Box Elder County vs. Utah
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Box Elder County vs. Utah
Box Elder County:
2022 Earnings = $1,866,340K
2022 Percent of State = 1.26%
Utah:
2022 Earnings = $147,787,924K
2022 Percent of U.S. = 0.97%
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.
Box Elder County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Box Elder County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Box Elder 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 Box Elder County over time.
When measured in current dollars, Box Elder County's total industry earnings increased 2,514.03%, from $71M in 1970 to $1,866M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 345.26%, from $361M in 1970 to $1,608M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Box Elder County's and Utah'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, Box Elder County's real total industry earnings rose from $352M in 1969 to $1,608M in 2022, for a net gain of $1,256M, or 356.33%. In comparison, Utah's real total industry earnings increased from $14,960M in 1969 to $127,356M in 2022, for a net advance of $112,396M, or 751.31%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Box Elder County's real total industry earnings growth in a broader context by offering direct comparisons across time with Utah, 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.
Box Elder County's overall real total industry earnings growth was 356.33% over 1969-2022 trailed Utah's increase of 751.31%, and topped the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Utah Total: 1969-2022
Total Industry Earnings as a Percent of the Utah Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total industry earnings growth of Box Elder County is to compare its individual percentage contributions to Utah'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 Utah's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Box Elder County's total industry earnings totaled 2.36% of Utah's total industry earnings, while in 2022 it equated to 1.26% thereby yielding a -1.09% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-1.09%
=
1.26%
-
2.36%
 
   
Box Elder County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Box Elder County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Box Elder 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, Box Elder County's real total industry earnings grew at an annual rate of 3.02% over 1970-2022. The county recorded its highest growth in 1972 (13.02%) and recorded its lowest growth in 2011 (-10.11%). In 2022, Box Elder County's real total industry earnings grew by 4.22%
Box Elder County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Box Elder 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 Box Elder 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, Box Elder County's annual real total industry earnings growth rate averaged 4.76%. It averaged 5.93% in the 1980s, 1.31% in the 1990s, 1.04% during the 2000s, 1.19% in the 2010s, 5.91% 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 Box Elder County noted in the previous graph with the corresponding decade averages for Utah and the nation. As the chart reveals, Box Elder County's average annual real total industry earnings growth amounted to less than Utah's average in the 1970s (4.76% vs. 5.55%), registered above Utah's average in the 1980s (5.93% vs. 2.51%), posted below Utah's average in the 1990s (1.31% vs. 5.74%), posted below Utah's average throughout the 2000s (1.04% vs. 2.64%), lagged Utah's average throughout the 2010s (1.19% vs. 4.32%), and outpaced Utah's average over the 3 year period of the current decade, 2020-2022 (5.91% vs. 4.25%).
Finally, relative to nationwide real total industry earnings growth trends, Box Elder County registered above the nation over the 1970s (4.76% vs. 3.13%), surpassed the nation during the 1980s (5.93% vs. 2.62%), recorded underneath the nation throughout the 1990s (1.31% vs. 3.43%), fell under the nation throughout the 2000s (1.04% vs. 1.47%), lagged the nation throughout the 2010s (1.19% vs. 2.53%), and recorded above the nation over 2020-2022 (5.91% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.02
4.76
5.93
1.31
1.04
1.19
5.91
4.22
 
4.16
5.55
2.51
5.74
2.64
4.32
4.25
1.86
 
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.

   
 
