Introduction
Pennsylvania vs. United States
Pennsylvania:
2021 Earnings = $541,897,312K
2021 Percent of U.S. = 3.8%
U.S.:
2021 Earnings = $14,381,784,636K
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.
Page 2 of 11
Pennsylvania Total Industry Earnings, 1959-2021
Current vs. Constant Dollars (Millions)
Pennsylvania Total Industry Earnings, 1959-2021
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Pennsylvania's annual total industry earnings over 1959-2021 in current and constant (2012) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Pennsylvania over time.
When measured in current dollars, Pennsylvania's total industry earnings increased 2,430.8%, from $21,413M in 1959 to $541,897M in 2021. When measured in constant 2012 dollars to adjust for inflation, it advanced 254.3%, from $132,372M in 1959 to $469,057M in 2021.
Page 3 of 11
Real Total Industry Earnings Indices (1958=100): 1958-2021
Real Total Industry Earnings Indices (1958=100): 1958-2021
Figure 2.
Figure 2 portrays Pennsylvania's real total industry earnings 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 total industry earnings in 1958 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 1958 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.
Pennsylvania's overall real total industry earnings growth was 268.7% over 1958-2021 trailed the United States' increase of 535.0%.
Page 4 of 11
Total Industry Earnings as a Percent of the United States Total: 1958-2021
Total Industry Earnings as a Percent of the United States Total: 1958-2021
Figure 3.
Another interesting and insightful way of comparing the total industry earnings growth of Pennsylvania is to compare its individual percentage contributions to the United States' total 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 the United States' total industry earnings, while a declining share shows it grew more slowly.
In 1958, Pennsylvania's total industry earnings totaled 6.5% of the United States' total industry earnings, while in 2021 it comprised 3.8% thereby yielding a -2.7% share-shift.
   
 
Total Industry Earnings Share-Shift
2021 vs. 1958
 
Share-
Shift*
 
2021
vs.
1958
-2.72%
=
3.77%
-
6.49%
 
   
Page 5 of 11
Pennsylvania Real Total Industry Earnings:
Annual Percent Change, 1959-2021
Pennsylvania Real Total Industry Earnings:
Annual Percent Change, 1959-2021
Figure 4.
Figure 4 displays the short-run pattern of Pennsylvania's real total industry earnings growth by tracking the year-to-year percent change over 1959-2021. The average annual percent change for the entire 63-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, Pennsylvania's real total industry earnings grew at an annual rate of 2.12% over 1959-2021. The state recorded its highest growth in 1966 (7.05%) and recorded its lowest growth in 1980 (-4.28%). In 2021, Pennsylvania's real total industry earnings grew by 2.89%
Page 6 of 11
Pennsylvania Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1959-2021
Pennsylvania Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1959-2021
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 depicts the annual percent change in Pennsylvania's real total industry earnings since 1959, but this time they are displayed with average growth rates for the decade of the 1960s, 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2021.
During the 1960s, Pennsylvania's annual real total industry earnings growth rate averaged 3.83%. It averaged 1.96% during the 1970s, 1.39% in the 1980s, 2.39% throughout the 1990s, 1.30% in the 2000s, 1.95% during the 2010s, 0.67% thus far this decade (2020-2021).
Page 7 of 11
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 Pennsylvania noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total industry earnings growth trends, Pennsylvania recorded underneath the nation in the 1960s (3.83% vs. 4.72%), lagged the nation over the 1970s (1.96% vs. 3.13%), lagged the nation during the 1980s (1.39% vs. 2.62%), lagged the nation over the 1990s (2.39% vs. 3.43%), fell under the nation throughout the 2000s (1.30% vs. 1.47%), lagged the nation throughout the 2010s (1.95% vs. 2.52%), and fell under the nation over 2020-2021 (0.67% vs. 2.53%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.12
3.83
1.96
1.39
2.39
1.30
1.95
0.67
2.89
 
3.01
4.72
3.13
2.62
3.43
1.47
2.52
2.53
4.87
 
   
Page 8 of 11

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

   
 
