Bland County vs. Virginia
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Bland County vs. Virginia
Bland County:
2022 Earnings = $146,972K
2022 Percent of State = 0.04%
Virginia:
2022 Earnings = $410,883,004K
2022 Percent of U.S. = 2.70%
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.
Bland County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Bland County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Bland 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 Bland County over time.
When measured in current dollars, Bland County's total industry earnings increased 1,972.07%, from $7M in 1970 to $147M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 252.94%, from $36M in 1970 to $127M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Bland County's and Virginia'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, Bland County's real total industry earnings rose from $33M in 1969 to $127M in 2022, for a net gain of $94M, or 288.62%. In comparison, Virginia's real total industry earnings increased from $73,551M in 1969 to $354,078M in 2022, for a net advance of $280,527M, or 381.41%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Bland County's real total industry earnings growth in a broader context by offering direct comparisons across time with Virginia, 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.
Bland County's overall real total industry earnings growth was 288.62% over 1969-2022 trailed Virginia's increase of 381.41%, and outpaced the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Virginia Total: 1969-2022
Total Industry Earnings as a Percent of the Virginia Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total industry earnings growth of Bland County is to compare its individual percentage contributions to Virginia'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 Virginia's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Bland County's total industry earnings comprised 0.04% of Virginia's total industry earnings, while in 2022 it equated to 0.04% thereby yielding a -0.01% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.01%
=
0.04%
-
0.04%
 
   
Bland County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Bland County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Bland 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 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, Bland County's real total industry earnings grew at an annual rate of 3.00% over 1970-2022. The county recorded its highest growth in 1974 (32.61%) and recorded its lowest growth in 1976 (-29.70%). In 2022, Bland County's real total industry earnings grew by 0.42%
Bland County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Bland 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 depicts the annual percent change in Bland County's real total industry earnings since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Bland County's annual real total industry earnings growth rate averaged 4.75%. It averaged 6.04% in the 1980s, 1.45% during the 1990s, 3.31% during the 2000s, 0.95% throughout the 2010s, -1.97% 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 Bland County noted in the previous graph with the corresponding decade averages for Virginia and the nation. As the chart reveals, Bland County's average annual real total industry earnings growth outpaced Virginia's average throughout the 1970s (4.75% vs. 3.72%), registered above Virginia's average throughout the 1980s (6.04% vs. 4.23%), fell below Virginia's average throughout the 1990s (1.45% vs. 3.37%), outgained Virginia's average throughout the 2000s (3.31% vs. 2.58%), fell below Virginia's average in the 2010s (0.95% vs. 1.69%), and amounted to less than Virginia's average over the 3 year period of the current decade, 2020-2022 (-1.97% vs. 1.71%).
Finally, relative to nationwide real total industry earnings growth trends, Bland County exceeded the nation during the 1970s (4.75% vs. 3.13%), recorded above the nation during the 1980s (6.04% vs. 2.62%), lagged the nation over the 1990s (1.45% vs. 3.43%), recorded above the nation throughout the 2000s (3.31% vs. 1.47%), fell below the nation over the 2010s (0.95% vs. 2.53%), and posted below the nation over 2020-2022 (-1.97% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.00
4.75
6.04
1.45
3.31
0.95
-1.97
0.42
 
3.04
3.72
4.23
3.37
2.58
1.69
1.71
0.48
 
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.

   
 
