 69.67%. Similarly, in 1969, Indiana's average earnings per job totaled 99.14% of the national average; in 2022, it consisted of 93.72%.
Henry County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Henry County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Henry County's real average earnings per job growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-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, Henry County's real average earnings per job grew at an annual rate of 0.52% over 1970-2022. The county posted its highest growth in 1976 (13.40%) and recorded its lowest growth in 1974 (-11.77%). In 2022, Henry County's real average earnings per job declined by -3.67%
Henry County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
Henry County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
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 shows the annual percent change in Henry County's real average earnings per job since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Henry County's annual real average earnings per job growth rate averaged 0.25%. It averaged 0.24% in the 1980s, 1.98% in the 1990s, -0.91% in the 2000s, 0.76% in the 2010s, 1.37% thus far this decade (2020-2022).
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Henry County noted in the previous graph with the corresponding decade averages for Indiana and the nation. As the chart reveals, Henry County's average annual real average earnings per job growth trailed Indiana's average in the 1970s (0.25% vs. 0.84%), outpaced Indiana's average throughout the 1980s (0.24% vs. 0.00%), led Indiana's average during the 1990s (1.98% vs. 1.56%), posted below Indiana's average throughout the 2000s (-0.91% vs. 0.47%), recorded under Indiana's average throughout the 2010s (0.76% vs. 1.21%), and outpaced Indiana's average over the 3 year period of the current decade, 2020-2022 (1.37% vs. 1.12%).
Finally, relative to nationwide real average earnings per job growth trends, Henry County posted below the nation over the 1970s (0.25% vs. 0.89%), fell under the nation during the 1980s (0.24% vs. 0.71%), exceeded the nation over the 1990s (1.98% vs. 1.68%), trailed the nation during the 2000s (-0.91% vs. 0.72%), fell under the nation in the 2010s (0.76% vs. 1.01%), and outgained the nation over 2020-2022 (1.37% vs. -0.24%).
   
 
Real* Average Earnings Per Job Growth:
Average Annual Percent Change
 
 
 
0.52
0.25
0.24
1.98
-0.91
0.76
1.37
-3.67
 
0.83
0.84
0.00
1.56
0.47
1.21
1.12
-3.41
 
0.93
0.89
0.71
1.68
0.72
1.01
-0.24
-4.51
 
   

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

   
 
