Vermont vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2022
Introduction
Vermont vs. United States
Vermont:
2022 TPI = $40,790,337K
2022 Percent of U.S. = 0.19%
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 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 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.
Vermont Total Personal Income, 1959-2022
Current vs. Constant Dollars (Millions)
Vermont Total Personal Income, 1959-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Vermont'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 Vermont over time.
When measured in current dollars, Vermont's total personal income increased 5,510.05%, from $727M in 1959 to $40,790M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 639.19%, from $4,755M in 1959 to $35,151M in 2022.
Real Total Personal Income Indices (1958=100): 1958-2022
Real Total Personal Income Indices (1958=100): 1958-2022
Figure 2.
Figure 2 portrays 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 683.07% over 1958-2022 outpaced 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 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 2022 it equated to 0.19% thereby yielding a +0.01% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1958
 
Share-
Shift*
 
2022
vs.
1958
+0.01%
=
0.19%
-
0.18%
 
   
Vermont Real Total Personal Income:
Annual Percent Change, 1959-2022
Vermont Real Total Personal Income:
Annual Percent Change, 1959-2022
Figure 4.
Figure 4 highlights the short-run pattern of Vermont'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 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 3.30% over 1959-2022. The state posted its highest growth in 1966 (10.66%) and recorded its lowest growth in 2022 (-3.25%). In 2022, Vermont's real total personal income declined by -3.25%
Vermont Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022
Vermont 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 traces the annual percent change in Vermont'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, Vermont's annual real total personal income growth rate averaged 5.40%. It averaged 3.63% during the 1970s, 4.24% throughout the 1980s, 2.77% throughout the 1990s, 2.28% throughout the 2000s, 1.73% throughout the 2010s, 1.54% 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 Vermont noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total personal income growth trends, Vermont led the nation in the 1960s (5.40% vs. 4.82%), surpassed the nation throughout the 1970s (3.63% vs. 3.50%), outpaced the nation throughout the 1980s (4.24% vs. 3.16%), fell under the nation during the 1990s (2.77% vs. 3.27%), led the nation during the 2000s (2.28% vs. 2.06%), posted below the nation throughout the 2010s (1.73% vs. 2.72%), and posted below the nation over 2020-2022 (1.54% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
3.30
5.40
3.63
4.24
2.77
2.28
1.73
1.54
-3.25
 
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.

   
 
