Rhode Island vs. United States
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1958-2021
Introduction
Rhode Island vs. United States
Rhode Island:
2021 Earnings = $42,956,977K
2021 Percent of U.S. = 0.3%
U.S.:
2021 Earnings = $14,284,574,000K
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.
Rhode Island Total Industry Earnings, 1959-2021
Current vs. Constant Dollars (Millions)
Rhode Island Total Industry Earnings, 1959-2021
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Rhode Island'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 Rhode Island over time.
When measured in current dollars, Rhode Island's total industry earnings increased 2,602.8%, from $1,589M in 1959 to $42,957M in 2021. When measured in constant 2012 dollars to adjust for inflation, it advanced 278.1%, from $9,826M in 1959 to $37,153M in 2021.
Real Total Industry Earnings Indices (1958=100): 1958-2021
Real Total Industry Earnings Indices (1958=100): 1958-2021
Figure 2.
Figure 2 shows Rhode Island'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.
Rhode Island's overall real total industry earnings growth was 296.3% over 1958-2021 trailed the United States' increase of 530.2%.
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 highlighting the total industry earnings growth of Rhode Island 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, Rhode Island's total industry earnings totaled 0.48% of the United States' total industry earnings, while in 2021 it totaled 0.30% thereby yielding a -0.18% share-shift.
   
 
Total Industry Earnings Share-Shift
2021 vs. 1958
 
Share-
Shift*
 
2021
vs.
1958
-0.18%
=
0.30%
-
0.48%
 
   
Rhode Island Real Total Industry Earnings:
Annual Percent Change, 1959-2021
Rhode Island Real Total Industry Earnings:
Annual Percent Change, 1959-2021
Figure 4.
Figure 4 highlights the short-run pattern of Rhode Island'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 traced 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, Rhode Island's real total industry earnings grew at an annual rate of 2.26% over 1959-2021. The state posted its highest growth in 1966 (7.75%) and posted its lowest growth in 1974 (-7.80%). In 2021, Rhode Island's real total industry earnings grew by 3.02%
Rhode Island Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1959-2021
Rhode Island Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1959-2021
Figure 5.
Over the past nine 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 Rhode Island'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, Rhode Island's annual real total industry earnings growth rate averaged 4.21%. It averaged 1.41% in the 1970s, 3.07% in the 1980s, 1.81% throughout the 1990s, 1.25% during the 2000s, 1.73% in the 2010s, 1.31% thus far this decade (2020-2021).
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 Rhode Island noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total industry earnings growth trends, Rhode Island posted below the nation during the 1960s (4.21% vs. 4.72%), recorded underneath the nation during the 1970s (1.41% vs. 3.13%), surpassed the nation throughout the 1980s (3.07% vs. 2.62%), fell below the nation in the 1990s (1.81% vs. 3.43%), lagged the nation during the 2000s (1.25% vs. 1.47%), fell under the nation throughout the 2010s (1.73% vs. 2.53%), and fell below the nation over 2020-2021 (1.31% vs. 2.08%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.26
4.21
1.41
3.07
1.81
1.25
1.73
1.31
3.02
 
2.99
4.72
3.13
2.62
3.43
1.47
2.53
2.08
3.91
 
   

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

   
 
