Hancock County vs. Indiana
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Hancock County vs. Indiana
Hancock County:
2022 Earnings = $2,242,244K
2022 Percent of State = 0.81%
Indiana:
2022 Earnings = $277,788,293K
2022 Percent of U.S. = 1.83%
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.
Hancock County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Hancock County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Hancock County's annual total industry earnings 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 Hancock County over time.
When measured in current dollars, Hancock County's total industry earnings increased 3,782.27%, from $58M in 1970 to $2,242M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 561.28%, from $292M in 1970 to $1,932M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Hancock County's and Indiana's annual real total industry earnings for the period 1969-2022 to illustrate real total industry earnings patterns over time. During this 54-year period, Hancock County's real total industry earnings rose from $291M in 1969 to $1,932M in 2022, for a net gain of $1,641M, or 563.32%. In comparison, Indiana's real total industry earnings advanced from $87,695M in 1969 to $239,384M in 2022, for a net advance of $151,689M, or 172.97%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Hancock County's real total industry earnings 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 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.
Hancock County's overall real total industry earnings growth was 563.32% over 1969-2022 outpaced Indiana's increase of 172.97%, and topped the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Indiana Total: 1969-2022
Total Industry Earnings as a Percent of the Indiana Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total industry earnings growth of Hancock County is to trace its individual percentage contributions to Indiana'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 Indiana's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Hancock County's total industry earnings comprised 0.33% of Indiana's total industry earnings, while in 2022 it comprised 0.81% thereby yielding a +0.48% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.48%
=
0.81%
-
0.33%
 
   
Hancock County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Hancock County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Hancock County's real total industry earnings 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 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, Hancock County's real total industry earnings grew at an annual rate of 3.76% over 1970-2022. The county posted its highest growth in 1973 (19.55%) and posted its lowest growth in 1974 (-7.37%). In 2022, Hancock County's real total industry earnings grew by 3.08%
Hancock County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Hancock County Real Total Industry Earnings:
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 Hancock 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, 2010s, and 2020-2022.
During the 1970s, Hancock County's annual real total industry earnings growth rate averaged 4.56%. It averaged 2.71% during the 1980s, 6.47% throughout the 1990s, 1.31% during the 2000s, 3.97% throughout the 2010s, 3.02% thus far this decade (2020-2022).
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 Hancock County noted in the previous graph with the corresponding decade averages for Indiana and the nation. As the chart reveals, Hancock County's average annual real total industry earnings growth recorded above Indiana's average during the 1970s (4.56% vs. 2.45%), exceeded Indiana's average throughout the 1980s (2.71% vs. 1.14%), recorded above Indiana's average in the 1990s (6.47% vs. 3.39%), outgained Indiana's average in the 2000s (1.31% vs. 0.28%), outgained Indiana's average during the 2010s (3.97% vs. 2.42%), and led Indiana's average over the 3 year period of the current decade, 2020-2022 (3.02% vs. 2.51%).
Finally, relative to nationwide real total industry earnings growth trends, Hancock County recorded above the nation over the 1970s (4.56% vs. 3.13%), outpaced the nation throughout the 1980s (2.71% vs. 2.62%), topped the nation during the 1990s (6.47% vs. 3.43%), fell below the nation throughout the 2000s (1.31% vs. 1.47%), outperformed the nation during the 2010s (3.97% vs. 2.53%), and exceeded the nation over 2020-2022 (3.02% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.76
4.56
2.71
6.47
1.31
3.97
3.02
3.08
 
1.97
2.45
1.14
3.39
0.28
2.42
2.51
0.53
 
2.57
3.13
2.62
3.43
1.47
2.53
1.48
0.05
 
   

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

   
 
