Portsmouth City vs. Virginia
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Portsmouth City vs. Virginia
Portsmouth City:
2022 PCI = $46,025
2022 Percent of State = 66.72%
Virginia:
2022 PCI = $68,985
Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives.
Data Definition:
This measure of income is calculated as the total personal income of the residents of an area divided by the population of the area. Per capita personal income is often used as an indicator of consumers' purchasing power and of the economic well-being of the residents of an area.
Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year.
For smaller counties in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant.
Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent counties may exhibit sharp fluctuations over time.
The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation.
Portsmouth City Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Portsmouth City Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Portsmouth City's annual per capita 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 Portsmouth City over time.
When measured in current dollars, Portsmouth City's per capita personal income increased 1,184.60%, from $3,583 in 1970 to $46,025 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 118.81%, from $18,126 in 1970 to $39,662 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 tracks Portsmouth City's and Virginia's annual real per capita personal income for the period 1969-2022 to illustrate real per capita personal income patterns over time. During this 54-year period, Portsmouth City's real per capita personal income rose from $16,877 in 1969 to $39,662 in 2022, for a net gain of $22,785, or 135.00%. In comparison, Virginia's real per capita personal income advanced from $20,485 in 1969 to $59,448 in 2022, for a net advance of $38,963, or 190.21%.
Portsmouth City Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Portsmouth City Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 3.
Figure 3 shows the short-run pattern of Portsmouth City's real per capita 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 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, Portsmouth City's real per capita personal income grew at an annual rate of 1.66% over 1970-2022. The independent city posted its highest growth in 1972 (8.29%) and recorded its lowest growth in 2022 (-5.66%). In 2022, Portsmouth City's real per capita personal income declined by -5.66%
Portsmouth City Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Portsmouth City Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 4.
Over the past five decades some independent cities have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 4 again depicts the annual percent change in Portsmouth City's real per capita 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, Portsmouth City's annual real per capita personal income growth rate averaged 3.53%. It averaged 1.43% throughout the 1980s, 0.78% during the 1990s, 2.46% in the 2000s, 0.25% during the 2010s, 1.13% thus far this decade (2020-2022).
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Figure 5.
Figure 5 compares the decade average growth rates for Portsmouth City noted in the previous graph with the corresponding decade averages for Virginia and the nation. As the chart reveals, Portsmouth City's average annual real per capita personal income growth recorded above Virginia's average in the 1970s (3.53% vs. 2.75%), amounted to less than Virginia's average during the 1980s (1.43% vs. 2.75%), amounted to less than Virginia's average throughout the 1990s (0.78% vs. 1.93%), outperformed Virginia's average throughout the 2000s (2.46% vs. 1.58%), posted below Virginia's average during the 2010s (0.25% vs. 1.31%), and amounted to less than Virginia's average over the 3 year period of the current decade, 2020-2022 (1.13% vs. 1.84%).
Finally, relative to nationwide real per capita personal income growth trends, Portsmouth City registered above the nation during the 1970s (3.53% vs. 2.37%), fell under the nation over the 1980s (1.43% vs. 2.19%), fell under the nation during the 1990s (0.78% vs. 2.01%), outgained the nation over the 2000s (2.46% vs. 1.10%), recorded underneath the nation in the 2010s (0.25% vs. 1.97%), and posted below the nation over 2020-2022 (1.13% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
1.66
3.53
1.43
0.78
2.46
0.25
1.13
-5.66
 
2.05
2.75
2.75
1.93
1.58
1.31
1.84
-3.05
 
1.92
2.37
2.19
2.01
1.10
1.97
1.78
-4.55
 
   

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

   
 
