Real* Total Industry Earnings Growth by Decade,
Regions and States of the U.S., 1959-2023
Real* Total Industry Earnings Growth by State
Average Annual Percent Change, 1959-2023
Real* Total Industry Earnings Growth by State
U.S.:
1959-2023 = 2.93%
2023 = 1.89%
1960-1969 = 4.72%
1970-1979 = 3.13%
1980-1989 = 2.62%
1990-1999 = 3.43%
2000-2009 = 1.47%
2010-2019 = 2.53%
2020-2023 = 1.58%
View Distribution Totals as:Actual Percent
   
 
Real* Total Industry Earnings Growth of United States' 51 States:
Average Growth Distributions by Decade over 1959-2023
1959-2023
1960-1969
1970-1979
1980-1989
1990-1999
2000-2009
2010-2019
2020-2023
2023
More than 4.5%
2
30
15
2
9
1
0
0
1
4.5% to 4.0%
3
12
6
6
4
0
2
0
1
4.0% to 3.5%
7
4
9
7
6
1
4
5
0
3.5% to 3.0%
10
2
4
4
14
4
5
4
6
3.0% to 2.5%
16
3
6
4
9
8
5
4
7
2.5% to 2.0%
10
0
6
4
3
5
9
7
6
2.0% to 1.5%
3
0
3
6
4
8
16
8
10
1.5% or Below
0
0
2
18
2
24
10
23
20
Total
51
51
51
51
51
51
51
51
51
*Real total industry earnings determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).
 
   
   
 
United States Real* Total Industry Earnings Growth by State:
Average Annual Percent Change, 1959-2023
 
1959-2023
1960-1969
1970-1979
1980-1989
1990-1999
2000-2009
2010-2019
2020-2023
2023
State
 
%
Rank
%
Rank
%
Rank
%
Rank
%
Rank
%
Rank
%
Rank
%
Rank
%
Rank
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nevada
 
5.34
1
8.67
1
6.77
3
4.48
3
7.64
1
2.13
18
2.89
12
3.27
7
2.81
10
Arizona
 
4.75
2
6.55
4
6.66
4
4.10
7
5.71
4
2.59
12
3.03
11
3.52
5
2.67
13
Florida
 
4.44
3
6.85
3
5.28
8
5.01
2
4.13
12
1.88
22
3.22
9
3.98
2
4.02
2
Utah
 
4.20
4
4.36
33
5.55
7
2.51
22
5.74
3
2.64
11
4.32
1
3.96
3
3.07
5
Colorado
 
4.17
5
5.40
12
6.05
5
2.51
23
6.01
2
1.44
30
3.91
3
3.02
9
1.47
34
Texas
 
3.94
6
5.26
17
5.63
6
2.35
25
5.05
7
2.51
14
3.54
6
2.22
15
2.76
11
Georgia
 
3.79
7
6.29
6
3.86
24
4.31
4
5.06
6
1.13
43
2.86
14
1.56
27
1.36
36
Washington
 
3.73
8
5.24
18
4.18
18
2.43
24
5.20
5
1.48
28
4.07
2
2.92
11
3.27
4
New Hampshire
 
3.70
9
5.03
22
4.40
16
5.41
1
3.50
20
2.04
19
1.86
29
2.56
13
1.66
31
North Carolina
 
3.65
10
5.94
10
3.59
30
3.90
9
4.07
13
2.16
17
2.26
21
2.99
10
2.41
16
Idaho
 
3.55
11
4.10
42
5.00
10
1.55
33
4.92
8
1.93
21
3.58
5
3.99
1
1.70
28
Virginia
 
3.53
12
6.02
7
3.72
26
4.23
6
3.37
23
2.58
13
1.69
34
2.04
17
3.03
8
Tennessee
 
3.45
13
5.31
14
4.14
19
2.69
20
4.41
10
1.11
44
2.88
13
3.15
8
2.71
12
South Carolina
 
3.45
14
6.01
8
4.13
20
3.22
18
3.35
25
1.18
40
3.05
10
1.95
23
3.50
3
California
 
3.43
15
5.27
16
3.66
29
3.74
13
3.19
28
1.54
27
3.47
7
1.30
30
1.09
41
Alaska
 
3.43
16
6.42
5
7.88
2
2.15
27
1.39
50
3.30
3
0.82
50
0.17
46
4.61
1
Oregon
 
3.34
17
4.57
30
4.96
12
1.29
38
4.66
9
1.20
39
3.44
8
2.02
19
1.50
32
North Dakota
 
