United States Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2020
Introduction
United States vs. United States
U.S.:
2020 TPI = $19,607,447,000K
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 the United States. 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 2012 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.
United States Total Personal Income, 1959-2020
Current vs. Constant Dollars (Billions)
United States Total Personal Income, 1959-2020
Current vs. Constant Dollars (Billions)
Figure 1.
Figure 1 depicts the United States' annual total personal income over 1959-2020 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 the United States over time.
When measured in current dollars, the United States' total personal income increased 4,797.8%, from $400B in 1959 to $19,607B in 2020. When measured in constant 2012 dollars to adjust for inflation, it advanced 614.1%, from $2,470B in 1959 to $17,640B in 2020.
Real Total Personal Income Indices (1958=100): 1958-2020
Real Total Personal Income Indices (1958=100): 1958-2020
Figure 2.
Figure 2 shows the United States' real total personal income growth in a broader context by offering direct comparisons across time with . 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.
The United States' overall real total personal income growth was 648.9% over 1958-2020 .
United States Real Total Personal Income:
Annual Percent Change, 1959-2020
United States Real Total Personal Income:
Annual Percent Change, 1959-2020
Figure 3.
Figure 3 displays the short-run pattern of the United States' real total personal income growth by tracking the year-to-year percent change over 1959-2020. The average annual percent change for the entire 62-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, the United States' real total personal income grew at an annual rate of 3.32% over 1959-2020. The United States recorded its highest growth in 1965 (6.47%) and recorded its lowest growth in 2009 (-3.14%). In 2020, the United States' real total personal income grew by 5.30%
United States Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2020
United States Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2020
Figure 4.
Over the past six decades some countries have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 4 again shows the annual percent change in the United States' 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, and 2010-2020.
During the 1960s, the United States' annual real total personal income growth rate averaged 4.82%. It averaged 3.50% in the 1970s, 3.17% in the 1980s, 3.29% in the 1990s, 2.06% throughout the 2000s, and 2.71% thus far this decade (2010 to 2020).

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 Personal Income, 1958-2020
 
1958
 
376,151,280
0.160
2,355,509,299
100.0
N
1959
 
400,328,786
0.162
2,470,098,019
104.9
4.86
1960
 
417,700,000
0.165
2,535,664,421
107.6
2.65
1961
 
436,047,000
0.166
2,619,844,989
111.2
3.32
1962
 
464,000,000
0.168
2,755,508,047
117.0
5.18
1963
 
487,780,000
0.170
2,862,558,685
121.5
3.88
1964
 
522,633,000
0.173
3,023,271,823
128.3
5.61
1965
 
564,444,000
0.175
3,218,772,810
136.6
6.47
1966
 
612,713,000
0.180
3,407,937,038
144.7
5.88
1967
 
656,828,000
0.184
3,563,713,309
151.3
4.57
1968
 
720,877,000
0.192
3,763,977,653
159.8
5.62
1969
 
791,229,000
0.200
3,953,180,115
167.8
5.03
1970
 
855,525,000
0.210
4,083,456,637
173.4
3.30
1971
 
924,613,000
0.218
4,233,382,171
179.7
3.67
1972
 
1,016,408,000
0.226
4,500,168,246
191.0
6.30
1973
 
1,133,468,000
0.238
4,762,070,414
202.2
5.82
1974
 
1,244,912,000
0.263
4,737,108,067
201.1
-0.52
1975
 
1,362,505,000
0.285
4,785,756,937
203.2
1.03
1976
 
1,495,704,000
0.300
4,980,367,608
211.4
4.07
1977
 
1,651,632,000
0.320
5,163,609,079
219.2
3.68
1978
 
1,855,849,000
0.342
5,424,714,273
230.3
5.06
1979
 
2,073,257,000
0.373
5,565,641,191
236.3
2.60
1980
 
2,313,160,000
0.413
5,606,029,761
238.0
0.73
1981
 
2,592,915,000
0.450
5,767,416,255
244.8
2.88
1982
 
2,779,794,000
0.475
5,857,623,904
248.7
1.56
1983
 
2,968,676,000
0.495
6,000,477,018
254.7
2.44
1984
 
3,279,488,000
0.513
6,387,410,163
271.2
6.45
1985
 
3,510,471,000
0.531
6,606,826,138
280.5
3.44
1986
 
3,719,647,000
0.543
6,851,440,413
290.9
3.70
1987
 
3,946,593,000
0.560
7,052,020,942
299.4
2.93
1988
 
4,267,813,000
0.582
7,339,191,072
311.6
4.07
1989
 
4,609,667,000
0.607
7,595,430,878
322.5
3.49
1990
 
4,897,821,000
0.634
7,730,756,846
328.2
1.78
1991
 
5,067,291,000
0.655
7,739,512,471
328.6
0.11
1992
 
5,409,920,000
0.672
8,048,320,390
341.7
3.99
1993
 
5,648,732,000
0.689
8,199,401,963
348.1
1.88
1994
 
5,940,128,000
0.703
8,446,079,909
358.6
3.01
1995
 
6,286,143,000
0.718
8,753,732,715
371.6
3.64
1996
 
6,673,186,000
0.733
9,098,227,579
386.3
3.94
1997
 
7,086,935,000
0.746
9,496,984,844
403.2
4.38
1998
 
7,601,594,000
0.752
10,106,352,372
429.1
6.42
1999
 
8,006,585,000
0.763
10,488,334,774
445.3
3.78
2000
 
8,654,561,000
0.782
11,062,262,415
469.6
5.47
2001
 
9,009,842,000
0.797
11,299,307,733
479.7
2.14
2002
 
9,157,682,000
0.808
11,335,308,025
481.2
0.32
2003
 
9,491,393,000
0.824
11,524,554,992
489.3
1.67
2004
 
10,037,313,000
0.844
11,891,001,173
504.8
3.18
2005
 
10,599,603,000
0.868
12,209,836,198
518.4
2.68
2006
 
11,374,142,000
0.892
12,754,998,094
541.5
4.46
2007
 
12,014,107,000
0.914
13,139,074,564
557.8
3.01
2008
 
12,475,898,000
0.942
13,246,865,577
562.4
0.82
2009
 
12,073,407,000
0.941
12,831,218,781
544.7
-3.14
2010
 
12,586,509,000
0.957
13,151,359,908
558.3
2.50
2011
 
13,330,436,000
0.981
13,584,327,073
576.7
3.29
2012
 
14,003,346,000
1.000
14,003,346,000
594.5
3.08
2013
 
14,189,228,000
1.013
14,000,777,534
594.4
-0.02
2014
 
14,969,527,000
1.028
14,557,548,381
618.0
3.98
2015
 
15,681,233,000
1.030
15,218,144,852
646.1
4.54
2016
 
16,092,713,000
1.041
15,455,780,294
656.2
1.56
2017
 
16,845,028,000
1.060
15,893,934,934
674.8
2.83
2018
 
17,681,159,000
1.082
16,335,294,118
693.5
2.78
2019
 
18,402,004,000
1.099
16,751,785,600
711.2
2.55
2020
 
19,607,447,000
1.112
17,639,893,301
748.9
5.30
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 2021
REAP_PI_SA1400_300_PS
 
   
Copyright © 2021. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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