Portsmouth City:
Per Capita Personal Income, 1969-2022
 
1969
 
3,187
0.189
16,877
100.0
N
82.39
81.08
1970
 
3,583
0.198
18,126
107.4
7.40
86.19
85.35
1971
 
3,899
0.206
18,920
112.1
4.38
86.54
87.20
1972
 
4,366
0.213
20,490
121.4
8.29
88.70
89.89
1973
 
4,607
0.225
20,515
121.6
0.12
84.93
85.90
1974
 
5,170
0.248
20,851
123.5
1.64
87.27
88.59
1975
 
5,662
0.269
21,080
124.9
1.10
88.42
89.54
1976
 
6,112
0.283
21,573
127.8
2.34
87.70
88.90
1977
 
6,711
0.302
22,240
131.8
3.09
88.15
89.30
1978
 
7,437
0.323
23,043
136.5
3.61
87.35
89.01
1979
 
8,369
0.351
23,816
141.1
3.35
88.80
90.65
1980
 
9,432
0.389
24,230
143.6
1.74
89.23
92.62
1981
 
10,309
0.424
24,306
144.0
0.31
88.18
91.30
1982
 
10,910
0.448
24,369
144.4
0.26
87.10
91.00
1983
 
11,553
0.467
24,753
146.7
1.57
86.58
90.97
1984
 
12,318
0.484
25,429
150.7
2.73
84.22
88.69
1985
 
12,916
0.501
25,766
152.7
1.32
82.69
87.59
1986
 
13,759
0.512
26,863
159.2
4.26
83.03
88.87
1987
 
14,041
0.528
26,592
157.6
-1.01
80.29
86.52
1988
 
14,786
0.549
26,950
159.7
1.35
78.40
84.78
1989
 
15,702
0.573
27,422
162.5
1.75
78.03
84.16
1990
 
15,978
0.598
26,730
158.4
-2.52
76.67
81.44
1991
 
16,549
0.618
26,789
158.7
0.22
77.14
82.54
1992
 
17,151
0.634
27,043
160.2
0.95
76.60
81.37
1993
 
17,641
0.650
27,140
160.8
0.36
76.11
81.25
1994
 
17,677
0.664
26,640
157.8
-1.84
73.40
78.39
1995
 
18,338
0.678
27,065
160.4
1.60
73.32
77.78
1996
 
19,008
0.692
27,468
162.7
1.49
73.29
76.88
1997
 
19,980
0.704
28,378
168.1
3.32
73.11
77.07
1998
 
20,715
0.710
29,190
173.0
2.86
71.52
75.35
1999
 
21,309
0.720
29,595
175.4
1.39
69.70
74.53
2000
 
22,390
0.738
30,330
179.7
2.48
68.62
73.29
2001
 
23,784
0.753
31,584
187.1
4.14
70.07
75.39
2002
 
25,495
0.763
33,418
198.0
5.81
73.91
80.17
2003
 
27,611
0.779
35,447
210.0
6.07
76.38
84.54
2004
 
28,624
0.798
35,858
212.5
1.16
75.16
83.74
2005
 
29,345
0.821
35,732
211.7
-0.35
73.31
82.27
2006
 
30,214
0.844
35,782
212.0
0.14
71.66
79.84
2007
 
31,978
0.866
36,924
218.8
3.19
72.64
80.78
2008
 
33,333
0.892
37,381
221.5
1.24
73.45
81.59
2009
 
33,479
0.889
37,650
223.1
0.72
75.93
85.17
2010
 
34,543
0.905
38,163
226.1
1.36
76.01
85.17
2011
 
35,708
0.928
38,477
228.0
0.82
75.07
83.73
2012
 
35,015
0.945
37,040
219.5
-3.74
71.38
79.15
2013
 
34,774
0.958
36,306
215.1
-1.98
72.15
78.32
2014
 
35,157
0.971
36,199
214.5
-0.29
70.65
75.95
2015
 
35,920
0.973
36,917
218.7
1.98
69.58
74.74
2016
 
36,063
0.983
36,692
217.4
-0.61
68.48
73.64
2017
 
37,738
1.000
37,738
223.6
2.85
69.40
73.99
2018
 
38,068
1.020
37,305
221.0
-1.15
67.82
71.41
2019
 
39,852
1.035
38,499
228.1
3.20
68.28
71.74
2020
 
43,042
1.046
41,135
243.7
6.85
70.02
72.76
2021
 
45,825
1.090
42,041
249.1
2.20
68.56
71.12
2022
 
46,025
1.160
39,662
235.0
-5.66
66.72
70.30
Source: Calculations by the Virginia Regional Economic Analysis Project (VA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PSN
 
