| Mathews County vs. Virginia Comparative Trends Analysis: Total Personal Income Growth and Change, 1969-2022 Introduction Mathews County: 2022 TPI = $576,215K 2022 Percent of State = 0.10% Virginia: 2022 TPI = $599,041,951K 2022 Percent of U.S. = 2.75% 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 Mathews County and Virginia 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 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption. Data Definition: Personal income is the income received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, 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. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters. Figure 1. Figure 1 depicts Mathews County's annual total 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 Mathews County over time. When measured in current dollars, Mathews County's total personal income increased 2,400.50%, from $23M in 1970 to $576M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 325.92%, from $117M in 1970 to $497M in 2022. Figure 2. Figure 2 traces Mathews County's and Virginia's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Mathews County's real total personal income rose from $114M in 1969 to $497M in 2022, for a net gain of $383M, or 336.21%. In comparison, Virginia's real total personal income advanced from $94,517M in 1969 to $516,224M in 2022, for a net gain of $421,707M, or 446.17%. Figure 3. Another interesting and insightful way of contrasting the total personal income growth of Mathews County is to compare its individual percentage contributions to Virginia's statewide total personal income over time, as shown in Figure 3. A rising share means a region's total personal income grew faster, or declined less, than Virginia's total personal income, while a declining share shows it grew more slowly. In 1969, Mathews County's total personal income comprised 0.12% of Virginia's total personal income, while in 2022 it equated to 0.10% thereby yielding a -0.02% share-shift. | | | | Total Personal Income Share-Shift 2022 vs. 1969 | Share- Shift* | | 2022 | vs. | 1969 | | -0.02% | = | 0.10% | - | 0.12% |
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Figure 4. Figure 4 displays the short-run pattern of Mathews County's real total 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 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, Mathews County's real total personal income grew at an annual rate of 2.87% over 1970-2022. The county recorded its highest growth in 1972 (10.48%) and recorded its lowest growth in 1991 (-6.14%). In 2022, Mathews County's real total personal income declined by -3.45% 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 depicts the annual percent change in Mathews County's real total personal income 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, Mathews County's annual real total personal income growth rate averaged 5.07%. It averaged 4.00% in the 1980s, 3.03% during the 1990s, 2.28% throughout the 2000s, 0.61% during the 2010s, 0.74% thus far this decade (2020-2022). Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | Mathews County: Total Personal Income, 1969-2022 | | | | | | | | | 1969 | | 21,495 | 0.189 | 113,833 | 100.0 | N | 0.12 | 1970 | | 23,044 | 0.198 | 116,584 | 102.4 | 2.42 | 0.12 | 1971 | | 26,144 | 0.206 | 126,882 | 111.5 | 8.83 | 0.12 | 1972 | | 29,869 | 0.213 | 140,177 | 123.1 | 10.48 | 0.13 | 1973 | | 33,820 | 0.225 | 150,612 | 132.3 | 7.44 | 0.13 | 1974 | | 37,285 | 0.248 | 150,385 | 132.1 | -0.15 | 0.13 | 1975 | | 41,644 | 0.269 | 155,041 | 136.2 | 3.10 | 0.13 | 1976 | | 46,532 | 0.283 | 164,233 | 144.3 | 5.93 | 0.13 | 1977 | | 50,720 | 0.302 | 168,081 | 147.7 | 2.34 | 0.13 | 1978 | | 58,332 | 0.323 | 180,729 | 158.8 | 7.53 | 0.13 | 1979 | | 65,289 | 0.351 | 185,781 | 163.2 | 2.80 | 0.13 | 1980 | | 74,734 | 0.389 | 191,980 | 168.7 | 3.34 | 0.13 | 1981 | | 83,311 | 0.424 | 196,419 | 172.6 | 2.31 | 0.13 | 1982 | | 90,560 | 0.448 | 202,274 | 177.7 | 2.98 | 0.13 | 1983 | | 99,717 | 0.467 | 213,637 | 187.7 | 5.62 | 0.13 | 1984 | | 110,401 | 0.484 | 227,918 | 200.2 | 6.68 | 0.13 | 1985 | | 117,943 | 0.501 | 235,284 | 206.7 | 3.23 | 0.13 | 1986 | | 127,099 | 0.512 | 248,148 | 218.0 | 5.47 | 0.13 | 1987 | | 132,752 | 0.528 | 251,415 | 220.9 | 1.32 | 0.13 | 1988 | | 144,910 | 0.549 | 264,121 | 232.0 | 5.05 | 0.13 | 1989 | | 157,282 | 0.573 | 274,676 | 241.3 | 4.00 | 0.13 | 1990 | | 163,976 | 0.598 | 274,322 | 241.0 | -0.13 | 0.13 | 1991 | | 159,055 | 0.618 | 257,479 | 226.2 | -6.14 | 0.12 | 1992 | | 169,065 | 0.634 | 266,580 | 234.2 | 3.53 | 0.12 | 1993 | | 181,910 | 0.650 | 279,862 | 245.9 | 4.98 | 0.12 | 1994 | | 193,899 | 0.664 | 292,210 | 256.7 | 4.41 | 0.12 | 1995 | | 209,569 | 0.678 | 309,309 | 271.7 | 5.85 | 0.13 | 1996 | | 224,486 | 0.692 | 324,388 | 285.0 | 4.88 | 0.13 | 1997 | | 240,737 | 0.704 | 341,922 | 300.4 | 5.41 | 0.13 | 1998 | | 256,117 | 0.710 | 360,896 | 317.0 | 5.55 | 0.13 | 1999 | | 265,045 | 0.720 | 368,113 | 323.4 | 2.00 | 0.12 | 2000 | | 292,642 | 0.738 | 396,416 | 348.2 | 7.69 | 0.13 | 2001 | | 316,053 | 0.753 | 419,714 | 368.7 | 5.88 | 0.13 | 2002 | | 325,565 | 0.763 | 426,741 | 374.9 | 1.67 | 0.13 | 2003 | | 340,164 | 0.779 | 436,701 | 383.6 | 2.33 | 0.13 | 2004 | | 358,425 | 0.798 | 449,002 | 394.4 | 2.82 | 0.13 | 2005 | | 360,976 | 0.821 | 439,534 | 386.1 | -2.11 | 0.12 | 2006 | | 369,865 | 0.844 | 438,021 | 384.8 | -0.34 | 0.11 | 2007 | | 395,447 | 0.866 | 456,599 | 401.1 | 4.24 | 0.12 | 2008 | | 414,011 | 0.892 | 464,294 | 407.9 | 1.69 | 0.12 | 2009 | | 408,525 | 0.889 | 