Mississippi vs. United States
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1958-2022
Introduction
Mississippi vs. United States
Mississippi:
2022 PCI = $46,370
U.S.:
2022 PCI = $65,470
Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives.
Data Definition:
Personal income is the income that is received by persons from all sources. It is calculated as the sum of wage and salary disbursements, 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 tranfer receipts, less contributions for government social insurance. This measure of income is calculated as the personal income of the residents of a given area divided by the resident population of the area. In computing per capita personal income, BEA uses the Census Bureau's annual midyear population estimates.
Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year.
For smaller states in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant.
Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent states may exhibit sharp fluctuations over time.
The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation.
Mississippi Per Capita Personal Income, 1959-2022
Current vs. Constant Dollars
Mississippi Per Capita Personal Income, 1959-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Mississippi's annual per capita personal income over 1959-2022 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 Mississippi over time.
When measured in current dollars, Mississippi's per capita personal income increased 3,536.25%, from $1,275 in 1959 to $46,370 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 379.12%, from $8,340 in 1959 to $39,959 in 2022.
Real Per Capita Personal Income Indices (1958=100): 1958-2022
Real Per Capita Personal Income Indices (1958=100): 1958-2022
Figure 2.
Figure 2 shows Mississippi's real per capita personal income growth in a broader context by offering direct comparisons across time with the United States. The growth indices shown here express each region's real per capita personal income in 1958 as a base figure of 100, and the real per capita personal incomes in later years as a percentage of the 1958 base figure. This method allows for more direct comparison of differences in real per capita personal income growth between regions that may differ vastly in size.
Mississippi's overall real per capita personal income growth was 410.05% over 1958-2022 outpaced the United States' increase of 293.54%.
Per Capita Personal Income as a Percent of the U.S. Average: 1958-2022
Per Capita Personal Income as a Percent of the U.S. Average: 1958-2022
Figure 3.
Figure 3 portrays the trends for per capita personal income relative to the national average by tracing Mississippi per capita personal income as a percent of the national average over 1958-2022.
In 1958, Mississippi's per capita personal income amounted to 54.65% of the national average; in 2022, it approximated 70.83%.
Mississippi Real Per Capita Personal Income:
Annual Percent Change, 1959-2022
Mississippi Real Per Capita Personal Income:
Annual Percent Change, 1959-2022
Figure 4.
Figure 4 displays the short-run pattern of Mississippi's real per capita personal income growth by tracking the year-to-year percent change over 1959-2022. The average annual percent change for the entire 64-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, Mississippi's real per capita personal income grew at an annual rate of 2.62% over 1959-2022. The state recorded its highest growth in 1963 (8.54%) and posted its lowest growth in 2022 (-6.49%). In 2022, Mississippi's real per capita personal income declined by -6.49%
Mississippi Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022
Mississippi Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022
Figure 5.
Over the past six decades some states have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 5 again shows the annual percent change in Mississippi's real per capita personal income since 1959, but this time they are overlayed with average growth rates for the decade of the 1960s, 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1960s, Mississippi's annual real per capita personal income growth rate averaged 4.76%. It averaged 3.67% throughout the 1970s, 1.65% in the 1980s, 2.62% in the 1990s, 1.71% in the 2000s, 1.08% during the 2010s, 2.03% thus far this decade (2020-2022).
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Figure 6.
Figure 6 compares the decade average growth rates for Mississippi noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real per capita personal income growth trends, Mississippi outpaced the nation over the 1960s (4.76% vs. 3.49%), topped the nation during the 1970s (3.67% vs. 2.37%), trailed the nation during the 1980s (1.65% vs. 2.19%), exceeded the nation in the 1990s (2.62% vs. 2.01%), led the nation over the 2000s (1.71% vs. 1.10%), lagged the nation over the 2010s (1.08% vs. 1.97%), and topped the nation over 2020-2022 (2.03% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
2.62
4.76
3.67
1.65
2.62
1.71
1.08
2.03
-6.49
 
2.18
3.49
2.37
2.19
2.01
1.10
1.97
1.78
-4.55
 
   

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

   
 