Bland County:
Total Industry Earnings, 1969-2022
 
1969
 
6,154
0.189
32,590
100.0
N
0.04
1970
 
7,093
0.198
35,885
110.1
10.11
0.05
1971
 
8,724
0.206
42,339
129.9
17.99
0.05
1972
 
10,624
0.213
49,859
153.0
17.76
0.06
1973
 
12,658
0.225
56,371
173.0
13.06
0.06
1974
 
18,533
0.248
74,751
229.4
32.61
0.08
1975
 
17,370
0.269
64,669
198.4
-13.49
0.07
1976
 
12,880
0.283
45,459
139.5
-29.70
0.05
1977
 
11,601
0.302
38,444
118.0
-15.43
0.04
1978
 
12,363
0.323
38,304
117.5
-0.37
0.04
1979
 
15,472
0.351
44,026
135.1
14.94
0.04
1980
 
16,292
0.389
41,852
128.4
-4.94
0.04
1981
 
18,156
0.424
42,806
131.3
2.28
0.04
1982
 
20,976
0.448
46,852
143.8
9.45
0.04
1983
 
22,694
0.467
48,620
149.2
3.77
0.04
1984
 
25,933
0.484
53,537
164.3
10.11
0.04
1985
 
30,175
0.501
60,196
184.7
12.44
0.05
1986
 
31,429
0.512
61,362
188.3
1.94
0.04
1987
 
35,790
0.528
67,782
208.0
10.46
0.05
1988
 
37,736
0.549
68,780
211.0
1.47
0.04
1989
 
44,676
0.573
78,022
239.4
13.44
0.05
1990
 
49,546
0.598
82,887
254.3
6.24
0.05
1991
 
51,529
0.618
83,415
256.0
0.64
0.05
1992
 
58,381
0.634
92,055
282.5
10.36
0.06
1993
 
61,494
0.650
94,606
290.3
2.77
0.06
1994
 
64,401
0.664
97,054
297.8
2.59
0.06
1995
 
60,664
0.678
89,536
274.7
-7.75
0.05
1996
 
61,556
0.692
88,950
272.9
-0.65
0.05
1997
 
64,047
0.704
90,967
279.1
2.27
0.05
1998
 
65,968
0.710
92,956
285.2
2.19
0.04
1999
 
64,159
0.720
89,108
273.4
-4.14
0.04
2000
 
67,010
0.738
90,772
278.5
1.87
0.04
2001
 
74,166
0.753
98,491
302.2
8.50
0.04
2002
 
76,276
0.763
99,980
306.8
1.51
0.04
2003
 
75,210
0.779
96,554
296.3
-3.43
0.04
2004
 
77,548
0.798
97,145
298.1
0.61
0.04
2005
 
84,315
0.821
102,664
315.0
5.68
0.04
2006
 
92,782
0.844
109,879
337.2
7.03
0.04
2007
 
102,979
0.866
118,904
364.8
8.21
0.04
2008
 
107,742
0.892
120,828
370.7
1.62
0.04
2009
 
109,010
0.889
122,592
376.2
1.46
0.04
2010
 
112,984
0.905
124,825
383.0
1.82
0.04
2011
 
113,659
0.928
122,472
375.8
-1.88
0.04
2012
 
114,748
0.945
121,383
372.5
-0.89
0.04
2013
 
116,772
0.958
121,916
374.1
0.44
0.04
2014
 
120,185
0.971
123,748
379.7
1.50
0.04
2015
 
125,622
0.973
129,109
396.2
4.33
0.04
2016
 
125,310
0.983
127,498
391.2
-1.25
0.04
2017
 
129,956
1.000
129,956
398.8
1.93
0.04
2018
 
136,035
1.020
133,306
409.0
2.58
0.04
2019
 
139,221
1.035
134,496
412.7
0.89
0.04
2020
 
135,922
1.046
129,901
398.6
-3.42
0.04
2021
 
137,471
1.090
126,119
387.0
-2.91
0.04
2022
 
146,972
1.160
126,653
388.6
0.42
0.04
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_1200_PSN
 
   

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

   
 
