| Utah vs. United States
Comparative Trends Report:
Total Personal Income, 1958-2023 Introduction Utah: 2023 TPI = $219,331,628K 2023 Percent of U.S. = 0.94% U.S.: 2023 TPI = $23,380,269,000K The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing state patterns of economic growth and change. The following graphs highlight trends in the pattern of growth and change in the total personal income of Utah. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption. Data Definition: Personal Income is the income that is received by all 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 transfer receipts, less contributions for government social insurance. The personal income of an area is the income that is received by, or on behalf of, all the individuals who live in the area; therefore, the estimates of personal income are presented by the place of residence of the income recipients. Figure 1. Figure 1 depicts Utah's annual total personal income over 1959-2023 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 Utah over time. When measured in current dollars, Utah's total personal income increased 12,171.72%, from $1,787M in 1959 to $219,332M in 2023. When measured in constant 2017 dollars to adjust for inflation, it advanced 1,457.25%, from $11,689M in 1959 to $182,032M in 2023. Figure 2. Figure 2 portrays Utah's real total 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 total personal income in 1958 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1958 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size. Utah's overall real total personal income growth was 1,545.25% over 1958-2023 outpaced the United States' increase of 677.20%. Figure 3. Another interesting and insightful way of comparing the total personal income growth of Utah is to compare its individual percentage contributions to the United States' total total personal income over time, as shown in Figure 3. A rising share means a region's total personal income grew faster, or declined less, than the United States' total personal income, while a declining share shows it grew more slowly. In 1958, Utah's total personal income totaled 0.44% of the United States' total personal income, while in 2023 it comprised 0.94% thereby yielding a +0.49% share-shift. | | | | | | Total Personal Income Share-Shift 2023 vs. 1958 | Share-
Shift* | | 2023 | vs. | 1958 | | +0.49% | = | 0.94% | - | 0.44% |
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Figure 4. Figure 4 highlights the short-run pattern of Utah's real total personal income growth by tracking the year-to-year percent change over 1959-2023. The average annual percent change for the entire 65-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, Utah's real total personal income grew at an annual rate of 4.43% over 1959-2023. The state posted its highest growth in 2021 (9.81%) and recorded its lowest growth in 2009 (-3.48%). In 2023, Utah's real total personal income grew by 2.84% 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 Utah's real total personal income since 1959, but this time they are displayed with average growth rates for the decade of the 1960s, 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2023. During the 1960s, Utah's annual real total personal income growth rate averaged 4.45%. It averaged 5.66% throughout the 1970s, 2.97% in the 1980s, 5.35% throughout the 1990s, 3.35% during the 2000s, 4.46% in the 2010s, 4.97% thus far this decade (2020-2023). Figure 6. Figure 6 compares the decade average growth rates for Utah noted in the previous graph with the corresponding decade averages for the nation. Relative to nationwide real total personal income growth trends, Utah posted below the nation throughout the 1960s (4.45% vs. 4.82%), surpassed the nation in the 1970s (5.66% vs. 3.50%), trailed the nation in the 1980s (2.97% vs. 3.16%), exceeded the nation during the 1990s (5.35% vs. 3.27%), outgained the nation over the 2000s (3.35% vs. 2.06%), surpassed the nation over the 2010s (4.46% vs. 2.72%), and outperformed the nation over 2020-2023 (4.97% vs. 2.34%). | | | | | | Real* Total Personal Income Growth: Average Annual Percent Change | | | | | | | | | | | | | | | | | | | | | | | | 4.43 | 4.45 | 5.66 | 2.97 | 5.35 | 3.35 | 4.46 | 4.97 | 2.84 | | | 3.22 | 4.82 | 3.50 | 3.16 | 3.27 | 2.06 | 2.72 | 2.34 | 2.05 |
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 Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.
