Grand County vs. Utah
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2017
Introduction
Grand County:
2017 TPI = $479,765K
2017 Percent of State = 0.4%
Utah:
2017 TPI = $134,803,819K
2017 Percent of State = 0.8%
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 Grand County and Utah 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 2012 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Chain-Weight Implicit Price Deflator for Personal Consumption.
Data Definition:
Personal Income is the income that is received by all persons from all sources. It is calculated as the sum of wage and salary disbursements, 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. The personal income of an area is the income that is received by, or on behalf of, all the individuals who live in the area; therefore, the estimates of personal income are presented by the place of residence of the income recipients.
Grand County Total Personal Income, 1969-2017
Current vs. Constant Dollars (Millions)
Grand County Total Personal Income, 1969-2017
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Grand County's annual total personal income 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 personal income increased 1,913.0%, from $24M in 1969 to $480M in 2017. When measured in constant 2012 dollars to adjust for inflation, it advanced 279.8%, from $119M in 1969 to $452M in 2017.
Real Total Personal Income, 1969-2017 (Millions)
Real Total Personal Income, 1969-2017 (Millions)
Figure 2.
Figure 2 traces Grand County's and Utah's annual real total personal income for the period 1969-2017 to illustrate real total personal income patterns over time. During this 49-year period, Grand County's real total personal income rose from $119M in 1969 to $452M in 2017, for a net gain of $333M, or 279.8%. In comparison, Utah's real total personal income advanced from $16,901M in 1969 to $127,086M in 2017, for a net advance of $110,185M, or 651.9%.
Real Total Personal Income Indices (1969=100): 1969-2017
Real Total Personal Income Indices (1969=100): 1969-2017
Figure 3.
Figure 3 shows Grand County's real total personal income 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 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.
Grand County's overall real total personal income growth was 279.8% over 1969-2017 trailed Utah's increase of 651.9%, and fell below the United States' increase of 301.2%.
Total Personal Income as a Percent of the Utah Total: 1969-2017
Total Personal Income as a Percent of the Utah Total: 1969-2017
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Grand County is to trace its individual percentage contributions to Utah'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 Utah's total personal income, while a declining share shows it grew more slowly.
In 1969, Grand County's total personal income totaled 0.70% of Utah's total personal income, while in 2017 it totaled 0.36% thereby yielding a -0.35% share-shift.
   
 
Total Personal Income Share-Shift
2017 vs. 1969
 
Share-
Shift*
 
2017
vs.
1969
-0.35%
=
0.36%
-
0.70%
 
   
Grand County Real Total Personal Income:
Annual Percent Change, 1970-2017
Grand County Real Total Personal Income:
Annual Percent Change, 1970-2017
Figure 5.
Figure 5 highlights the short-run pattern of Grand County's real total personal income 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 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, Grand County's real total personal income grew at an annual rate of 2.98% over 1970-2017. The county recorded its highest growth in 1976 (13.91%) and recorded its lowest growth in 1982 (-11.11%). In 2017, Grand County's real total personal income grew by 6.02%
Grand County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2017
Grand County Real Total Personal Income:
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 shows the annual percent change in Grand 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, and 2010-2017.
During the 1970s, Grand County's annual real total personal income growth rate averaged 4.62%. It averaged -3.65% in the 1980s, 6.08% in the 1990s, 4.04% during the 2000s, and 4.00% thus far this decade (2010 to 2017).
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 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 personal income growth posted below Utah's average during the 1970s (4.62% vs. 5.61%), amounted to less than Utah's average throughout the 1980s (-3.65% vs. 2.98%), outperformed Utah's average throughout the 1990s (6.08% vs. 5.45%), led Utah's average in the 2000s (4.04% vs. 3.41%), and lagged Utah's average over the 8 year period of the last decade, 2010-2017 (4.00% vs. 4.09%).
Finally, relative to nationwide real total personal income growth trends, Grand County exceeded the nation over the 1970s (4.62% vs. 3.48%), trailed the nation over the 1980s (-3.65% vs. 3.18%), topped the nation during the 1990s (6.08% vs. 3.28%), outperformed the nation in the 2000s (4.04% vs. 2.07%), and outgained the nation over 2010-2017 (4.00% vs. 2.72%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.98
4.62
-3.65
6.08
4.04
4.00
6.02
 
