Fayette County vs. Indiana
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Fayette County vs. Indiana
Fayette County:
2022 TPI = $1,110,661K
2022 Percent of State = 0.28%
Indiana:
2022 TPI = $398,522,647K
2022 Percent of U.S. = 1.83%
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 Fayette County and Indiana 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 2017 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.
Fayette County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Fayette County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Fayette County's annual total personal income 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 Fayette County over time.
When measured in current dollars, Fayette County's total personal income increased 1,099.00%, from $93M in 1970 to $1,111M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 104.23%, from $469M in 1970 to $957M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Fayette County's and Indiana's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Fayette County's real total personal income rose from $476M in 1969 to $957M in 2022, for a net gain of $481M, or 101.01%. In comparison, Indiana's real total personal income advanced from $101,882M in 1969 to $343,427M in 2022, for a net gain of $241,545M, or 237.08%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Fayette County's real total personal income 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 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.
Fayette County's overall real total personal income growth was 101.01% over 1969-2022 trailed Indiana's increase of 237.08%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the Indiana Total: 1969-2022
Total Personal Income as a Percent of the Indiana Total: 1969-2022
Figure 4.
Another interesting and insightful way of contrasting the total personal income growth of Fayette County is to trace its individual percentage contributions to Indiana'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 Indiana's total personal income, while a declining share shows it grew more slowly.
In 1969, Fayette County's total personal income comprised 0.47% of Indiana's total personal income, while in 2022 it comprised 0.28% thereby yielding a -0.19% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.19%
=
0.28%
-
0.47%
 
   
Fayette County Real Total Personal Income:
Annual Percent Change, 1970-2022
Fayette County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Fayette County's real total personal income 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, Fayette County's real total personal income grew at an annual rate of 1.40% over 1970-2022. The county recorded its highest growth in 1973 (15.61%) and posted its lowest growth in 1974 (-6.19%). In 2022, Fayette County's real total personal income declined by -5.77%
Fayette County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Fayette County Real Total Personal Income:
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 Fayette 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, 2010s, and 2020-2022.
During the 1970s, Fayette County's annual real total personal income growth rate averaged 2.45%. It averaged 1.53% during the 1980s, 2.19% throughout the 1990s, -0.90% in the 2000s, 1.61% during the 2010s, 1.75% thus far this decade (2020-2022).
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 Fayette County noted in the previous graph with the corresponding decade averages for Indiana and the nation. As the chart reveals, Fayette County's average annual real total personal income growth recorded under Indiana's average during the 1970s (2.45% vs. 2.99%), amounted to less than Indiana's average throughout the 1980s (1.53% vs. 1.88%), fell below Indiana's average in the 1990s (2.19% vs. 3.18%), posted below Indiana's average in the 2000s (-0.90% vs. 1.11%), lagged Indiana's average in the 2010s (1.61% vs. 2.42%), and fell below Indiana's average over the 3 year period of the current decade, 2020-2022 (1.75% vs. 2.99%).
Finally, relative to nationwide real total personal income growth trends, Fayette County fell under the nation during the 1970s (2.45% vs. 3.50%), recorded underneath the nation over the 1980s (1.53% vs. 3.16%), lagged the nation over the 1990s (2.19% vs. 3.27%), posted below the nation in the 2000s (-0.90% vs. 2.06%), recorded underneath the nation during the 2010s (1.61% vs. 2.72%), and fell under the nation over 2020-2022 (1.75% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
1.40
2.45
1.53
2.19
-0.90
1.61
1.75
-5.77
 
2.35
2.99
1.88
3.18
1.11
2.42
2.99
-3.50
 
2.89
3.50
3.16
3.27
2.06
2.72
2.10
-4.19
 
   

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

   
 
