Texas vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2018
Introduction
Texas:
2018 TPI = $1,411,021,380K
2018 Percent of U.S. = 8.0%
U.S.:
2018 TPI = $17,572,929,097K
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 Texas. 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 Chain-Weight 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.
Texas Total Personal Income, 1958-2018
Current vs. Constant Dollars (Millions)
Texas Total Personal Income, 1958-2018
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Texas' annual total personal income over 1958-2018 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 Texas over time.
When measured in current dollars, Texas' total personal income increased 7,784.6%, from $17,896M in 1958 to $1,411,021M in 2018. When measured in constant 2012 dollars to adjust for inflation, it advanced 1,063.3%, from $112,067M in 1958 to $1,303,725M in 2018.
Real Total Personal Income Indices (1958=100): 1958-2018
Real Total Personal Income Indices (1958=100): 1958-2018
Figure 2.
Figure 2 shows Texas' 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.
Texas' overall real total personal income growth was 1,063.3% over 1958-2018 outpaced the United States' increase of 589.3%.
Total Personal Income as a Percent of the United States Total: 1958-2018
Total Personal Income as a Percent of the United States Total: 1958-2018
Figure 3.
Another interesting and insightful way of contrasting the total personal income growth of Texas 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, Texas' total personal income comprised 4.8% of the United States' total personal income, while in 2018 it comprised 8.0% thereby yielding a +3.3% share-shift.
   
 
Total Personal Income Share-Shift
2018 vs. 1958
 
Share-
Shift*
 
2018
vs.
1958
+3.27%
=
8.03%
-
4.76%
 
   
Texas Real Total Personal Income:
Annual Percent Change, 1959-2018
Texas Real Total Personal Income:
Annual Percent Change, 1959-2018
Figure 4.
Figure 4 displays the short-run pattern of Texas' real total personal income growth by tracking the year-to-year percent change over 1959-2018. The average annual percent change for the entire 60-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, Texas' real total personal income grew at an annual rate of 4.21% over 1959-2018. The state posted its highest growth in 1998 (8.10%) and posted its lowest growth in 2009 (-4.65%). In 2018, Texas' real total personal income grew by 3.16%
Texas Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2018
Texas Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2018
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 Texas' 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 2010-2018.
During the 1960s, Texas' annual real total personal income growth rate averaged 5.15%. It averaged 5.69% throughout the 1970s, 3.14% throughout the 1980s, 4.57% throughout the 1990s, 3.22% throughout the 2000s, and 3.38% thus far this decade (2010 to 2018).
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 Texas noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total personal income growth trends, Texas surpassed the nation throughout the 1960s (5.15% vs. 4.82%), led the nation over the 1970s (5.69% vs. 3.50%), fell under the nation in the 1980s (3.14% vs. 3.17%), outperformed the nation throughout the 1990s (4.57% vs. 3.29%), topped the nation throughout the 2000s (3.22% vs. 2.05%), and topped the nation over 2010-2018 (3.38% vs. 2.68%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
4.21
5.15
5.69
3.14
4.57
3.22
3.38
3.16
 
3.29
4.82
3.50
3.17
3.29
2.05
2.68
2.39
 
   

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

   
 
