Vigo County vs. Indiana
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Vigo County vs. Indiana
Vigo County:
2022 Earnings = $3,386,312K
2022 Percent of State = 1.22%
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.
Vigo County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Vigo County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Vigo 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 Vigo County over time.
When measured in current dollars, Vigo County's total industry earnings increased 816.82%, from $369M in 1970 to $3,386M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 56.17%, from $1,869M in 1970 to $2,918M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Vigo 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, Vigo County's real total industry earnings rose from $1,840M in 1969 to $2,918M in 2022, for a net gain of $1,078M, or 58.61%. In comparison, Indiana's real total industry earnings increased from $87,695M in 1969 to $239,384M in 2022, for a net gain 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 Vigo 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.
Vigo County's overall real total industry earnings growth was 58.61% over 1969-2022 trailed Indiana's increase of 172.97%, and fell below 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 Vigo County is to compare 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, Vigo County's total industry earnings totaled 2.10% of Indiana's total industry earnings, while in 2022 it equated to 1.22% thereby yielding a -0.88% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.88%
=
1.22%
-
2.10%
 
   
Vigo County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Vigo County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Vigo 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 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, Vigo County's real total industry earnings grew at an annual rate of 0.91% over 1970-2022. The county posted its highest growth in 1992 (6.49%) and recorded its lowest growth in 1980 (-5.94%). In 2022, Vigo County's real total industry earnings declined by -2.23%
Vigo County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Vigo 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 Vigo County's real total industry earnings 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, Vigo County's annual real total industry earnings growth rate averaged 2.38%. It averaged -0.72% during the 1980s, 2.25% in the 1990s, 1.04% in the 2000s, -0.21% in the 2010s, 0.32% 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 Vigo County noted in the previous graph with the corresponding decade averages for Indiana and the nation. As the chart reveals, Vigo County's average annual real total industry earnings growth fell below Indiana's average in the 1970s (2.38% vs. 2.45%), lagged Indiana's average throughout the 1980s (-0.72% vs. 1.14%), lagged Indiana's average during the 1990s (2.25% vs. 3.39%), outpaced Indiana's average during the 2000s (1.04% vs. 0.28%), lagged Indiana's average during the 2010s (-0.21% vs. 2.42%), and recorded under Indiana's average over the 3 year period of the current decade, 2020-2022 (0.32% vs. 2.51%).
Finally, relative to nationwide real total industry earnings growth trends, Vigo County trailed the nation during the 1970s (2.38% vs. 3.13%), lagged the nation throughout the 1980s (-0.72% vs. 2.62%), fell under the nation over the 1990s (2.25% vs. 3.43%), lagged the nation over the 2000s (1.04% vs. 1.47%), fell under the nation in the 2010s (-0.21% vs. 2.53%), and fell under the nation over 2020-2022 (0.32% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
0.91
2.38
-0.72
2.25
1.04
-0.21
0.32
-2.23
 
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.

   
 
Vigo County:
Total Industry Earnings, 1969-2022
 
1969
 
347,417
0.189
1,839,840
100.0
N
2.10
1970
 
369,353
0.198
1,868,628
101.6
1.56
2.20
1971
 
388,907
0.206
1,887,440
102.6
1.01
2.15
1972
 
415,491
0.213
1,949,930
106.0
3.31
2.09
1973
 
463,780
0.225
2,065,375
112.3
5.92
2.02
1974
 
506,823
0.248
2,044,218
111.1
-1.02
2.11
1975
 
543,087
0.269
2,021,917
109.9
-1.09
2.16
1976
 
599,094
0.283
2,114,474
114.9
4.58
2.11
1977
 
666,227
0.302
2,207,804
120.0
4.41
2.11
1978
 
746,652
0.323
2,313,335
125.7
4.78
2.11
1979
 
815,516
0.351
2,320,565
126.1
0.31
2.10
1980
 
849,698
0.389
2,182,742
118.6
-5.94
2.14
1981
 
884,354
0.424
2,085,003
113.3
-4.48
2.08
1982
 
880,586
0.448
1,966,867
106.9
-5.67
2.07
1983
 
888,905
0.467
1,904,416
103.5
-3.18
2.00
1984
 
954,315
0.484
1,970,138
107.1
3.45
1.91
1985
 
1,006,670
0.501
2,008,199
109.2
1.93
1.90
1986
 
1,058,608
0.512
2,066,827
112.3
2.92
1.89
1987
 
1,099,369
0.528
2,082,059
113.2
0.74
1.82
1988
 
1,145,359
0.549
2,087,595
113.5
0.27
1.76
1989
 
1,228,437
0.573
2,145,329
116.6
2.77
1.75
1990
 
1,317,146
0.598
2,203,506
119.8
2.71
1.78
1991
 
1,389,641
0.618
2,249,556
122.3
2.09
1.82
1992
 
1,519,274
0.634
2,395,576
130.2
6.49
1.84
1993
 
1,558,418
0.650
2,397,566
130.3
0.08
1.78
1994
 
1,637,404
0.664
2,467,605
134.1
2.92
1.76
1995
 
1,705,758
0.678
2,517,575
136.8
2.03
1.76
1996
 
1,707,966
0.692
2,468,052
134.1
-1.97
1.68
1997
 
1,733,145
0.704
2,461,609
133.8
-0.26
1.61
1998
 
1,831,812
0.710
2,581,217
140.3
4.86
1.57
1999
 
1,923,909
0.720
2,672,059
145.2
3.52
1.57
2000
 
1,988,156
0.738
2,693,175
146.4
0.79
1.53
2001
 
2,146,619
0.753
2,850,680
154.9
5.85
1.63
2002
 
2,240,971
0.763
2,937,399
159.7
3.04
1.67
2003
 
2,332,052
0.779
2,993,879
162.7
1.92
1.69
2004
 
2,400,894
0.798
3,007,621
163.5
0.46
1.65
2005
 
2,451,140
0.821
2,984,573
162.2
-0.77
1.64
2006
 
2,557,054
0.844
3,028,250
164.6
1.46
1.64
2007
 
2,624,677
0.866
3,030,560
164.7
0.08
1.64
2008
 
2,715,218
0.892
3,044,990
165.5
0.48
1.67
2009
 
2,627,569
0.889
2,954,948
160.6
-2.96
1.69
2010
 
2,704,267
0.905
2,987,678
162.4
1.11
1.65
2011
 
2,699,029
0.928
2,908,311
158.1
-2.66
1.55
2012
 
2,732,379
0.945
2,890,366
157.1
-0.62
1.51
2013
 
2,767,768
0.958
2,889,684
157.1
-0.02
1.48
2014
 
2,780,714
0.971
2,863,144
155.6
-0.92
1.45
2015
 
2,783,782
0.973
2,861,059
155.5
-0.07
1.41
2016
 
2,809,172
0.983
2,858,219
155.4
-0.10
1.38
2017
 
2,884,786
1.000
2,884,786
156.8
0.93
1.37
2018
 
2,945,409
1.020
2,886,326
156.9
0.05
1.33
2019
 
2,993,033
1.035
2,891,456
157.2
0.18
1.30
2020
 
3,063,941
1.046
2,928,218
159.2
1.27
1.29
2021
 
3,253,297
1.090
2,984,649
162.2
1.93
1.25
2022
 
3,386,312
1.160
2,918,153
158.6
-2.23
1.22
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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