   

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

   
 
Virginia:
Per Capita Personal Income, 1969-2022
 
1969
 
3,868
0.189
20,485
100.0
N
98.41
1970
 
4,157
0.198
21,031
102.7
2.67
99.03
1971
 
4,505
0.206
21,863
106.7
3.95
100.77
1972
 
4,922
0.213
23,099
112.8
5.66
101.34
1973
 
5,424
0.225
24,154
117.9
4.57
101.13
1974
 
5,924
0.248
23,893
116.6
-1.08
101.51
1975
 
6,404
0.269
23,841
116.4
-0.22
101.26
1976
 
6,969
0.283
24,598
120.1
3.17
101.37
1977
 
7,613
0.302
25,229
123.2
2.57
101.30
1978
 
8,514
0.323
26,380
128.8
4.56
101.89
1979
 
9,425
0.351
26,820
130.9
1.67
102.09
1980
 
10,571
0.389
27,154
132.6
1.24
103.80
1981
 
11,692
0.424
27,565
134.6
1.51
103.55
1982
 
12,526
0.448
27,979
136.6
1.50
104.47
1983
 
13,344
0.467
28,588
139.6
2.18
105.06
1984
 
14,626
0.484
30,196
147.4
5.62
105.31
1985
 
15,620
0.501
31,160
152.1
3.19
105.92
1986
 
16,572
0.512
32,355
157.9
3.84
107.04
1987
 
17,487
0.528
33,118
161.7
2.36
107.76
1988
 
18,860
0.549
34,375
167.8
3.80
108.13
1989
 
20,122
0.573
35,141
171.5
2.23
107.85
1990
 
20,840
0.598
34,865
170.2
-0.79
106.23
1991
 
21,452
0.618
34,727
169.5
-0.39
106.99
1992
 
22,390
0.634
35,304
172.3
1.66
106.23
1993
 
23,180
0.650
35,661
174.1
1.01
106.76
1994
 
24,085
0.664
36,296
177.2
1.78
106.80
1995
 
25,011
0.678
36,915
180.2
1.71
106.08
1996
 
25,935
0.692
37,477
182.9
1.52
104.89
1997
 
27,328
0.704
38,814
189.5
3.57
105.41
1998
 
28,965
0.710
40,814
199.2
5.15
105.35
1999
 
30,574
0.720
42,464
207.3
4.04
106.93
2000
 
32,631
0.738
44,202
215.8
4.09
106.81
2001
 
33,940
0.753
45,072
220.0
1.97
107.58
2002
 
34,495
0.763
45,214
220.7
0.32
108.47
2003
 
36,151
0.779
46,411
226.6
2.65
110.69
2004
 
38,082
0.798
47,706
232.9
2.79
111.41
2005
 
40,027
0.821
48,738
237.9
2.16
112.22
2006
 
42,164
0.844
49,934
243.8
2.45
111.42
2007
 
44,020
0.866
50,827
248.1
1.79
111.20
2008
 
45,383
0.892
50,895
248.5
0.13
111.09
2009
 
44,091
0.889
49,585
242.1
-2.57
112.17
2010
 
45,443
0.905
50,205
245.1
1.25
112.05
2011
 
47,564
0.928
51,253
250.2
2.09
111.52
2012
 
49,052
0.945
51,888
253.3
1.24
110.88
2013
 
48,198
0.958
50,321
245.7
-3.02
108.55
2014
 
49,764
0.971
51,239
250.1
1.82
107.51
2015
 
51,620
0.973
53,053
259.0
3.54
107.41
2016
 
52,659
0.983
53,579
261.6
0.99
107.53
2017
 
54,380
1.000
54,380
265.5
1.50
106.62
2018
 
56,133
1.020
55,007
268.5
1.15
105.30
2019
 
58,368
1.035
56,387
275.3
2.51
105.08
2020
 
61,474
1.046
58,751
286.8
4.19
103.92
2021
 
66,838
1.090
61,319
299.3
4.37
103.74
2022
 
68,985
1.160
59,448
290.2
-3.05
105.37
Source: Calculations by the Virginia Regional Economic Analysis Project (VA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_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:
Per Capita Personal Income, 1969-2022
 