Vermont:
Total Personal Income, 1958-2022
 
1958
 
676,296
0.151
4,488,889
100.0
N
0.18
1959
 
727,094
0.153
4,755,356
105.9
5.94
0.18
1960
 
768,301
0.155
4,943,704
110.1
3.96
0.18
1961
 
800,756
0.157
5,099,707
113.6
3.16
0.18
1962
 
840,471
0.159
5,290,640
117.9
3.74
0.18
1963
 
871,256
0.161
5,419,270
120.7
2.43
0.18
1964
 
933,673
0.163
5,724,894
127.5
5.64
0.18
1965
 
1,022,246
0.165
6,178,953
137.6
7.93
0.18
1966
 
1,159,800
0.170
6,837,637
152.3
10.66
0.19
1967
 
1,256,075
0.174
7,223,388
160.9
5.64
0.19
1968
 
1,382,449
0.181
7,650,944
170.4
5.92
0.19
1969
 
1,515,435
0.189
8,025,393
178.8
4.89
0.19
1970
 
1,663,931
0.198
8,418,147
187.5
4.89
0.19
1971
 
1,802,291
0.206
8,746,862
194.9
3.90
0.19
1972
 
1,989,067
0.213
9,334,837
208.0
6.72
0.20
1973
 
2,183,882
0.225
9,725,593
216.7
4.19
0.19
1974
 
2,364,027
0.248
9,535,058
212.4
-1.96
0.19
1975
 
2,591,785
0.269
9,649,237
215.0
1.20
0.19
1976
 
2,876,016
0.283
10,150,764
226.1
5.20
0.19
1977
 
3,120,096
0.302
10,339,661
230.3
1.86
0.19
1978
 
3,573,412
0.323
11,071,421
246.6
7.08
0.19
1979
 
4,014,867
0.351
11,424,372
254.5
3.19
0.19
1980
 
4,506,540
0.389
11,576,603
257.9
1.33
0.19
1981
 
5,061,344
0.424
11,932,911
265.8
3.08
0.20
1982
 
5,491,146
0.448
12,264,962
273.2
2.78
0.20
1983
 
5,906,012
0.467
12,653,209
281.9
3.17
0.20
1984
 
6,480,322
0.484
13,378,315
298.0
5.73
0.20
1985
 
7,031,154
0.501
14,026,400
312.5
4.84
0.20
1986
 
7,564,819
0.512
14,769,556
329.0
5.30
0.20
1987
 
8,173,313
0.528
15,479,173
344.8
4.80
0.21
1988
 
8,965,124
0.549
16,340,334
364.0
5.56
0.21
1989
 
9,903,085
0.573
17,294,642
385.3
5.84
0.22
1990
 
10,293,914
0.598
17,221,102
383.6
-0.43
0.21
1991
 
10,507,320
0.618
17,009,292
378.9
-1.23
0.21
1992
 
11,227,015
0.634
17,702,641
394.4
4.08
0.21
1993
 
11,661,131
0.650
17,940,202
399.7
1.34
0.21
1994
 
12,223,050
0.664
18,420,414
410.4
2.68
0.21
1995
 
12,862,199
0.678
18,983,675
422.9
3.06
0.20
1996
 
13,545,648
0.692
19,573,787
436.0
3.11
0.20
1997
 
14,358,996
0.704
20,394,273
454.3
4.19
0.20
1998
 
15,458,643
0.710
21,782,861
485.3
6.81
0.20
1999
 
16,326,189
0.720
22,674,948
505.1
4.10
0.20
2000
 
17,680,211
0.738
23,949,786
533.5
5.62
0.21
2001
 
18,797,433
0.753
24,962,727
556.1
4.23
0.21
2002
 
19,198,107
0.763
25,164,314
560.6
0.81
0.21
2003
 
19,945,829
0.779
25,606,374
570.4
1.76
0.21
2004
 
21,049,089
0.798
26,368,383
587.4
2.98
0.21
2005
 
21,477,398
0.821
26,151,446
582.6
-0.82
0.20
2006
 
22,803,466
0.844
27,005,526
601.6
3.27
0.20
2007
 
24,062,984
0.866
27,784,110
619.0
2.88
0.20
2008
 
25,449,395
0.892
28,540,311
635.8
2.72
0.20
2009
 
25,216,382
0.889
28,358,185
631.7
-0.64
0.21
2010
 
25,988,718
0.905
28,712,374
639.6
1.25
0.21
2011
 
27,547,769
0.928
29,683,816
661.3
3.38
0.21
2012
 
28,291,866
0.945
29,927,715
666.7
0.82
0.20
2013
 
28,665,970
0.958
29,928,660
666.7
0.00
0.20
2014
 
29,724,479
0.971
30,605,615
681.8
2.26
0.20
2015
 
30,597,984
0.973
31,447,378
700.6
2.75
0.20
2016
 
31,073,264
0.983
31,615,791
704.3
0.54
0.20
2017
 
31,960,192
1.000
31,960,192
712.0
1.09
0.19
2018
 
33,117,074
1.020
32,452,766
723.0
1.54
0.19
2019
 
34,824,056
1.035
33,642,205
749.5
3.67
0.19
2020
 
37,273,845
1.046
35,622,731
793.6
5.89
0.19
2021
 
39,603,541
1.090
36,333,191
809.4
1.99
0.19
2022
 
40,790,337
1.160
35,151,053
783.1
-3.25
0.19
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
 
   

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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