Rhode Island:
Total Industry Earnings, 1958-2021
 
1958
 
1,494,070
0.159
9,374,263
100.0
N
0.48
1959
 
1,589,374
0.162
9,825,507
104.8
4.81
0.48
1960
 
1,622,438
0.164
9,868,244
105.3
0.43
0.47
1961
 
1,675,700
0.166
10,087,286
107.6
2.22
0.47
1962
 
1,795,746
0.168
10,685,148
114.0
5.93
0.47
1963
 
1,852,168
0.170
10,890,622
116.2
1.92
0.46
1964
 
1,976,889
0.173
11,457,569
122.2
5.21
0.46
1965
 
2,130,390
0.175
12,172,266
129.8
6.24
0.46
1966
 
2,353,374
0.179
13,115,103
139.9
7.75
0.46
1967
 
2,522,545
0.184
13,713,210
146.3
4.56
0.46
1968
 
2,756,517
0.191
14,420,701
153.8
5.16
0.46
1969
 
2,957,038
0.200
14,802,954
157.9
2.65
0.45
1970
 
3,173,667
0.209
15,177,747
161.9
2.53
0.46
1971
 
3,331,486
0.218
15,283,448
163.0
0.70
0.45
1972
 
3,663,811
0.225
16,253,265
173.4
6.35
0.45
1973
 
3,894,613
0.238
16,394,229
174.9
0.87
0.42
1974
 
3,964,775
0.262
15,115,998
161.2
-7.80
0.40
1975
 
4,124,310
0.284
14,514,552
154.8
-3.98
0.39
1976
 
4,615,049
0.300
15,396,841
164.2
6.08
0.39
1977
 
5,074,089
0.319
15,894,775
169.6
3.23
0.39
1978
 
5,636,785
0.341
16,508,376
176.1
3.86
0.38
1979
 
6,276,019
0.372
16,881,002
180.1
2.26
0.38
1980
 
6,831,269
0.412
16,587,997
177.0
-1.74
0.38
1981
 
7,358,972
0.449
16,400,285
175.0
-1.13
0.38
1982
 
7,728,397
0.474
16,317,372
174.1
-0.51
0.38
1983
 
8,375,682
0.494
16,962,376
180.9
3.95
0.38
1984
 
9,255,667
0.512
18,062,305
192.7
6.48
0.38
1985
 
10,053,903
0.530
18,958,539
202.2
4.96
0.38
1986
 
10,916,583
0.542
20,147,245
214.9
6.27
0.39
1987
 
11,829,095
0.559
21,178,220
225.9
5.12
0.39
1988
 
13,038,796
0.580
22,465,964
239.7
6.08
0.40
1989
 
13,766,018
0.606
22,726,702
242.4
1.16
0.40
1990
 
14,106,505
0.632
22,309,476
238.0
-1.84
0.38
1991
 
13,856,842
0.653
21,205,665
226.2
-4.95
0.37
1992
 
14,713,014
0.671
21,931,245
234.0
3.42
0.36
1993
 
15,244,098
0.688
22,170,654
236.5
1.09
0.36
1994
 
15,771,752
0.702
22,469,124
239.7
1.35
0.35
1995
 
16,491,633
0.717
23,010,190
245.5
2.41
0.35
1996
 
16,981,462
0.732
23,197,451
247.5
0.81
0.34
1997
 
17,899,302
0.745
24,033,006
256.4
3.60
0.34
1998
 
19,369,472
0.751
25,801,881
275.2
7.36
0.34
1999
 
20,607,633
0.762
27,056,921
288.6
4.86
0.34
2000
 
22,240,977
0.781
28,481,210
303.8
5.26
0.34
2001
 
23,244,151
0.797
29,180,666
311.3
2.46
0.34
2002
 
24,486,310
0.807
30,341,640
323.7
3.98
0.35
2003
 
25,913,937
0.824
31,449,716
335.5
3.65
0.36
2004
 
27,217,915
0.844
32,232,293
343.8
2.49
0.35
2005
 
28,009,003
0.869
32,240,208
343.9
0.02
0.35
2006
 
29,368,837
0.893
32,879,735
350.7
1.98
0.34
2007
 
29,871,294
0.916
32,605,600
347.8
-0.83
0.34
2008
 
29,746,723
0.943
31,536,415
336.4
-3.28
0.33
2009
 
28,713,396
0.941
30,526,032
325.6
-3.20
0.33
2010
 
30,603,741
0.957
31,963,133
341.0
4.71
0.34
2011
 
31,192,739
0.982
31,774,207
339.0
-0.59
0.33
2012
 
32,495,205
1.000
32,495,205
346.6
2.27
0.33
2013
 
33,183,064
1.014
32,739,768
349.3
0.75
0.32
2014
 
34,447,320
1.029
33,480,731
357.2
2.26
0.32
2015
 
35,620,333
1.031
34,543,944
368.5
3.18
0.32
2016
 
36,157,168
1.041
34,717,103
370.3
0.50
0.32
2017
 
37,317,105
1.061
35,186,891
375.4
1.35
0.31
2018
 
38,530,347
1.083
35,571,837
379.5
1.09
0.31
2019
 
39,807,276
1.099
36,210,488
386.3
1.80
0.31
2020
 
40,083,677
1.111
36,064,310
384.7
-0.40
0.30
2021
 
42,956,977
1.156
37,153,265
396.3
3.02
0.30
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
September 2022
REAP_PI_SA1400_1200_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:
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
 
11,925,461,000
1.061
11,244,706,470
573.6
2.87
2018
 
12,513,572,000
1.083
11,552,731,335
589.3
2.74
2019
 
13,038,063,000
1.099
11,860,008,369
605.0
2.66
2020
 
13,215,075,000
1.111
11,889,941,068
606.5
0.25
2021
 
14,284,574,000
1.156
12,354,653,566
630.2
3.91
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
September 2022
REAP_PI_SA1400_1200_PN
 
   
Copyright © 2022. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

Please stay tuned...
while your request is processing:

Please wait while your request is being processed...
To offer the most comprehensive set of interactive options in support of your research, US-REAP calculates and crunches most of the data and generates the narrative and graphic analysis on demand in response to your request.
Your request will soon be available.
Just a few more seconds....Your request has been generated and is now loading the results.