Box Elder County:
Total Industry Earnings, 1969-2022
 
1969
 
66,553
0.189
352,449
100.0
N
2.36
1970
 
71,397
0.198
361,211
102.5
2.49
2.30
1971
 
75,949
0.206
368,595
104.6
2.04
2.21
1972
 
88,768
0.213
416,595
118.2
13.02
2.30
1973
 
99,478
0.225
443,010
125.7
6.34
2.30
1974
 
110,979
0.248
447,622
127.0
1.04
2.30
1975
 
114,772
0.269
427,297
121.2
-4.54
2.17
1976
 
129,012
0.283
455,342
129.2
6.56
2.13
1977
 
143,788
0.302
476,498
135.2
4.65
2.08
1978
 
166,464
0.323
515,752
146.3
8.24
2.09
1979
 
195,402
0.351
556,020
157.8
7.81
2.17
1980
 
219,804
0.389
564,642
160.2
1.55
2.22
1981
 
254,204
0.424
599,326
170.0
6.14
2.30
1982
 
276,353
0.448
617,259
175.1
2.99
2.35
1983
 
313,098
0.467
670,790
190.3
8.67
2.50
1984
 
354,304
0.484
731,444
207.5
9.04
2.54
1985
 
394,322
0.501
786,630
223.2
7.54
2.65
1986
 
434,133
0.512
847,601
240.5
7.75
2.78
1987
 
505,418
0.528
957,195
271.6
12.93
3.10
1988
 
541,645
0.549
987,232
280.1
3.14
3.09
1989
 
562,416
0.573
982,197
278.7
-0.51
3.00
1990
 
582,864
0.598
975,097
276.7
-0.72
2.84
1991
 
600,421
0.618
971,964
275.8
-0.32
2.71
1992
 
652,873
0.634
1,029,443
292.1
5.91
2.71
1993
 
675,275
0.650
1,038,885
294.8
0.92
2.59
1994
 
691,719
0.664
1,042,436
295.8
0.34
2.44
1995
 
718,335
0.678
1,060,210
300.8
1.71
2.35
1996
 
757,212
0.692
1,094,190
310.5
3.20
2.28
1997
 
796,564
0.704
1,131,370
321.0
3.40
2.21
1998
 
834,494
0.710
1,175,890
333.6
3.94
2.16
1999
 
801,720
0.720
1,113,485
315.9
-5.31
1.95
2000
 
809,806
0.738
1,096,971
311.2
-1.48
1.85
2001
 
830,798
0.753
1,103,288
313.0
0.58
1.82
2002
 
834,576
0.763
1,093,938
310.4
-0.85
1.79
2003
 
871,658
0.779
1,119,031
317.5
2.29
1.81
2004
 
913,466
0.798
1,144,307
324.7
2.26
1.76
2005
 
975,360
0.821
1,187,624
337.0
3.79
1.74
2006
 
1,039,936
0.844
1,231,568
349.4
3.70
1.66
2007
 
1,104,807
0.866
1,275,656
361.9
3.58
1.64
2008
 
1,186,314
0.892
1,330,396
377.5
4.29
1.73
2009
 
1,091,261
0.889
1,227,225
348.2
-7.75
1.66
2010
 
1,033,280
0.905
1,141,569
323.9
-6.98
1.55
2011
 
952,313
0.928
1,026,155
291.1
-10.11
1.34
2012
 
910,574
0.945
963,224
273.3
-6.13
1.20
2013
 
1,000,158
0.958
1,044,213
296.3
8.41
1.25
2014
 
1,050,377
0.971
1,081,514
306.9
3.57
1.25
2015
 
1,101,439
0.973
1,132,015
321.2
4.67
1.23
2016
 
1,163,224
0.983
1,183,533
335.8
4.55
1.23
2017
 
1,222,095
1.000
1,222,095
346.7
3.26
1.21
2018
 
1,287,003
1.020
1,261,187
357.8
3.20
1.19
2019
 
1,402,493
1.035
1,354,896
384.4
7.43
1.20
2020
 
1,478,981
1.046
1,413,467
401.0
4.32
1.19
2021
 
1,682,100
1.090
1,543,197
437.8
9.18
1.23
2022
 
1,866,340
1.160
1,608,318
456.3
4.22
1.26
Source: Calculations by the Utah Regional Economic Analysis Project (UT-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.