Henry County:
Average Earnings Per Job, 1969-2022
 
1969
 
6,545
0.189
34,663
100.0
N
91.97
91.17
1970
 
6,631
0.198
33,546
96.8
-3.22
90.30
87.29
1971
 
7,299
0.206
35,426
102.2
5.60
92.50
90.08
1972
 
8,046
0.213
37,762
108.9
6.60
95.76
92.59
1973
 
9,301
0.225
41,422
119.5
9.69
100.54
99.62
1974
 
9,061
0.248
36,545
105.4
-11.77
93.84
91.26
1975
 
9,007
0.269
33,534
96.7
-8.24
86.22
84.08
1976
 
10,774
0.283
38,026
109.7
13.40
94.55
93.29
1977
 
11,363
0.302
37,657
108.6
-0.97
92.77
91.55
1978
 
11,966
0.323
37,072
107.0
-1.55
90.09
88.91
1979
 
12,116
0.351
34,477
99.5
-7.00
84.47
83.17
1980
 
12,613
0.389
32,400
93.5
-6.02
83.49
80.56
1981
 
12,927
0.424
30,478
87.9
-5.93
79.16
75.75
1982
 
13,263
0.448
29,624
85.5
-2.80
78.61
73.73
1983
 
14,037
0.467
30,072
86.8
1.51
80.32
74.19
1984
 
15,888
0.484
32,800
94.6
9.07
84.02
78.73
1985
 
16,443
0.501
32,803
94.6
0.01
83.78
77.82
1986
 
16,897
0.512
32,990
95.2
0.57
83.22
76.54
1987
 
17,760
0.528
33,635
97.0
1.95
83.72
76.80
1988
 
18,717
0.549
34,114
98.4
1.42
84.45
76.68
1989
 
20,047
0.573
35,010
101.0
2.63
86.02
78.74
1990
 
20,513
0.598
34,317
99.0
-1.98
85.25
77.12
1991
 
20,813
0.618
33,693
97.2
-1.82
83.73
75.58
1992
 
22,768
0.634
35,900
103.6
6.55
85.84
77.50
1993
 
23,599
0.650
36,305
104.7
1.13
86.28
78.40
1994
 
25,388
0.664
38,260
110.4
5.38
89.48
82.14
1995
 
25,765
0.678
38,027
109.7
-0.61
89.94
81.52
1996
 
26,574
0.692
38,400
110.8
0.98
89.08
80.99
1997
 
28,184
0.704
40,030
115.5
4.24
91.06
82.37
1998
 
29,447
0.710
41,494
119.7
3.66
89.64
81.77
1999
 
30,564
0.720
42,450
122.5
2.30
89.46
80.96
2000
 
32,425
0.738
43,923
126.7
3.47
90.96
81.26
2001
 
32,101
0.753
42,630
123.0
-2.94
87.38
77.40
2002
 
33,713
0.763
44,190
127.5
3.66
89.13
79.50
2003
 
35,373
0.779
45,412
131.0
2.77
90.90
81.03
2004
 
34,400
0.798
43,094
124.3
-5.11
85.02
75.68
2005
 
33,179
0.821
40,399
116.6
-6.25
80.80
71.13
2006
 
33,996
0.844
40,260
116.1
-0.34
80.03
70.18
2007
 
34,675
0.866
40,037
115.5
-0.55
80.71
70.22
2008
 
35,421
0.892
39,723
114.6
-0.79
80.00
70.42
2009
 
34,252
0.889
38,520
111.1
-3.03
77.51
68.45
2010
 
34,543
0.905
38,163
110.1
-0.93
74.38
66.19
2011
 
36,642
0.928
39,484
113.9
3.46
75.75
68.32
2012
 
37,028
0.945
39,169
113.0
-0.80
74.68
67.25
2013
 
39,267
0.958
40,996
118.3
4.67
77.61
70.32
2014
 
38,162
0.971
39,293
113.4
-4.15
74.68
66.96
2015
 
37,032
0.973
38,060
109.8
-3.14
71.22
63.84
2016
 
39,072
0.983
39,754
114.7
4.45
73.88
66.81
2017
 
40,384
1.000
40,384
116.5
1.58
74.75
66.94
2018
 
42,309
1.020
41,461
119.6
2.66
75.67
68.13
2019
 
42,813
1.035
41,360
119.3
-0.24
73.83
66.46
2020
 
46,095
1.046
44,053
127.1
6.51
74.83
68.41
2021
 
48,634
1.090
44,618
128.7
1.28
74.55
69.06
2022
 
49,874
1.160
42,979
124.0
-3.67
74.34
69.67
Source: Calculations by the Indiana Regional Economic Analysis Project (IN-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PSN
 
   

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

   
 
