United States Regional Economic Analysis Project

Arizona vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2022

Introduction

Arizona:

2022 TPI = $430,083,534K

2022 Percent of U.S. = 1.97%

U.S.:

2022 TPI = $21,820,248,000K

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 Arizona. 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.

Arizona Total Personal Income, 1959-2022
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Arizona's annual total personal income over 1959-2022 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 Arizona over time.

When measured in current dollars, Arizona's total personal income increased 16,325.75%, from $2,618M in 1959 to $430,084M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 2,064.28%, from $17,125M in 1959 to $370,624M in 2022.

Real Total Personal Income Indices (1958=100): 1958-2022

Figure 2.

Figure 2 portrays Arizona'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.

Arizona's overall real total personal income growth was 2,253.86% over 1958-2022 outpaced the United States' increase of 653.14%.

Total Personal Income as a Percent of the United States Total: 1958-2022

Figure 3.

Another interesting and insightful way of comparing the total personal income growth of Arizona 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, Arizona's total personal income totaled 0.63% of the United States' total personal income, while in 2022 it equated to 1.97% thereby yielding a +1.34% share-shift.

Total Personal Income Share-Shift

2022 vs. 1958

	Share- Shift*		2022	vs.	1958
Arizona	+1.34%	=	1.97%	-	0.63%

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

Arizona Real Total Personal Income:
Annual Percent Change, 1959-2022

Figure 4.

Figure 4 shows the short-run pattern of Arizona's real total personal income growth by tracking the year-to-year percent change over 1959-2022. The average annual percent change for the entire 64-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, Arizona's real total personal income grew at an annual rate of 5.11% over 1959-2022. The state posted its highest growth in 1969 (11.35%) and posted its lowest growth in 2009 (-4.75%). In 2022, Arizona's real total personal income declined by -1.44%

Arizona Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022

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 Arizona's 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 2020-2022.

During the 1960s, Arizona's annual real total personal income growth rate averaged 6.97%. It averaged 6.98% in the 1970s, 4.98% in the 1980s, 5.06% in the 1990s, 3.31% in the 2000s, 3.17% in the 2010s, 4.50% thus far this decade (2020-2022).

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

Figure 6.

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

Relative to nationwide real total personal income growth trends, Arizona outpaced the nation over the 1960s (6.97% vs. 4.82%), outpaced the nation over the 1970s (6.98% vs. 3.50%), surpassed the nation during the 1980s (4.98% vs. 3.16%), outgained the nation over the 1990s (5.06% vs. 3.27%), led the nation during the 2000s (3.31% vs. 2.06%), led the nation during the 2010s (3.17% vs. 2.72%), and recorded above the nation over 2020-2022 (4.50% vs. 2.10%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1959-2022	1960-1969	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2022	2022
	%	%	%	%	%	%	%	%	%
Arizona	5.11	6.97	6.98	4.98	5.06	3.31	3.17	4.50	-1.44
United States	3.23	4.82	3.50	3.16	3.27	2.06	2.72	2.10	-4.19

*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.