1969
 
3,931
0.189
20,816
100.0
N
1970
 
4,198
0.198
21,238
102.0
2.03
1971
 
4,471
0.206
21,697
104.2
2.16
1972
 
4,857
0.213
22,793
109.5
5.05
1973
 
5,363
0.225
23,883
114.7
4.78
1974
 
5,836
0.248
23,537
113.1
-1.45
1975
 
6,324
0.269
23,544
113.1
0.03
1976
 
6,875
0.283
24,265
116.6
3.07
1977
 
7,516
0.302
24,906
119.6
2.64
1978
 
8,356
0.323
25,889
124.4
3.95
1979
 
9,232
0.351
26,271
126.2
1.47
1980
 
10,184
0.389
26,160
125.7
-0.42
1981
 
11,291
0.424
26,621
127.9
1.76
1982
 
11,990
0.448
26,781
128.7
0.60
1983
 
12,701
0.467
27,210
130.7
1.61
1984
 
13,889
0.484
28,674
137.7
5.38
1985
 
14,746
0.501
29,417
141.3
2.59
1986
 
15,482
0.512
30,227
145.2
2.75
1987
 
16,228
0.528
30,733
147.6
1.67
1988
 
17,442
0.549
31,790
152.7
3.44
1989
 
18,658
0.573
32,584
156.5
2.50
1990
 
19,619
0.598
32,821
157.7
0.73
1991
 
20,050
0.618
32,457
155.9
-1.11
1992
 
21,077
0.634
33,234
159.7
2.39
1993
 
21,713
0.650
33,405
160.5
0.51
1994
 
22,552
0.664
33,986
163.3
1.74
1995
 
23,577
0.678
34,798
167.2
2.39
1996
 
24,725
0.692
35,729
171.6
2.67
1997
 
25,925
0.704
36,822
176.9
3.06
1998
 
27,493
0.710
38,740
186.1
5.21
1999
 
28,592
0.720
39,711
190.8
2.51
2000
 
30,551
0.738
41,384
198.8
4.21
2001
 
31,548
0.753
41,895
201.3
1.23
2002
 
31,801
0.763
41,684
200.2
-0.50
2003
 
32,659
0.779
41,928
201.4
0.59
2004
 
34,183
0.798
42,821
205.7
2.13
2005
 
35,669
0.821
43,432
208.6
1.43
2006
 
37,843
0.844
44,816
215.3
3.19
2007
 
39,588
0.866
45,710
219.6
1.99
2008
 
40,854
0.892
45,816
220.1
0.23
2009
 
39,307
0.889
44,204
212.4
-3.52
2010
 
40,557
0.905
44,808
215.3
1.36
2011
 
42,649
0.928
45,956
220.8
2.56
2012
 
44,237
0.945
46,795
224.8
1.83
2013
 
44,401
0.958
46,357
222.7
-0.94
2014
 
46,287
0.971
47,659
229.0
2.81
2015
 
48,060
0.973
49,394
237.3
3.64
2016
 
48,971
0.983
49,826
239.4
0.88
2017
 
51,004
1.000
51,004
245.0
2.36
2018
 
53,309
1.020
52,240
251.0
2.42
2019
 
55,547
1.035
53,662
257.8
2.72
2020
 
59,153
1.046
56,533
271.6
5.35
2021
 
64,430
1.090
59,110
284.0
4.56
2022
 
65,470
1.160
56,419
271.0
-4.55
Source: Calculations by the Virginia Regional Economic Analysis Project (VA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PN
 
   
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