Hancock County:
Total Industry Earnings, 1969-2022
 
1969
 
55,006
0.189
291,299
100.0
N
0.33
1970
 
57,756
0.198
292,199
100.3
0.31
0.34
1971
 
66,099
0.206
320,791
110.1
9.79
0.37
1972
 
70,827
0.213
332,396
114.1
3.62
0.36
1973
 
89,233
0.225
397,386
136.4
19.55
0.39
1974
 
91,262
0.248
368,096
126.4
-7.37
0.38
1975
 
98,599
0.269
367,085
126.0
-0.27
0.39
1976
 
111,730
0.283
394,346
135.4
7.43
0.39
1977
 
123,240
0.302
408,404
140.2
3.56
0.39
1978
 
140,527
0.323
435,392
149.5
6.61
0.40
1979
 
156,723
0.351
445,958
153.1
2.43
0.40
1980
 
164,129
0.389
421,622
144.7
-5.46
0.41
1981
 
166,313
0.424
392,109
134.6
-7.00
0.39
1982
 
172,039
0.448
384,264
131.9
-2.00
0.40
1983
 
177,098
0.467
379,420
130.3
-1.26
0.40
1984
 
202,742
0.484
418,551
143.7
10.31
0.41
1985
 
219,855
0.501
438,587
150.6
4.79
0.42
1986
 
237,516
0.512
463,726
159.2
5.73
0.42
1987
 
265,049
0.528
501,968
172.3
8.25
0.44
1988
 
283,702
0.549
517,091
177.5
3.01
0.44
1989
 
327,826
0.573
572,512
196.5
10.72
0.47
1990
 
360,711
0.598
603,448
207.2
5.40
0.49
1991
 
376,798
0.618
609,962
209.4
1.08
0.49
1992
 
411,718
0.634
649,193
222.9
6.43
0.50
1993
 
455,116
0.650
700,178
240.4
7.85
0.52
1994
 
459,665
0.664
692,726
237.8
-1.06
0.49
1995
 
489,475
0.678
722,430
248.0
4.29
0.51
1996
 
549,827
0.692
794,513
272.7
9.98
0.54
1997
 
616,454
0.704
875,558
300.6
10.20
0.57
1998
 
682,949
0.710
962,347
330.4
9.91
0.59
1999
 
766,621
0.720
1,064,737
365.5
10.64
0.62
2000
 
822,033
0.738
1,113,534
382.3
4.58
0.63
2001
 
800,519
0.753
1,063,078
364.9
-4.53
0.61
2002
 
835,010
0.763
1,094,507
375.7
2.96
0.62
2003
 
877,861
0.779
1,126,994
386.9
2.97
0.64
2004
 
977,759
0.798
1,224,847
420.5
8.68
0.67
2005
 
1,008,466
0.821
1,227,935
421.5
0.25
0.68
2006
 
1,072,238
0.844
1,269,822
435.9
3.41
0.69
2007
 
1,114,035
0.866
1,286,311
441.6
1.30
0.70
2008
 
1,148,581
0.892
1,288,080
442.2
0.14
0.70
2009
 
1,069,185
0.889
1,202,399
412.8
-6.65
0.69
2010
 
1,103,119
0.905
1,218,727
418.4
1.36
0.67
2011
 
1,189,723
0.928
1,281,974
440.1
5.19
0.69
2012
 
1,246,915
0.945
1,319,012
452.8
2.89
0.69
2013
 
1,371,806
0.958
1,432,232
491.7
8.58
0.74
2014
 
1,361,135
0.971
1,401,484
481.1
-2.15
0.71
2015
 
1,391,006
0.973
1,429,620
490.8
2.01
0.70
2016
 
1,482,780
0.983
1,508,669
517.9
5.53
0.73
2017
 
1,604,055
1.000
1,604,055
550.7
6.32
0.76
2018
 
1,671,865
1.020
1,638,328
562.4
2.14
0.75
2019
 
1,829,154
1.035
1,767,077
606.6
7.86
0.79
2020
 
1,902,784
1.046
1,818,497
624.3
2.91
0.80
2021
 
2,043,291
1.090
1,874,562
643.5
3.08
0.79
2022
 
2,242,244
1.160
1,932,253
663.3
3.08
0.81
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_1200_PSN
 
   

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

   
 