| | | | | | Utah:
Total Personal Income, 1958-2023 | | | | | | | | | 1958 | | 1,666,917 | 0.151 | 11,064,098 | 100.0 | N | 0.44 | 1959 | | 1,787,294 | 0.153 | 11,689,300 | 105.7 | 5.65 | 0.45 | 1960 | | 1,909,838 | 0.155 | 12,289,029 | 111.1 | 5.13 | 0.46 | 1961 | | 2,046,870 | 0.157 | 13,035,728 | 117.8 | 6.08 | 0.47 | 1962 | | 2,228,050 | 0.159 | 14,025,242 | 126.8 | 7.59 | 0.48 | 1963 | | 2,315,116 | 0.161 | 14,400,174 | 130.2 | 2.67 | 0.47 | 1964 | | 2,436,938 | 0.163 | 14,942,290 | 135.1 | 3.76 | 0.47 | 1965 | | 2,583,192 | 0.165 | 15,614,072 | 141.1 | 4.50 | 0.46 | 1966 | | 2,751,307 | 0.170 | 16,220,416 | 146.6 | 3.88 | 0.45 | 1967 | | 2,903,484 | 0.174 | 16,697,245 | 150.9 | 2.94 | 0.44 | 1968 | | 3,111,604 | 0.181 | 17,220,676 | 155.6 | 3.13 | 0.43 | 1969 | | 3,406,875 | 0.189 | 18,042,022 | 163.1 | 4.77 | 0.43 | 1970 | | 3,791,439 | 0.198 | 19,181,620 | 173.4 | 6.32 | 0.44 | 1971 | | 4,243,112 | 0.206 | 20,592,633 | 186.1 | 7.36 | 0.46 | 1972 | | 4,741,413 | 0.213 | 22,251,797 | 201.1 | 8.06 | 0.47 | 1973 | | 5,282,895 | 0.225 | 23,526,587 | 212.6 | 5.73 | 0.47 | 1974 | | 5,910,411 | 0.248 | 23,839,031 | 215.5 | 1.33 | 0.47 | 1975 | | 6,590,527 | 0.269 | 24,536,586 | 221.8 | 2.93 | 0.48 | 1976 | | 7,463,623 | 0.283 | 26,342,509 | 238.1 | 7.36 | 0.50 | 1977 | | 8,440,469 | 0.302 | 27,970,801 | 252.8 | 6.18 | 0.51 | 1978 | | 9,711,665 | 0.323 | 30,089,432 | 272.0 | 7.57 | 0.52 | 1979 | | 10,970,210 | 0.351 | 31,215,918 | 282.1 | 3.74 | 0.53 | 1980 | | 12,318,448 | 0.389 | 31,644,184 | 286.0 | 1.37 | 0.53 | 1981 | | 13,878,413 | 0.424 | 32,720,530 | 295.7 | 3.40 | 0.54 | 1982 | | 15,058,011 | 0.448 | 33,633,403 | 304.0 | 2.79 | 0.54 | 1983 | | 16,136,101 | 0.467 | 34,570,445 | 312.5 | 2.79 | 0.54 | 1984 | | 17,800,948 | 0.484 | 36,749,206 | 332.1 | 6.30 | 0.54 | 1985 | | 19,059,816 | 0.501 | 38,022,295 | 343.7 | 3.46 | 0.54 | 1986 | | 20,029,871 | 0.512 | 39,106,330 | 353.5 | 2.85 | 0.54 | 1987 | | 20,928,144 | 0.528 | 39,635,135 | 358.2 | 1.35 | 0.53 | 1988 | | 22,309,336 | 0.549 | 40,662,236 | 367.5 | 2.59 | 0.52 | 1989 | | 23,942,146 | 0.573 | 41,812,309 | 377.9 | 2.83 | 0.52 | 1990 | | 25,975,922 | 0.598 | 43,456,164 | 392.8 | 3.93 | 0.53 | 1991 | | 27,877,464 | 0.618 | 45,128,151 | 407.9 | 3.85 | 0.55 | 1992 | | 30,105,915 | 0.634 | 47,470,695 | 429.1 | 5.19 | 0.56 | 1993 | | 32,466,503 | 0.650 | 49,948,466 | 451.4 | 5.22 | 0.58 | 1994 | | 35,131,085 | 0.664 | 52,943,343 | 478.5 | 6.00 | 0.59 | 1995 | | 38,274,771 | 0.678 | 56,490,792 | 510.6 | 6.70 | 0.61 | 1996 | | 41,682,790 | 0.692 | 60,232,634 | 544.4 | 6.62 | 0.63 | 1997 | | 45,000,539 | 0.704 | 63,914,865 | 577.7 | 6.11 | 0.64 | 1998 | | 48,098,523 | 0.710 | 67,775,900 | 612.6 | 6.04 | 0.63 | 1999 | | 50,669,999 | 0.720 | 70,374,021 | 636.1 | 3.83 | 0.64 | 2000 | | 54,230,564 | 0.738 | 73,461,250 | 664.0 | 4.39 | 0.63 | 2001 | | 56,788,677 | 0.753 | 75,414,567 | 681.6 | 2.66 | 0.63 | 2002 | | 58,508,581 | 0.763 | 76,691,328 | 693.2 | 1.69 | 0.64 | 2003 | | 