| Washington vs. Florida Comparative Trends Analysis: Total Personal Income Growth and Change, 1958-2023 Introduction Washington: 2023 TPI = $622,365,406K 2023 Percent of U.S. = 2.71% 2023 Rank = #12 Florida: 2023 TPI = $1,543,131,690K 2023 Percent of U.S. = 6.72% 2023 Rank = #4 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 Washington and Florida with comparison to the nation. 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. Figure 1. Figure 1 depicts Washington'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 Washington over time. When measured in current dollars, Washington's total personal income increased 8,797.58%, from $6,995M in 1959 to $622,365M in 2023. When measured in constant 2017 dollars to adjust for inflation, it advanced 1,030.12%, from $45,747M in 1959 to $517,001M in 2023. Figure 2. Figure 2 traces Washington's and Florida's annual real total personal income for the period 1958-2023 to illustrate real total personal income patterns over time. During this 66-year period, Washington's real total personal income rose from $43,730M in 1958 to $517,001M in 2023, for a net gain of $473,271M, or 1,082.27%. In comparison, Florida's real total personal income increased from $60,441M in 1958 to $1,281,884M in 2023, for a net advance of $1,221,442M, or 2,020.87%. Washington's real total personal income ranked 12th among the 51 states in 2023, Florida's ranked 4th. Figure 3. Figure 3 portrays Washington's real total personal income growth in a broader context by offering direct comparisons across time with Florida, 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. Washington's overall real total personal income growth was 1,082.27% over 1958-2023 trailed Florida's increase of 2,020.87%, and outpaced the United States' increase of 663.66%. Figure 4. Another interesting and insightful way of highlighting the total personal income growth of Washington and Florida is to trace their individual percentage contributions to the United States' total total personal income over time, as shown in Figure 4. A rising share means a state's total personal income grew faster, or declined less, than the United States' total personal income, while a declining share shows they grew more slowly. In 1958, Washington's total personal income comprised 1.75% of the United States' total personal income, while in 2023 it totaled 2.71% thereby yielding a +0.96% share-shift. Similarly, in 1958, Florida's total personal income consisted of 2.42% of the United States' total personal income, while in 2023 it accounted for 6.72%, resulting in a +4.30% share-shift. | | | | Total Personal Income Share-Shift 2023 vs. 1958 | Share- Shift* | | 2023 | vs. | 1958 | | +0.96% | = | 2.71% | - | 1.75% | | +4.30% | = | 6.72% | - | 2.42% |
