Tennessee vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2019
Introduction
Tennessee:
2019 TPI = $332,999,320K
2019 Percent of U.S. = 1.8%
U.S.:
2019 TPI = $18,599,062,366K
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 Tennessee. 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.
Tennessee Total Personal Income, 1958-2019
Current vs. Constant Dollars (Millions)
Tennessee Total Personal Income, 1958-2019
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Tennessee's annual total personal income over 1958-2019 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 Tennessee over time.
When measured in current dollars, Tennessee's total personal income increased 6,078.6%, from $5,390M in 1958 to $332,999M in 2019. When measured in constant 2012 dollars to adjust for inflation, it advanced 799.8%, from $33,750M in 1958 to $303,682M in 2019.
Real Total Personal Income Indices (1958=100): 1958-2019
Real Total Personal Income Indices (1958=100): 1958-2019
Figure 2.
Figure 2 portrays Tennessee'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.
Tennessee's overall real total personal income growth was 799.8% over 1958-2019 outpaced the United States' increase of 620.1%.
Total Personal Income as a Percent of the United States Total: 1958-2019
Total Personal Income as a Percent of the United States Total: 1958-2019
Figure 3.
Another interesting and insightful way of highlighting the total personal income growth of Tennessee 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, Tennessee's total personal income comprised 1.4% of the United States' total personal income, while in 2019 it comprised 1.8% thereby yielding a +0.4% share-shift.
   
 
Total Personal Income Share-Shift
2019 vs. 1958
 
Share-
Shift*
 
2019
vs.
1958
+0.36%
=
1.79%
-
1.43%
 
   
Tennessee Real Total Personal Income:
Annual Percent Change, 1959-2019
Tennessee Real Total Personal Income:
Annual Percent Change, 1959-2019
Figure 4.
Figure 4 highlights the short-run pattern of Tennessee's real total personal income growth by tracking the year-to-year percent change over 1959-2019. The average annual percent change for the entire 61-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, Tennessee's real total personal income grew at an annual rate of 3.69% over 1959-2019. The state recorded its highest growth in 1972 (8.85%) and posted its lowest growth in 2009 (-0.62%). In 2019, Tennessee's real total personal income grew by 3.43%
Tennessee Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2019
Tennessee Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2019
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 traces the annual percent change in Tennessee'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, and 2010-2019.
During the 1960s, Tennessee's annual real total personal income growth rate averaged 5.19%. It averaged 4.66% throughout the 1970s, 3.20% in the 1980s, 4.19% during the 1990s, 1.88% during the 2000s, and 2.84% thus far this decade (2010 to 2019).
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 Tennessee noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total personal income growth trends, Tennessee led the nation during the 1960s (5.19% vs. 4.82%), topped the nation in the 1970s (4.66% vs. 3.50%), exceeded the nation during the 1980s (3.20% vs. 3.17%), outpaced the nation throughout the 1990s (4.19% vs. 3.29%), recorded underneath the nation throughout the 2000s (1.88% vs. 2.05%), and posted below the nation over 2010-2019 (2.84% vs. 2.86%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
3.69
5.19
4.66
3.20
4.19
1.88
2.84
3.43
 
3.31
4.82
3.50
3.17
3.29
2.05
2.86
2.97
 
   

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

   
 
