Georgia vs. United States
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1958-2017
Introduction
Georgia:
2017 Earnings = $334,405,061K
2017 Percent of U.S. = 2.9%
U.S.:
2017 Earnings = $11,678,482,122K
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.
Georgia Total Industry Earnings, 1958-2017
Current vs. Constant Dollars (Millions)
Georgia Total Industry Earnings, 1958-2017
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Georgia's annual total industry earnings over 1958-2017 in current and constant (2009) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Georgia over time.
When measured in current dollars, Georgia's total industry earnings increased 6,163.1%, from $5,339M in 1958 to $334,405M in 2017. When measured in constant 2009 dollars to adjust for inflation, it advanced 844.9%, from $31,415M in 1958 to $296,835M in 2017.
Real Total Industry Earnings Indices (1958=100): 1958-2017
Real Total Industry Earnings Indices (1958=100): 1958-2017
Figure 2.
Figure 2 portrays Georgia'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.
Georgia's overall real total industry earnings growth was 844.9% over 1958-2017 outpaced the United States' increase of 463.1%.
Total Industry Earnings as a Percent of the United States Total: 1958-2017
Total Industry Earnings as a Percent of the United States Total: 1958-2017
Figure 3.
Another interesting and insightful way of highlighting the total industry earnings growth of Georgia is to trace 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, Georgia's total industry earnings comprised 1.7% of the United States' total industry earnings, while in 2017 it comprised 2.9% thereby yielding a +1.2% share-shift.
   
 
Total Industry Earnings Share-Shift
2017 vs. 1958
 
Share-
Shift*
 
2017
vs.
1958
+1.16%
=
2.86%
-
1.71%
 
   
Georgia Real Total Industry Earnings:
Annual Percent Change, 1959-2017
Georgia Real Total Industry Earnings:
Annual Percent Change, 1959-2017
Figure 4.
Figure 4 shows the short-run pattern of Georgia's real total industry earnings growth by tracking the year-to-year percent change over 1959-2017. The average annual percent change for the entire 59-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, Georgia's real total industry earnings grew at an annual rate of 3.93% over 1959-2017. The state recorded its highest growth in 1984 (10.38%) and recorded its lowest growth in 2008 (-3.78%). In 2017, Georgia's real total industry earnings grew by 2.21%
Georgia Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1959-2017
Georgia Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1959-2017
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 illustrates the annual percent change in Georgia's real total industry earnings since 1959, but this time they are overlayed with average growth rates for the decade of the 1960s, 1970s, 1980s, 1990s, 2000s, and 2010-2017.
During the 1960s, Georgia's annual real total industry earnings growth rate averaged 6.29%. It averaged 3.85% throughout the 1970s, 4.30% during the 1980s, 5.10% throughout the 1990s, 1.30% throughout the 2000s, and 2.31% thus far this decade (2010 to 2017).
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 Georgia noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total industry earnings growth trends, Georgia outperformed the nation during the 1960s (6.29% vs. 4.73%), outperformed the nation over the 1970s (3.85% vs. 3.12%), registered above the nation in the 1980s (4.30% vs. 2.61%), outpaced the nation throughout the 1990s (5.10% vs. 3.46%), posted below the nation over the 2000s (1.30% vs. 1.53%), and surpassed the nation over 2010-2017 (2.31% vs. 2.16%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
3.93
6.29
3.85
4.30
5.10
1.30
2.31
2.21
 
3.00
4.73
3.12
2.61
3.46
1.53
2.16
1.59
 
   

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

   
 