3.21
18
5.18
19
4.68
15
0.07
47
3.45
21
3.77
2
3.89
4
2.01
20
1.29
38
Hawaii
 
3.17
19
7.25
2
3.48
31
3.30
17
1.15
51
2.66
10
1.99
26
-0.30
51
2.22
20
Maryland
 
3.12
20
5.95
9
2.77
38
3.79
11
2.89
36
2.73
9
1.56
40
0.47
40
1.90
23
Minnesota
 
3.01
21
5.36
13
3.40
32
2.57
21
3.89
14
1.22
37
2.44
18
1.24
31
0.77
44
Arkansas
 
3.01
22
4.70
28
4.97
11
1.67
31
3.76
16
1.22
36
1.60
38
1.98
21
0.52
48
South Dakota
 
2.92
23
4.81
27
3.80
25
0.78
44
4.30
11
2.73
8
2.47
17
3.46
6
0.59
46
Vermont
 
2.92
24
5.29
15
2.97
36
3.81
10
2.67
40
1.73
24
1.33
44
1.34
29
1.32
37
Delaware
 
2.91
25
5.08
21
2.47
41
3.65
15
3.86
15
1.10
45
1.64
36
1.77
25
0.56
47
New Mexico
 
2.86
26
2.70
50
5.15
9
1.98
28
3.60
19
2.86
7
1.10
46
1.53
28
2.98
9
Massachusetts
 
2.84
27
4.23
36
1.82
49
4.26
5
2.81
38
1.61
26
2.80
15
0.73
39
0.36
49
Wyoming
 
2.82
28
2.58
51
8.24
1
-1.61
51
2.85
37
4.53
1
1.13
45
0.30
44
3.03
7
Oklahoma
 
2.80
29
4.35
34
4.79
14
0.77
45
2.36
45
3.15
4
2.12
23
1.20
32
1.79
26
Kentucky
 
2.73
30
4.92
24
4.06
21
1.28
39
3.27
27
1.21
38
1.77
32
2.05
16
3.07
6
Alabama
 
2.67
31
4.44
32
3.98
22
2.17
26
3.01
33
1.15
41
1.51
41
1.91
24
2.38
18
Mississippi
 
2.64
32
4.92
23
4.24
17
0.98
43
3.76
17
1.04
47
0.87
49
1.05
35
0.27
51
District of Columbia
 
2.63
33
5.51
11
2.06
45
1.96
29
1.94
47
3.02
5
2.09
24
0.32
43
1.45
35
New Jersey
 
2.59
34
4.48
31
2.36
43
3.72
14
2.54
42
1.36
32
1.57
39
0.44
41
1.16
40
Nebraska
 
2.59
35
4.27
35
2.98
35
1.55
32
3.32
26
1.98
20
2.05
25
2.03
18
2.61
14
Maine
 
2.55
36
3.50
46
3.02
34
3.78
12
1.90
48
1.42
31
1.46
42
2.88
12
1.93
22
Montana
 
2.54
37
3.27
48
3.68
28
-0.01
49
3.09
30
3.01
6
2.42
20
3.96
4
2.19
21
Louisiana
 
2.52
38
4.88
25
4.91
13
0.02
48
3.04
32
2.40
15
0.98
47
-0.21
50
1.66
30
Wisconsin
 
2.52
39
4.11
41
3.19
33
1.38
36
3.69
18
1.06
46
1.83
30
0.87
37
0.89
42
Connecticut
 
2.50
40
4.87
26
2.06
46
4.08
8
2.63
41
2.17
16
-0.25
51
0.13
47
1.74
27
Indiana
 
2.41
41
4.67
29
2.45
42
1.14
40
3.39
22
0.28
49
2.42
19
1.95
22
0.30
50
Kansas
 
2.40
42
3.45
47
3.69
27
1.36
37
3.37
24
1.84
23
1.67
35
0.99
36
2.39
17
Missouri
 
2.33
43
4.19
38
2.50
40
1.80
30
2.96
34
1.30
34
1.34
43
1.59
26
2.60
15
New York
 
2.26
44
3.95
44
0.67
51
3.38
16
2.41
43
1.13
42
2.54
16
0.40
42
1.88
24
Iowa
 
2.22
45
4.12
40
2.90
37
0.24
46
2.95
35
1.71
25
1.61
37
2.36
14
0.60
45
Rhode Island
 
2.22
46
4.21
37
1.41
50
3.06
19
1.81
49
1.27
35
1.73
33
1.14
33
1.49
33
Illinois
 
2.09
47
3.95
43
2.16
44
1.39
34
3.12
29
0.56
48
1.82
31
0.22
45
0.84
43
Michigan
 
2.06
48
5.08
20
2.52
39
1.02
42
3.08
31
-1.54
51
2.19
22
1.10
34
1.66
29
Pennsylvania
 
2.04
49
3.83
45
1.96
47
1.39
35
2.39
44
1.30
33
1.92
27
0.11
48
1.22
39
Ohio
 
1.99
50
4.18
39
1.95
48
1.14
41
2.68
39
0.07
50
1.87
28
0.83
38
1.85
25
West Virginia
 