4.32
5.61
2.98
5.45
3.41
4.09
3.16
 
2.95
3.48
3.18
3.28
2.07
2.72
2.56
 
   

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

   
 
Grand County:
Total Personal Income, 1969-2017
 
1969
 
23,833
0.200
119,076
100.0
N
0.70
1970
 
24,075
0.210
114,911
96.5
-3.50
0.64
1971
 
24,105
0.218
110,366
92.7
-3.96
0.57
1972
 
28,071
0.226
124,285
104.4
12.61
0.60
1973
 
30,023
0.238
126,136
105.9
1.49
0.57
1974
 
33,999
0.263
129,372
108.6
2.57
0.58
1975
 
38,809
0.285
136,315
114.5
5.37
0.59
1976
 
46,634
0.300
155,281
130.4
13.91
0.63
1977
 
54,262
0.320
169,643
142.5
9.25
0.65
1978
 
63,041
0.342
184,271
154.8
8.62
0.66
1979
 
68,507
0.373
183,906
154.4
-0.20
0.63
1980
 
80,319
0.413
194,656
163.5
5.85
0.66
1981
 
84,496
0.450
187,944
157.8
-3.45
0.62
1982
 
79,278
0.475
167,056
140.3
-11.11
0.53
1983
 
73,519
0.495
148,601
124.8
-11.05
0.46
1984
 
73,026
0.513
142,232
119.4
-4.29
0.41
1985
 
72,536
0.531
136,515
114.6
-4.02
0.38
1986
 
70,035
0.543
129,002
108.3
-5.50
0.35
1987
 
69,280
0.560
123,794
104.0
-4.04
0.33
1988
 
73,681
0.582
126,706
106.4
2.35
0.33
1989
 
75,974
0.607
125,184
105.1
-1.20
0.32
1990
 
81,678
0.634
128,921
108.3
2.99
0.32
1991
 
85,909
0.655
131,213
110.2
1.78
0.31
1992
 
100,145
0.672
148,985
125.1
13.54
0.33
1993
 
110,466
0.689
160,347
134.7
7.63
0.34
1994
 
121,454
0.703
172,692
145.0
7.70
0.35
1995
 
129,085
0.718
179,757
151.0
4.09
0.34
1996
 
137,053
0.733
186,858
156.9
3.95
0.33
1997
 
146,791
0.746
196,710
165.2
5.27
0.33
1998
 
158,807
0.752
211,135
177.3
7.33
0.33
1999
 
171,659
0.763
224,867
188.8
6.50
0.34
2000
 
169,665
0.782
216,866
182.1
-3.56
0.31
2001
 
187,755
0.797
235,465
197.7
8.58
0.33
2002
 
187,598
0.808
232,207
195.0
-1.38
0.32
2003
 
201,131
0.824
244,215
205.1
5.17
0.33
2004
 
214,518
0.844
254,135
213.4
4.06
0.33
2005
 
237,171
0.868
273,201
229.4
7.50
0.33
2006
 
265,026
0.892
297,201
249.6
8.78
0.33
2007
 
286,586
0.914
313,421
263.2
5.46
0.33
2008
 
311,032
0.942
330,253
277.3
5.37
0.34
2009
 
312,017
0.941
331,601
278.5
0.41
0.36
2010
 
333,410
0.957
348,373
292.6
5.06
0.37
2011
 
362,471
0.981
369,375
310.2
6.03
0.38
2012
 
379,035
1.000
379,035
318.3
2.62
0.37
2013
 
373,178
1.013
368,222
309.2
-2.85
0.35
2014
 
389,132
1.029
378,283
317.7
2.73
0.34
2015
 
411,448
1.031
398,976
335.1
5.47
0.34
2016
 
444,684
1.042
426,617
358.3
6.93
0.35
2017
 
479,765
1.061
452,297
379.8
6.02
0.36
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_300_PSN
 
   

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

   
 