Georgia:
Total Industry Earnings, 1958-2017
 
1958
 
5,339,264
0.170
31,414,827
100.0
N
1.71
1959
 
5,694,979
0.173
33,012,457
105.1
5.09
1.70
1960
 
5,936,790
0.175
33,856,801
107.8
2.56
1.70
1961
 
6,121,385
0.177
34,547,012
110.0
2.04
1.70
1962
 
6,602,081
0.179
36,825,530
117.2
6.60
1.72
1963
 
7,208,631
0.181
39,745,443
126.5
7.93
1.79
1964
 
7,804,237
0.184
42,407,417
135.0
6.70
1.81
1965
 
8,605,814
0.187
46,096,813
146.7
8.70
1.85
1966
 
9,615,679
0.191
50,230,784
159.9
8.97
1.88
1967
 
10,422,653
0.196
53,109,060
169.1
5.73
1.91
1968
 
11,566,851
0.204
56,730,840
180.6
6.82
1.94
1969
 
12,921,130
0.213
60,625,581
193.0
6.87
1.97
1970
 
13,752,289
0.223
61,639,052
196.2
1.67
1.98
1971
 
15,081,837
0.233
64,843,016
206.4
5.20
2.03
1972
 
17,000,177
0.241
70,672,114
225.0
8.99
2.07
1973
 
19,291,594
0.254
76,094,959
242.2
7.67
2.09
1974
 
20,732,959
0.280
74,067,444
235.8
-2.66
2.08
1975
 
21,679,648
0.303
71,479,222
227.5
-3.49
2.04
1976
 
24,476,629
0.320
76,506,201
243.5
7.03
2.08
1977
 
27,333,299
0.341
80,212,757
255.3
4.84
2.09
1978
 
31,177,868
0.365
85,505,493
272.2
6.60
2.11
1979
 
34,858,201
0.397
87,812,880
279.5
2.70
2.11
1980
 
37,836,951
0.440
86,073,275
274.0
-1.98
2.12
1981
 
42,206,162
0.478
88,240,183
280.9
2.52
2.15
1982
 
45,166,894
0.505
89,474,830
284.8
1.40
2.20
1983
 
49,595,297
0.527
94,192,728
299.8
5.27
2.27
1984
 
56,815,835
0.546
103,972,614
331.0
10.38
2.33
1985
 
62,656,458
0.566
110,735,672
352.5
6.50
2.39
1986
 
68,872,371
0.578
119,143,983
379.3
7.59
2.47
1987
 
74,584,737
0.597
125,037,279
398.0
4.95
2.49
1988
 
81,322,176
0.620
131,219,828
417.7
4.94
2.49
1989
 
86,049,656
0.646
133,119,314
423.7
1.45
2.48
1990
 
91,538,137
0.674
135,732,706
432.1
1.96
2.49
1991
 
95,231,119
0.697
136,724,170
435.2
0.73
2.51
1992
 
103,849,775
0.715
145,256,630
462.4
6.24
2.56
1993
 
110,312,577
0.733
150,537,776
479.2
3.64
2.60
1994
 
118,431,847
0.748
158,324,996
504.0
5.17
2.65
1995
 
127,320,020
0.764
166,745,272
530.8
5.32
2.72
1996
 
137,553,527
0.780
176,393,643
561.5
5.79
2.77
1997
 
146,996,220
0.793
185,304,146
589.9
5.05
2.77
1998
 
163,152,824
0.799
204,104,313
649.7
10.15
2.85
1999
 
176,989,506
0.811
218,209,229
694.6
6.91
2.90
2000
 
190,767,801
0.831
229,478,535
730.5
5.16
2.89
2001
 
199,605,971
0.847
235,562,183
749.8
2.65
2.90
2002
 
203,362,889
0.859
236,818,195
753.8
0.53
2.90
2003
 
210,974,434
0.876
240,915,400
766.9
1.73
2.91
2004
 
224,043,214
0.897
249,761,116
795.0
3.67
2.91
2005
 
235,533,878
0.923
255,290,836
812.6
2.21
2.92
2006
 
248,870,390
0.947
262,718,270
836.3
2.91
2.91
2007
 
255,094,914
0.971
262,708,198
836.3
-0.00
2.88
2008
 
252,936,994
1.001
252,772,692
804.6
-3.78
2.78
2009
 
247,559,884
1.000
247,559,884
788.0
-2.06
2.83
2010
 
249,856,253
1.017
245,793,290
782.4
-0.71
2.78
2011
 
258,632,839
1.041
248,329,642
790.5
1.03
2.75
2012
 
265,395,833
1.061
250,087,950
796.1
0.71
2.70
2013
 
274,116,118
1.075
254,915,856
811.5
1.93
2.71
2014
 
289,384,713
1.092
265,108,709
843.9
4.00
2.74
2015
 
306,705,949
1.095
280,145,367
891.8
5.67
2.78
2016
 
321,746,556
1.108
290,413,810
924.4
3.67
2.85
2017
 
334,405,061
1.127
296,834,694
944.9
2.21
2.86
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
May 2018
REAP_PI_SA1400_1200_PN
 
   