Texas:
Total Personal Income, 1958-2018
 
1958
 
17,896,029
0.160
112,067,312
100.0
N
4.76
1959
 
18,929,361
0.162
116,797,439
104.2
4.22
4.73
1960
 
19,437,778
0.165
117,997,802
105.3
1.03
4.65
1961
 
20,545,994
0.166
123,443,848
110.2
4.62
4.71
1962
 
21,582,264
0.168
128,168,324
114.4
3.83
4.65
1963
 
22,539,080
0.170
132,271,596
118.0
3.20
4.62
1964
 
24,171,273
0.173
139,823,411
124.8
5.71
4.62
1965
 
26,016,697
0.175
148,361,639
132.4
6.11
4.61
1966
 
28,468,538
0.180
158,343,278
141.3
6.73
4.65
1967
 
31,101,031
0.184
168,743,047
150.6
6.57
4.74
1968
 
34,653,869
0.192
180,941,254
161.5
7.23
4.81
1969
 
38,574,952
0.200
192,730,212
172.0
6.52
4.88
1970
 
42,497,001
0.210
202,839,965
181.0
5.25
4.97
1971
 
46,116,225
0.218
211,145,209
188.4
4.09
4.99
1972
 
51,173,430
0.226
226,571,460
202.2
7.31
5.03
1973
 
58,113,014
0.238
244,151,811
217.9
7.76
5.13
1974
 
65,532,274
0.263
249,361,773
222.5
2.13
5.26
1975
 
74,746,690
0.285
262,545,451
234.3
5.29
5.49
1976
 
84,227,582
0.300
280,459,450
250.3
6.82
5.63
1977
 
93,978,608
0.320
293,811,693
262.2
4.76
5.69
1978
 
108,293,275
0.342
316,545,190
282.5
7.74
5.84
1979
 
124,677,522
0.373
334,695,772
298.7
5.73
6.01
1980
 
143,140,318
0.413
346,905,913
309.6
3.65
6.19
1981
 
168,292,411
0.450
374,332,513
334.0
7.91
6.49
1982
 
185,542,644
0.475
390,978,262
348.9
4.45
6.67
1983
 
198,083,650
0.495
400,379,290
357.3
2.40
6.67
1984
 
216,833,934
0.513
422,324,239
376.8
5.48
6.61
1985
 
233,561,973
0.531
439,571,598
392.2
4.08
6.65
1986
 
238,934,147
0.543
440,107,104
392.7
0.12
6.42
1987
 
243,559,445
0.560
435,207,357
388.3
-1.11
6.17
1988
 
258,240,426
0.582
444,085,959
396.3
2.04
6.05
1989
 
275,917,143
0.607
454,633,618
405.7
2.38
5.99
1990
 
297,726,251
0.634
469,933,314
419.3
3.37
6.08
1991
 
311,370,378
0.655
475,570,660
424.4
1.20
6.14
1992
 
336,646,045
0.672
500,827,226
446.9
5.31
6.22
1993
 
356,399,215
0.689
517,330,336
461.6
3.30
6.31
1994
 
376,613,598
0.703
535,494,950
477.8
3.51
6.34
1995
 
402,805,264
0.718
560,924,182
500.5
4.75
6.41
1996
 
433,164,880
0.733
590,577,373
527.0
5.29
6.49
1997
 
472,178,352
0.746
632,751,768
564.6
7.14
6.66
1998
 
514,479,641
0.752
684,002,926
610.4
8.10
6.77
1999
 
541,693,745
0.763
709,599,079
633.2
3.74
6.77
2000
 
589,618,264
0.782
753,650,238
672.5
6.21
6.82
2001
 
625,351,776
0.797
784,258,165
699.8
4.06
6.95
2002
 
632,485,656
0.808
782,885,858
698.6
-0.17
6.91
2003
 
655,821,615
0.824
796,305,902
710.6
1.71
6.92
2004
 
686,873,443
0.844
813,725,039
726.1
2.19
6.85
2005
 
747,110,864
0.868
860,607,824
767.9
5.76
7.05
2006
 
820,054,905
0.892
919,612,112
820.6
6.86
7.21
2007
 
871,849,676
0.914
953,487,255
850.8
3.68
7.26
2008
 
956,545,543
0.942
1,015,656,767
906.3
6.52
7.69
2009
 
911,226,962
0.941
968,421,963
864.1
-4.65
7.56
2010
 
966,900,333
0.957
1,010,292,391
901.5
4.32
7.71
2011
 
1,058,034,189
0.981
1,078,185,476
962.1
6.72
7.95
2012
 
1,133,801,108
1.000
1,133,801,108
1,011.7
5.16
8.10
2013
 
1,160,361,606
1.013
1,144,950,571
1,021.7
0.98
8.19
2014
 
1,250,849,527
1.029
1,215,975,354
1,085.0
6.20
8.35
2015
 
1,282,379,851
1.031
1,243,580,150
1,109.7
2.27
8.16
2016
 
1,287,687,296
1.042
1,235,369,402
1,102.3
-0.66
7.99
2017
 
1,340,568,414
1.061
1,263,816,819
1,127.7
2.30
7.97
2018
 
1,411,021,380
1.082
1,303,724,827
1,163.3
3.16
8.03
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
May 2019
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, 1958-2018
 
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
 
14,983,140,000
1.029
14,565,404,207
618.4
4.13
2015
 
15,711,634,000
1.031
15,236,262,607
646.8
4.61
2016
 
16,115,630,000
1.042
15,460,862,474
656.4
1.47
2017
 
16,820,250,000
1.061
15,857,239,825
673.2
2.56
2018
 
17,572,929,097
1.082
16,236,652,589
689.3
2.39
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
May 2019
REAP_PI_SA1400_300_PN
 
   
Copyright © 2019. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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