Mississippi:
Per Capita Personal Income, 1958-2022
 
1958
 
1,180
0.151
7,834
100.0
N
54.65
1959
 
1,275
0.153
8,340
106.5
6.46
56.43
1960
 
1,267
0.155
8,150
104.0
-2.27
54.58
1961
 
1,359
0.157
8,652
110.4
6.15
57.01
1962
 
1,397
0.159
8,791
112.2
1.61
55.90
1963
 
1,534
0.161
9,542
121.8
8.54
59.26
1964
 
1,590
0.163
9,750
124.4
2.18
58.14
1965
 
1,722
0.165
10,411
132.9
6.79
59.04
1966
 
1,879
0.170
11,075
141.4
6.38
59.94
1967
 
2,048
0.174
11,779
150.3
6.35
61.55
1968
 
2,250
0.181
12,454
159.0
5.73
62.22
1969
 
2,496
0.189
13,217
168.7
6.13
63.50
1970
 
2,736
0.198
13,842
176.7
4.73
65.18
1971
 
2,974
0.206
14,432
184.2
4.26
66.52
1972
 
3,327
0.213
15,616
199.3
8.20
68.51
1973
 
3,736
0.225
16,638
212.4
6.55
69.66
1974
 
4,056
0.248
16,360
208.8
-1.67
69.51
1975
 
4,360
0.269
16,231
207.2
-0.79
68.94
1976
 
4,887
0.283
17,249
220.2
6.27
71.09
1977
 
5,375
0.302
17,813
227.4
3.27
71.52
1978
 
5,917
0.323
18,332
234.0
2.92
70.81
1979
 
6,634
0.351
18,876
240.9
2.96
71.85
1980
 
7,168
0.389
18,415
235.0
-2.44
70.39
1981
 
8,007
0.424
18,877
240.9
2.51
70.91
1982
 
8,394
0.448
18,749
239.3
-0.68
70.01
1983
 
8,746
0.467
18,738
239.2
-0.06
68.86
1984
 
9,509
0.484
19,630
250.6
4.76
68.46
1985
 
9,974
0.501
19,898
254.0
1.36
67.64
1986
 
10,324
0.512
20,157
257.3
1.30
66.68
1987
 
10,916
0.528
20,673
263.9
2.56
67.27
1988
 
11,737
0.549
21,393
273.1
3.48
67.29
1989
 
12,707
0.573
22,191
283.3
3.73
68.10
1990
 
13,353
0.598
22,339
285.1
0.67
68.06
1991
 
13,973
0.618
22,619
288.7
1.25
69.69
1992
 
14,881
0.634
23,463
299.5
3.73
70.60
1993
 
15,656
0.650
24,086
307.4
2.65
72.10
1994
 
16,724
0.664
25,203
321.7
4.63
74.16
1995
 
17,470
0.678
25,785
329.1
2.31
74.10
1996
 
18,360
0.692
26,531
338.6
2.89
74.26
1997
 
19,219
0.704
27,297
348.4
2.89
74.13
1998
 
20,173
0.710
28,425
362.8
4.14
73.37
1999
 
20,681
0.720
28,723
366.6
1.05
72.33
2000
 
21,628
0.738
29,298
374.0
2.00
70.79
2001
 
22,806
0.753
30,285
386.6
3.37
72.29
2002
 
23,202
0.763
30,412
388.2
0.42
72.96
2003
 
24,060
0.779
30,888
394.3
1.57
73.67
2004
 
25,287
0.798
31,677
404.3
2.55
73.98
2005
 
26,716
0.821
32,530
415.2
2.69
74.90
2006
 
27,827
0.844
32,954
420.6
1.30
73.53
2007
 
29,432
0.866
33,983
433.8
3.12
74.35
2008
 
30,736
0.892
34,469
440.0
1.43
75.23
2009
 
30,220
0.889
33,985
433.8
-1.40
76.88
2010
 
31,213
0.905
34,484
440.2
1.47
76.96
2011
 
32,454
0.928
34,970
446.4
1.41
76.09
2012
 
33,441
0.945
35,375
451.5
1.16
75.59
2013
 
33,976
0.958
35,473
452.8
0.28
76.52
2014
 
34,624
0.971
35,650
455.1
0.50
74.80
2015
 
35,100
0.973
36,074
460.5
1.19
73.03
2016
 
35,638
0.983
36,260
462.8
0.52
72.77
2017
 
36,580
1.000
36,580
466.9
0.88
71.72
2018
 
37,624
1.020
36,870
470.6
0.79
70.58
2019
 
39,157
1.035
37,828
482.9
2.60
70.49
2020
 
42,513
1.046
40,630
518.6
7.41
71.87
2021
 
46,577
1.090
42,730
545.4
5.17
72.29
2022
 
46,370
1.160
39,959
510.1
-6.49
70.83
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
November 2023
REAP_PI_SA1400_700_PN
 