Virginia:
Total Industry Earnings, 1969-2022
 
1969
 
13,888,586
0.189
73,550,739
100.0
N
2.12
1970
 
14,888,650
0.198
75,324,547
102.4
2.41
2.15
1971
 
16,361,556
0.206
79,405,756
108.0
5.42
2.20
1972
 
18,247,954
0.213
85,638,981
116.4
7.85
2.23
1973
 
20,494,163
0.225
91,267,704
124.1
6.57
2.23
1974
 
22,487,701
0.248
90,701,815
123.3
-0.62
2.26
1975
 
24,107,514
0.269
89,752,472
122.0
-1.05
2.28
1976
 
26,730,974
0.283
94,345,724
128.3
5.12
2.28
1977
 
29,632,785
0.302
98,199,844
133.5
4.09
2.27
1978
 
33,472,938
0.323
103,708,446
141.0
5.61
2.27
1979
 
37,101,589
0.351
105,573,198
143.5
1.80
2.25
1980
 
40,839,542
0.389
104,910,455
142.6
-0.63
2.29
1981
 
45,398,788
0.424
107,034,747
145.5
2.02
2.31
1982
 
48,645,343
0.448
108,653,689
147.7
1.51
2.37
1983
 
53,078,422
0.467
113,716,732
154.6
4.66
2.43
1984
 
59,515,460
0.484
122,866,822
167.1
8.05
2.45
1985
 
65,054,570
0.501
129,776,911
176.4
5.62
2.49
1986
 
70,915,359
0.512
138,455,181
188.2
6.69
2.54
1987
 
77,743,162
0.528
147,235,260
200.2
6.34
2.59
1988
 
85,293,416
0.549
155,460,523
211.4
5.59
2.62
1989
 
91,220,891
0.573
159,307,192
216.6
2.47
2.63
1990
 
95,102,916
0.598
159,101,491
216.3
-0.13
2.58
1991
 
98,530,957
0.618
159,502,310
216.9
0.25
2.60
1992
 
104,802,966
0.634
165,252,233
224.7
3.60
2.58
1993
 
109,727,435
0.650
168,811,438
229.5
2.15
2.59
1994
 
115,317,751
0.664
173,786,471
236.3
2.95
2.59
1995
 
120,285,825
0.678
177,533,171
241.4
2.16
2.57
1996
 
126,802,379
0.692
183,232,488
249.1
3.21
2.56
1997
 
135,741,537
0.704
192,795,513
262.1
5.22
2.57
1998
 
147,511,278
0.710
207,858,974
282.6
7.81
2.58
1999
 
159,419,000
0.720
221,412,203
301.0
6.52
2.61
2000
 
175,309,707
0.738
237,476,236
322.9
7.26
2.66
2001
 
184,666,498
0.753
245,234,520
333.4
3.27
2.69
2002
 
189,151,512
0.763
247,934,241
337.1
1.10
2.70
2003
 
199,943,911
0.779
256,687,179
349.0
3.53
2.76
2004
 
216,849,751
0.798
271,649,631
369.3
5.83
2.83
2005
 
230,677,524
0.821
280,879,034
381.9
3.40
2.87
2006
 
241,768,620
0.844
286,320,014
389.3
1.94
2.84
2007
 
251,551,993
0.866
290,452,265
394.9
1.44
2.84
2008
 
255,751,400
0.892
286,813,278
390.0
-1.25
2.84
2009
 
253,301,547
0.889
284,861,334
387.3
-0.68
2.92
2010
 
263,974,651
0.905
291,639,582
396.5
2.38
2.93
2011
 
272,115,957
0.928
293,215,763
398.7
0.54
2.88
2012
 
282,095,603
0.945
298,406,502
405.7
1.77
2.86
2013
 
284,627,716
0.958
297,165,112
404.0
-0.42
2.80
2014
 
291,940,359
0.971
300,594,474
408.7
1.15
2.75
2015
 
304,543,215
0.973
312,997,271
425.6
4.13
2.76
2016
 
310,125,950
0.983
315,540,627
429.0
0.81
2.74
2017
 
321,253,019
1.000
321,253,019
436.8
1.81
2.71
2018
 
332,431,085
1.020
325,762,722
442.9
1.40
2.67
2019
 
348,430,795
1.035
336,605,832
457.7
3.33
2.68
2020
 
356,186,449
1.046
340,408,514
462.8
1.13
2.71
2021
 
384,089,912
1.090
352,372,833
479.1
3.51
2.69
2022
 
410,883,004
1.160
354,078,233
481.4
0.48
2.70
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_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 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_1200_PN
 
   
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