Fayette County:
Total Personal Income, 1969-2022
 
1969
 
89,910
0.189
476,143
100.0
N
0.47
1970
 
92,632
0.198
468,643
98.4
-1.58
0.46
1971
 
100,784
0.206
489,124
102.7
4.37
0.46
1972
 
114,374
0.213
536,766
112.7
9.74
0.48
1973
 
139,348
0.225
620,566
130.3
15.61
0.51
1974
 
144,328
0.248
582,132
122.3
-6.19
0.49
1975
 
147,341
0.269
548,552
115.2
-5.77
0.47
1976
 
164,918
0.283
582,070
122.2
6.11
0.47
1977
 
177,755
0.302
589,061
123.7
1.20
0.46
1978
 
192,099
0.323
595,176
125.0
1.04
0.44
1979
 
209,095
0.351
594,983
125.0
-0.03
0.44
1980
 
227,206
0.389
583,657
122.6
-1.90
0.44
1981
 
246,533
0.424
581,240
122.1
-0.41
0.44
1982
 
259,678
0.448
580,014
121.8
-0.21
0.44
1983
 
279,705
0.467
599,248
125.9
3.32
0.46
1984
 
304,269
0.484
628,149
131.9
4.82
0.45
1985
 
313,979
0.501
626,355
131.5
-0.29
0.44
1986
 
337,519
0.512
658,972
138.4
5.21
0.45
1987
 
348,146
0.528
659,342
138.5
0.06
0.44
1988
 
364,065
0.549
663,565
139.4
0.64
0.42
1989
 
395,611
0.573
690,891
145.1
4.12
0.42
1990
 
407,858
0.598
682,322
143.3
-1.24
0.41
1991
 
410,357
0.618
664,288
139.5
-2.64
0.40
1992
 
455,869
0.634
718,810
151.0
8.21
0.41
1993
 
494,665
0.650
761,023
159.8
5.87
0.43
1994
 
522,223
0.664
787,002
165.3
3.41
0.42
1995
 
517,142
0.678
763,264
160.3
-3.02
0.40
1996
 
538,690
0.692
778,420
163.5
1.99
0.40
1997
 
572,002
0.704
812,422
170.6
4.37
0.40
1998
 
601,186
0.710
847,135
177.9
4.27
0.39
1999
 
614,130
0.720
852,946
179.1
0.69
0.38
2000
 
643,834
0.738
872,144
183.2
2.25
0.38
2001
 
657,480
0.753
873,124
183.4
0.11
0.38
2002
 
657,022
0.763
861,205
180.9
-1.37
0.37
2003
 
657,420
0.779
843,993
177.3
-2.00
0.36
2004
 
675,628
0.798
846,365
177.8
0.28
0.35
2005
 
670,738
0.821
816,708
171.5
-3.50
0.34
2006
 
681,635
0.844
807,242
169.5
-1.16
0.33
2007
 
698,272
0.866
806,254
169.3
-0.12
0.32
2008
 
711,572
0.892
797,995
167.6
-1.02
0.31
2009
 
692,365
0.889
778,629
163.5
-2.43
0.31
2010
 
725,602
0.905
801,646
168.4
2.96
0.31
2011
 
760,851
0.928
819,847
172.2
2.27
0.31
2012
 
787,096
0.945
832,606
174.9
1.56
0.31
2013
 
798,509
0.958
833,682
175.1
0.13
0.31
2014
 
828,961
0.971
853,534
179.3
2.38
0.31
2015
 
825,234
0.973
848,142
178.1
-0.63
0.30
2016
 
859,004
0.983
874,002
183.6
3.05
0.30
2017
 
887,803
1.000
887,803
186.5
1.58
0.30
2018
 
921,131
1.020
902,654
189.6
1.67
0.29
2019
 
944,902
1.035
912,834
191.7
1.13
0.29
2020
 
1,026,570
1.046
981,096
206.1
7.48
0.29
2021
 
1,107,094
1.090
1,015,673
213.3
3.52
0.29
2022
 
1,110,661
1.160
957,112
201.0
-5.77
0.28
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_300_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 Personal Income, 1969-2022
 
