Vermont vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2021
Introduction
Vermont vs. United States
Vermont:
2021 TPI = $38,542,936K
2021 Percent of U.S. = 0.2%
U.S.:
2021 TPI = $21,056,621,907K
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 Vermont. 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.
Vermont Total Personal Income, 1959-2021
Current vs. Constant Dollars (Millions)
Vermont Total Personal Income, 1959-2021
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Vermont's annual total personal income over 1959-2021 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 Vermont over time.
When measured in current dollars, Vermont's total personal income increased 5,201.0%, from $727M in 1959 to $38,543M in 2021. When measured in constant 2012 dollars to adjust for inflation, it advanced 642.2%, from $4,495M in 1959 to $33,362M in 2021.
Real Total Personal Income Indices (1958=100): 1958-2021
Real Total Personal Income Indices (1958=100): 1958-2021
Figure 2.
Figure 2 shows Vermont'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.
Vermont's overall real total personal income growth was 686.2% over 1958-2021 outpaced the United States' increase of 672.3%.
Total Personal Income as a Percent of the United States Total: 1958-2021
Total Personal Income as a Percent of the United States Total: 1958-2021
Figure 3.
Another interesting and insightful way of comparing the total personal income growth of Vermont 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, Vermont's total personal income comprised 0.18% of the United States' total personal income, while in 2021 it equated to 0.18% thereby yielding a +0.00% share-shift.
   
 
Total Personal Income Share-Shift
2021 vs. 1958
 
Share-
Shift*
 
2021
vs.
1958
0.00%
=
0.18%
-
0.18%
 
   
Vermont Real Total Personal Income:
Annual Percent Change, 1959-2021
Vermont Real Total Personal Income:
Annual Percent Change, 1959-2021
Figure 4.
Figure 4 shows the short-run pattern of Vermont's real total personal income growth by tracking the year-to-year percent change over 1959-2021. The average annual percent change for the entire 63-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, Vermont's real total personal income grew at an annual rate of 3.35% over 1959-2021. The state posted its highest growth in 1966 (10.66%) and posted its lowest growth in 1974 (-1.96%). In 2021, Vermont's real total personal income grew by 0.58%
Vermont Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2021
Vermont Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2021
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 Vermont'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, 2010s, and 2020-2021.
During the 1960s, Vermont's annual real total personal income growth rate averaged 5.40%. It averaged 3.63% during the 1970s, 4.26% during the 1980s, 2.74% during the 1990s, 2.32% during the 2000s, 1.58% throughout the 2010s, 3.03% thus far this decade (2020-2021).
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 Vermont noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total personal income growth trends, Vermont exceeded the nation over the 1960s (5.40% vs. 4.82%), exceeded the nation throughout the 1970s (3.63% vs. 3.50%), outperformed the nation over the 1980s (4.26% vs. 3.17%), lagged the nation throughout the 1990s (2.74% vs. 3.30%), topped the nation in the 2000s (2.32% vs. 2.04%), recorded underneath the nation during the 2010s (1.58% vs. 2.70%), and recorded underneath the nation over 2020-2021 (3.03% vs. 4.35%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
3.35
5.40
3.63
4.26
2.74
2.32
1.58
3.03
0.58
 
3.31
4.82
3.50
3.17
3.30
2.04
2.70
4.35
3.39
 
   

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

   
 
