Utah vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2023
Introduction
Utah vs. United States
Utah:
2023 TPI = $214,713,101K
2023 Percent of U.S. = 0.94%
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 Utah. 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.
Utah Total Personal Income, 1959-2023
Current vs. Constant Dollars (Millions)
Utah Total Personal Income, 1959-2023
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Utah'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 Utah over time.
When measured in current dollars, Utah's total personal income increased 11,913.31%, from $1,787M in 1959 to $214,713M in 2023. When measured in constant 2017 dollars to adjust for inflation, it advanced 1,425.86%, from $11,689M in 1959 to $178,363M in 2023.
Real Total Personal Income Indices (1958=100): 1958-2023
Real Total Personal Income Indices (1958=100): 1958-2023
Figure 2.
Figure 2 portrays Utah'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.
Utah's overall real total personal income growth was 1,512.09% 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 Utah 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, Utah's total personal income totaled 0.44% of the United States' total personal income, while in 2023 it equated to 0.94% thereby yielding a +0.49% share-shift.
   
 
Total Personal Income Share-Shift
2023 vs. 1958
 
Share-
Shift*
 
2023
vs.
1958
+0.49%
=
0.94%
-
0.44%
 
   
Utah Real Total Personal Income:
Annual Percent Change, 1959-2023
Utah Real Total Personal Income:
Annual Percent Change, 1959-2023
Figure 4.
Figure 4 displays the short-run pattern of Utah'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, Utah's real total personal income grew at an annual rate of 4.39% over 1959-2023. The state posted its highest growth in 2006 (8.13%) and posted its lowest growth in 2009 (-3.48%). In 2023, Utah's real total personal income grew by 2.97%
Utah Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2023
Utah 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 shows the annual percent change in Utah'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, Utah's annual real total personal income growth rate averaged 4.45%. It averaged 5.66% throughout the 1970s, 2.97% throughout the 1980s, 5.35% in the 1990s, 3.35% throughout the 2000s, 4.46% in the 2010s, 4.42% 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 Utah noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total personal income growth trends, Utah posted below the nation over the 1960s (4.45% vs. 4.82%), outpaced the nation over the 1970s (5.66% vs. 3.50%), posted below the nation in the 1980s (2.97% vs. 3.16%), surpassed the nation in the 1990s (5.35% vs. 3.27%), surpassed the nation throughout the 2000s (3.35% vs. 2.06%), led the nation over the 2010s (4.46% vs. 2.72%), and outperformed the nation over 2020-2023 (4.42% vs. 1.92%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
4.39
4.45
5.66
2.97
5.35
3.35
4.46
4.42
2.97
 
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.

   
 
