Arizona vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2023
Introduction
Arizona vs. United States
Arizona:
2023 TPI = $458,153,844K
2023 Percent of U.S. = 2.00%
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 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, 1959-2023
Current vs. Constant Dollars (Millions)
Arizona Total Personal Income, 1959-2023
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Arizona'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 Arizona over time.
When measured in current dollars, Arizona's total personal income increased 17,397.81%, from $2,618M in 1959 to $458,154M in 2023. When measured in constant 2017 dollars to adjust for inflation, it advanced 2,122.47%, from $17,125M in 1959 to $380,590M in 2023.
Real Total Personal Income Indices (1958=100): 1958-2023
Real Total Personal Income Indices (1958=100): 1958-2023
Figure 2.
Figure 2 shows 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 2,317.15% over 1958-2023 outpaced the United States' increase of 663.66%.
Total Personal Income as a Percent of the United States Total: 1958-2023
Total Personal Income as a Percent of the United States Total: 1958-2023
Figure 3.
Another interesting and insightful way of comparing the total personal income growth of Arizona 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, Arizona's total personal income totaled 0.63% of the United States' total personal income, while in 2023 it totaled 2.00% thereby yielding a +1.37% share-shift.
   
 
Total Personal Income Share-Shift
2023 vs. 1958
 
Share-
Shift*
 
2023
vs.
1958
+1.37%
=
2.00%
-
0.63%
 
   
Arizona Real Total Personal Income:
Annual Percent Change, 1959-2023
Arizona Real Total Personal Income:
Annual Percent Change, 1959-2023
Figure 4.
Figure 4 displays the short-run pattern of Arizona'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, Arizona's real total personal income grew at an annual rate of 5.07% over 1959-2023. The state posted its highest growth in 1969 (11.35%) and posted its lowest growth in 2009 (-4.75%). In 2023, Arizona's real total personal income grew by 2.69%
Arizona Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2023
Arizona 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 Arizona'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, Arizona's annual real total personal income growth rate averaged 6.97%. It averaged 6.98% during the 1970s, 4.98% during the 1980s, 5.06% during the 1990s, 3.31% throughout the 2000s, 3.17% throughout the 2010s, 4.04% thus far this decade (2020-2023).
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
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 registered above the nation throughout the 1960s (6.97% vs. 4.82%), registered above the nation over the 1970s (6.98% vs. 3.50%), outgained the nation during the 1980s (4.98% vs. 3.16%), outgained the nation during the 1990s (5.06% vs. 3.27%), exceeded the nation throughout the 2000s (3.31% vs. 2.06%), outgained the nation over the 2010s (3.17% vs. 2.72%), and outgained the nation over 2020-2023 (4.04% vs. 1.92%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
5.07
6.97
6.98
4.98
5.06
3.31
3.17
4.04
2.69
 
3.20
4.82
3.50
3.16
3.27
2.06
2.72
1.92
1.40
 
   

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

   
 
Arizona:
Total Personal Income, 1958-2023
 
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
2023
 
458,153,844
1.204
380,589,669
2,417.1
2.69
2.00
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 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, 1958-2023
 
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
 
18,343,601,000
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
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
 
   
Copyright © 2024. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

Please stay tuned...
while your request is processing:

Please wait while your request is being processed...
To offer the most comprehensive set of interactive options in support of your research, US-REAP calculates and crunches most of the data and generates the narrative and graphic analysis on demand in response to your request.
Your request will soon be available.
Just a few more seconds....Your request has been generated and is now loading the results.