Utah:
Total Personal Income, 1969-2017
 
1969
 
3,382,733
0.200
16,900,989
100.0
N
0.43
1970
 
3,766,826
0.210
17,979,218
106.4
6.38
0.44
1971
 
4,218,585
0.218
19,314,981
114.3
7.43
0.46
1972
 
4,712,891
0.226
20,866,426
123.5
8.03
0.46
1973
 
5,240,231
0.238
22,015,927
130.3
5.51
0.46
1974
 
5,862,782
0.263
22,308,912
132.0
1.33
0.47
1975
 
6,542,102
0.285
22,978,932
136.0
3.00
0.48
1976
 
7,392,847
0.300
24,616,566
145.7
7.13
0.50
1977
 
8,357,884
0.320
26,129,819
154.6
6.15
0.51
1978
 
9,600,731
0.342
28,063,287
166.0
7.40
0.52
1979
 
10,849,284
0.373
29,124,813
172.3
3.78
0.52
1980
 
12,172,076
0.413
29,499,481
174.5
1.29
0.53
1981
 
13,724,644
0.450
30,527,701
180.6
3.49
0.53
1982
 
14,915,627
0.475
31,430,435
186.0
2.96
0.54
1983
 
15,955,618
0.495
32,250,511
190.8
2.61
0.54
1984
 
17,598,302
0.513
34,275,952
202.8
6.28
0.54
1985
 
18,879,636
0.531
35,532,119
210.2
3.66
0.54
1986
 
19,816,954
0.543
36,502,034
216.0
2.73
0.53
1987
 
20,741,022
0.560
37,061,364
219.3
1.53
0.53
1988
 
22,051,776
0.582
37,921,577
224.4
2.32
0.52
1989
 
23,700,811
0.607
39,052,251
231.1
2.98
0.51
1990
 
25,737,076
0.634
40,623,591
240.4
4.02
0.53
1991
 
27,623,517
0.655
42,190,700
249.6
3.86
0.55
1992
 
29,924,984
0.672
44,519,301
263.4
5.52
0.55
1993
 
32,312,390
0.689
46,902,964
277.5
5.35
0.57
1994
 
35,050,599
0.703
49,837,337
294.9
6.26
0.59
1995
 
38,230,275
0.718
53,237,352
315.0
6.82
0.61
1996
 
41,619,496
0.733
56,744,057
335.7
6.59
0.62
1997
 
45,005,385
0.746
60,310,340
356.8
6.28
0.64
1998
 
48,123,980
0.752
63,981,041
378.6
6.09
0.63
1999
 
50,652,670
0.763
66,353,153
392.6
3.71
0.63
2000
 
54,178,312
0.782
69,250,734
409.7
4.37
0.63
2001
 
57,414,084
0.797
72,003,416
426.0
3.97
0.64
2002
 
59,048,775
0.808
73,090,117
432.5
1.51
0.64
2003
 
61,152,585
0.824
74,252,149
439.3
1.59
0.65
2004
 
65,206,580
0.844
77,248,913
457.1
4.04
0.65
2005
 
71,386,870
0.868
82,231,569
486.5
6.45
0.67
2006
 
79,437,884
0.892
89,081,889
527.1
8.33
0.70
2007
 
86,368,525
0.914
94,455,833
558.9
6.03
0.72
2008
 
90,567,138
0.942
96,163,876
569.0
1.81
0.73
2009
 
86,896,455
0.941
92,350,687
546.4
-3.97
0.72
2010
 
89,346,024
0.957
93,355,649
552.4
1.09
0.71
2011
 
96,312,302
0.981
98,146,663
580.7
5.13
0.72
2012
 
103,227,839
1.000
103,227,839
610.8
5.18
0.74
2013
 
106,612,905
1.013
105,196,954
622.4
1.91
0.75
2014
 
113,230,001
1.029
110,073,104
651.3
4.64
0.76
2015
 
121,876,444
1.031
118,182,072
699.3
7.37
0.78
2016
 
128,407,025
1.042
123,189,931
728.9
4.24
0.80
2017
 
134,803,819
1.061
127,085,893
751.9
3.16
0.80
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_300_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 Personal Income, 1969-2017
 
