Page County vs. Virginia
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Page County vs. Virginia
Page County:
2022 Earnings = $451,527K
2022 Percent of State = 0.11%
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.
Page County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Page County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Page 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 Page County over time.
When measured in current dollars, Page County's total industry earnings increased 1,264.83%, from $33M in 1970 to $452M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 132.48%, from $167M in 1970 to $389M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Page 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, Page County's real total industry earnings rose from $157M in 1969 to $389M in 2022, for a net gain of $232M, or 147.40%. In comparison, Virginia's real total industry earnings advanced from $73,551M in 1969 to $354,078M in 2022, for a net gain 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 Page 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.
Page County's overall real total industry earnings growth was 147.40% over 1969-2022 trailed Virginia's increase of 381.41%, and fell below 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 highlighting the total industry earnings growth of Page 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, Page County's total industry earnings comprised 0.21% of Virginia's total industry earnings, while in 2022 it equated to 0.11% thereby yielding a -0.10% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.10%
=
0.11%
-
0.21%
 
   
Page County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Page County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Page 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, Page County's real total industry earnings grew at an annual rate of 1.88% over 1970-2022. The county posted its highest growth in 1984 (13.53%) and recorded its lowest growth in 1990 (-11.03%). In 2022, Page County's real total industry earnings grew by 10.16%
Page County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Page 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 shows the annual percent change in Page 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, Page County's annual real total industry earnings growth rate averaged 2.31%. It averaged 3.76% during the 1980s, 2.21% throughout the 1990s, -0.84% during the 2000s, 0.62% in the 2010s, 6.41% 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 Page County noted in the previous graph with the corresponding decade averages for Virginia and the nation. As the chart reveals, Page County's average annual real total industry earnings growth recorded under Virginia's average during the 1970s (2.31% vs. 3.72%), lagged Virginia's average in the 1980s (3.76% vs. 4.23%), trailed Virginia's average in the 1990s (2.21% vs. 3.37%), recorded under Virginia's average during the 2000s (-0.84% vs. 2.58%), fell below Virginia's average throughout the 2010s (0.62% vs. 1.69%), and topped Virginia's average over the 3 year period of the current decade, 2020-2022 (6.41% vs. 1.71%).
Finally, relative to nationwide real total industry earnings growth trends, Page County lagged the nation during the 1970s (2.31% vs. 3.13%), outperformed the nation over the 1980s (3.76% vs. 2.62%), lagged the nation over the 1990s (2.21% vs. 3.43%), lagged the nation throughout the 2000s (-0.84% vs. 1.47%), trailed the nation during the 2010s (0.62% vs. 2.53%), and recorded above the nation over 2020-2022 (6.41% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
1.88
2.31
3.76
2.21
-0.84
0.62
6.41
10.16
 
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.

   
 
Page County:
Total Industry Earnings, 1969-2022
 
1969
 
29,699
0.189
157,279
100.0
N
0.21
1970
 
33,083
0.198
167,373
106.4
6.42
0.22
1971
 
35,232
0.206
170,988
108.7
2.16
0.22
1972
 
39,603
0.213
185,860
118.2
8.70
0.22
1973
 
44,770
0.225
199,377
126.8
7.27
0.22
1974
 
46,356
0.248
186,972
118.9
-6.22
0.21
1975
 
47,900
0.269
178,332
113.4
-4.62
0.20
1976
 
54,566
0.283
192,588
122.4
7.99
0.20
1977
 
59,511
0.302
197,213
125.4
2.40
0.20
1978
 
66,808
0.323
206,990
131.6
4.96
0.20
1979
 
68,424
0.351
194,702
123.8
-5.94
0.18
1980
 
68,584
0.389
176,182
112.0
-9.51
0.17
1981
 
71,571
0.424
168,740
107.3
-4.22
0.16
1982
 
75,346
0.448
168,292
107.0
-0.27
0.15
1983
 
82,326
0.467
176,378
112.1
4.80
0.16
1984
 
96,999
0.484
200,250
127.3
13.53
0.16
1985
 
106,374
0.501
212,205
134.9
5.97
0.16
1986
 
117,841
0.512
230,073
146.3
8.42
0.17
1987
 
129,672
0.528
245,582
156.1
6.74
0.17
1988
 
143,498
0.549
261,547
166.3
6.50
0.17
1989
 
158,157
0.573
276,204
175.6
5.60
0.17
1990
 
146,896
0.598
245,748
156.2
-11.03
0.15
1991
 
154,345
0.618
249,854
158.9
1.67
0.16
1992
 
169,553
0.634
267,349
170.0
7.00
0.16
1993
 
190,296
0.650
292,763
186.1
9.51
0.17
1994
 
197,060
0.664
296,974
188.8
1.44
0.17
1995
 
199,202
0.678
294,008
186.9
-1.00
0.17
1996
 
208,316
0.692
301,022
191.4
2.39
0.16
1997
 
219,169
0.704
311,289
197.9
3.41
0.16
1998
 
238,229
0.710
335,690
213.4
7.84
0.16
1999
 
243,867
0.720
338,699
215.3
0.90
0.15
2000
 
255,856
0.738
346,585
220.4
2.33
0.15
2001
 
275,997
0.753
366,520
233.0
5.75
0.15
2002
 
263,313
0.763
345,143
219.4
-5.83
0.14
2003
 
263,543
0.779
338,335
215.1
-1.97
0.13
2004
 
286,355
0.798
358,719
228.1
6.02
0.13
2005
 
307,806
0.821
374,793
238.3
4.48
0.13
2006
 
291,836
0.844
345,613
219.7
-7.79
0.12
2007
 
294,682
0.866
340,252
216.3
-1.55
0.12
2008
 
290,676
0.892
325,980
207.3
-4.19
0.11
2009
 
273,395
0.889
307,458
195.5
-5.68
0.11
2010
 
296,480
0.905
327,552
208.3
6.54
0.11
2011
 
295,607
0.928
318,528
202.5
-2.75
0.11
2012
 
288,015
0.945
304,668
193.7
-4.35
0.10
2013
 
289,703
0.958
302,464
192.3
-0.72
0.10
2014
 
300,704
0.971
309,618
196.9
2.37
0.10
2015
 
316,305
0.973
325,086
206.7
5.00
0.10
2016
 
316,074
0.983
321,593
204.5
-1.07
0.10
2017
 
327,710
1.000
327,710
208.4
1.90
0.10
2018
 
333,876
1.020
327,179
208.0
-0.16
0.10
2019
 
336,710
1.035
325,283
206.8
-0.58
0.10
2020
 
327,291
1.046
312,793
198.9
-3.84
0.09
2021
 
384,996
1.090
353,204
224.6
12.92
0.10
2022
 
451,527
1.160
389,103
247.4
10.16
0.11
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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