South Dakota vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2022
Introduction
South Dakota vs. United States
South Dakota:
2022 TPI = $62,028,338K
2022 Percent of U.S. = 0.28%
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 South Dakota. 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.
South Dakota Total Personal Income, 1959-2022
Current vs. Constant Dollars (Millions)
South Dakota Total Personal Income, 1959-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts South Dakota'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 South Dakota over time.
When measured in current dollars, South Dakota's total personal income increased 5,638.48%, from $1,081M in 1959 to $62,028M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 656.11%, from $7,069M in 1959 to $53,453M in 2022.
Real Total Personal Income Indices (1958=100): 1958-2022
Real Total Personal Income Indices (1958=100): 1958-2022
Figure 2.
Figure 2 shows South Dakota'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.
South Dakota's overall real total personal income growth was 577.87% over 1958-2022 trailed the United States' increase of 653.14%.
Total Personal Income as a Percent of the United States Total: 1958-2022
Total Personal Income as a Percent of the United States Total: 1958-2022
Figure 3.
Another interesting and insightful way of contrasting the total personal income growth of South Dakota 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, South Dakota's total personal income comprised 0.32% of the United States' total personal income, while in 2022 it totaled 0.28% thereby yielding a -0.03% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1958
 
Share-
Shift*
 
2022
vs.
1958
-0.03%
=
0.28%
-
0.32%
 
   
South Dakota Real Total Personal Income:
Annual Percent Change, 1959-2022
South Dakota Real Total Personal Income:
Annual Percent Change, 1959-2022
Figure 4.
Figure 4 highlights the short-run pattern of South Dakota'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 illustrated 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, South Dakota's real total personal income grew at an annual rate of 3.18% over 1959-2022. The state recorded its highest growth in 1960 (20.59%) and posted its lowest growth in 1959 (-10.35%). In 2022, South Dakota's real total personal income declined by -0.62%
South Dakota Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022
South Dakota 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 depicts the annual percent change in South Dakota'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 2020-2022.
During the 1960s, South Dakota's annual real total personal income growth rate averaged 4.77%. It averaged 4.20% in the 1970s, 1.39% during the 1980s, 3.73% in the 1990s, 3.17% during the 2000s, 2.65% throughout the 2010s, 4.91% thus far this decade (2020-2022).
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 South Dakota noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total personal income growth trends, South Dakota fell below the nation over the 1960s (4.77% vs. 4.82%), exceeded the nation during the 1970s (4.20% vs. 3.50%), fell below the nation over the 1980s (1.39% vs. 3.16%), exceeded the nation throughout the 1990s (3.73% vs. 3.27%), registered above the nation throughout the 2000s (3.17% vs. 2.06%), lagged the nation in the 2010s (2.65% vs. 2.72%), and registered above the nation over 2020-2022 (4.91% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
3.18
4.77
4.20
1.39
3.73
3.17
2.65
4.91
-0.62
 
3.23
4.82
3.50
3.16
3.27
2.06
2.72
2.10
-4.19
 
   

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

   
 
