Grand County vs. Utah
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2017
Introduction
Grand County:
2017 Earnings = $304,064K
2017 Percent of State = 0.3%
Utah:
2017 Earnings = $100,694,606K
2017 Percent of State = 0.8%
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.
Grand County Total Industry Earnings, 1969-2017
Current vs. Constant Dollars (Millions)
Grand County Total Industry Earnings, 1969-2017
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Grand County's annual total industry earnings over 1969-2017 in current and constant (2012) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Grand County over time.
When measured in current dollars, Grand County's total industry earnings increased 1,363.1%, from $21M in 1969 to $304M in 2017. When measured in constant 2012 dollars to adjust for inflation, it advanced 176.1%, from $104M in 1969 to $287M in 2017.
Real Total Industry Earnings, 1969-2017 (Millions)
Real Total Industry Earnings, 1969-2017 (Millions)
Figure 2.
Figure 2 traces Grand County's and Utah's annual real total industry earnings for the period 1969-2017 to illustrate real total industry earnings patterns over time. During this 49-year period, Grand County's real total industry earnings rose from $104M in 1969 to $287M in 2017, for a net gain of $183M, or 176.1%. In comparison, Utah's real total industry earnings increased from $14,159M in 1969 to $94,930M in 2017, for a net gain of $80,770M, or 570.4%.
Real Total Industry Earnings Indices (1969=100): 1969-2017
Real Total Industry Earnings Indices (1969=100): 1969-2017
Figure 3.
Figure 3 shows Grand 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.
Grand County's overall real total industry earnings growth was 176.1% over 1969-2017 trailed Utah's increase of 570.4%, and fell below the United States' increase of 242.6%.
Total Industry Earnings as a Percent of the Utah Total: 1969-2017
Total Industry Earnings as a Percent of the Utah Total: 1969-2017
Figure 4.
Another interesting and insightful way of contrasting the total industry earnings growth of Grand 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, Grand County's total industry earnings comprised 0.73% of Utah's total industry earnings, while in 2017 it totaled 0.30% thereby yielding a -0.43% share-shift.
   
 
Total Industry Earnings Share-Shift
2017 vs. 1969
 
Share-
Shift*
 
2017
vs.
1969
-0.43%
=
0.30%
-
0.73%
 
   
Grand County Real Total Industry Earnings:
Annual Percent Change, 1970-2017
Grand County Real Total Industry Earnings:
Annual Percent Change, 1970-2017
Figure 5.
Figure 5 shows the short-run pattern of Grand County's real total industry earnings growth by tracking the year-to-year percent change over 1970-2017. The average annual percent change for the entire 48-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, Grand County's real total industry earnings grew at an annual rate of 2.40% over 1970-2017. The county recorded its highest growth in 1992 (17.24%) and recorded its lowest growth in 1982 (-16.55%). In 2017, Grand County's real total industry earnings grew by 8.97%
Grand County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2017
Grand County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2017
Figure 6.
Over the past four decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again traces the annual percent change in Grand 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, and 2010-2017.
During the 1970s, Grand County's annual real total industry earnings growth rate averaged 3.52%. It averaged -4.88% throughout the 1980s, 7.29% throughout the 1990s, 3.27% throughout the 2000s, and 2.94% thus far this decade (2010 to 2017).
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 Grand County noted in the previous graph with the corresponding decade averages for Utah and the nation. As the chart reveals, Grand County's average annual real total industry earnings growth amounted to less than Utah's average in the 1970s (3.52% vs. 5.55%), fell below Utah's average in the 1980s (-4.88% vs. 2.49%), led Utah's average during the 1990s (7.29% vs. 5.75%), outgained Utah's average throughout the 2000s (3.27% vs. 2.63%), and recorded under Utah's average over the 8 year period of the last decade, 2010-2017 (2.94% vs. 3.95%).
Finally, relative to nationwide real total industry earnings growth trends, Grand County exceeded the nation during the 1970s (3.52% vs. 3.13%), lagged the nation over the 1980s (-4.88% vs. 2.61%), exceeded the nation throughout the 1990s (7.29% vs. 3.44%), outpaced the nation throughout the 2000s (3.27% vs. 1.47%), and recorded above the nation over 2010-2017 (2.94% vs. 2.46%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.40
3.52
-4.88
7.29
3.27
2.94
8.97
 