459,425 | 403.6 | -1.05 | 0.12 | 2010 | | 401,059 | 0.905 | 443,091 | 389.2 | -3.56 | 0.11 | 2011 | | 422,740 | 0.928 | 455,519 | 400.2 | 2.80 | 0.11 | 2012 | | 420,779 | 0.945 | 445,109 | 391.0 | -2.29 | 0.10 | 2013 | | 411,309 | 0.958 | 429,427 | 377.2 | -3.52 | 0.10 | 2014 | | 426,126 | 0.971 | 438,758 | 385.4 | 2.17 | 0.10 | 2015 | | 441,504 | 0.973 | 453,760 | 398.6 | 3.42 | 0.10 | 2016 | | 449,527 | 0.983 | 457,376 | 401.8 | 0.80 | 0.10 | 2017 | | 462,114 | 1.000 | 462,114 | 406.0 | 1.04 | 0.10 | 2018 | | 474,468 | 1.020 | 464,950 | 408.5 | 0.61 | 0.10 | 2019 | | 503,420 | 1.035 | 486,335 | 427.2 | 4.60 | 0.10 | 2020 | | 526,929 | 1.046 | 503,588 | 442.4 | 3.55 | 0.10 | 2021 | | 560,564 | 1.090 | 514,274 | 451.8 | 2.12 | 0.10 | 2022 | | 576,215 | 1.160 | 496,553 | 436.2 | -3.45 | 0.10 |
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_300_PSN | | | | |
Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | Virginia: Total Personal Income, 1969-2022 | | | | | | | | | 1969 | | 17,847,652 | 0.189 | 94,517,036 | 100.0 | N | 2.26 | 1970 | | 19,371,643 | 0.198 | 98,004,872 | 103.7 | 3.69 | 2.26 | 1971 | | 21,410,967 | 0.206 | 103,911,512 | 109.9 | 6.03 | 2.32 | 1972 | | 23,764,172 | 0.213 | 111,526,995 | 118.0 | 7.33 | 2.34 | 1973 | | 26,612,710 | 0.225 | 118,515,743 | 125.4 | 6.27 | 2.35 | 1974 | | 29,489,590 | 0.248 | 118,943,210 | 125.8 | 0.36 | 2.37 | 1975 | | 32,379,775 | 0.269 | 120,550,168 | 127.5 | 1.35 | 2.38 | 1976 | | 35,770,824 | 0.283 | 126,251,452 | 133.6 | 4.73 | 2.39 | 1977 | | 39,631,200 | 0.302 | 131,333,510 | 139.0 | 4.03 | 2.40 | 1978 | | 44,990,392 | 0.323 | 139,392,713 | 147.5 | 6.14 | 2.42 | 1979 | | 50,186,344 | 0.351 | 142,806,089 | 151.1 | 2.45 | 2.42 | 1980 | | 56,746,086 | 0.389 | 145,771,902 | 154.2 | 2.08 | 2.45 | 1981 | | 63,651,263 | 0.424 | 150,067,813 | 158.8 | 2.95 | 2.46 | 1982 | | 68,805,226 | 0.448 | 153,682,576 | 162.6 | 2.41 | 2.48 | 1983 | | 74,253,831 | 0.467 | 159,083,535 | 168.3 | 3.51 | 2.50 | 1984 | | 82,549,774 | 0.484 | 170,420,062 | 180.3 | 7.13 | 2.52 | 1985 | | 89,269,129 | 0.501 | 178,082,367 | 188.4 | 4.50 | 2.54 | 1986 | | 96,310,281 | 0.512 | 188,036,239 | 198.9 | 5.59 | 2.59 | 1987 | | 103,737,724 | 0.528 | 196,465,520 | 207.9 | 4.48 | 2.64 | 1988 | | 113,855,750 | 0.549 | 207,519,821 | 219.6 | 5.63 | 2.67 | 1989 | | 123,151,152 | 0.573 | 215,069,859 | 227.5 | 3.64 | 2.67 | 1990 | | 129,561,607 | 0.598 | 216,748,820 | 229.3 | 0.78 | 2.65 | 1991 | | 135,175,978 | 0.618 | 218,823,418 | 231.5 | 0.96 | 2.66 | 1992 | | 143,616,852 | 0.634 | 226,453,567 | 239.6 | 3.49 | 2.66 | 1993 | | 150,892,451 | 0.650 | 232,142,232 | 245.6 | 2.51 | 2.67 | 1994 | | 158,792,705 | 0.664 | 239,304,215 | 253.2 | 3.09 | 2.68 | 1995 | | 166,843,936 | 0.678 | 246,249,573 | 260.5 | 2.90 | 2.66 | 1996 | | 175,083,774 | 0.692 | 253,000,266 | 267.7 | 2.74 | 2.63 | 1997 | | 186,626,604 | 0.704 | 265,068,252 | 280.4 | 4.77 | 2.64 | 1998 | | 199,883,611 | 0.710 | 281,657,124 | 298.0 | 6.26 | 2.64 | 1999 | | 214,025,699 | 0.720 | 297,253,787 | 314.5 | 5.54 | 2.68 | 2000 | | 231,869,839 | 0.738 | 314,093,142 | 332.3 | 5.66 | 2.69 | 2001 | | 244,314,338 | 0.753 | 324,446,015 | 343.3 | 3.30 | 2.72 | 2002 | | 251,357,721 | 0.763 | 329,472,311 | 348.6 | 1.55 | 2.75 | 2003 | | 266,325,205 | 0.779 | 341,907,214 | 361.7 | 3.77 | 2.81 | 2004 | | 284,687,272 | 0.798 | 356,630,303 | 377.3 | 4.31 | 2.84 | 2005 | | 303,288,897 | 0.821 | 369,292,555 | 390.7 | 3.55 | 2.88 | 2006 | | 323,553,839 | 0.844 | 383,176,029 | 405.4 | 3.76 | 2.87 | 2007 | | 341,200,328 | 0.866 | 393,963,915 | 416.8 | 2.82 | 2.86 | 2008 | | 355,506,371 | 0.892 | 398,683,830 | 421.8 | 1.20 | 2.86 | 2009 | | 349,465,380 | 0.889 | 393,006,579 | 415.8 | -1.42 | 2.90 | 2010 | | 364,677,930 | 0.905 | 402,896,712 | 426.3 | 2.52 | 2.91 | 2011 | | 385,635,146 | 0.928 | 415,537,203 | 439.6 | 3.14 | 2.90 | 2012 | | 402,072,097 | 0.945 | 425,320,093 | 450.0 | 2.35 | 2.89 | 2013 | | 398,579,782 | 0.958 | 416,136,585 | 440.3 | -2.16 | 2.83 | 2014 | | 414,710,067 | 0.971 | 427,003,498 | 451.8 | 2.61 | 2.81 | 2015 | | 433,088,249 | 0.973 | 445,110,689 | 470.9 | 4.24 | 2.80 | 2016 | | 444,691,432 | 0.983 | 452,455,570 | 478.7 | 1.65 | 2.80 | 2017 | | 462,372,199 | 1.000 | 462,372,199 | 489.2 | 2.19 | 2.78 | 2018 | | 479,766,611 | 1.020 | 470,142,788 | 497.4 | 1.68 | 2.74 | 2019 | | 501,811,571 | 1.035 | 484,781,207 | 512.9 | 3.11 | 2.74 | 2020 | | 530,920,445 | 1.046 | 507,402,346 | 536.8 | 4.67 | 2.71 | 2021 | | 578,639,738 | 1.090 | 530,857,275 | 561.7 | 4.62 | 2.70 | 2022 | | 599,041,951 | 1.160 | 516,224,116 | 546.2 | -2.76 | 2.75 |
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_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, 1969-2022 | | | | | | | | 1969 | | 791,229,000 | 0.189 | 4,190,165,758 | 100.0 | N | 1970 | | 855,525,000 | 0.198 | 4,328,265,709 | 103.3 | 3.30 | 1971 | | 924,613,000 | 0.206 | 4,487,323,465 | 107.1 | 3.67 | 1972 | | 1,016,408,000 | 0.213 | 4,770,076,966 | 113.8 | 6.30 | 1973 | | 1,133,468,000 | 0.225 | 5,047,731,018 | 120.5 | 5.82 | 1974 | | 1,244,912,000 | 0.248 | 5,021,223,733 | 119.8 | -0.53 | 1975 | | 1,362,505,000 | 0.269 | 5,072,617,275 | 121.1 | 1.02 | 1976 | | 1,495,704,000 | 0.283 | 5,279,017,400 | 126.0 | 4.07 | 1977 | | 1,651,632,000 | 0.302 | 5,473,329,799 | 130.6 | 3.68 | 1978 | | 1,855,849,000 | 0.323 | 5,749,934,936 | 137.2 | 5.05 | 1979 | | 2,073,296,000 | 0.351 | 5,899,598,782 | 140.8 | 2.60 | 1980 | | 2,313,972,000 | 0.389 | 5,944,235,512 | 141.9 | 0.76 | 1981 | | 2,590,995,000 | 0.424 | 6,108,676,176 | 145.8 | 2.77 | 1982 | | 