United States Regional Economic Analysis Project

Mississippi vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2023

Introduction

Mississippi:

2023 TPI = $141,427,688K

2023 Percent of U.S. = 0.62%

U.S.:

2023 TPI = $22,952,028,337K

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 Mississippi. 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.

Mississippi Total Personal Income, 1959-2023
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Mississippi'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 Mississippi over time.

When measured in current dollars, Mississippi's total personal income increased 5,087.34%, from $2,726M in 1959 to $141,428M in 2023. When measured in constant 2017 dollars to adjust for inflation, it advanced 558.87%, from $17,831M in 1959 to $117,484M in 2023.

Real Total Personal Income Indices (1958=100): 1958-2023

Figure 2.

Figure 2 portrays Mississippi'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.

Mississippi's overall real total personal income growth was 618.89% over 1958-2023 trailed the United States' increase of 663.66%.

Total Personal Income as a Percent of the United States Total: 1958-2023

Figure 3.

Another interesting and insightful way of contrasting the total personal income growth of Mississippi is to trace 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, Mississippi's total personal income comprised 0.65% of the United States' total personal income, while in 2023 it comprised 0.62% thereby yielding a -0.04% share-shift.

Total Personal Income Share-Shift

2023 vs. 1958

	Share- Shift*		2023	vs.	1958
Mississippi	-0.04%	=	0.62%	-	0.65%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

Mississippi Real Total Personal Income:
Annual Percent Change, 1959-2023

Figure 4.

Figure 4 displays the short-run pattern of Mississippi'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, Mississippi's real total personal income grew at an annual rate of 3.12% over 1959-2023. The state recorded its highest growth in 1972 (10.20%) and posted its lowest growth in 2022 (-6.79%). In 2023, Mississippi's real total personal income grew by 0.00%

Mississippi Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2023

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 Mississippi'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, Mississippi's annual real total personal income growth rate averaged 5.14%. It averaged 4.95% throughout the 1970s, 1.91% in the 1980s, 3.60% during the 1990s, 2.17% in the 2000s, 1.11% in the 2010s, 1.27% thus far this decade (2020-2023).

Real Total Personal Income Growth:
Average Annual Percent Change by Decade

Figure 6.

Figure 6 compares the decade average growth rates for Mississippi noted in the previous graph with the corresponding decade averages for the nation.

Relative to nationwide real total personal income growth trends, Mississippi exceeded the nation over the 1960s (5.14% vs. 4.82%), registered above the nation in the 1970s (4.95% vs. 3.50%), lagged the nation during the 1980s (1.91% vs. 3.16%), led the nation in the 1990s (3.60% vs. 3.27%), registered above the nation in the 2000s (2.17% vs. 2.06%), recorded underneath the nation over the 2010s (1.11% vs. 2.72%), and recorded underneath the nation over 2020-2023 (1.27% vs. 1.92%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1959-2023	1960-1969	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2023	2023
	%	%	%	%	%	%	%	%	%
Mississippi	3.12	5.14	4.95	1.91	3.60	2.17	1.11	1.27	0.00
United States	3.20	4.82	3.50	3.16	3.27	2.06	2.72	1.92	1.40

*Real total personal income growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