Indiana:
Average Earnings Per Job, 1969-2022
 
1969
 
7,117
0.189
37,689
100.0
N
99.14
1970
 
7,343
0.198
37,148
98.6
-1.44
96.66
1971
 
7,892
0.206
38,299
101.6
3.10
97.39
1972
 
8,403
0.213
39,434
104.6
2.96
96.68
1973
 
9,252
0.225
41,201
109.3
4.48
99.09
1974
 
9,656
0.248
38,945
103.3
-5.48
97.26
1975
 
10,447
0.269
38,894
103.2
-0.13
97.52
1976
 
11,395
0.283
40,218
106.7
3.40
98.67
1977
 
12,249
0.302
40,592
107.7
0.93
98.69
1978
 
13,282
0.323
41,151
109.2
1.38
98.70
1979
 
14,344
0.351
40,817
108.3
-0.81
98.46
1980
 
15,107
0.389
38,807
103.0
-4.93
96.49
1981
 
16,331
0.424
38,502
102.2
-0.79
95.69
1982
 
16,872
0.448
37,685
100.0
-2.12
93.79
1983
 
17,476
0.467
37,442
99.3
-0.65
92.37
1984
 
18,910
0.484
39,040
103.6
4.27
93.70
1985
 
19,627
0.501
39,154
103.9
0.29
92.89
1986
 
20,303
0.512
39,640
105.2
1.24
91.96
1987
 
21,214
0.528
40,177
106.6
1.35
91.73
1988
 
22,164
0.549
40,397
107.2
0.55
90.81
1989
 
23,306
0.573
40,701
108.0
0.75
91.54
1990
 
24,064
0.598
40,257
106.8
-1.09
90.47
1991
 
24,859
0.618
40,242
106.8
-0.04
90.27
1992
 
26,522
0.634
41,820
111.0
3.92
90.28
1993
 
27,350
0.650
42,077
111.6
0.61
90.86
1994
 
28,374
0.664
42,760
113.5
1.62
91.80
1995
 
28,647
0.678
42,281
112.2
-1.12
90.64
1996
 
29,831
0.692
43,106
114.4
1.95
90.92
1997
 
30,950
0.704
43,959
116.6
1.98
90.45
1998
 
32,850
0.710
46,288
122.8
5.30
91.22
1999
 
34,164
0.720
47,449
125.9
2.51
90.50
2000
 
35,647
0.738
48,288
128.1
1.77
89.34
2001
 
36,738
0.753
48,788
129.4
1.04
88.58
2002
 
37,826
0.763
49,581
131.6
1.63
89.20
2003
 
38,914
0.779
49,957
132.6
0.76
89.14
2004
 
40,461
0.798
50,686
134.5
1.46
89.01
2005
 
41,062
0.821
49,998
132.7
-1.36
88.02
2006
 
42,480
0.844
50,307
133.5
0.62
87.69
2007
 
42,963
0.866
49,607
131.6
-1.39
87.00
2008
 
44,276
0.892
49,654
131.7
0.09
88.03
2009
 
44,190
0.889
49,695
131.9
0.08
88.31
2010
 
46,440
0.905
51,307
136.1
3.24
88.98
2011
 
48,372
0.928
52,123
138.3
1.59
90.19
2012
 
49,584
0.945
52,451
139.2
0.63
90.05
2013
 
50,592
0.958
52,820
140.1
0.70
90.61
2014
 
51,100
0.971
52,615
139.6
-0.39
89.67
2015
 
51,997
0.973
53,440
141.8
1.57
89.64
2016
 
52,889
0.983
53,813
142.8
0.70
90.44
2017
 
54,023
1.000
54,023
143.3
0.39
89.55
2018
 
55,911
1.020
54,790
145.4
1.42
90.03
2019
 
57,988
1.035
56,020
148.6
2.25
90.02
2020
 
61,599
1.046
58,871
156.2
5.09
91.42
2021
 
65,239
1.090
59,852
158.8
1.67
92.64
2022
 
67,088
1.160
57,813
153.4
-3.41
93.72
Source: Calculations by the Indiana Regional Economic Analysis Project (IN-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_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:
Average Earnings Per Job, 1969-2022
 
1969
 
7,179
0.189
38,018
100.0
N
1970
 
7,596
0.198
38,430
101.1
1.08
1971
 
8,103
0.206
39,326
103.4
2.33
1972
 
8,691
0.213
40,786
107.3
3.71
1973
 
9,336
0.225
41,579
109.4
1.94
1974
 
9,928
0.248
40,044
105.3
-3.69
1975
 
10,713
0.269
39,883
104.9
-0.40
1976
 
11,549
0.283
40,761
107.2
2.20
1977
 
12,412
0.302
41,131
108.2
0.91
1978
 
13,457
0.323
41,694
109.7
1.37
1979
 
14,568
0.351
41,454
109.0
-0.58
1980
 
15,657
0.389
40,220
105.8
-2.98
1981
 
17,066
0.424
40,237
105.8
0.04
1982
 
17,989
0.448
40,181
105.7
-0.14
1983
 
18,920
0.467
40,535
106.6
0.88
1984
 
20,181
0.484
41,663
109.6
2.78
1985
 
21,130
0.501
42,152
110.9
1.17
1986
 
22,078
0.512
43,104
113.4
2.26
1987
 
23,126
0.528
43,799
115.2
1.61
1988
 
24,408
0.549
44,487
117.0
1.57
1989
 
25,460
0.573
44,462
117.0
-0.05
1990
 
26,599
0.598
44,498
117.0
0.08
1991
 
27,537
0.618
44,577
117.3
0.18
1992
 
29,378
0.634
46,323
121.8
3.92
1993
 
30,101
0.650
46,309
121.8
-0.03
1994
 
30,909
0.664
46,580
122.5
0.59
1995
 
31,605
0.678
46,646
122.7
0.14
1996
 
32,810
0.692
47,411
124.7
1.64
1997
 
34,218
0.704
48,600
127.8
2.51
1998
 
36,011
0.710
50,743
133.5
4.41
1999
 
37,751
0.720
52,432
137.9
3.33
2000
 
39,903
0.738
54,053
142.2
3.09
2001
 
41,477
0.753
55,080
144.9
1.90
2002
 
42,406
0.763
55,584
146.2
0.92
2003
 
43,655
0.779
56,045
147.4
0.83
2004
 
45,456
0.798
56,943
149.8
1.60
2005
 
46,648
0.821
56,800
149.4
-0.25
2006
 
48,442
0.844
57,368
150.9
1.00
2007
 
49,382
0.866
57,019
150.0
-0.61
2008
 
50,298
0.892
56,407
148.4
-1.07
2009
 
50,041
0.889
56,276
148.0
-0.23
2010
 
52,191
0.905
57,661
151.7
2.46
2011
 
53,633
0.928
57,792
152.0
0.23
2012
 
55,061
0.945
58,245
153.2
0.78
2013
 
55,837
0.958
58,296
153.3
0.09
2014
 
56,990
0.971
58,680
154.3
0.66
2015
 
58,005
0.973
59,615
156.8
1.59
2016
 
58,480
0.983
59,501
156.5
-0.19
2017
 
60,329
1.000
60,329
158.7
1.39
2018
 
62,102
1.020
60,856
160.1
0.87
2019
 
64,419
1.035
62,233
163.7
2.26
2020
 
67,378
1.046
64,393
169.4
3.47
2021
 
70,421
1.090
64,606
169.9
0.33
2022
 
71,586
1.160
61,690
162.3
-4.51
Source: Calculations by the Indiana Regional Economic Analysis Project (IN-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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