   
 
Utah:
Total Industry Earnings, 1969-2022
 
1969
 
2,824,888
0.189
14,959,953
100.0
N
0.43
1970
 
3,101,325
0.198
15,690,200
104.9
4.88
0.45
1971
 
3,440,027
0.206
16,695,108
111.6
6.40
0.46
1972
 
3,852,021
0.213
18,077,816
120.8
8.28
0.47
1973
 
4,327,870
0.225
19,273,525
128.8
6.61
0.47
1974
 
4,820,476
0.248
19,442,891
130.0
0.88
0.49
1975
 
5,299,370
0.269
19,729,598
131.9
1.47
0.50
1976
 
6,066,047
0.283
21,409,830
143.1
8.52
0.52
1977
 
6,905,851
0.302
22,885,243
153.0
6.89
0.53
1978
 
7,951,678
0.323
24,636,504
164.7
7.65
0.54
1979
 
8,992,968
0.351
25,589,642
171.1
3.87
0.55
1980
 
9,911,184
0.389
25,460,296
170.2
-0.51
0.56
1981
 
11,067,375
0.424
26,093,068
174.4
2.49
0.56
1982
 
11,770,775
0.448
26,291,070
175.7
0.76
0.57
1983
 
12,514,990
0.467
26,812,473
179.2
1.98
0.57
1984
 
13,927,640
0.484
28,752,947
192.2
7.24
0.57
1985
 
14,901,149
0.501
29,726,199
198.7
3.38
0.57
1986
 
15,604,262
0.512
30,465,769
203.6
2.49
0.56
1987
 
16,312,530
0.528
30,893,773
206.5
1.40
0.54
1988
 
17,515,595
0.549
31,924,897
213.4
3.34
0.54
1989
 
18,740,587
0.573
32,728,361
218.8
2.52
0.54
1990
 
20,532,648
0.598
34,349,892
229.6
4.95
0.56
1991
 
22,137,775
0.618
35,836,719
239.6
4.33
0.58
1992
 
24,105,844
0.634
38,009,845
254.1
6.06
0.59
1993
 
26,063,148
0.650
40,097,151
268.0
5.49
0.62
1994
 
28,307,393
0.664
42,659,885
285.2
6.39
0.64
1995
 
30,583,235
0.678
45,138,641
301.7
5.81
0.65
1996
 
33,164,474
0.692
47,923,463
320.3
6.17
0.67
1997
 
36,028,514
0.704
51,171,778
342.1
6.78
0.68
1998
 
38,657,871
0.710
54,473,024
364.1
6.45
0.68
1999
 
41,176,495
0.720
57,188,782
382.3
4.99
0.68
2000
 
43,743,721
0.738
59,255,670
396.1
3.61
0.66
2001
 
45,587,013
0.753
60,538,914
404.7
2.17
0.66
2002
 
46,615,654
0.763
61,102,429
408.4
0.93
0.67
2003
 
48,163,688
0.779
61,832,347
413.3
1.19
0.66
2004
 
51,887,238
0.798
64,999,609
434.5
5.12
0.68
2005
 
56,045,896
0.821
68,242,960
456.2
4.99
0.70
2006
 
62,649,588
0.844
74,194,207
496.0
8.72
0.74
2007
 
67,268,276
0.866
77,670,715
519.2
4.69
0.76
2008
 
68,572,716
0.892
76,901,106
514.0
-0.99
0.76
2009
 
65,615,026
0.889
73,790,248
493.3
-4.05
0.76
2010
 
66,867,077
0.905
73,874,845
493.8
0.11
0.74
2011
 
70,936,087
0.928
76,436,454
510.9
3.47
0.75
2012
 
75,863,766
0.945
80,250,244
536.4
4.99
0.77
2013
 
79,842,832
0.958
83,359,781
557.2
3.87
0.78
2014
 
84,074,782
0.971
86,567,047
578.7
3.85
0.79
2015
 
89,799,378
0.973
92,292,190
616.9
6.61
0.81
2016
 
94,865,976
0.983
96,522,299
645.2
4.58
0.84
2017
 
100,780,473
1.000
100,780,473
673.7
4.41
0.85
2018
 
108,529,513
1.020
106,352,478
710.9
5.53
0.87
2019
 
116,390,075
1.035
112,440,056
751.6
5.72
0.90
2020
 
124,547,300
1.046
119,030,248
795.7
5.86
0.95
2021
 
136,289,757
1.090
125,035,327
835.8
5.05
0.95
2022
 
147,787,924
1.160
127,356,173
851.3
1.86
0.97
Source: Calculations by the Utah Regional Economic Analysis Project (UT-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 Utah Regional Economic Analysis Project (UT-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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