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Figure 5. Figure 5 displays the short-run pattern of Washington'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, Washington's real total personal income grew at an annual rate of 3.90% over 1959-2023. The state posted its highest growth in 1966 (10.19%) and recorded its lowest growth in 2022 (-4.06%). In 2023, Washington's real total personal income grew by 2.29% Figure 6. 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 6 again shows the annual percent change in Washington'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, Washington's annual real total personal income growth rate averaged 5.15%. It averaged 4.43% during the 1970s, 3.12% throughout the 1980s, 4.73% during the 1990s, 2.30% throughout the 2000s, 4.14% in the 2010s, 2.61% thus far this decade (2020-2023). Figure 7. Figure 7 compares the decade average growth rates for Washington noted in the previous graph with the corresponding decade averages for Florida and the nation. As the chart reveals, Washington's average annual real total personal income growth lagged Florida's average throughout the 1960s (5.15% vs. 7.28%), posted below Florida's average in the 1970s (4.43% vs. 6.22%), posted below Florida's average in the 1980s (3.12% vs. 5.74%), surpassed Florida's average in the 1990s (4.73% vs. 3.72%), fell below Florida's average in the 2000s (2.30% vs. 2.51%), registered above Florida's average throughout the 2010s (4.14% vs. 3.70%), and recorded under Florida's average over the 4 year period of the current decade, 2020-2023 (2.61% vs. 3.81%). Finally, relative to nationwide real total personal income growth trends, Washington topped the nation during the 1960s (5.15% vs. 4.82%), outperformed the nation during the 1970s (4.43% vs. 3.50%), recorded underneath the nation during the 1980s (3.12% vs. 3.16%), outperformed the nation over the 1990s (4.73% vs. 3.27%), outgained the nation throughout the 2000s (2.30% vs. 2.06%), outgained the nation during the 2010s (4.14% vs. 2.72%), and exceeded the nation over 2020-2023 (2.61% vs. 1.92%). | | | | Real* Total Personal Income Growth: Average Annual Percent Change | | | | | | | | | | | | | | | | | | | | | | | 3.90 | 5.15 | 4.43 | 3.12 | 4.73 | 2.30 | 4.14 | 2.61 | 2.29 | | | 4.86 | 7.28 | 6.22 | 5.74 | 3.72 | 2.51 | 3.70 | 3.81 | 3.19 | | | 3.20 | 4.82 | 3.50 | 3.16 | 3.27 | 2.06 | 2.72 | 1.92 | 1.40 |
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Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | Washington: Total Personal Income, 1958-2023 | | | | | | | | | | 1958 | | 6,588,310 | 0.151 | 43,729,656 | 100.0 | N | 1.75 | 18 | 1959 | | 6,994,768 | 0.153 | 45,747,338 | 104.6 | 4.61 | 1.75 | 18 | 1960 | | 7,247,987 | 0.155 | 46,637,842 | 106.7 | 1.95 | 1.74 | 19 | 1961 | | 7,609,329 | 0.157 | 48,460,890 | 110.8 | 3.91 | 1.75 | 19 | 1962 | | 8,203,071 | 0.159 | 51,637,108 | 118.1 | 6.55 | 1.77 | 19 | 1963 | | 8,393,935 | 0.161 | 52,210,829 | 119.4 | 1.11 | 1.72 | 20 | 1964 | | 8,787,343 | 0.163 | 53,880,330 | 123.2 | 3.20 | 1.68 | 20 | 1965 | | 9,465,122 | 0.165 | 57,211,811 | 130.8 | 6.18 | 1.68 | 20 | 1966 | | 10,693,342 | 0.170 | 63,042,931 | 144.2 | 10.19 | 