Indiana:
Total Industry Earnings, 1969-2022
 
1969
 
16,559,407
0.189
87,694,789
100.0
N
2.53
1970
 
16,821,198
0.198
85,101,680
97.0
-2.96
2.43
1971
 
18,071,479
0.206
87,704,339
100.0
3.06
2.44
1972
 
19,887,663
0.213
93,334,255
106.4
6.42
2.43
1973
 
22,973,266
0.225
102,308,020
116.7
9.61
2.50
1974
 
24,066,463
0.248
97,069,588
110.7
-5.12
2.42
1975
 
25,121,072
0.269
93,525,957
106.6
-3.65
2.37
1976
 
28,361,742
0.283
100,101,444
114.1
7.03
2.42
1977
 
31,579,299
0.302
104,650,381
119.3
4.54
2.42
1978
 
35,456,979
0.323
109,855,555
125.3
4.97
2.40
1979
 
38,848,588
0.351
110,544,313
126.1
0.63
2.36
1980
 
39,671,153
0.389
101,909,045
116.2
-7.81
2.22
1981
 
42,504,222
0.424
100,210,355
114.3
-1.67
2.17
1982
 
42,554,753
0.448
95,049,816
108.4
-5.15
2.07
1983
 
44,424,894
0.467
95,177,166
108.5
0.13
2.03
1984
 
49,969,736
0.484
103,160,131
117.6
8.39
2.05
1985
 
52,905,012
0.501
105,539,842
120.3
2.31
2.02
1986
 
55,944,608
0.512
109,226,279
124.6
3.49
2.01
1987
 
60,440,353
0.528
114,466,030
130.5
4.80
2.02
1988
 
65,055,342
0.549
118,573,484
135.2
3.59
2.00
1989
 
70,158,341
0.573
122,523,779
139.7
3.33
2.02
1990
 
73,869,666
0.598
123,579,533
140.9
0.86
2.01
1991
 
76,362,612
0.618
123,616,104
141.0
0.03
2.02
1992
 
82,765,547
0.634
130,503,858
148.8
5.57
2.04
1993
 
87,443,823
0.650
134,528,958
153.4
3.08
2.06
1994
 
93,273,107
0.664
140,564,692
160.3
4.49
2.09
1995
 
96,808,306
0.678
142,882,053
162.9
1.65
2.07
1996
 
101,962,444
0.692
147,338,185
168.0
3.12
2.06
1997
 
107,590,125
0.704
152,811,688
174.3
3.71
2.03
1998
 
116,395,080
0.710
164,012,964
187.0
7.33
2.04
1999
 
122,871,003
0.720
170,651,801
194.6
4.05
2.01
2000
 
130,046,205
0.738
176,161,856
200.9
3.23
1.97
2001
 
131,851,519
0.753
175,096,968
199.7
-0.60
1.92
2002
 
134,402,594
0.763
176,170,969
200.9
0.61
1.92
2003
 
138,228,969
0.779
177,457,788
202.4
0.73
1.91
2004
 
145,387,998
0.798
182,128,851
207.7
2.63
1.89
2005
 
149,251,246
0.821
181,732,251
207.2
-0.22
1.86
2006
 
156,086,058
0.844
184,848,482
210.8
1.71
1.83
2007
 
159,825,008
0.866
184,540,520
210.4
-0.17
1.80
2008
 
163,066,609
0.892
182,871,604
208.5
-0.90
1.81
2009
 
155,681,104
0.889
175,077,995
199.6
-4.26
1.79
2010
 
163,713,638
0.905
180,871,067
206.3
3.31
1.81
2011
 
173,662,050
0.928
187,127,764
213.4
3.46
1.84
2012
 
180,599,273
0.945
191,041,607
217.8
2.09
1.83
2013
 
186,388,763
0.958
194,598,890
221.9
1.86
1.83
2014
 
191,139,577
0.971
196,805,611
224.4
1.13
1.80
2015
 
197,402,513
0.973
202,882,366
231.4
3.09
1.79
2016
 
203,492,406
0.983
207,045,303
236.1
2.05
1.80
2017
 
210,873,137
1.000
210,873,137
240.5
1.85
1.78
2018
 
221,616,756
1.020
217,171,260
247.6
2.99
1.78
2019
 
230,188,408
1.035
222,376,328
253.6
2.40
1.77
2020
 
236,732,731
1.046
226,246,219
258.0
1.74
1.80
2021
 
259,549,511
1.090
238,116,633
271.5
5.25
1.82
2022
 
277,788,293
1.160
239,383,929
273.0
0.53
1.83
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_1200_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 Industry Earnings, 1969-2022
 