1969
 
19,238,335
0.189
101,881,772
100.0
N
2.43
1970
 
20,028,723
0.198
101,329,166
99.5
-0.54
2.34
1971
 
21,793,740
0.206
105,769,182
103.8
4.38
2.36
1972
 
23,846,523
0.213
111,913,474
109.8
5.81
2.35
1973
 
27,368,399
0.225
121,881,091
119.6
8.91
2.41
1974
 
29,274,320
0.248
118,074,941
115.9
-3.12
2.35
1975
 
31,607,533
0.269
117,675,104
115.5
-0.34
2.32
1976
 
35,131,556
0.283
123,995,186
121.7
5.37
2.35
1977
 
38,900,918
0.302
128,913,435
126.5
3.97
2.36
1978
 
43,398,431
0.323
134,460,376
132.0
4.30
2.34
1979
 
47,804,276
0.351
136,027,875
133.5
1.17
2.31
1980
 
51,434,612
0.389
132,127,548
129.7
-2.87
2.22
1981
 
56,385,049
0.424
132,936,577
130.5
0.61
2.18
1982
 
58,405,977
0.448
130,454,931
128.0
-1.87
2.10
1983
 
61,292,821
0.467
131,315,496
128.9
0.66
2.06
1984
 
67,944,411
0.484
140,267,989
137.7
6.82
2.07
1985
 
71,781,760
0.501
143,196,936
140.6
2.09
2.05
1986
 
75,602,918
0.512
147,607,173
144.9
3.08
2.03
1987
 
79,994,102
0.528
151,498,242
148.7
2.64
2.03
1988
 
85,855,229
0.549
156,484,515
153.6
3.29
2.01
1989
 
93,483,728
0.573
163,258,986
160.2
4.33
2.03
1990
 
98,724,639
0.598
165,160,417
162.1
1.16
2.02
1991
 
101,844,784
0.618
164,866,747
161.8
-0.18
2.01
1992
 
110,062,468
0.634
173,545,361
170.3
5.26
2.04
1993
 
115,996,313
0.650
178,455,866
175.2
2.83
2.06
1994
 
123,234,342
0.664
185,716,954
182.3
4.07
2.08
1995
 
128,816,697
0.678
190,124,121
186.6
2.37
2.05
1996
 
136,090,898
0.692
196,654,622
193.0
3.43
2.04
1997
 
143,320,055
0.704
203,559,383
199.8
3.51
2.03
1998
 
154,521,832
0.710
217,737,585
213.7
6.97
2.04
1999
 
160,465,789
0.720
222,866,056
218.7
2.36
2.01
2000
 
171,032,057
0.738
231,681,690
227.4
3.96
1.98
2001
 
175,229,754
0.753
232,702,656
228.4
0.44
1.95
2002
 
177,918,829
0.763
233,210,771
228.9
0.22
1.95
2003
 
182,457,953
0.779
234,238,777
229.9
0.44
1.93
2004
 
191,088,330
0.798
239,378,068
235.0
2.19
1.91
2005
 
196,999,021
0.821
239,871,201
235.4
0.21
1.87
2006
 
208,373,702
0.844
246,771,319
242.2
2.88
1.85
2007
 
215,919,895
0.866
249,309,981
244.7
1.03
1.81
2008
 
226,602,287
0.892
254,123,906
249.4
1.93
1.82
2009
 
220,908,661
0.889
248,432,497
243.8
-2.24
1.83
2010
 
231,025,568
0.905
255,237,386
250.5
2.74
1.84
2011
 
245,731,198
0.928
264,785,136
259.9
3.74
1.85
2012
 
256,284,678
0.945
271,103,178
266.1
2.39
1.84
2013
 
259,534,763
0.958
270,966,855
266.0
-0.05
1.85
2014
 
269,159,112
0.971
277,137,913
272.0
2.28
1.82
2015
 
279,385,736
0.973
287,141,426
281.8
3.61
1.81
2016
 
287,275,158
0.983
292,290,869
286.9
1.79
1.81
2017
 
297,990,490
1.000
297,990,490
292.5
1.95
1.79
2018
 
313,127,221
1.020
306,846,082
301.2
2.97
1.79
2019
 
326,386,659
1.035
315,309,825
309.5
2.76
1.78
2020
 
351,106,590
1.046
335,553,677
329.4
6.42
1.79
2021
 
387,919,266
1.090
355,885,970
349.3
6.06
1.81
2022
 
398,522,647
1.160
343,426,701
337.1
-3.50
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_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, 1969-2022
 