Tennessee:
Total Personal Income, 1958-2019
 
1958
 
5,389,556
0.160
33,750,116
100.0
N
1.43
1959
 
5,775,669
0.162
35,636,879
105.6
5.59
1.44
1960
 
5,930,979
0.165
36,004,243
106.7
1.03
1.42
1961
 
6,277,788
0.166
37,718,025
111.8
4.76
1.44
1962
 
6,667,572
0.168
39,596,009
117.3
4.98
1.44
1963
 
7,071,775
0.170
41,501,027
123.0
4.81
1.45
1964
 
7,604,219
0.173
43,988,078
130.3
5.99
1.45
1965
 
8,286,465
0.175
47,254,020
140.0
7.42
1.47
1966
 
9,123,193
0.180
50,743,606
150.4
7.38
1.49
1967
 
9,769,915
0.184
53,008,057
157.1
4.46
1.49
1968
 
10,893,808
0.192
56,880,785
168.5
7.31
1.51
1969
 
11,815,600
0.200
59,033,725
174.9
3.79
1.49
1970
 
12,849,372
0.210
61,330,590
181.7
3.89
1.50
1971
 
14,188,137
0.218
64,961,023
192.5
5.92
1.53
1972
 
15,970,576
0.226
70,710,068
209.5
8.85
1.57
1973
 
18,141,651
0.238
76,219,019
225.8
7.79
1.60
1974
 
20,073,602
0.263
76,383,569
226.3
0.22
1.61
1975
 
21,893,630
0.285
76,900,702
227.9
0.68
1.61
1976
 
24,519,691
0.300
81,645,215
241.9
6.17
1.64
1977
 
27,175,753
0.320
84,961,399
251.7
4.06
1.65
1978
 
30,979,262
0.342
90,553,512
268.3
6.58
1.67
1979
 
34,543,736
0.373
92,732,372
274.8
2.41
1.67
1980
 
38,077,998
0.413
92,283,452
273.4
-0.48
1.65
1981
 
42,383,340
0.450
94,273,188
279.3
2.16
1.63
1982
 
45,046,219
0.475
94,922,073
281.2
0.69
1.62
1983
 
48,057,095
0.495
97,136,061
287.8
2.33
1.62
1984
 
53,481,428
0.513
104,164,985
308.6
7.24
1.63
1985
 
57,207,491
0.531
107,666,449
319.0
3.36
1.63
1986
 
61,216,362
0.543
112,758,081
334.1
4.73
1.65
1987
 
65,940,974
0.560
117,827,486
349.1
4.50
1.67
1988
 
71,645,974
0.582
123,206,779
365.1
4.57
1.68
1989
 
76,927,829
0.607
126,755,362
375.6
2.88
1.67
1990
 
81,783,900
0.634
129,088,312
382.5
1.84
1.67
1991
 
86,008,886
0.655
131,365,427
389.2
1.76
1.70
1992
 
94,052,894
0.672
139,922,185
414.6
6.51
1.74
1993
 
100,091,784
0.689
145,287,964
430.5
3.83
1.77
1994
 
106,496,614
0.703
151,424,163
448.7
4.22
1.79
1995
 
114,364,864
0.718
159,258,142
471.9
5.17
1.82
1996
 
120,799,015
0.733
164,697,482
488.0
3.42
1.81
1997
 
127,953,042
0.746
171,465,958
508.0
4.11
1.81
1998
 
140,036,988
0.752
186,179,786
551.6
8.58
1.84
1999
 
145,564,589
0.763
190,684,311
565.0
2.42
1.82
2000
 
154,419,504
0.782
197,379,055
584.8
3.51
1.79
2001
 
158,356,794
0.797
198,596,396
588.4
0.62
1.76
2002
 
162,839,346
0.808
201,561,284
597.2
1.49
1.78
2003
 
169,454,802
0.824
205,753,906
609.6
2.08
1.79
2004
 
179,482,356
0.844
212,629,108
630.0
3.34
1.79
2005
 
187,942,269
0.868
216,493,421
641.5
1.82
1.77
2006
 
200,305,081
0.892
224,622,739
665.5
3.75
1.76
2007
 
209,963,551
0.914
229,623,954
680.4
2.23
1.75
2008
 
217,598,576
0.942
231,045,419
684.6
0.62
1.75
2009
 
216,041,812
0.941
229,602,113
680.3
-0.62
1.79
2010
 
226,586,583
0.957
236,755,220
701.5
3.12
1.81
2011
 
240,717,683
0.981
245,302,385
726.8
3.61
1.81
2012
 
253,613,069
1.000
253,613,069
751.4
3.39
1.81
2013
 
256,016,043
1.013
252,615,834
748.5
-0.39
1.81
2014
 
266,873,405
1.028
259,528,742
769.0
2.74
1.78
2015
 
280,719,455
1.030
272,424,140
807.2
4.97
1.79
2016
 
290,560,382
1.041
279,140,735
827.1
2.47
1.80
2017
 
301,559,853
1.059
284,681,110
843.5
1.98
1.79
2018
 
317,514,933
1.081
293,606,552
869.9
3.14
1.78
2019
 
332,999,320
1.097
303,681,872
899.8
3.43
1.79
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 2020
REAP_PI_SA1400_300_PN
 
   