4.08
5.55
2.49
5.75
2.63
3.95
3.71
 
2.63
3.13
2.61
3.44
1.47
2.46
2.86
 
   

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

   
 
Grand County:
Total Industry Earnings, 1969-2017
 
1969
 
20,782
0.200
103,832
100.0
N
0.73
1970
 
20,115
0.210
96,010
92.5
-7.53
0.65
1971
 
19,427
0.218
88,947
85.7
-7.36
0.56
1972
 
22,626
0.226
100,177
96.5
12.63
0.59
1973
 
24,118
0.238
101,328
97.6
1.15
0.56
1974
 
26,935
0.263
102,492
98.7
1.15
0.56
1975
 
30,343
0.285
106,579
102.6
3.99
0.57
1976
 
37,463
0.300
124,744
120.1
17.04
0.62
1977
 
43,338
0.320
135,491
130.5
8.62
0.63
1978
 
50,327
0.342
147,108
141.7
8.57
0.63
1979
 
53,124
0.373
142,611
137.3
-3.06
0.59
1980
 
62,853
0.413
152,327
146.7
6.81
0.63
1981
 
63,965
0.450
142,277
137.0
-6.60
0.58
1982
 
56,343
0.475
118,727
114.3
-16.55
0.48
1983
 
50,047
0.495
101,158
97.4
-14.80
0.40
1984
 
49,409
0.513
96,233
92.7
-4.87
0.35
1985
 
48,466
0.531
91,215
87.8
-5.21
0.32
1986
 
45,082
0.543
83,039
80.0
-8.96
0.29
1987
 
45,274
0.560
80,898
77.9
-2.58
0.28
1988
 
50,065
0.582
86,095
82.9
6.42
0.29
1989
 
50,956
0.607
83,961
80.9
-2.48
0.27
1990
 
54,490
0.634
86,007
82.8
2.44
0.27
1991
 
60,311
0.655
92,116
88.7
7.10
0.27
1992
 
72,596
0.672
108,001
104.0
17.24
0.30
1993
 
84,129
0.689
122,117
117.6
13.07
0.32
1994
 
90,741
0.703
129,022
124.3
5.65
0.32
1995
 
93,843
0.718
130,681
125.9
1.29
0.31
1996
 
97,731
0.733
133,247
128.3
1.96
0.29
1997
 
105,705
0.746
141,652
136.4
6.31
0.29
1998
 
114,405
0.752
152,102
146.5
7.38
0.30
1999
 
128,213
0.763
167,954
161.8
10.42
0.31
2000
 
118,712
0.782
151,738
146.1
-9.66
0.27
2001
 
132,425
0.797
166,075
159.9
9.45
0.29
2002
 
136,546
0.808
169,016
162.8
1.77
0.29
2003
 
145,038
0.824
176,107
169.6
4.20
0.30
2004
 
154,449
0.844
182,973
176.2
3.90
0.30
2005
 
169,890
0.868
195,699
188.5
6.96
0.30
2006
 
192,641
0.892
216,028
208.1
10.39
0.31
2007
 
200,177
0.914
218,921
210.8
1.34
0.30
2008
 
215,270
0.942
228,573
220.1
4.41
0.31
2009
 
214,878
0.941
228,365
219.9
-0.09
0.33
2010
 
230,584
0.957
240,932
232.0
5.50
0.34
2011
 
241,062
0.981
245,653
236.6
1.96
0.34
2012
 
252,339
1.000
252,339
243.0
2.72
0.33
2013
 
246,406
1.013
243,133
234.2
-3.65
0.31
2014
 
254,785
1.029
247,681
238.5
1.87
0.30
2015
 
264,456
1.031
256,440
247.0
3.54
0.29
2016
 
274,210
1.042
263,069
253.4
2.59
0.29
2017
 
304,064
1.061
286,655
276.1
8.97
0.30
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 2018
REAP_PI_CA1400_1200_PSN
 
   

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

   
 