Pennsylvania:
Total Industry Earnings, 1958-2021
 
1958
 
20,276,068
0.159
127,218,396
100.0
N
6.49
1959
 
21,412,504
0.162
132,372,057
104.1
4.05
6.41
1960
 
22,245,348
0.164
135,304,106
106.4
2.22
6.39
1961
 
22,436,013
0.166
135,059,072
106.2
-0.18
6.23
1962
 
23,467,145
0.168
139,635,517
109.8
3.39
6.12
1963
 
24,305,023
0.170
142,911,877
112.3
2.35
6.04
1964
 
26,067,575
0.173
151,081,343
118.8
5.72
6.06
1965
 
27,928,433
0.175
159,572,809
125.4
5.62
6.02
1966
 
30,651,595
0.179
170,818,073
134.3
7.05
6.00
1967
 
32,535,244
0.184
176,870,041
139.0
3.54
5.99
1968
 
35,102,219
0.191
183,637,034
144.3
3.83
5.89
1969
 
38,436,880
0.200
192,415,298
151.2
4.78
5.88
1970
 
40,518,691
0.209
193,776,619
152.3
0.71
5.84
1971
 
42,410,893
0.218
194,563,231
152.9
0.41
5.72
1972
 
46,349,756
0.225
205,615,101
161.6
5.68
5.65
1973
 
51,119,285
0.238
215,184,732
169.1
4.65
5.56
1974
 
55,468,407
0.262
211,477,399
166.2
-1.72
5.58
1975
 
58,846,636
0.284
207,097,083
162.8
-2.07
5.55
1976
 
64,245,467
0.300
214,337,316
168.5
3.50
5.48
1977
 
70,701,225
0.319
221,474,251
174.1
3.33
5.42
1978
 
78,472,312
0.341
229,820,800
180.7
3.77
5.32
1979
 
86,595,068
0.372
232,920,189
183.1
1.35
5.25
1980
 
91,820,100
0.412
222,961,731
175.3
-4.28
5.15
1981
 
98,824,648
0.449
220,241,688
173.1
-1.22
5.04
1982
 
101,160,396
0.474
213,585,280
167.9
-3.02
4.93
1983
 
105,242,230
0.494
213,135,870
167.5
-0.21
4.81
1984
 
114,855,224
0.512
224,138,368
176.2
5.16
4.72
1985
 
121,615,883
0.530
229,329,794
180.3
2.32
4.65
1986
 
128,098,226
0.542
236,413,380
185.8
3.09
4.60
1987
 
138,139,838
0.559
247,318,661
194.4
4.61
4.61
1988
 
150,812,088
0.580
259,850,594
204.3
5.07
4.63
1989
 
161,088,577
0.606
265,945,613
209.0
2.35
4.65
1990
 
170,011,240
0.632
268,873,243
211.3
1.10
4.62
1991
 
174,840,776
0.653
267,565,653
210.3
-0.49
4.61
1992
 
186,564,505
0.671
278,093,379
218.6
3.93
4.60
1993
 
193,773,307
0.688
281,819,289
221.5
1.34
4.57
1994
 
201,208,862
0.702
286,650,894
225.3
1.71
4.51
1995
 
208,258,794
0.717
290,576,096
228.4
1.37
4.45
1996
 
217,005,925
0.732
296,439,983
233.0
2.02
4.38
1997
 
228,564,468
0.745
306,888,568
241.2
3.52
4.32
1998
 
242,081,729
0.751
322,474,662
253.5
5.08
4.24
1999
 
256,072,351
0.762
336,211,794
264.3
4.26
4.20
2000
 
272,672,491
0.781
349,177,220
274.5
3.86
4.13
2001
 
284,766,797
0.797
357,495,728
281.0
2.38
4.15
2002
 
291,631,096
0.807
361,367,867
284.1
1.08
4.17
2003
 
301,827,015
0.824
366,303,812
287.9
1.37
4.17
2004
 
322,210,601
0.844
381,571,712
299.9
4.17
4.20
2005
 
334,766,403
0.869
385,338,187
302.9
0.99
4.16
2006
 
346,784,260
0.893
388,240,590
305.2
0.75
4.07
2007
 
363,059,572
0.916
396,292,676
311.5
2.07
4.09
2008
 
369,784,029
0.943
392,031,836
308.2
-1.08
4.10
2009
 
359,231,170
0.941
381,908,922
300.2
-2.58
4.13
2010
 
375,556,337
0.957
392,238,229
308.3
2.70
4.16
2011
 
392,474,666
0.982
399,790,838
314.3
1.93
4.16
2012
 
406,819,579
1.000
406,819,579
319.8
1.76
4.11
2013
 
422,104,203
1.014
416,465,263
327.4
2.37
4.13
2014
 
436,526,786
1.029
424,277,884
333.5
1.88
4.08
2015
 
452,974,946
1.031
439,286,770
345.3
3.54
4.08
2016
 
461,670,164
1.041
443,282,794
348.4
0.91
4.06
2017
 
476,028,833
1.061
448,867,840
352.8
1.26
3.99
2018
 
494,795,508
1.083
456,798,970
359.1
1.77
3.95
2019
 
509,029,354
1.099
463,082,326
364.0
1.38
3.91
2020
 
507,034,006
1.112
455,863,345
358.3
-1.56
3.84
2021
 
541,897,312
1.155
469,057,390
368.7
2.89
3.77
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
March 2022
REAP_PI_SA1400_1200_PN
 