Utah:
Total Personal Income, 1958-2023
 
1958
 
1,666,917
0.151
11,064,098
100.0
N
0.44
1959
 
1,787,294
0.153
11,689,300
105.7
5.65
0.45
1960
 
1,909,838
0.155
12,289,029
111.1
5.13
0.46
1961
 
2,046,870
0.157
13,035,728
117.8
6.08
0.47
1962
 
2,228,050
0.159
14,025,242
126.8
7.59
0.48
1963
 
2,315,116
0.161
14,400,174
130.2
2.67
0.47
1964
 
2,436,938
0.163
14,942,290
135.1
3.76
0.47
1965
 
2,583,192
0.165
15,614,072
141.1
4.50
0.46
1966
 
2,751,307
0.170
16,220,416
146.6
3.88
0.45
1967
 
2,903,484
0.174
16,697,245
150.9
2.94
0.44
1968
 
3,111,604
0.181
17,220,676
155.6
3.13
0.43
1969
 
3,406,875
0.189
18,042,022
163.1
4.77
0.43
1970
 
3,791,439
0.198
19,181,620
173.4
6.32
0.44
1971
 
4,243,112
0.206
20,592,633
186.1
7.36
0.46
1972
 
4,741,413
0.213
22,251,797
201.1
8.06
0.47
1973
 
5,282,895
0.225
23,526,587
212.6
5.73
0.47
1974
 
5,910,411
0.248
23,839,031
215.5
1.33
0.47
1975
 
6,590,527
0.269
24,536,586
221.8
2.93
0.48
1976
 
7,463,623
0.283
26,342,509
238.1
7.36
0.50
1977
 
8,440,469
0.302
27,970,801
252.8
6.18
0.51
1978
 
9,711,665
0.323
30,089,432
272.0
7.57
0.52
1979
 
10,970,210
0.351
31,215,918
282.1
3.74
0.53
1980
 
12,318,448
0.389
31,644,184
286.0
1.37
0.53
1981
 
13,878,413
0.424
32,720,530
295.7
3.40
0.54
1982
 
15,058,011
0.448
33,633,403
304.0
2.79
0.54
1983
 
16,136,101
0.467
34,570,445
312.5
2.79
0.54
1984
 
17,800,948
0.484
36,749,206
332.1
6.30
0.54
1985
 
19,059,816
0.501
38,022,295
343.7
3.46
0.54
1986
 
20,029,871
0.512
39,106,330
353.5
2.85
0.54
1987
 
20,928,144
0.528
39,635,135
358.2
1.35
0.53
1988
 
22,309,336
0.549
40,662,236
367.5
2.59
0.52
1989
 
23,942,146
0.573
41,812,309
377.9
2.83
0.52
1990
 
25,975,922
0.598
43,456,164
392.8
3.93
0.53
1991
 
27,877,464
0.618
45,128,151
407.9
3.85
0.55
1992
 
30,105,915
0.634
47,470,695
429.1
5.19
0.56
1993
 
32,466,503
0.650
49,948,466
451.4
5.22
0.58
1994
 
35,131,085
0.664
52,943,343
478.5
6.00
0.59
1995
 
38,274,771
0.678
56,490,792
510.6
6.70
0.61
1996
 
41,682,790
0.692
60,232,634
544.4
6.62
0.63
1997
 
45,000,539
0.704
63,914,865
577.7
6.11
0.64
1998
 
48,098,523
0.710
67,775,900
612.6
6.04
0.63
1999
 
50,669,999
0.720
70,374,021
636.1
3.83
0.64
2000
 
54,230,564
0.738
73,461,250
664.0
4.39
0.63
2001
 
56,788,677
0.753
75,414,567
681.6
2.66
0.63
2002
 
58,508,581
0.763
76,691,328
693.2
1.69
0.64
2003
 
60,770,445
0.779
78,016,850
705.1
1.73
0.64
2004
 
64,794,962
0.798
81,169,231
733.6
4.04
0.65
2005
 
70,661,847
0.821
86,039,727
777.6
6.00
0.67
2006
 
78,561,107
0.844
93,037,787
840.9
8.13
0.70
2007
 
85,528,474
0.866
98,754,690
892.6
6.14
0.72
2008
 
89,967,770
0.892
100,894,662
911.9
2.17
0.72
2009
 
86,594,676
0.889
97,383,831
880.2
-3.48
0.72
2010
 
88,940,512
0.905
98,261,608
888.1
0.90
0.71
2011
 
95,881,711
0.928
103,316,356
933.8
5.14
0.72
2012
 
101,928,136
0.945
107,821,668
974.5
4.36
0.73
2013
 
105,027,979
0.958
109,654,294
991.1
1.70
0.75
2014
 
111,056,448
0.971
114,348,543
1,033.5
4.28
0.75
2015
 
119,661,481
0.973
122,983,259
1,111.6
7.55
0.77
2016
 
126,540,574
0.983
128,749,923
1,163.7
4.69
0.80
2017
 
134,546,734
1.000
134,546,734
1,216.1
4.50
0.81
2018
 
144,645,502
1.020
141,744,002
1,281.1
5.35
0.83
2019
 
155,673,648
1.035
150,390,432
1,359.3
6.10
0.85
2020
 
169,940,204
1.046
162,412,390
1,467.9
7.99
0.87
2021
 
190,468,266
1.090
174,739,925
1,579.3
7.59
0.89
2022
 
201,011,812
1.160
173,221,833
1,565.6
-0.87
0.92
2023
 
214,713,101
1.204
178,362,769
1,612.1
2.97
0.94
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.

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