2,777,640,000 | 0.448 | 6,204,105,336 | 148.1 | 1.56 | 1983 | | 2,969,333,000 | 0.467 | 6,361,584,112 | 151.8 | 2.54 | 1984 | | 3,275,415,000 | 0.484 | 6,761,937,695 | 161.4 | 6.29 | 1985 | | 3,508,482,000 | 0.501 | 6,999,046,441 | 167.0 | 3.51 | 1986 | | 3,717,756,000 | 0.512 | 7,258,548,586 | 173.2 | 3.71 | 1987 | | 3,931,800,000 | 0.528 | 7,446,308,852 | 177.7 | 2.59 | 1988 | | 4,264,433,000 | 0.549 | 7,772,592,728 | 185.5 | 4.38 | 1989 | | 4,605,107,000 | 0.573 | 8,042,309,775 | 191.9 | 3.47 | 1990 | | 4,897,332,000 | 0.598 | 8,192,943,538 | 195.5 | 1.87 | 1991 | | 5,072,291,000 | 0.618 | 8,211,045,100 | 196.0 | 0.22 | 1992 | | 5,406,546,000 | 0.634 | 8,524,985,809 | 203.5 | 3.82 | 1993 | | 5,643,648,000 | 0.650 | 8,682,535,385 | 207.2 | 1.85 | 1994 | | 5,933,938,000 | 0.664 | 8,942,579,420 | 213.4 | 3.00 | 1995 | | 6,278,125,000 | 0.678 | 9,266,058,093 | 221.1 | 3.62 | 1996 | | 6,660,854,000 | 0.692 | 9,625,094,288 | 229.7 | 3.87 | 1997 | | 7,068,422,000 | 0.704 | 10,039,373,926 | 239.6 | 4.30 | 1998 | | 7,584,003,000 | 0.710 | 10,686,661,406 | 255.0 | 6.45 | 1999 | | 7,978,449,000 | 0.720 | 11,081,025,264 | 264.5 | 3.69 | 2000 | | 8,620,234,000 | 0.738 | 11,677,052,911 | 278.7 | 5.38 | 2001 | | 8,990,104,000 | 0.753 | 11,938,732,039 | 284.9 | 2.24 | 2002 | | 9,146,700,000 | 0.763 | 11,989,225,466 | 286.1 | 0.42 | 2003 | | 9,474,684,000 | 0.779 | 12,163,560,736 | 290.3 | 1.45 | 2004 | | 10,008,929,000 | 0.798 | 12,538,275,270 | 299.2 | 3.08 | 2005 | | 10,540,800,000 | 0.821 | 12,834,755,927 | 306.3 | 2.36 | 2006 | | 11,291,446,000 | 0.844 | 13,372,153,008 | 319.1 | 4.19 | 2007 | | 11,925,044,000 | 0.866 | 13,769,145,681 | 328.6 | 2.97 | 2008 | | 12,423,410,000 | 0.892 | 13,932,275,429 | 332.5 | 1.18 | 2009 | | 12,058,253,000 | 0.889 | 13,560,635,845 | 323.6 | -2.67 | 2010 | | 12,547,501,000 | 0.905 | 13,862,497,514 | 330.8 | 2.23 | 2011 | | 13,299,818,000 | 0.928 | 14,331,082,712 | 342.0 | 3.38 | 2012 | | 13,905,749,000 | 0.945 | 14,709,785,897 | 351.1 | 2.64 | 2013 | | 14,063,283,000 | 0.958 | 14,682,748,144 | 350.4 | -0.18 | 2014 | | 14,778,160,000 | 0.971 | 15,216,235,418 | 363.1 | 3.63 | 2015 | | 15,467,113,000 | 0.973 | 15,896,476,839 | 379.4 | 4.47 | 2016 | | 15,884,741,000 | 0.983 | 16,162,082,333 | 385.7 | 1.67 | 2017 | | 16,658,962,000 | 1.000 | 16,658,962,000 | 397.6 | 3.07 | 2018 | | 17,514,402,000 | 1.020 | 17,163,073,878 | 409.6 | 3.03 | 2019 | | 18,343,601,000 | 1.035 | 17,721,060,157 | 422.9 | 3.25 | 2020 | | 19,609,985,000 | 1.046 | 18,741,324,605 | 447.3 | 5.76 | 2021 | | 21,392,812,000 | 1.090 | 19,626,252,970 | 468.4 | 4.72 | 2022 | | 21,820,248,000 | 1.160 | 18,803,588,325 | 448.8 | -4.19 |
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_300_PN | | | | |
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