Vermont:
Total Personal Income, 1958-2021
 
1958
 
676,296
0.159
4,243,293
100.0
N
0.18
1959
 
727,094
0.162
4,494,894
105.9
5.93
0.18
1960
 
768,301
0.164
4,673,079
110.1
3.96
0.18
1961
 
800,756
0.166
4,820,347
113.6
3.15
0.18
1962
 
840,471
0.168
5,001,017
117.9
3.75
0.18
1963
 
871,256
0.170
5,122,926
120.7
2.44
0.18
1964
 
933,673
0.173
5,411,342
127.5
5.63
0.18
1965
 
1,022,246
0.175
5,840,738
137.6
7.94
0.18
1966
 
1,159,800
0.179
6,463,442
152.3
10.66
0.19
1967
 
1,256,075
0.184
6,828,350
160.9
5.65
0.19
1968
 
1,382,449
0.191
7,232,273
170.4
5.92
0.19
1969
 
1,515,435
0.200
7,586,279
178.8
4.89
0.19
1970
 
1,663,931
0.209
7,957,585
187.5
4.89
0.19
1971
 
1,802,291
0.218
8,268,148
194.9
3.90
0.19
1972
 
1,989,067
0.225
8,823,827
207.9
6.72
0.20
1973
 
2,183,882
0.238
9,192,970
216.6
4.18
0.19
1974
 
2,364,027
0.262
9,013,028
212.4
-1.96
0.19
1975
 
2,591,785
0.284
9,121,186
215.0
1.20
0.19
1976
 
2,876,016
0.300
9,595,036
226.1
5.20
0.19
1977
 
3,120,096
0.319
9,773,818
230.3
1.86
0.19
1978
 
3,573,412
0.341
10,465,403
246.6
7.08
0.19
1979
 
4,015,134
0.372
10,799,758
254.5
3.19
0.19
1980
 
4,505,299
0.412
10,939,971
257.8
1.30
0.19
1981
 
5,069,132
0.449
11,297,123
266.2
3.26
0.20
1982
 
5,502,286
0.474
11,617,267
273.8
2.83
0.20
1983
 
5,907,740
0.494
11,964,316
282.0
2.99
0.20
1984
 
6,496,255
0.512
12,677,351
298.8
5.96
0.20
1985
 
7,040,967
0.530
13,277,078
312.9
4.73
0.20
1986
 
7,574,217
0.542
13,978,697
329.4
5.28
0.20
1987
 
8,217,480
0.559
14,712,165
346.7
5.25
0.21
1988
 
8,976,787
0.580
15,467,085
364.5
5.13
0.21
1989
 
9,917,053
0.606
16,372,339
385.8
5.85
0.22
1990
 
10,298,043
0.632
16,286,383
383.8
-0.53
0.21
1991
 
10,499,432
0.653
16,067,690
378.7
-1.34
0.21
1992
 
11,241,667
0.671
16,756,849
394.9
4.29
0.21
1993
 
11,680,869
0.688
16,988,378
400.4
1.38
0.21
1994
 
12,247,126
0.702
17,447,788
411.2
2.70
0.21
1995
 
12,890,172
0.717
17,985,199
423.9
3.08
0.21
1996
 
13,585,552
0.732
18,558,483
437.4
3.19
0.20
1997
 
14,333,084
0.745
19,244,722
453.5
3.70
0.20
1998
 
15,426,625
0.751
20,549,654
484.3
6.78
0.20
1999
 
16,303,841
0.762
21,406,230
504.5
4.17
0.20
2000
 
17,687,618
0.781
22,650,298
533.8
5.81
0.20
2001
 
18,804,820
0.797
23,607,537
556.3
4.23
0.21
2002
 
19,212,249
0.807
23,806,410
561.0
0.84
0.21
2003
 
19,980,138
0.824
24,248,329
571.5
1.86
0.21
2004
 
21,131,250
0.844
25,024,277
589.7
3.20
0.21
2005
 
21,666,544
0.869
24,939,620
587.7
-0.34
0.20
2006
 
23,051,976
0.893
25,807,725
608.2
3.48
0.20
2007
 
24,280,942
0.916
26,503,528
624.6
2.70
0.20
2008
 
25,603,938
0.943
27,144,382
639.7
2.42
0.21
2009
 
25,291,705
0.941
26,888,334
633.7
-0.94
0.21
2010
 
26,140,047
0.957
27,301,166
643.4
1.54
0.21
2011
 
27,690,554
0.982
28,206,737
664.7
3.32
0.21
2012
 
28,554,400
1.000
28,554,400
672.9
1.23
0.20
2013
 
28,964,344
1.014
28,577,406
673.5
0.08
0.20
2014
 
30,195,918
1.029
29,348,623
691.6
2.70
0.20
2015
 
31,078,990
1.031
30,139,833
710.3
2.70
0.20
2016
 
31,575,635
1.041
30,318,043
714.5
0.59
0.20
2017
 
32,406,144
1.061
30,557,132
720.1
0.79
0.19
2018
 
33,437,205
1.083
30,869,482
727.5
1.02
0.19
2019
 
34,569,620
1.099
31,449,228
741.2
1.88
0.19
2020
 
36,894,247
1.112
33,170,822
781.7
5.47
0.19
2021
 
38,542,936
1.155
33,362,131
786.2
0.58
0.18
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 2022
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, 1958-2021
 