1969
 
791,229,000
0.189
4,190,165,758
100.0
N
1970
 
855,525,000
0.198
4,328,265,709
103.3
3.30
1971
 
924,613,000
0.206
4,487,323,465
107.1
3.67
1972
 
1,016,408,000
0.213
4,770,076,966
113.8
6.30
1973
 
1,133,468,000
0.225
5,047,731,018
120.5
5.82
1974
 
1,244,912,000
0.248
5,021,223,733
119.8
-0.53
1975
 
1,362,505,000
0.269
5,072,617,275
121.1
1.02
1976
 
1,495,704,000
0.283
5,279,017,400
126.0
4.07
1977
 
1,651,632,000
0.302
5,473,329,799
130.6
3.68
1978
 
1,855,849,000
0.323
5,749,934,936
137.2
5.05
1979
 
2,073,296,000
0.351
5,899,598,782
140.8
2.60
1980
 
2,313,972,000
0.389
5,944,235,512
141.9
0.76
1981
 
2,590,995,000
0.424
6,108,676,176
145.8
2.77
1982
 
2,777,640,000
0.448
6,204,105,336
148.1
1.56
1983
 
2,969,333,000
0.467
6,361,584,112
151.8
2.54
1984
 
3,275,415,000
0.484
6,761,937,695
161.4
6.29
1985
 
3,508,482,000
0.501
6,999,046,441
167.0
3.51
1986
 
3,717,756,000
0.512
7,258,548,586
173.2
3.71
1987
 
3,931,800,000
0.528
7,446,308,852
177.7
2.59
1988
 
4,264,433,000
0.549
7,772,592,728
185.5
4.38
1989
 
4,605,107,000
0.573
8,042,309,775
191.9
3.47
1990
 
4,897,332,000
0.598
8,192,943,538
195.5
1.87
1991
 
5,072,291,000
0.618
8,211,045,100
196.0
0.22
1992
 
5,406,546,000
0.634
8,524,985,809
203.5
3.82
1993
 
5,643,648,000
0.650
8,682,535,385
207.2
1.85
1994
 
5,933,938,000
0.664
8,942,579,420
213.4
3.00
1995
 
6,278,125,000
0.678
9,266,058,093
221.1
3.62
1996
 
6,660,854,000
0.692
9,625,094,288
229.7
3.87
1997
 
7,068,422,000
0.704
10,039,373,926
239.6
4.30
1998
 
7,584,003,000
0.710
10,686,661,406
255.0
6.45
1999
 
7,978,449,000
0.720
11,081,025,264
264.5
3.69
2000
 
8,620,234,000
0.738
11,677,052,911
278.7
5.38
2001
 
8,990,104,000
0.753
11,938,732,039
284.9
2.24
2002
 
9,146,700,000
0.763
11,989,225,466
286.1
0.42
2003
 
9,474,684,000
0.779
12,163,560,736
290.3
1.45
2004
 
10,008,929,000
0.798
12,538,275,270
299.2
3.08
2005
 
10,540,800,000
0.821
12,834,755,927
306.3
2.36
2006
 
11,291,446,000
0.844
13,372,153,008
319.1
4.19
2007
 
11,925,044,000
0.866
13,769,145,681
328.6
2.97
2008
 
12,423,410,000
0.892
13,932,275,429
332.5
1.18
2009
 
12,058,253,000
0.889
13,560,635,845
323.6
-2.67
2010
 
12,547,501,000
0.905
13,862,497,514
330.8
2.23
2011
 
13,299,818,000
0.928
14,331,082,712
342.0
3.38
2012
 
13,905,749,000
0.945
14,709,785,897
351.1
2.64
2013
 
14,063,283,000
0.958
14,682,748,144
350.4
-0.18
2014
 
14,778,160,000
0.971
15,216,235,418
363.1
3.63
2015
 
15,467,113,000
0.973
15,896,476,839
379.4
4.47
2016
 
15,884,741,000
0.983
16,162,082,333
385.7
1.67
2017
 
16,658,962,000
1.000
16,658,962,000
397.6
3.07
2018
 
17,514,402,000
1.020
17,163,073,878
409.6
3.03
2019
 
18,343,601,000
1.035
17,721,060,157
422.9
3.25
2020
 
19,609,985,000
1.046
18,741,324,605
447.3
5.76
2021
 
21,392,812,000
1.090
19,626,252,970
468.4
4.72
2022
 
21,820,248,000
1.160
18,803,588,325
448.8
-4.19
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_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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