Arizona:
Total Personal Income, 1958-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1958	2,372,202	0.151	15,745,400	100.0	N	0.63
1959	2,618,350	0.153	17,124,591	108.8	8.76	0.65
1960	2,855,803	0.155	18,375,928	116.7	7.31	0.68
1961	3,109,852	0.157	19,805,452	125.8	7.78	0.71
1962	3,349,780	0.159	21,086,365	133.9	6.47	0.72
1963	3,521,554	0.161	21,904,298	139.1	3.88	0.72
1964	3,777,103	0.163	23,159,624	147.1	5.73	0.72
1965	4,003,816	0.165	24,201,015	153.7	4.50	0.71
1966	4,359,710	0.170	25,702,806	163.2	6.21	0.71
1967	4,739,343	0.174	27,254,834	173.1	6.04	0.72
1968	5,437,349	0.181	30,092,141	191.1	10.41	0.75
1969	6,327,071	0.189	33,506,704	212.8	11.35	0.80
1970	7,216,133	0.198	36,507,806	231.9	8.96	0.84
1971	8,255,566	0.206	40,065,838	254.5	9.75	0.89
1972	9,464,649	0.213	44,418,289	282.1	10.86	0.93
1973	10,934,211	0.225	48,693,881	309.3	9.63	0.96
1974	12,336,094	0.248	49,756,359	316.0	2.18	0.99
1975	13,317,758	0.269	49,582,122	314.9	-0.35	0.98
1976	14,813,181	0.283	52,282,430	332.0	5.45	0.99
1977	16,646,785	0.302	55,165,645	350.4	5.51	1.01
1978	19,559,610	0.323	60,601,097	384.9	9.85	1.05
1979	22,987,021	0.351	65,409,956	415.4	7.94	1.11
1980	26,489,939	0.389	68,048,549	432.2	4.03	1.14
1981	30,223,309	0.424	71,256,181	452.6	4.71	1.17
1982	32,161,434	0.448	71,835,416	456.2	0.81	1.16
1983	35,454,856	0.467	75,959,500	482.4	5.74	1.19
1984	39,988,822	0.484	82,555,011	524.3	8.68	1.22
1985	44,529,113	0.501	88,830,819	564.2	7.60	1.27
1986	48,697,699	0.512	95,077,411	603.8	7.03	1.31
1987	52,270,181	0.528	98,992,805	628.7	4.12	1.33
1988	56,652,853	0.549	103,258,640	655.8	4.31	1.33
1989	60,776,818	0.573	106,139,987	674.1	2.79	1.32
1990	63,797,722	0.598	106,729,773	677.8	0.56	1.30
1991	67,229,566	0.618	108,831,492	691.2	1.97	1.33
1992	71,607,986	0.634	112,910,732	717.1	3.75	1.32
1993	76,933,245	0.650	118,358,838	751.7	4.83	1.36
1994	84,205,588	0.664	126,899,735	805.9	7.22	1.42
1995	91,807,305	0.678	135,500,937	860.6	6.78	1.46
1996	99,449,957	0.692	143,707,581	912.7	6.06	1.49
1997	107,797,478	0.704	153,106,194	972.4	6.54	1.53
1998	117,834,952	0.710	166,041,896	1,054.5	8.45	1.55
1999	124,922,252	0.720	173,500,718	1,101.9	4.49	1.57
2000	135,573,750	0.738	183,649,522	1,166.4	5.85	1.57
2001	142,097,788	0.753	188,703,870	1,198.5	2.75	1.58
2002	147,455,199	0.763	193,279,940	1,227.5	2.43	1.61
2003	156,408,807	0.779	200,796,990	1,275.3	3.89	1.65
2004	170,442,982	0.798	213,515,455	1,356.0	6.33	1.70
2005	187,724,914	0.821	228,578,804	1,451.7	7.05	1.78
2006	207,762,641	0.844	246,047,656	1,562.7	7.64	1.84
2007	219,579,070	0.866	253,535,014	1,610.2	3.04	1.84
2008	223,495,122	0.892	250,639,365	1,591.8	-1.14	1.80
2009	212,283,565	0.889	238,732,768	1,516.2	-4.75	1.76
2010	216,223,640	0.905	238,884,195	1,517.2	0.06	1.72
2011	227,203,294	0.928	244,820,583	1,554.9	2.49	1.71
2012	236,431,415	0.945	250,101,990	1,588.4	2.16	1.70
2013	242,030,312	0.958	252,691,361	1,604.9	1.04	1.72
2014	253,711,620	0.971	261,232,504	1,659.1	3.38	1.72
2015	267,474,059	0.973	274,899,083	1,745.9	5.23	1.73
2016	279,696,749	0.983	284,580,144	1,807.4	3.52	1.76
2017	297,261,506	1.000	297,261,506	1,887.9	4.46	1.78
2018	315,458,961	1.020	309,131,048	1,963.3	3.99	1.80
2019	337,214,074	1.035	325,769,782	2,069.0	5.38	1.84
2020	374,311,796	1.046	357,730,966	2,272.0	9.81	1.91
2021	409,885,700	1.090	376,038,477	2,388.2	5.12	1.92
2022	430,083,534	1.160	370,624,281	2,353.9	-1.44	1.97

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

November 2023

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, 1958-2022


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

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

November 2023

REAP_PI_SA1400_300_PN

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