Lancaster County vs. Virginia
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Lancaster County vs. Virginia
Lancaster County:
2022 Earnings = $334,865K
2022 Percent of State = 0.08%
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.
Lancaster County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Lancaster County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Lancaster 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 Lancaster County over time.
When measured in current dollars, Lancaster County's total industry earnings increased 1,652.39%, from $19M in 1970 to $335M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 198.49%, from $97M in 1970 to $289M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Lancaster 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, Lancaster County's real total industry earnings rose from $90M in 1969 to $289M in 2022, for a net gain of $198M, or 220.38%. In comparison, Virginia's real total industry earnings advanced from $73,551M in 1969 to $354,078M in 2022, for a net advance of $280,527M, or 381.41%.
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 3.
Another interesting and insightful way of comparing the total industry earnings growth of Lancaster County is to compare its individual percentage contributions to Virginia's statewide total industry earnings over time, as shown in Figure 3. 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, Lancaster County's total industry earnings totaled 0.12% of Virginia's total industry earnings, while in 2022 it equated to 0.08% thereby yielding a -0.04% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.04%
=
0.08%
-
0.12%
 
   
Lancaster County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Lancaster County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 4.
Figure 4 displays the short-run pattern of Lancaster 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, Lancaster County's real total industry earnings grew at an annual rate of 2.32% over 1970-2022. The county recorded its highest growth in 1978 (17.88%) and posted its lowest growth in 1992 (-6.50%). In 2022, Lancaster County's real total industry earnings grew by 0.55%
Lancaster County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Lancaster County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 5.
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 5 again traces the annual percent change in Lancaster 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, Lancaster County's annual real total industry earnings growth rate averaged 4.38%. It averaged 2.54% in the 1980s, 2.08% during the 1990s, 2.50% throughout the 2000s, 0.06% throughout the 2010s, 2.45% 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 6.
Figure 6 compares the decade average growth rates for Lancaster County noted in the previous graph with the corresponding decade averages for Virginia and the nation. As the chart reveals, Lancaster County's average annual real total industry earnings growth outpaced Virginia's average throughout the 1970s (4.38% vs. 3.72%), lagged Virginia's average in the 1980s (2.54% vs. 4.23%), posted below Virginia's average in the 1990s (2.08% vs. 3.37%), fell below Virginia's average in the 2000s (2.50% vs. 2.58%), recorded under Virginia's average throughout the 2010s (0.06% vs. 1.69%), and outgained Virginia's average over the 3 year period of the current decade, 2020-2022 (2.45% vs. 1.71%).
Finally, relative to nationwide real total industry earnings growth trends, Lancaster County exceeded the nation during the 1970s (4.38% vs. 3.13%), fell under the nation in the 1980s (2.54% vs. 2.62%), posted below the nation over the 1990s (2.08% vs. 3.43%), topped the nation throughout the 2000s (2.50% vs. 1.47%), trailed the nation in the 2010s (0.06% vs. 2.53%), and outpaced the nation over 2020-2022 (2.45% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.32
4.38
2.54
2.08
2.50
0.06
2.45
0.55
 
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.

   
 
Lancaster County:
Total Industry Earnings, 1969-2022
 
1969
 
17,008
0.189
90,070
100.0
N
0.12
1970
 
19,109
0.198
96,676
107.3
7.33
0.13
1971
 
19,628
0.206
95,258
105.8
-1.47
0.12
1972
 
22,050
0.213
103,482
114.9
8.63
0.12
1973
 
24,306
0.225
108,243
120.2
4.60
0.12
1974
 
27,264
0.248
109,967
122.1
1.59
0.12
1975
 
29,142
0.269
108,496
120.5
-1.34
0.12
1976
 
33,686
0.283
118,893
132.0
9.58
0.13
1977
 
36,685
0.302
121,570
135.0
2.25
0.12
1978
 
46,255
0.323
143,311
159.1
17.88
0.14
1979
 
47,728
0.351
135,811
150.8
-5.23
0.13
1980
 
53,478
0.389
137,377
152.5
1.15
0.13
1981
 
56,033
0.424
132,107
146.7
-3.84
0.12
1982
 
59,860
0.448
133,703
148.4
1.21
0.12
1983
 
61,487
0.467
131,732
146.3
-1.47
0.12
1984
 
66,411
0.484
137,102
152.2
4.08
0.11
1985
 
72,222
0.501
144,075
160.0
5.09
0.11
1986
 
74,431
0.512
145,319
161.3
0.86
0.10
1987
 
83,078
0.528
157,339
174.7
8.27
0.11
1988
 
93,589
0.549
170,581
189.4
8.42
0.11
1989
 
99,255
0.573
173,338
192.4
1.62
0.11
1990
 
103,234
0.598
172,704
191.7
-0.37
0.11
1991
 
105,573
0.618
170,902
189.7
-1.04
0.11
1992
 
101,340
0.634
159,792
177.4
-6.50
0.10
1993
 
103,263
0.650
158,866
176.4
-0.58
0.09
1994
 
115,033
0.664
173,357
192.5
9.12
0.10
1995
 
114,895
0.678
169,577
188.3
-2.18
0.10
1996
 
118,519
0.692
171,263
190.1
0.99
0.09
1997
 
125,974
0.704
178,923
198.6
4.47
0.09
1998
 
140,521
0.710
198,009
219.8
10.67
0.10
1999
 
151,471
0.720
210,373
233.6
6.24
0.10
2000
 
161,998
0.738
219,444
243.6
4.31
0.09
2001
 
182,108
0.753
241,837
268.5
10.20
0.10
2002
 
192,514
0.763
252,342
280.2
4.34
0.10
2003
 
204,433
0.779
262,450
291.4
4.01
0.10
2004
 
212,412
0.798
266,090
295.4
1.39
0.10
2005
 
228,499
0.821
278,226
308.9
4.56
0.10
2006
 
230,538
0.844
273,020
303.1
-1.87
0.10
2007
 
245,324
0.866
283,261
314.5
3.75
0.10
2008
 
250,024
0.892
280,390
311.3
-1.01
0.10
2009
 
237,657
0.889
267,268
296.7
-4.68
0.09
2010
 
239,316
0.905
264,397
293.5
-1.07
0.09
2011
 
239,060
0.928
257,597
286.0
-2.57
0.09
2012
 
242,423
0.945
256,440
284.7
-0.45
0.09
2013
 
239,270
0.958
249,809
277.3
-2.59
0.08
2014
 
239,052
0.971
246,138
273.3
-1.47
0.08
2015
 
243,544
0.973
250,305
277.9
1.69
0.08
2016
 
254,521
0.983
258,965
287.5
3.46
0.08
2017
 
264,254
1.000
264,254
293.4
2.04
0.08
2018
 
267,150
1.020
261,791
290.7
-0.93
0.08
2019
 
277,837
1.035
268,408
298.0
2.53
0.08
2020
 
290,680
1.046
277,804
308.4
3.50
0.08
2021
 
312,813
1.090
286,982
318.6
3.30
0.08
2022
 
334,865
1.160
288,570
320.4
0.55
0.08
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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