   
Page 9 of 11

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, 1958-2021
 
1958
 
312,448,433
0.159
1,960,399,253
100.0
N
1959
 
334,064,584
0.162
2,065,186,597
105.3
5.35
1960
 
348,226,000
0.164
2,118,034,183
108.0
2.56
1961
 
359,911,000
0.166
2,166,572,357
110.5
2.29
1962
 
383,422,000
0.168
2,281,459,003
116.4
5.30
1963
 
402,628,000
0.170
2,367,425,178
120.8
3.77
1964
 
430,423,000
0.173
2,494,627,333
127.3
5.37
1965
 
463,749,000
0.175
2,649,691,464
135.2
6.22
1966
 
510,521,000
0.179
2,845,079,135
145.1
7.37
1967
 
543,468,000
0.184
2,954,433,270
150.7
3.84
1968
 
595,758,000
0.191
3,116,704,159
159.0
5.49
1969
 
653,665,000
0.200
3,272,251,702
166.9
4.99
1970
 
693,352,000
0.209
3,315,887,135
169.1
1.33
1971
 
742,094,000
0.218
3,404,413,249
173.7
2.67
1972
 
819,646,000
0.225
3,636,083,755
185.5
6.81
1973
 
918,964,000
0.238
3,868,344,839
197.3
6.39
1974
 
993,909,000
0.262
3,789,351,481
193.3
-2.04
1975
 
1,059,492,000
0.284
3,728,636,284
190.2
-1.60
1976
 
1,173,271,000
0.300
3,914,295,723
199.7
4.98
1977
 
1,303,767,000
0.319
4,084,099,239
208.3
4.34
1978
 
1,476,080,000
0.341
4,322,975,546
220.5
5.85
1979
 
1,648,363,000
0.372
4,433,705,417
226.2
2.56
1980
 
1,784,597,000
0.412
4,333,439,367
221.0
-2.26
1981
 
1,961,173,000
0.449
4,370,691,538
222.9
0.86
1982
 
2,053,729,000
0.474
4,336,146,359
221.2
-0.79
1983
 
2,188,018,000
0.494
4,431,159,626
226.0
2.19
1984
 
2,432,402,000
0.512
4,746,798,587
242.1
7.12
1985
 
2,615,791,000
0.530
4,932,569,629
251.6
3.91
1986
 
2,786,901,000
0.542
5,143,402,111
262.4
4.27
1987
 
2,996,000,000
0.559
5,363,888,640
273.6
4.29
1988
 
3,259,979,000
0.580
5,616,973,362
286.5
4.72
1989
 
3,467,027,000
0.606
5,723,811,332
292.0
1.90
1990
 
3,679,460,000
0.632
5,819,076,086
296.8
1.66
1991
 
3,789,428,000
0.653
5,799,109,343
295.8
-0.34
1992
 
4,059,023,000
0.671
6,050,386,811
308.6
4.33
1993
 
4,237,437,000
0.688
6,162,827,598
314.4
1.86
1994
 
4,456,948,000
0.702
6,349,561,922
323.9
3.03
1995
 
4,674,849,000
0.717
6,522,650,723
332.7
2.73
1996
 
4,956,180,000
0.732
6,770,367,740
345.4
3.80
1997
 
5,288,047,000
0.745
7,100,146,352
362.2
4.87
1998
 
5,707,014,000
0.751
7,602,256,561
387.8
7.07
1999
 
6,098,042,000
0.762
8,006,462,371
408.4
5.32
2000
 
6,598,743,000
0.781
8,450,176,719
431.0
5.54
2001
 
6,865,291,000
0.797
8,618,674,048
439.6
1.99
2002
 
7,001,002,000
0.807
8,675,128,250
442.5
0.66
2003
 
7,243,377,000
0.824
8,790,719,435
448.4
1.33
2004
 
7,674,785,000
0.844
9,088,716,649
463.6
3.39
2005
 
8,039,238,000
0.869
9,253,692,619
472.0
1.82
2006
 
8,519,349,000
0.893
9,537,794,720
486.5
3.07
2007
 
8,866,152,000
0.916
9,677,726,112
493.7
1.47
2008
 
9,014,034,000
0.943
9,556,357,275
487.5
-1.25
2009
 
8,688,852,000
0.941
9,237,366,843
471.2
-3.34
2010
 
9,023,830,000
0.957
9,424,660,825
480.8
2.03
2011
 
9,444,365,000
0.982
9,620,418,662
490.7
2.08
2012
 
9,902,321,000
1.000
9,902,321,000
505.1
2.93
2013
 
10,232,098,000
1.014
10,095,406,200
515.0
1.95
2014
 
10,688,401,000
1.029
10,388,485,426
529.9
2.90
2015
 
11,115,543,000
1.031
10,779,649,133
549.9
3.77
2016
 
11,384,770,000
1.041
10,931,338,096
557.6
1.41
2017
 
11,926,173,000
1.061
11,245,695,939
573.6
2.88
2018
 
12,515,233,000
1.083
11,554,158,127
589.4
2.74
2019
 
13,024,685,000
1.099
11,849,024,763
604.4
2.55
2020
 
13,202,475,000
1.112
11,870,060,688
605.5
0.18
2021
 
14,381,784,636
1.155
12,448,635,958
635.0
4.87
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
March 2022
REAP_PI_SA1400_1200_PN
 
   
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