1969
 
791,150,000
0.200
3,952,785,411
100.0
N
1970
 
855,078,000
0.210
4,081,323,087
103.3
3.25
1971
 
923,964,000
0.218
4,230,410,696
107.0
3.65
1972
 
1,015,526,000
0.226
4,496,263,172
113.7
6.28
1973
 
1,131,213,000
0.238
4,752,596,421
120.2
5.70
1974
 
1,242,433,000
0.263
4,727,675,038
119.6
-0.52
1975
 
1,359,998,000
0.285
4,776,951,177
120.9
1.04
1976
 
1,491,506,000
0.300
4,966,389,185
125.6
3.97
1977
 
1,646,968,000
0.320
5,149,027,700
130.3
3.68
1978
 
1,851,867,000
0.342
5,413,074,742
136.9
5.13
1979
 
2,068,806,000
0.373
5,553,692,518
140.5
2.60
1980
 
2,307,005,000
0.413
5,591,112,888
141.4
0.67
1981
 
2,584,340,000
0.450
5,748,342,898
145.4
2.81
1982
 
2,767,657,000
0.475
5,832,048,635
147.5
1.46
1983
 
2,957,901,000
0.495
5,978,697,902
151.3
2.51
1984
 
3,268,535,000
0.513
6,366,077,167
161.1
6.48
1985
 
3,501,927,000
0.531
6,590,746,038
166.7
3.53
1986
 
3,712,243,000
0.543
6,837,802,542
173.0
3.75
1987
 
3,940,859,000
0.560
7,041,775,070
178.1
2.98
1988
 
4,260,753,000
0.582
7,327,050,266
185.4
4.05
1989
 
4,603,969,000
0.607
7,586,042,182
191.9
3.53
1990
 
4,890,453,000
0.634
7,719,127,141
195.3
1.75
1991
 
5,055,766,000
0.655
7,721,909,795
195.4
0.04
1992
 
5,402,109,000
0.672
8,036,699,991
203.3
4.08
1993
 
5,639,780,000
0.689
8,186,407,711
207.1
1.86
1994
 
5,930,316,000
0.703
8,432,128,537
213.3
3.00
1995
 
6,275,761,000
0.718
8,739,275,320
221.1
3.64
1996
 
6,661,697,000
0.733
9,082,563,466
229.8
3.93
1997
 
7,075,132,000
0.746
9,481,168,005
239.9
4.39
1998
 
7,588,703,000
0.752
10,089,213,731
255.2
6.41
1999
 
7,988,183,000
0.763
10,464,228,824
264.7
3.72
2000
 
8,634,847,000
0.782
11,037,063,974
279.2
5.47
2001
 
9,001,839,000
0.797
11,289,271,113
285.6
2.29
2002
 
9,155,663,000
0.808
11,332,808,922
286.7
0.39
2003
 
9,480,901,000
0.824
11,511,815,488
291.2
1.58
2004
 
10,028,781,000
0.844
11,880,893,485
300.6
3.21
2005
 
10,593,946,000
0.868
12,203,319,818
308.7
2.71
2006
 
11,372,589,000
0.892
12,753,256,555
322.6
4.51
2007
 
12,002,204,000
0.914
13,126,057,000
332.1
2.92
2008
 
12,438,527,000
0.942
13,207,185,177
334.1
0.62
2009
 
12,051,307,000
0.941
12,807,731,630
324.0
-3.02
2010
 
12,541,995,000
0.957
13,104,848,232
331.5
2.32
2011
 
13,315,478,000
0.981
13,569,084,183
343.3
3.54
2012
 
13,998,383,000
1.000
13,998,383,000
354.1
3.16
2013
 
14,175,503,000
1.013
13,987,234,819
353.9
-0.08
2014
 
14,983,140,000
1.029
14,565,404,207
368.5
4.13
2015
 
15,711,634,000
1.031
15,235,376,142
385.4
4.60
2016
 
16,115,630,000
1.042
15,460,862,474
391.1
1.48
2017
 
16,820,250,000
1.061
15,857,239,825
401.2
2.56
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_300_PN
 
   
Copyright © 2019. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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