South Dakota:
Total Personal Income, 1958-2022
 
1958
 
1,188,025
0.151
7,885,471
100.0
N
0.32
1959
 
1,080,920
0.153
7,069,457
89.7
-10.35
0.27
1960
 
1,324,843
0.155
8,524,825
108.1
20.59
0.32
1961
 
1,333,008
0.157
8,489,415
107.7
-0.42
0.31
1962
 
1,518,891
0.159
9,561,192
121.3
12.62
0.33
1963
 
1,473,137
0.161
9,163,009
116.2
-4.16
0.30
1964
 
1,445,181
0.163
8,861,248
112.4
-3.29
0.28
1965
 
1,625,859
0.165
9,827,484
124.6
10.90
0.29
1966
 
1,757,965
0.170
10,364,137
131.4
5.46
0.29
1967
 
1,786,055
0.174
10,271,177
130.3
-0.90
0.27
1968
 
1,914,255
0.181
10,594,139
134.4
3.14
0.27
1969
 
2,076,428
0.189
10,996,282
139.4
3.80
0.26
1970
 
2,257,360
0.198
11,420,419
144.8
3.86
0.26
1971
 
2,473,054
0.206
12,002,203
152.2
5.09
0.27
1972
 
2,855,440
0.213
13,400,788
169.9
11.65
0.28
1973
 
3,605,287
0.225
16,055,609
203.6
19.81
0.32
1974
 
3,612,015
0.248
14,568,689
184.8
-9.26
0.29
1975
 
3,972,044
0.269
14,787,952
187.5
1.51
0.29
1976
 
3,932,814
0.283
13,880,683
176.0
-6.14
0.26
1977
 
4,462,560
0.302
14,788,441
187.5
6.54
0.27
1978
 
5,142,463
0.323
15,932,777
202.1
7.74
0.28
1979
 
5,665,386
0.351
16,120,952
204.4
1.18
0.27
1980
 
5,716,533
0.389
14,684,887
186.2
-8.91
0.25
1981
 
6,653,389
0.424
15,686,406
198.9
6.82
0.26
1982
 
7,011,777
0.448
15,661,426
198.6
-0.16
0.25
1983
 
7,277,146
0.467
15,590,766
197.7
-0.45
0.25
1984
 
8,268,309
0.484
17,069,529
216.5
9.48
0.25
1985
 
8,481,217
0.501
16,919,121
214.6
-0.88
0.24
1986
 
8,847,038
0.512
17,272,961
219.0
2.09
0.24
1987
 
9,303,519
0.528
17,619,634
223.4
2.01
0.24
1988
 
9,740,433
0.549
17,753,455
225.1
0.76
0.23
1989
 
10,481,322
0.573
18,304,469
232.1
3.10
0.23
1990
 
11,483,857
0.598
19,211,806
243.6
4.96
0.23
1991
 
11,981,980
0.618
19,396,477
246.0
0.96
0.24
1992
 
12,935,102
0.634
20,395,935
258.7
5.15
0.24
1993
 
13,520,170
0.650
20,800,262
263.8
1.98
0.24
1994
 
14,573,911
0.664
21,963,215
278.5
5.59
0.25
1995
 
14,864,750
0.678
21,939,295
278.2
-0.11
0.24
1996
 
16,415,457
0.692
23,720,730
300.8
8.12
0.25
1997
 
16,797,726
0.704
23,858,034
302.6
0.58
0.24
1998
 
18,102,888
0.710
25,508,882
323.5
6.92
0.24
1999
 
18,948,924
0.720
26,317,584
333.7
3.17
0.24
2000
 
20,201,161
0.738
27,364,689
347.0
3.98
0.23
2001
 
20,892,158
0.753
27,744,493
351.8
1.39
0.23
2002
 
20,898,499
0.763
27,393,138
347.4
-1.27
0.23
2003
 
22,822,717
0.779
29,299,711
371.6
6.96
0.24
2004
 
24,553,198
0.798
30,758,012
390.1
4.98
0.25
2005
 
26,005,396
0.821
31,664,856
401.6
2.95
0.25
2006
 
27,393,137
0.844
32,440,949
411.4
2.45
0.24
2007
 
30,342,539
0.866
35,034,742
444.3
8.00
0.25
2008
 
32,676,797
0.892
36,645,505
464.7
4.60
0.26
2009
 
31,827,060
0.889
35,792,512
453.9
-2.33
0.26
2010
 
33,682,881
0.905
37,212,896
471.9
3.97
0.27
2011
 
36,654,995
0.928
39,497,215
500.9
6.14
0.28
2012
 
37,469,645
0.945
39,636,157
502.6
0.35
0.27
2013
 
37,840,240
0.958
39,507,042
501.0
-0.33
0.27
2014
 
39,607,122
0.971
40,781,213
517.2
3.23
0.27
2015
 
41,160,093
0.973
42,302,689
536.5
3.73
0.27
2016
 
41,551,502
0.983
42,276,975
536.1
-0.06
0.26
2017
 
42,989,296
1.000
42,989,296
545.2
1.68
0.26
2018
 
45,143,987
1.020
44,238,426
561.0
2.91
0.26
2019
 
48,031,409
1.035
46,401,330
588.4
4.89
0.26
2020
 
52,793,346
1.046
50,454,768
639.8
8.74
0.27
2021
 
58,627,888
1.090
53,786,560
682.1
6.60
0.27
2022
 
62,028,338
1.160
53,452,891
677.9
-0.62
0.28
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 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, 1958-2022
 
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
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
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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