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, 1958-2019
 
1958
 
376,151,280
0.160
2,355,509,299
100.0
N
1959
 
400,328,786
0.162
2,470,098,019
104.9
4.86
1960
 
417,700,000
0.165
2,535,664,421
107.6
2.65
1961
 
436,047,000
0.166
2,619,844,989
111.2
3.32
1962
 
464,000,000
0.168
2,755,508,047
117.0
5.18
1963
 
487,780,000
0.170
2,862,558,685
121.5
3.88
1964
 
522,633,000
0.173
3,023,271,823
128.3
5.61
1965
 
564,444,000
0.175
3,218,772,810
136.6
6.47
1966
 
612,713,000
0.180
3,407,937,038
144.7
5.88
1967
 
656,828,000
0.184
3,563,713,309
151.3
4.57
1968
 
720,877,000
0.192
3,763,977,653
159.8
5.62
1969
 
791,229,000
0.200
3,953,180,115
167.8
5.03
1970
 
855,525,000
0.210
4,083,456,637
173.4
3.30
1971
 
924,613,000
0.218
4,233,382,171
179.7
3.67
1972
 
1,016,408,000
0.226
4,500,168,246
191.0
6.30
1973
 
1,133,468,000
0.238
4,762,070,414
202.2
5.82
1974
 
1,244,912,000
0.263
4,737,108,067
201.1
-0.52
1975
 
1,362,505,000
0.285
4,785,756,937
203.2
1.03
1976
 
1,495,704,000
0.300
4,980,367,608
211.4
4.07
1977
 
1,651,632,000
0.320
5,163,609,079
219.2
3.68
1978
 
1,855,849,000
0.342
5,424,714,273
230.3
5.06
1979
 
2,073,257,000
0.373
5,565,641,191
236.3
2.60
1980
 
2,313,160,000
0.413
5,606,029,761
238.0
0.73
1981
 
2,592,915,000
0.450
5,767,416,255
244.8
2.88
1982
 
2,779,794,000
0.475
5,857,623,904
248.7
1.56
1983
 
2,968,676,000
0.495
6,000,477,018
254.7
2.44
1984
 
3,279,488,000
0.513
6,387,410,163
271.2
6.45
1985
 
3,510,471,000
0.531
6,606,826,138
280.5
3.44
1986
 
3,719,647,000
0.543
6,851,440,413
290.9
3.70
1987
 
3,946,593,000
0.560
7,052,020,942
299.4
2.93
1988
 
4,267,813,000
0.582
7,339,191,072
311.6
4.07
1989
 
4,609,667,000
0.607
7,595,430,878
322.5
3.49
1990
 
4,897,821,000
0.634
7,730,756,846
328.2
1.78
1991
 
5,067,291,000
0.655
7,739,512,471
328.6
0.11
1992
 
5,409,920,000
0.672
8,048,320,390
341.7
3.99
1993
 
5,648,732,000
0.689
8,199,401,963
348.1
1.88
1994
 
5,940,128,000
0.703
8,446,079,909
358.6
3.01
1995
 
6,286,143,000
0.718
8,753,732,715
371.6
3.64
1996
 
6,673,186,000
0.733
9,098,227,579
386.3
3.94
1997
 
7,086,935,000
0.746
9,496,984,844
403.2
4.38
1998
 
7,601,594,000
0.752
10,106,352,372
429.1
6.42
1999
 
8,001,563,000
0.763
10,481,756,137
445.0
3.71
2000
 
8,650,325,000
0.782
11,056,847,958
469.4
5.49
2001
 
9,001,839,000
0.797
11,289,271,113
479.3
2.10
2002
 
9,155,663,000
0.808
11,332,808,922
481.1
0.39
2003
 
9,480,901,000
0.824
11,511,815,488
488.7
1.58
2004
 
10,028,781,000
0.844
11,880,893,485
504.4
3.21
2005
 
10,593,946,000
0.868
12,203,319,818
518.1
2.71
2006
 
11,372,589,000
0.892
12,753,256,555
541.4
4.51
2007
 
12,002,204,000
0.914
13,126,057,000
557.2
2.92
2008
 
12,438,527,000
0.942
13,207,185,177
560.7
0.62
2009
 
12,051,307,000
0.941
12,807,731,630
543.7
-3.02
2010
 
12,541,995,000
0.957
13,104,848,232
556.3
2.32
2011
 
13,315,478,000
0.981
13,569,084,183
576.1
3.54
2012
 
13,998,383,000
1.000
13,998,383,000
594.3
3.16
2013
 
14,175,503,000
1.013
13,987,234,819
593.8
-0.08
2014
 
14,982,715,000
1.028
14,570,373,432
618.6
4.17
2015
 
15,709,242,000
1.030
15,245,030,812
647.2
4.63
2016
 
16,111,636,000
1.041
15,478,414,080
657.1
1.53
2017
 
16,870,106,000
1.059
15,925,861,662
676.1
2.89
2018
 
17,813,035,000
1.081
16,471,741,121
699.3
3.43
2019
 
18,599,062,366
1.097
16,961,590,426
720.1
2.97
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 2020
REAP_PI_SA1400_300_PN
 
   
Copyright © 2020. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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