United States Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2021
Introduction
United States vs. United States
U.S.:
2021 TPI = $21,056,621,907K
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, 1959-2021
Current vs. Constant Dollars (Billions)
United States Total Personal Income, 1959-2021
Current vs. Constant Dollars (Billions)
Figure 1.
Figure 1 depicts the United States' annual total personal income 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 the United States over time.
When measured in current dollars, the United States' total personal income increased 5,159.8%, from $400B in 1959 to $21,057B in 2021. When measured in constant 2012 dollars to adjust for inflation, it advanced 636.5%, from $2,475B in 1959 to $18,226B in 2021.
Real Total Personal Income Indices (1958=100): 1958-2021
Real Total Personal Income Indices (1958=100): 1958-2021
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 672.3% over 1958-2021 .
United States Real Total Personal Income:
Annual Percent Change, 1959-2021
United States Real Total Personal Income:
Annual Percent Change, 1959-2021
Figure 3.
Figure 3 highlights the short-run pattern of the United States' real total personal income 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, the United States' real total personal income grew at an annual rate of 3.31% over 1959-2021. The United States recorded its highest growth in 1965 (6.47%) and posted its lowest growth in 2009 (-2.96%). In 2021, the United States' real total personal income grew by 3.39%
United States Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2021
United States Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2021
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 depicts the annual percent change in the United States' real total personal income since 1959, but this time they are overlayed with average growth rates for the decade of the 1960s, 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2021.
During the 1960s, the United States' annual real total personal income growth rate averaged 4.82%. It averaged 3.50% during the 1970s, 3.17% during the 1980s, 3.30% throughout the 1990s, 2.04% throughout the 2000s, 2.70% throughout the 2010s, 4.35% thus far this decade (2020-2021).

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, 1958-2021
 
1958
 
376,151,280
0.159
2,360,090,852
100.0
N
1959
 
400,328,786
0.162
2,474,831,763
104.9
4.86
1960
 
417,700,000
0.164
2,540,599,720
107.6
2.66
1961
 
436,047,000
0.166
2,624,891,645
111.2
3.32
1962
 
464,000,000
0.168
2,760,918,720
117.0
5.18
1963
 
487,780,000
0.170
2,868,113,130
121.5
3.88
1964
 
522,633,000
0.173
3,029,054,132
128.3
5.61
1965
 
564,444,000
0.175
3,225,025,711
136.6
6.47
1966
 
612,713,000
0.179
3,414,584,262
144.7
5.88
1967
 
656,828,000
0.184
3,570,687,687
151.3
4.57
1968
 
720,877,000
0.191
3,771,263,406
159.8
5.62
1969
 
791,229,000
0.200
3,960,898,078
167.8
5.03
1970
 
855,525,000
0.209
4,091,463,415
173.4
3.30
1971
 
924,613,000
0.218
4,241,733,187
179.7
3.67
1972
 
1,016,408,000
0.225
4,508,952,178
191.0
6.30
1973
 
1,133,468,000
0.238
4,771,291,463
202.2
5.82
1974
 
1,244,912,000
0.262
4,746,318,960
201.1
-0.52
1975
 
1,362,505,000
0.284
4,795,020,236
203.2
1.03
1976
 
1,495,704,000
0.300
4,990,004,671
211.4
4.07
1977
 
1,651,632,000
0.319
5,173,799,455
219.2
3.68
1978
 
1,855,849,000
0.341
5,435,199,883
230.3
5.05
1979
 
2,073,257,000
0.372
5,576,569,477
236.3
2.60
1980
 
2,313,160,000
0.412
5,616,920,014
238.0
0.72
1981
 
2,592,915,000
0.449
5,778,598,650
244.8
2.88
1982
 
2,779,794,000
0.474
5,869,125,689
248.7
1.57
1983
 
2,968,676,000
0.494
6,012,143,060
254.7
2.44
1984
 
3,279,488,000
0.512
6,399,875,105
271.2
6.45
1985
 
3,510,471,000
0.530
6,619,658,313
280.5
3.43
1986
 
3,719,647,000
0.542
6,864,843,865
290.9
3.70
1987
 
3,946,593,000
0.559
7,065,782,831
299.4
2.93
1988
 
4,267,813,000
0.580
7,353,480,478
311.6
4.07
1989
 
4,609,667,000
0.606
7,610,227,498
322.5
3.49
1990
 
4,897,821,000
0.632
7,745,917,351
328.2
1.78
1991
 
5,067,291,000
0.653
7,754,672,890
328.6
0.11
1992
 
5,409,920,000
0.671
8,064,036,251
341.7
3.99
1993
 
5,648,732,000
0.688
8,215,381,483
348.1
1.88
1994
 
5,940,128,000
0.702
8,462,564,643
358.6
3.01
1995
 
6,286,143,000
0.717
8,770,831,996
371.6
3.64
1996
 
6,673,186,000
0.732
9,115,876,182
386.3
3.93
1997
 
7,086,935,000
0.745
9,515,474,368
403.2
4.38
1998
 
7,601,594,000
0.751
10,126,007,726
429.1
6.42
1999
 
8,006,585,000
0.762
10,512,295,835
445.4
3.81
2000
 
8,654,561,000
0.781
11,082,803,176
469.6
5.43
2001
 
9,009,842,000
0.797
11,310,939,540
479.3
2.06
2002
 
9,157,682,000
0.807
11,347,527,942
480.8
0.32
2003
 
9,491,393,000
0.824
11,518,960,412
488.1
1.51
2004
 
10,037,313,000
0.844
11,886,495,032
503.6
3.19
2005
 
10,599,603,000
0.869
12,200,841,429
517.0
2.64
2006
 
11,374,142,000
0.893
12,733,863,998
539.5
4.37
2007
 
12,014,107,000
0.916
13,113,833,039
555.6
2.98
2008
 
12,475,898,000
0.943
13,226,501,988
560.4
0.86
2009
 
12,073,407,000
0.941
12,835,583,977
543.9
-2.96
2010
 
12,586,509,000
0.957
13,145,590,985
557.0
2.42
2011
 
13,330,436,000
0.982
13,578,930,427
575.4
3.30
2012
 
14,003,346,000
1.000
14,003,346,000
593.3
3.13
2013
 
14,189,228,000
1.014
13,999,672,435
593.2
-0.03
2014
 
14,969,527,000
1.029
14,549,483,414
616.5
3.93
2015
 
15,681,233,000
1.031
15,207,371,310
644.4
4.52
2016
 
16,092,713,000
1.041
15,451,773,438
654.7
1.61
2017
 
16,845,028,000
1.061
15,883,893,598
673.0
2.80
2018
 
17,681,159,000
1.083
16,323,380,232
691.6
2.77
2019
 
18,402,004,000
1.099
16,740,965,412
709.3
2.56
2020
 
19,607,447,000
1.112
17,628,632,951
746.9
5.30
2021
 
21,056,621,907
1.155
18,226,265,186
772.3
3.39
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_300_PS
 
   
Copyright © 2022. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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