1.59
51
2.74
49
3.91
23
-0.84
50
1.97
46
1.46
29
0.90
48
-0.10
49
2.27
19
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
2.93
4.72
3.13
2.62
3.43
1.47
2.53
1.58
1.89
*Real total industry earnings growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).
Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
April 2024
REAP_PI_SA1400_DECADES_1202A
 
   
Real* Total Industry Earnings Growth by
United States
Average Annual Percent Change, 1959-2023
Select an Alternate Regionalization:
Real* Total Industry Earnings Growth by United States
U.S.:
1959-2023 = 2.93%
2023 = 1.89%
1960-1969 = 4.72%
1970-1979 = 3.13%
1980-1989 = 2.62%
1990-1999 = 3.43%
2000-2009 = 1.47%
2010-2019 = 2.53%
2020-2023 = 1.58%
View Distribution Totals as:Actual Percent
   
 
Real* Total Industry Earnings Growth
by United States
Average Growth Distributions by Decade over 1959-2023
1959-2023
1960-1969
1970-1979
1980-1989
1990-1999
2000-2009
2010-2019
2020-2023
2023
More than 3.5%
1
4
2
0
2
0
0
0
0
3.5% to 3.0%
1
0
0
2
1
0
1
0
0
3.0% to 2.5%
0
0
1
1
0
0
1
0
1
2.5% or Below
2
0
1
1
1
4
2
4
3
Total
4
4
4
4
4
4
4
4
4
*Real total industry earnings determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).
 
   
   
 
United States Real* Total Industry Earnings Growth by Region:
Average Annual Percent Change, 1959-2023
 
1959-2023
1960-1969
1970-1979
1980-1989
1990-1999
2000-2009
2010-2019
2020-2023
2023
BEA Regions
 
%
%
%
%
%
%
%
%
%
New England
 
2.74
4.42
2.12
4.16
2.68
1.77
1.72
0.91
0.98
Mideast
 
2.36
4.22
1.53
2.94
2.48
1.45
2.08
0.37
1.57
Great Lakes
 
2.14
4.35
2.32
1.21
3.10
0.03
1.98
0.85
1.17
Plains
 
2.55
4.36
3.06
1.56
3.36
1.59
1.93
1.64
1.61
Southeast
 
3.45
5.56
4.25
3.15
3.87
1.69
2.35
2.48
2.72
Southwest
 
3.84
5.09
5.59
2.34
4.80
2.58
3.22
2.30
2.68
Rocky Mountain
 
3.81
4.47
5.68
1.81
5.41
2.03
3.70
3.30
2.01
Far West
 
3.50
5.34
3.92
3.40
3.59
1.58
3.45
1.60
1.56
 
 
 
 
 
 
 
 
 
 
 
Census Divisions
Mountain
 
4.05
4.93
5.92
2.61
5.58
2.25
3.22
3.23
2.34
Pacific
 
3.45
5.29
3.86
3.37
3.44
1.56
3.47
1.53
1.50
East North Central
 
2.14
4.35
2.32
1.21
3.10
0.03
1.98
0.85
1.17
West North Central
 
2.55
4.36
3.06
1.56
3.36
1.59
1.93
1.64
1.61
South Atlantic
 
3.60
5.95
3.83
3.92
3.78
1.98
2.44
2.38
2.76
East South Central
 
2.97
4.91
4.09
1.95
3.69
1.13
2.03
2.36
2.42
West South Central
 
3.56
5.02
5.35
1.75
4.42
2.46
3.01
1.88
2.45
New England
 
2.74
4.42
2.12
4.16
2.68
1.77
1.72
0.91
0.98
Middle Atlantic
 
2.26
4.00
1.37
2.88
2.43
1.22
2.16
0.33
1.56
 
 
 
 
 
 
 
 
 
 
 
Census Regions
West
 
3.59
5.21
4.29
3.20
3.94
1.74
3.40
1.98
1.73
Midwest
 
2.26
4.35
2.51
1.30
3.17
0.50
1.96
1.10
1.32
South
 
3.48
5.47
4.35
2.89
3.96
2.00
2.56
2.20
2.61
Northeast
 
2.38
4.10
1.54
3.20
2.49
1.37
2.04
0.49
1.40
 
 
 
 
 
 
 
 
 
 
 
United States
 
2.93
4.72
3.13
2.62
3.43
1.47
2.53
1.58
1.89
*Real total industry earnings growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).
Source: Calculations by the United States Regional Economic Analysis Project (US-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
April 2024
REAP_PI_SA1400_DECADES_1202B
 
   
A Note on Real* Total Industry Earnings
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 states.
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 state 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.
Copyright © 2024. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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