60,770,445 | 0.779 | 78,016,850 | 705.1 | 1.73 | 0.64 | 2004 | | 64,794,962 | 0.798 | 81,169,231 | 733.6 | 4.04 | 0.65 | 2005 | | 70,661,847 | 0.821 | 86,039,727 | 777.6 | 6.00 | 0.67 | 2006 | | 78,561,107 | 0.844 | 93,037,787 | 840.9 | 8.13 | 0.70 | 2007 | | 85,528,474 | 0.866 | 98,754,690 | 892.6 | 6.14 | 0.72 | 2008 | | 89,967,770 | 0.892 | 100,894,662 | 911.9 | 2.17 | 0.72 | 2009 | | 86,594,676 | 0.889 | 97,383,831 | 880.2 | -3.48 | 0.72 | 2010 | | 88,940,512 | 0.905 | 98,261,608 | 888.1 | 0.90 | 0.71 | 2011 | | 95,881,711 | 0.928 | 103,316,356 | 933.8 | 5.14 | 0.72 | 2012 | | 101,928,136 | 0.945 | 107,821,668 | 974.5 | 4.36 | 0.73 | 2013 | | 105,027,979 | 0.958 | 109,654,294 | 991.1 | 1.70 | 0.75 | 2014 | | 111,056,448 | 0.971 | 114,348,543 | 1,033.5 | 4.28 | 0.75 | 2015 | | 119,661,481 | 0.973 | 122,983,259 | 1,111.6 | 7.55 | 0.77 | 2016 | | 126,540,574 | 0.983 | 128,749,923 | 1,163.7 | 4.69 | 0.80 | 2017 | | 134,546,734 | 1.000 | 134,546,734 | 1,216.1 | 4.50 | 0.81 | 2018 | | 144,645,502 | 1.020 | 141,744,002 | 1,281.1 | 5.35 | 0.83 | 2019 | | 155,711,460 | 1.035 | 150,432,774 | 1,359.6 | 6.13 | 0.85 | 2020 | | 169,921,127 | 1.046 | 162,384,846 | 1,467.7 | 7.95 | 0.87 | 2021 | | 194,315,554 | 1.090 | 178,316,957 | 1,611.7 | 9.81 | 0.91 | 2022 | | 205,519,377 | 1.161 | 177,002,504 | 1,599.8 | -0.74 | 0.93 | 2023 | | 219,331,628 | 1.205 | 182,031,544 | 1,645.2 | 2.84 | 0.94 |
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 2024 REAP_PI_SA1400_300_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 Personal Income, 1958-2023 | | | | | | | | 1958 | | 376,151,280 | 0.151 | 2,496,689,765 | 100.0 | N | 1959 | | 400,328,786 | 0.153 | 2,618,239,281 | 104.9 | 4.87 | 1960 | | 417,700,000 | 0.155 | 2,687,729,232 | 107.7 | 2.65 | 1961 | | 436,047,000 | 0.157 | 2,777,015,667 | 111.2 | 3.32 | 1962 | | 464,000,000 | 0.159 | 2,920,810,777 | 117.0 | 5.18 | 1963 | | 487,780,000 | 0.161 | 3,034,023,761 | 121.5 | 3.88 | 1964 | | 522,633,000 | 0.163 | 3,204,568,030 | 128.4 | 5.62 | 1965 | | 564,444,000 | 0.165 | 3,411,774,662 | 136.7 | 6.47 | 1966 | | 612,713,000 | 0.170 | 3,612,268,600 | 144.7 | 5.88 | 1967 | | 656,828,000 | 0.174 | 3,777,261,487 | 151.3 | 4.57 | 1968 | | 720,877,000 | 0.181 | 3,989,578,837 | 159.8 | 5.62 | 1969 | | 791,229,000 | 0.189 | 4,190,165,758 | 167.8 | 5.03 | 1970 | | 855,525,000 | 0.198 | 4,328,265,709 | 173.4 | 3.30 | 1971 | | 924,613,000 | 0.206 | 4,487,323,465 | 179.7 | 3.67 | 1972 | | 1,016,408,000 | 0.213 | 4,770,076,966 | 191.1 | 6.30 | 1973 | | 1,133,468,000 | 0.225 | 5,047,731,018 | 202.2 | 5.82 | 1974 | | 1,244,912,000 | 0.248 | 5,021,223,733 | 201.1 | -0.53 | 1975 | | 1,362,505,000 | 0.269 | 5,072,617,275 | 203.2 | 1.02 | 1976 | | 1,495,704,000 | 0.283 | 5,279,017,400 | 211.4 | 4.07 | 1977 | | 1,651,632,000 | 0.302 | 5,473,329,799 | 219.2 | 3.68 | 1978 | | 1,855,849,000 | 0.323 | 5,749,934,936 | 230.3 | 5.05 | 1979 | | 2,073,296,000 | 0.351 | 5,899,598,782 | 236.3 | 2.60 | 1980 | | 2,313,972,000 | 0.389 | 5,944,235,512 | 238.1 | 0.76 | 1981 | | 2,590,995,000 | 0.424 | 6,108,676,176 | 244.7 | 2.77 | 1982 | | 2,777,640,000 | 0.448 | 6,204,105,336 | 248.5 | 1.56 | 1983 | | 2,969,333,000 | 0.467 | 6,361,584,112 | 254.8 | 2.54 | 1984 | | 3,275,415,000 | 0.484 | 6,761,937,695 | 270.8 | 6.29 | 1985 | | 3,508,482,000 | 0.501 | 6,999,046,441 | 280.3 | 3.51 | 1986 | | 3,717,756,000 | 0.512 | 7,258,548,586 | 290.7 | 3.71 | 1987 | | 3,931,800,000 | 0.528 | 7,446,308,852 | 298.2 | 2.59 | 1988 | | 4,264,433,000 | 0.549 | 7,772,592,728 | 311.3 | 4.38 | 1989 | | 4,605,107,000 | 0.573 | 8,042,309,775 | 322.1 | 3.47 | 1990 | | 4,897,332,000 | 0.598 | 8,192,943,538 | 328.2 | 1.87 | 1991 | | 5,072,291,000 | 0.618 | 8,211,045,100 | 328.9 | 0.22 | 1992 | | 5,406,546,000 | 0.634 | 8,524,985,809 | 341.5 | 3.82 | 1993 | | 5,643,648,000 | 0.650 | 8,682,535,385 | 347.8 | 1.85 | 1994 | | 5,933,938,000 | 0.664 | 8,942,579,420 | 358.2 | 3.00 | 1995 | | 6,278,125,000 | 0.678 | 9,266,058,093 | 371.1 | 3.62 | 1996 | | 6,660,854,000 | 0.692 | 9,625,094,288 | 385.5 | 3.87 | 1997 | | 7,068,422,000 | 0.704 | 10,039,373,926 | 402.1 | 4.30 | 1998 | | 7,584,003,000 | 0.710 | 10,686,661,406 | 428.0 | 6.45 | 1999 | | 7,978,449,000 | 0.720 | 11,081,025,264 | 443.8 | 3.69 | 2000 | | 8,620,234,000 | 0.738 | 11,677,052,911 | 467.7 | 5.38 | 2001 | | 8,990,104,000 | 0.753 | 11,938,732,039 | 478.2 | 2.24 | 2002 | | 9,146,700,000 | 0.763 | 11,989,225,466 | 480.2 | 0.42 | 2003 | | 9,474,684,000 | 0.779 | 12,163,560,736 | 487.2 | 1.45 | 2004 | | 10,008,929,000 | 0.798 | 12,538,275,270 | 502.2 | 3.08 | 2005 | | 10,540,800,000 | 0.821 | 12,834,755,927 | 514.1 | 2.36 | 2006 | | 11,291,446,000 | 0.844 | 13,372,153,008 | 535.6 | 4.19 | 2007 | | 11,925,044,000 | 0.866 | 13,769,145,681 | 551.5 | 2.97 | 2008 | | 12,423,410,000 | 0.892 | 13,932,275,429 | 558.0 | 1.18 | 2009 | | 12,058,253,000 | 0.889 | 13,560,635,845 | 543.1 | -2.67 | 2010 | | 12,547,501,000 | 0.905 | 13,862,497,514 | 555.2 | 2.23 | 2011 | | 13,299,818,000 | 0.928 | 14,331,082,712 | 574.0 | 3.38 | 2012 | | 13,905,749,000 | 0.945 | 14,709,785,897 | 589.2 | 2.64 | 2013 | | 14,063,283,000 | 0.958 | 14,682,748,144 | 588.1 | -0.18 | 2014 | | 14,778,160,000 | 0.971 | 15,216,235,418 | 609.5 | 3.63 | 2015 | | 15,467,113,000 | 0.973 | 15,896,476,839 | 636.7 | 4.47 | 2016 | | 15,884,741,000 | 0.983 | 16,162,082,333 | 647.3 | 1.67 | 2017 | | 16,658,962,000 | 1.000 | 16,658,962,000 | 667.2 | 3.07 | 2018 | | 17,514,402,000 | 1.020 | 17,163,073,878 | 687.4 | 3.03 | 2019 | | 18,349,584,000 | 1.035 | 17,727,525,143 | 710.0 | 3.29 | 2020 | | 19,600,945,000 | 1.046 | 18,731,610,936 | 750.3 | 5.66 | 2021 | | 21,403,979,000 | 1.090 | 19,641,723,562 | 786.7 | 4.86 | 2022 | | 22,077,232,000 | 1.161 | 19,013,902,214 | 761.6 | -3.20 | 2023 | | 23,380,269,000 | 1.205 | 19,404,162,137 | 777.2 | 2.05 |
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 2024 REAP_PI_SA1400_300_PN | | | | | |
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