   

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

   
 
United States:
Per Capita Personal Income, 1958-2022
 
1958
 
2,160
0.151
14,336
100.0
N
1959
 
2,260
0.153
14,781
103.1
3.10
1960
 
2,321
0.155
14,934
104.2
1.04
1961
 
2,383
0.157
15,177
105.9
1.63
1962
 
2,498
0.159
15,725
109.7
3.61
1963
 
2,589
0.161
16,101
112.3
2.39
1964
 
2,735
0.163
16,770
117.0
4.16
1965
 
2,918
0.165
17,636
123.0
5.16
1966
 
3,134
0.170
18,477
128.9
4.77
1967
 
3,328
0.174
19,137
133.5
3.57
1968
 
3,617
0.181
20,017
139.6
4.59
1969
 
3,931
0.189
20,816
145.2
3.99
1970
 
4,198
0.198
21,238
148.1
2.03
1971
 
4,471
0.206
21,697
151.3
2.16
1972
 
4,857
0.213
22,793
159.0
5.05
1973
 
5,363
0.225
23,883
166.6
4.78
1974
 
5,836
0.248
23,537
164.2
-1.45
1975
 
6,324
0.269
23,544
164.2
0.03
1976
 
6,875
0.283
24,265
169.3
3.07
1977
 
7,516
0.302
24,906
173.7
2.64
1978
 
8,356
0.323
25,889
180.6
3.95
1979
 
9,232
0.351
26,271
183.2
1.47
1980
 
10,184
0.389
26,160
182.5
-0.42
1981
 
11,291
0.424
26,621
185.7
1.76
1982
 
11,990
0.448
26,781
186.8
0.60
1983
 
12,701
0.467
27,210
189.8
1.61
1984
 
13,889
0.484
28,674
200.0
5.38
1985
 
14,746
0.501
29,417
205.2
2.59
1986
 
15,482
0.512
30,227
210.8
2.75
1987
 
16,228
0.528
30,733
214.4
1.67
1988
 
17,442
0.549
31,790
221.7
3.44
1989
 
18,658
0.573
32,584
227.3
2.50
1990
 
19,619
0.598
32,821
228.9
0.73
1991
 
20,050
0.618
32,457
226.4
-1.11
1992
 
21,077
0.634
33,234
231.8
2.39
1993
 
21,713
0.650
33,405
233.0
0.51
1994
 
22,552
0.664
33,986
237.1
1.74
1995
 
23,577
0.678
34,798
242.7
2.39
1996
 
24,725
0.692
35,729
249.2
2.67
1997
 
25,925
0.704
36,822
256.8
3.06
1998
 
27,493
0.710
38,740
270.2
5.21
1999
 
28,592
0.720
39,711
277.0
2.51
2000
 
30,551
0.738
41,384
288.7
4.21
2001
 
31,548
0.753
41,895
292.2
1.23
2002
 
31,801
0.763
41,684
290.8
-0.50
2003
 
32,659
0.779
41,928
292.5
0.59
2004
 
34,183
0.798
42,821
298.7
2.13
2005
 
35,669
0.821
43,432
303.0
1.43
2006
 
37,843
0.844
44,816
312.6
3.19
2007
 
39,588
0.866
45,710
318.8
1.99
2008
 
40,854
0.892
45,816
319.6
0.23
2009
 
39,307
0.889
44,204
308.3
-3.52
2010
 
40,557
0.905
44,808
312.5
1.36
2011
 
42,649
0.928
45,956
320.6
2.56
2012
 
44,237
0.945
46,795
326.4
1.83
2013
 
44,401
0.958
46,357
323.4
-0.94
2014
 
46,287
0.971
47,659
332.4
2.81
2015
 
48,060
0.973
49,394
344.5
3.64
2016
 
48,971
0.983
49,826
347.6
0.88
2017
 
51,004
1.000
51,004
355.8
2.36
2018
 
53,309
1.020
52,240
364.4
2.42
2019
 
55,547
1.035
53,662
374.3
2.72
2020
 
59,153
1.046
56,533
394.3
5.35
2021
 
64,430
1.090
59,110
412.3
4.56
2022
 
65,470
1.160
56,419
393.5
-4.55
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
November 2023
REAP_PI_SA1400_700_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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