Utah:
Total Industry Earnings, 1969-2017
 
1969
 
2,833,962
0.200
14,159,191
100.0
N
0.43
1970
 
3,111,862
0.210
14,853,048
104.9
4.90
0.45
1971
 
3,452,305
0.218
15,806,534
111.6
6.42
0.46
1972
 
3,866,219
0.226
17,117,768
120.9
8.30
0.47
1973
 
4,342,914
0.238
18,246,005
128.9
6.59
0.47
1974
 
4,837,472
0.263
18,407,428
130.0
0.88
0.49
1975
 
5,319,425
0.285
18,684,317
132.0
1.50
0.50
1976
 
6,086,596
0.300
20,267,035
143.1
8.47
0.52
1977
 
6,930,034
0.320
21,665,835
153.0
6.90
0.53
1978
 
7,978,934
0.342
23,322,715
164.7
7.65
0.54
1979
 
9,022,656
0.373
24,221,245
171.1
3.85
0.55
1980
 
9,942,235
0.413
24,095,378
170.2
-0.52
0.56
1981
 
11,089,090
0.450
24,665,443
174.2
2.37
0.56
1982
 
11,781,535
0.475
24,826,229
175.3
0.65
0.57
1983
 
12,526,894
0.495
25,320,156
178.8
1.99
0.57
1984
 
13,940,645
0.513
27,151,988
191.8
7.23
0.57
1985
 
14,915,209
0.531
28,070,932
198.3
3.38
0.57
1986
 
15,619,414
0.543
28,770,333
203.2
2.49
0.56
1987
 
16,329,093
0.560
29,177,852
206.1
1.42
0.54
1988
 
17,534,837
0.582
30,153,973
213.0
3.35
0.54
1989
 
18,768,984
0.607
30,925,991
218.4
2.56
0.54
1990
 
20,557,803
0.634
32,448,588
229.2
4.92
0.56
1991
 
22,159,293
0.655
33,844,933
239.0
4.30
0.58
1992
 
24,141,125
0.672
35,914,673
253.6
6.12
0.59
1993
 
26,105,253
0.689
37,893,011
267.6
5.51
0.62
1994
 
28,356,507
0.703
40,319,219
284.8
6.40
0.64
1995
 
30,638,859
0.718
42,665,969
301.3
5.82
0.65
1996
 
33,227,066
0.733
45,301,811
319.9
6.18
0.67
1997
 
36,100,168
0.746
48,376,731
341.7
6.79
0.68
1998
 
38,755,682
0.752
51,525,848
363.9
6.51
0.68
1999
 
41,265,557
0.763
54,056,377
381.8
4.91
0.68
2000
 
43,792,598
0.782
55,975,712
395.3
3.55
0.66
2001
 
45,587,013
0.797
57,171,001
403.8
2.14
0.66
2002
 
46,607,033
0.808
57,689,825
407.4
0.91
0.67
2003
 
48,158,211
0.824
58,474,236
413.0
1.36
0.66
2004
 
51,876,141
0.844
61,456,612
434.0
5.10
0.68
2005
 
56,032,742
0.868
64,544,927
455.9
5.03
0.70
2006
 
62,659,662
0.892
70,266,739
496.3
8.86
0.74
2007
 
67,274,886
0.914
73,574,319
519.6
4.71
0.76
2008
 
68,550,328
0.942
72,786,502
514.1
-1.07
0.76
2009
 
65,579,661
0.941
69,695,901
492.2
-4.25
0.75
2010
 
66,942,000
0.957
69,946,189
494.0
0.36
0.74
2011
 
71,059,544
0.981
72,412,942
511.4
3.53
0.75
2012
 
76,464,478
1.000
76,464,478
540.0
5.60
0.77
2013
 
80,397,306
1.013
79,329,531
560.3
3.75
0.79
2014
 
84,826,510
1.029
82,461,514
582.4
3.95
0.79
2015
 
90,342,679
1.031
87,604,173
618.7
6.24
0.81
2016
 
95,406,502
1.042
91,530,198
646.4
4.48
0.84
2017
 
100,694,606
1.061
94,929,535
670.4
3.71
0.85
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 2018
REAP_PI_CA1400_1200_PSN
 