1958
 
376,151,280
0.159
2,360,090,852
100.0
N
1959
 
400,328,786
0.162
2,474,831,763
104.9
4.86
1960
 
417,700,000
0.164
2,540,599,720
107.6
2.66
1961
 
436,047,000
0.166
2,624,891,645
111.2
3.32
1962
 
464,000,000
0.168
2,760,918,720
117.0
5.18
1963
 
487,780,000
0.170
2,868,113,130
121.5
3.88
1964
 
522,633,000
0.173
3,029,054,132
128.3
5.61
1965
 
564,444,000
0.175
3,225,025,711
136.6
6.47
1966
 
612,713,000
0.179
3,414,584,262
144.7
5.88
1967
 
656,828,000
0.184
3,570,687,687
151.3
4.57
1968
 
720,877,000
0.191
3,771,263,406
159.8
5.62
1969
 
791,229,000
0.200
3,960,898,078
167.8
5.03
1970
 
855,525,000
0.209
4,091,463,415
173.4
3.30
1971
 
924,613,000
0.218
4,241,733,187
179.7
3.67
1972
 
1,016,408,000
0.225
4,508,952,178
191.0
6.30
1973
 
1,133,468,000
0.238
4,771,291,463
202.2
5.82
1974
 
1,244,912,000
0.262
4,746,318,960
201.1
-0.52
1975
 
1,362,505,000
0.284
4,795,020,236
203.2
1.03
1976
 
1,495,704,000
0.300
4,990,004,671
211.4
4.07
1977
 
1,651,632,000
0.319
5,173,799,455
219.2
3.68
1978
 
1,855,849,000
0.341
5,435,199,883
230.3
5.05
1979
 
2,073,257,000
0.372
5,576,569,477
236.3
2.60
1980
 
2,313,160,000
0.412
5,616,920,014
238.0
0.72
1981
 
2,592,915,000
0.449
5,778,598,650
244.8
2.88
1982
 
2,779,794,000
0.474
5,869,125,689
248.7
1.57
1983
 
2,968,676,000
0.494
6,012,143,060
254.7
2.44
1984
 
3,279,488,000
0.512
6,399,875,105
271.2
6.45
1985
 
3,510,471,000
0.530
6,619,658,313
280.5
3.43
1986
 
3,719,647,000
0.542
6,864,843,865
290.9
3.70
1987
 
3,946,593,000
0.559
7,065,782,831
299.4
2.93
1988
 
4,267,813,000
0.580
7,353,480,478
311.6
4.07
1989
 
4,609,667,000
0.606
7,610,227,498
322.5
3.49
1990
 
4,897,821,000
0.632
7,745,917,351
328.2
1.78
1991
 
5,067,291,000
0.653
7,754,672,890
328.6
0.11
1992
 
5,409,920,000
0.671
8,064,036,251
341.7
3.99
1993
 
5,648,732,000
0.688
8,215,381,483
348.1
1.88
1994
 
5,940,128,000
0.702
8,462,564,643
358.6
3.01
1995
 
6,286,143,000
0.717
8,770,831,996
371.6
3.64
1996
 
6,673,186,000
0.732
9,115,876,182
386.3
3.93
1997
 
7,086,935,000
0.745
9,515,474,368
403.2
4.38
1998
 
7,601,594,000
0.751
10,126,007,726
429.1
6.42
1999
 
8,006,585,000
0.762
10,512,295,835
445.4
3.81
2000
 
8,654,561,000
0.781
11,082,803,176
469.6
5.43
2001
 
9,009,842,000
0.797
11,310,939,540
479.3
2.06
2002
 
9,157,682,000
0.807
11,347,527,942
480.8
0.32
2003
 
9,491,393,000
0.824
11,518,960,412
488.1
1.51
2004
 
10,037,313,000
0.844
11,886,495,032
503.6
3.19
2005
 
10,599,603,000
0.869
12,200,841,429
517.0
2.64
2006
 
11,374,142,000
0.893
12,733,863,998
539.5
4.37
2007
 
12,014,107,000
0.916
13,113,833,039
555.6
2.98
2008
 
12,475,898,000
0.943
13,226,501,988
560.4
0.86
2009
 
12,073,407,000
0.941
12,835,583,977
543.9
-2.96
2010
 
12,586,509,000
0.957
13,145,590,985
557.0
2.42
2011
 
13,330,436,000
0.982
13,578,930,427
575.4
3.30
2012
 
14,003,346,000
1.000
14,003,346,000
593.3
3.13
2013
 
14,189,228,000
1.014
13,999,672,435
593.2
-0.03
2014
 
14,969,527,000
1.029
14,549,483,414
616.5
3.93
2015
 
15,681,233,000
1.031
15,207,371,310
644.4
4.52
2016
 
16,092,713,000
1.041
15,451,773,438
654.7
1.61
2017
 
16,845,028,000
1.061
15,883,893,598
673.0
2.80
2018
 
17,681,159,000
1.083
16,323,380,232
691.6
2.77
2019
 
18,402,004,000
1.099
16,740,965,412
709.3
2.56
2020
 
19,607,447,000
1.112
17,628,632,951
746.9
5.30
2021
 
21,056,621,907
1.155
18,226,265,186
772.3
3.39
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
March 2022
REAP_PI_SA1400_300_PN
 
   
Copyright © 2022. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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