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

Mississippi:
Total Personal Income, 1958-2023


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1958	2,462,146	0.151	16,342,400	100.0	N	0.65
1959	2,726,403	0.153	17,831,282	109.1	9.11	0.68
1960	2,763,849	0.155	17,784,242	108.8	-0.26	0.66
1961	2,996,917	0.157	19,086,212	116.8	7.32	0.69
1962	3,132,456	0.159	19,718,343	120.7	3.31	0.68
1963	3,442,364	0.161	21,411,731	131.0	8.59	0.71
1964	3,563,335	0.163	21,848,887	133.7	2.04	0.68
1965	3,868,601	0.165	23,383,710	143.1	7.02	0.69
1966	4,217,350	0.170	24,863,518	152.1	6.33	0.69
1967	4,563,380	0.174	26,242,912	160.6	5.55	0.69
1968	4,993,314	0.181	27,634,700	169.1	5.30	0.69
1969	5,540,675	0.189	29,342,133	179.5	6.18	0.70
1970	6,077,002	0.198	30,744,723	188.1	4.78	0.71
1971	6,737,073	0.206	32,696,302	200.1	6.35	0.73
1972	7,677,404	0.213	36,030,618	220.5	10.20	0.76
1973	8,779,039	0.225	39,096,143	239.2	8.51	0.77
1974	9,648,091	0.248	38,914,577	238.1	-0.46	0.78
1975	10,462,842	0.269	38,953,246	238.4	0.10	0.77
1976	11,877,611	0.283	41,921,473	256.5	7.62	0.79
1977	13,222,207	0.302	43,816,964	268.1	4.52	0.80
1978	14,721,611	0.323	45,611,634	279.1	4.10	0.79
1979	16,636,703	0.351	47,340,019	289.7	3.79	0.80
1980	18,102,701	0.389	46,503,034	284.6	-1.77	0.78
1981	20,328,860	0.424	47,928,469	293.3	3.07	0.78
1982	21,461,818	0.448	47,936,874	293.3	0.02	0.77
1983	22,457,971	0.467	48,114,601	294.4	0.37	0.76
1984	24,513,876	0.484	50,607,725	309.7	5.18	0.75
1985	25,814,984	0.501	51,498,133	315.1	1.76	0.74
1986	26,776,347	0.512	52,278,153	319.9	1.51	0.72
1987	28,256,068	0.528	53,513,253	327.5	2.36	0.72
1988	30,286,055	0.549	55,201,048	337.8	3.15	0.71
1989	32,710,737	0.573	57,125,682	349.6	3.49	0.71
1990	34,436,460	0.598	57,610,138	352.5	0.85	0.70
1991	36,310,810	0.618	58,780,085	359.7	2.03	0.72
1992	39,042,558	0.634	61,561,902	376.7	4.73	0.72
1993	41,568,620	0.650	63,951,723	391.3	3.88	0.74
1994	44,969,477	0.664	67,770,024	414.7	5.97	0.76
1995	47,565,152	0.678	70,202,722	429.6	3.59	0.76
1996	50,455,345	0.692	72,909,187	446.1	3.86	0.76
1997	53,370,558	0.704	75,802,914	463.8	3.97	0.76
1998	56,581,064	0.710	79,728,696	487.9	5.18	0.75
1999	58,494,432	0.720	81,241,138	497.1	1.90	0.73
2000	61,604,859	0.738	83,450,542	510.6	2.72	0.71
2001	65,064,052	0.753	86,404,149	528.7	3.54	0.72
2002	66,326,193	0.763	86,938,424	532.0	0.62	0.73
2003	69,011,943	0.779	88,597,251	542.1	1.91	0.73
2004	73,054,919	0.798	91,516,553	560.0	3.30	0.73
2005	77,634,967	0.821	94,530,382	578.4	3.29	0.74
2006	80,835,682	0.844	95,731,504	585.8	1.27	0.72
2007	86,186,957	0.866	99,515,001	608.9	3.95	0.72
2008	90,602,512	0.892	101,606,495	621.7	2.10	0.73
2009	89,414,013	0.889	100,554,439	615.3	-1.04	0.74
2010	92,714,361	0.905	102,430,962	626.8	1.87	0.74
2011	96,643,444	0.928	104,137,154	637.2	1.67	0.73
2012	99,732,847	0.945	105,499,447	645.6	1.31	0.72
2013	101,472,085	0.958	105,941,768	648.3	0.42	0.72
2014	103,442,732	0.971	106,509,130	651.7	0.54	0.70
2015	104,772,168	0.973	107,680,622	658.9	1.10	0.68
2016	106,355,488	0.983	108,212,413	662.2	0.49	0.67
2017	109,132,813	1.000	109,132,813	667.8	0.85	0.66
2018	111,917,844	1.020	109,672,841	671.1	0.49	0.64
2019	116,256,330	1.035	112,310,850	687.2	2.41	0.63
2020	125,760,516	1.046	120,189,722	735.4	7.02	0.64
2021	137,381,666	1.090	126,037,069	771.2	4.87	0.64
2022	136,330,235	1.160	117,482,515	718.9	-6.79	0.62
2023	141,427,688	1.204	117,484,373	718.9	0.00	0.62

1 1958 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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

April 2024

REAP_PI_SA1400_300_PN

Interactive Table 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


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
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	18,343,601,000	1.035	17,721,060,157	709.8	3.25
2020	19,609,985,000	1.046	18,741,324,605	750.6	5.76
2021	21,392,812,000	1.090	19,626,252,970	786.1	4.72
2022	21,820,248,000	1.160	18,803,588,325	753.1	-4.19
2023	22,952,028,337	1.204	19,066,313,621	763.7	1.40

1 1958 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

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

April 2024

REAP_PI_SA1400_300_PN

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