   

Tip: 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, 1969-2017
 
1969
 
655,222,000
0.200
3,273,654,759
100.0
N
1970
 
695,122,000
0.210
3,317,846,404
101.3
1.35
1971
 
744,129,000
0.218
3,407,028,067
104.1
2.69
1972
 
821,953,000
0.226
3,639,214,558
111.2
6.81
1973
 
921,321,000
0.238
3,870,771,364
118.2
6.36
1974
 
996,515,000
0.263
3,791,914,003
115.8
-2.04
1975
 
1,062,436,000
0.285
3,731,773,797
114.0
-1.59
1976
 
1,176,158,000
0.300
3,916,349,228
119.6
4.95
1977
 
1,306,927,000
0.320
4,085,934,471
124.8
4.33
1978
 
1,479,559,000
0.342
4,324,804,887
132.1
5.85
1979
 
1,652,190,000
0.373
4,435,290,328
135.5
2.55
1980
 
1,788,607,000
0.413
4,334,755,950
132.4
-2.27
1981
 
1,963,955,000
0.450
4,368,421,638
133.4
0.78
1982
 
2,055,057,000
0.475
4,330,447,151
132.3
-0.87
1983
 
2,189,442,000
0.495
4,425,439,625
135.2
2.19
1984
 
2,433,929,000
0.513
4,740,527,433
144.8
7.12
1985
 
2,617,433,000
0.531
4,926,098,167
150.5
3.91
1986
 
2,788,677,000
0.543
5,136,631,055
156.9
4.27
1987
 
2,997,904,000
0.560
5,356,843,685
163.6
4.29
1988
 
3,262,349,000
0.582
5,610,133,962
171.4
4.73
1989
 
3,470,801,000
0.607
5,718,900,972
174.7
1.94
1990
 
3,683,053,000
0.634
5,813,358,062
177.6
1.65
1991
 
3,792,707,000
0.655
5,792,780,230
177.0
-0.35
1992
 
4,064,120,000
0.672
6,046,178,107
184.7
4.37
1993
 
4,243,356,000
0.689
6,159,432,155
188.2
1.87
1994
 
4,463,755,000
0.703
6,346,871,890
193.9
3.04
1995
 
4,682,699,000
0.718
6,520,865,884
199.2
2.74
1996
 
4,964,951,000
0.733
6,769,218,499
206.8
3.81
1997
 
5,297,835,000
0.746
7,099,466,652
216.9
4.88
1998
 
5,717,821,000
0.752
7,601,867,954
232.2
7.08
1999
 
6,109,679,000
0.763
8,003,456,994
244.5
5.28
2000
 
6,611,246,000
0.782
8,450,496,581
258.1
5.59
2001
 
6,865,291,000
0.797
8,609,810,881
263.0
1.89
2002
 
7,001,130,000
0.808
8,665,944,621
264.7
0.65
2003
 
7,243,665,000
0.824
8,795,338,644
268.7
1.49
2004
 
7,675,133,000
0.844
9,092,574,428
277.7
3.38
2005
 
8,039,648,000
0.868
9,260,986,960
282.9
1.85
2006
 
8,519,777,000
0.892
9,554,104,335
291.8
3.17
2007
 
8,866,784,000
0.914
9,697,044,992
296.2
1.50
2008
 
9,013,458,000
0.942
9,570,458,696
292.3
-1.31
2009
 
8,688,446,000
0.941
9,233,793,866
282.1
-3.52
2010
 
9,023,198,000
0.957
9,428,136,461
288.0
2.10
2011
 
9,443,528,000
0.981
9,623,389,143
294.0
2.07
2012
 
9,901,882,000
1.000
9,901,882,000
302.5
2.89
2013
 
10,231,478,000
1.013
10,095,591,341
308.4
1.96
2014
 
10,686,606,000
1.029
10,388,659,253
317.3
2.90
2015
 
11,110,111,000
1.031
10,773,336,501
329.1
3.70
2016
 
11,365,731,000
1.042
10,903,948,770
333.1
1.21
2017
 
11,897,410,000
1.061
11,216,247,301
342.6
2.86
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 2018
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2019. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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