1969
 
653,665,000
0.189
3,461,658,635
100.0
N
1970
 
693,352,000
0.198
3,507,801,275
101.3
1.33
1971
 
742,094,000
0.206
3,601,523,902
104.0
2.67
1972
 
819,646,000
0.213
3,846,658,532
111.1
6.81
1973
 
918,964,000
0.225
4,092,469,383
118.2
6.39
1974
 
993,909,000
0.248
4,008,829,105
115.8
-2.04
1975
 
1,059,492,000
0.269
3,944,497,394
113.9
-1.60
1976
 
1,173,271,000
0.283
4,141,005,188
119.6
4.98
1977
 
1,303,767,000
0.302
4,320,542,816
124.8
4.34
1978
 
1,476,080,000
0.323
4,573,305,242
132.1
5.85
1979
 
1,648,363,000
0.351
4,690,444,754
135.5
2.56
1980
 
1,784,597,000
0.389
4,584,353,165
132.4
-2.26
1981
 
1,961,173,000
0.424
4,623,772,250
133.6
0.86
1982
 
2,053,729,000
0.448
4,587,185,902
132.5
-0.79
1983
 
2,188,018,000
0.467
4,687,672,466
135.4
2.19
1984
 
2,432,402,000
0.484
5,021,577,654
145.1
7.12
1985
 
2,615,791,000
0.501
5,218,223,348
150.7
3.92
1986
 
2,786,901,000
0.512
5,441,146,840
157.2
4.27
1987
 
2,996,000,000
0.528
5,674,027,499
163.9
4.28
1988
 
3,259,979,000
0.549
5,941,819,010
171.6
4.72
1989
 
3,467,027,000
0.573
6,054,778,994
174.9
1.90
1990
 
3,679,460,000
0.598
6,155,516,520
177.8
1.66
1991
 
3,789,428,000
0.618
6,134,341,309
177.2
-0.34
1992
 
4,059,023,000
0.634
6,400,225,481
184.9
4.33
1993
 
4,237,437,000
0.650
6,519,133,846
188.3
1.86
1994
 
4,456,948,000
0.664
6,716,721,924
194.0
3.03
1995
 
4,674,849,000
0.678
6,899,738,761
199.3
2.72
1996
 
4,956,180,000
0.692
7,161,799,344
206.9
3.80
1997
 
5,288,047,000
0.704
7,510,683,597
217.0
4.87
1998
 
5,707,014,000
0.710
8,041,785,619
232.3
7.07
1999
 
6,098,042,000
0.720
8,469,385,147
244.7
5.32
2000
 
6,598,743,000
0.738
8,938,721,519
258.2
5.54
2001
 
6,865,291,000
0.753
9,117,010,172
263.4
1.99
2002
 
7,001,002,000
0.763
9,176,707,606
265.1
0.65
2003
 
7,243,377,000
0.779
9,299,017,896
268.6
1.33
2004
 
7,674,785,000
0.798
9,614,272,113
277.7
3.39
2005
 
8,039,238,000
0.821
9,788,788,097
282.8
1.82
2006
 
8,519,349,000
0.844
10,089,233,775
291.5
3.07
2007
 
8,866,261,000
0.866
10,237,349,175
295.7
1.47
2008
 
9,014,085,000
0.892
10,108,876,304
292.0
-1.25
2009
 
8,688,913,000
0.889
9,771,497,172
282.3
-3.34
2010
 
9,023,916,000
0.905
9,969,635,637
288.0
2.03
2011
 
9,444,387,000
0.928
10,176,702,513
294.0
2.08
2012
 
9,854,834,000
0.945
10,424,645,101
301.1
2.44
2013
 
10,180,570,000
0.958
10,629,007,841
307.0
1.96
2014
 
10,613,874,000
0.971
10,928,505,678
315.7
2.82
2015
 
11,039,821,000
0.973
11,346,284,134
327.8
3.82
2016
 
11,311,477,000
0.983
11,508,970,941
332.5
1.43
2017
 
11,848,205,000
1.000
11,848,205,000
342.3
2.95
2018
 
12,438,590,000
1.020
12,189,079,542
352.1
2.88
2019
 
12,989,097,000
1.035
12,548,276,062
362.5
2.95
2020
 
13,158,025,000
1.046
12,575,166,053
363.3
0.21
2021
 
14,278,043,000
1.090
13,099,001,844
378.4
4.17
2022
 
15,207,952,000
1.160
13,105,445,395
378.6
0.05
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_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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