Tip: 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, 1958-2017
 
1958
 
312,897,616
0.170
1,841,007,390
100.0
N
1959
 
334,545,932
0.173
1,939,284,285
105.3
5.34
1960
 
348,795,000
0.175
1,989,136,014
108.0
2.57
1961
 
360,578,000
0.177
2,034,979,401
110.5
2.30
1962
 
384,132,000
0.179
2,142,637,216
116.4
5.29
1963
 
403,399,000
0.181
2,224,177,097
120.8
3.81
1964
 
431,268,000
0.184
2,343,465,739
127.3
5.36
1965
 
464,681,000
0.187
2,489,051,369
135.2
6.21
1966
 
511,558,000
0.191
2,672,297,968
145.2
7.36
1967
 
544,621,000
0.196
2,775,138,854
150.7
3.85
1968
 
597,108,000
0.204
2,928,579,136
159.1
5.53
1969
 
655,222,000
0.213
3,074,283,301
167.0
4.98
1970
 
695,122,000
0.223
3,115,602,169
169.2
1.34
1971
 
744,129,000
0.233
3,199,316,394
173.8
2.69
1972
 
821,953,000
0.241
3,416,973,602
185.6
6.80
1973
 
921,321,000
0.254
3,634,115,652
197.4
6.35
1974
 
996,515,000
0.280
3,559,999,286
193.4
-2.04
1975
 
1,062,436,000
0.303
3,502,921,200
190.3
-1.60
1976
 
1,176,158,000
0.320
3,676,297,940
199.7
4.95
1977
 
1,306,927,000
0.341
3,835,329,851
208.3
4.33
1978
 
1,479,559,000
0.365
4,057,699,586
220.4
5.80
1979
 
1,652,190,000
0.397
4,162,107,013
226.1
2.57
1980
 
1,788,607,000
0.440
4,068,807,298
221.0
-2.24
1981
 
1,963,955,000
0.478
4,106,029,562
223.0
0.91
1982
 
2,055,057,000
0.505
4,071,032,092
221.1
-0.85
1983
 
2,189,442,000
0.527
4,158,247,393
225.9
2.14
1984
 
2,433,929,000
0.546
4,454,074,481
241.9
7.11
1985
 
2,617,433,000
0.566
4,625,911,067
251.3
3.86
1986
 
2,788,677,000
0.578
4,824,199,910
262.0
4.29
1987
 
2,997,904,000
0.597
5,025,823,973
273.0
4.18
1988
 
3,262,349,000
0.620
5,264,060,735
285.9
4.74
1989
 
3,470,801,000
0.646
5,369,349,175
291.7
2.00
1990
 
3,683,053,000
0.674
5,461,229,241
296.6
1.71
1991
 
3,792,707,000
0.697
5,445,223,396
295.8
-0.29
1992
 
4,064,120,000
0.715
5,684,560,942
308.8
4.40
1993
 
4,243,356,000
0.733
5,790,684,917
314.5
1.87
1994
 
4,463,755,000
0.748
5,967,347,566
324.1
3.05
1995
 
4,682,699,000
0.764
6,132,719,105
333.1
2.77
1996
 
4,964,951,000
0.780
6,366,872,700
345.8
3.82
1997
 
5,297,835,000
0.793
6,678,476,433
362.8
4.89
1998
 
5,717,821,000
0.799
7,152,998,649
388.5
7.11
1999
 
6,109,679,000
0.811
7,532,584,145
409.2
5.31
2000
 
6,611,246,000
0.831
7,952,804,610
432.0
5.58
2001
 
6,878,555,000
0.847
8,117,630,051
440.9
2.07
2002
 
7,008,956,000
0.859
8,162,002,026
443.3
0.55
2003
 
7,257,073,000
0.876
8,286,978,715
450.1
1.53
2004
 
7,695,924,000
0.897
8,579,338,484
466.0
3.53
2005
 
8,061,341,000
0.923
8,737,539,155
474.6
1.84
2006
 
8,542,791,000
0.947
9,018,137,001
489.8
3.21
2007
 
8,872,134,000
0.971
9,136,922,000
496.3
1.32
2008
 
9,094,454,000
1.001
9,088,546,445
493.7
-0.53
2009
 
8,743,722,000
1.000
8,743,722,000
474.9
-3.79
2010
 
8,975,826,000
1.017
8,829,868,277
479.6
0.99
2011
 
9,391,240,000
1.041
9,017,119,704
489.8
2.12
2012
 
9,840,233,000
1.061
9,272,653,857
503.7
2.83
2013
 
10,121,757,000
1.075
9,412,785,961
511.3
1.51
2014
 
10,565,119,000
1.092
9,678,828,660
525.7
2.83
2015
 
11,021,455,000
1.095
10,067,002,494
546.8
4.01
2016
 
11,304,772,000
1.108
10,203,875,836
554.3
1.36
2017
 
11,678,482,122
1.127
10,366,406,102
563.1
1.59
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
May 2018
REAP_PI_SA1400_1200_PN
 
   
Copyright © 2018. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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