1.75 | 20 | 1967 | | 11,710,427 | 0.174 | 67,343,878 | 154.0 | 6.82 | 1.78 | 20 | 1968 | | 13,034,813 | 0.181 | 72,139,095 | 165.0 | 7.12 | 1.81 | 18 | 1969 | | 14,235,772 | 0.189 | 75,389,356 | 172.4 | 4.51 | 1.80 | 20 | 1970 | | 15,036,667 | 0.198 | 76,073,394 | 174.0 | 0.91 | 1.76 | 20 | 1971 | | 15,838,561 | 0.206 | 76,867,561 | 175.8 | 1.04 | 1.71 | 20 | 1972 | | 17,079,016 | 0.213 | 80,153,069 | 183.3 | 4.27 | 1.68 | 20 | 1973 | | 19,236,035 | 0.225 | 85,664,819 | 195.9 | 6.88 | 1.70 | 20 | 1974 | | 21,826,702 | 0.248 | 88,035,744 | 201.3 | 2.77 | 1.75 | 19 | 1975 | | 24,719,584 | 0.269 | 92,031,214 | 210.5 | 4.54 | 1.81 | 19 | 1976 | | 27,398,764 | 0.283 | 96,702,658 | 221.1 | 5.08 | 1.83 | 18 | 1977 | | 30,411,983 | 0.302 | 100,782,022 | 230.5 | 4.22 | 1.84 | 18 | 1978 | | 35,366,608 | 0.323 | 109,575,561 | 250.6 | 8.73 | 1.91 | 18 | 1979 | | 40,752,946 | 0.351 | 115,963,196 | 265.2 | 5.83 | 1.97 | 18 | 1980 | | 46,254,685 | 0.389 | 118,821,118 | 271.7 | 2.46 | 2.00 | 17 | 1981 | | 51,365,099 | 0.424 | 121,101,259 | 276.9 | 1.92 | 1.98 | 18 | 1982 | | 54,573,628 | 0.448 | 121,895,039 | 278.7 | 0.66 | 1.96 | 17 | 1983 | | 58,291,800 | 0.467 | 124,886,023 | 285.6 | 2.45 | 1.96 | 17 | 1984 | | 62,358,723 | 0.484 | 128,736,603 | 294.4 | 3.08 | 1.90 | 18 | 1985 | | 66,336,846 | 0.501 | 132,334,915 | 302.6 | 2.80 | 1.89 | 17 | 1986 | | 70,833,996 | 0.512 | 138,296,328 | 316.3 | 4.50 | 1.91 | 17 | 1987 | | 74,745,705 | 0.528 | 141,558,473 | 323.7 | 2.36 | 1.90 | 17 | 1988 | | 81,651,774 | 0.549 | 148,823,064 | 340.3 | 5.13 | 1.91 | 17 | 1989 | | 90,213,844 | 0.573 | 157,548,495 | 360.3 | 5.86 | 1.96 | 16 | 1990 | | 99,135,239 | 0.598 | 165,847,326 | 379.3 | 5.27 | 2.02 | 15 | 1991 | | 106,288,273 | 0.618 | 172,059,884 | 393.5 | 3.75 | 2.10 | 15 | 1992 | | 114,669,850 | 0.634 | 180,810,233 | 413.5 | 5.09 | 2.12 | 15 | 1993 | | 120,546,409 | 0.650 | 185,456,014 | 424.1 | 2.57 | 2.14 | 15 | 1994 | | 126,690,099 | 0.664 | 190,924,858 | 436.6 | 2.95 | 2.14 | 15 | 1995 | | 133,934,768 | 0.678 | 197,678,023 | 452.0 | 3.54 | 2.13 | 15 | 1996 | | 143,929,234 | 0.692 | 207,981,206 | 475.6 | 5.21 | 2.16 | 14 | 1997 | | 154,610,940 | 0.704 | 219,595,978 | 502.2 | 5.58 | 2.19 | 14 | 1998 | | 169,365,441 | 0.710 | 238,653,798 | 545.7 | 8.68 | 2.23 | 14 | 1999 | | 179,870,334 | 0.720 | 249,816,439 | 571.3 | 4.68 | 2.25 | 14 | 2000 | | 192,317,794 | 0.738 | 260,515,556 | 595.7 | 4.28 | 2.23 | 14 | 2001 | | 197,445,687 | 0.753 | 262,205,103 | 599.6 | 0.65 | 2.20 | 15 | 2002 | | 201,073,137 | 0.763 | 263,560,757 | 602.7 | 0.52 | 2.20 | 15 | 2003 | | 209,167,846 | 0.779 | 268,528,829 | 614.1 | 1.88 | 2.21 | 15 | 2004 | | 224,342,927 | 0.798 | 281,036,400 | 642.7 | 4.66 | 2.24 | 15 | 2005 | | 232,783,787 | 0.821 | 283,443,675 | 648.2 | 0.86 | 2.21 | 15 | 2006 | | 253,199,891 | 0.844 | 299,857,758 | 685.7 | 5.79 | 2.24 | 15 | 2007 | | 274,770,444 | 0.866 | 317,261,242 | 725.5 | 5.80 | 2.30 | 14 | 2008 | | 289,381,122 | 0.892 | 324,527,444 | 742.1 | 2.29 | 2.33 | 14 | 2009 | | 277,889,805 | 0.889 | 312,513,135 | 714.6 | -3.70 | 2.30 | 14 | 2010 | | 285,436,747 | 0.905 | 315,350,937 | 721.1 | 0.91 | 2.27 | 15 | 2011 | | 302,460,806 | 0.928 | 325,913,545 | 745.3 | 3.35 | 2.27 | 15 | 2012 | | 324,882,731 | 0.945 | 343,667,602 | 785.9 | 5.45 | 2.34 | 14 | 2013 | | 330,952,568 | 0.958 | 345,530,500 | 790.2 | 0.54 | 2.35 | 14 | 2014 | | 355,276,626 | 0.971 | 365,808,245 | 836.5 | 5.87 | 2.40 | 14 | 2015 | | 376,360,823 | 0.973 | 386,808,521 | 884.5 | 5.74 | 2.43 | 14 | 2016 | | 397,270,635 | 0.983 | 404,206,824 | 924.3 | 4.50 | 2.50 | 14 | 2017 | | 423,017,231 | 1.000 | 423,017,231 | 967.3 | 4.65 | 2.54 | 14 | 2018 | | 451,609,165 | 1.020 | 442,550,163 | 1,012.0 | 4.62 | 2.58 | 14 | 2019 | | 484,334,162 | 1.035 | 467,896,942 | 1,070.0 | 5.73 | 2.64 | 14 | 2020 | | 522,713,789 | 1.046 | 499,559,219 | 1,142.4 | 6.77 | 2.67 | 14 | 2021 | | 574,266,835 | 1.090 | 526,845,474 | 1,204.8 | 5.46 | 2.68 | 13 | 2022 | | 586,520,188 | 1.160 | 505,433,493 | 1,155.8 | -4.06 | 2.69 | 13 | 2023 | | 622,365,406 | 1.204 | 517,000,670 | 1,182.3 | 2.29 | 2.71 | 12 |
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_PSN | | | | |
Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | Florida: Total Personal Income, 1958-2023 | | | | | | | | | | 1958 | | 9,106,091 | 0.151 | 60,441,331 | 100.0 | N | 2.42 | 11 | 1959 | | 10,053,169 | 0.153 | 65,749,961 | 108.8 | 8.78 | 2.51 | 10 | 1960 | | 10,531,577 | 0.155 | 67,766,405 | 112.1 | 3.07 | 2.52 | 10 | 1961 | | 11,165,384 | 0.157 | 71,108,037 | 117.6 | 4.93 | 2.56 | 10 | 1962 | | 12,055,913 | 0.159 | 75,890,174 | 125.6 | 6.73 | 2.60 | 10 | 1963 | | 12,938,925 | 0.161 | 80,480,967 | 133.2 | 6.05 | 2.65 | 10 | 1964 | | 14,155,383 | 0.163 | 86,794,917 | 143.6 | 7.85 | 2.71 | 10 | 1965 | | 15,473,371 | 0.165 | 93,528,596 | 154.7 | 7.76 | 2.74 | 10 | 1966 | | 16,975,610 | 0.170 | 100,080,238 | 165.6 | 7.00 | 2.77 | 10 | 1967 | | 18,771,743 | 0.174 | 107,951,826 | 178.6 | 7.87 | 2.86 | 10 | 1968 | | 21,580,573 | 0.181 | 119,434,241 | 197.6 | 10.64 | 2.99 | 10 | 1969 | | 25,004,933 | 0.189 | 132,420,341 | 219.1 | 10.87 | 3.16 | 9 | 1970 | | 28,276,202 | 0.198 | 143,054,751 | 236.7 | 8.03 | 3.31 | 9 | 1971 | | 31,756,352 | 0.206 | 154,119,641 | 255.0 | 7.73 | 3.43 | 9 | 1972 | | 36,549,964 | 0.213 | 171,531,650 | 283.8 | 11.30 | 3.60 | 9 | 1973 | | 42,578,343 | 0.225 | 189,616,313 | 313.7 | 10.54 | 3.76 | 9 | 1974 | | 47,883,133 | 0.248 | 193,131,662 | 319.5 | 1.85 | 3.85 | 9 | 1975 | | 52,167,930 | 0.269 | 194,221,631 | 321.3 | 0.56 | 3.83 | 9 | 1976 | | 57,012,352 | 0.283 | 201,222,433 | 332.9 | 3.60 | 3.81 | 9 | 1977 | | 63,844,262 | 0.302 | 211,572,979 | 350.0 | 5.14 | 3.87 | 8 | 1978 | | 73,633,283 | 0.323 | 228,136,334 | 377.5 | 7.83 | 3.97 | 8 | 1979 | | 84,679,438 | 0.351 | 240,956,771 | 398.7 | 5.62 | 4.08 | 8 | 1980 | | 99,906,516 | 0.389 | 256,644,359 | 424.6 | 6.51 | 4.32 | 7 | 1981 | | 115,554,486 | 0.424 | 272,437,784 | 450.7 | 6.15 | 4.46 | 7 | 1982 | | 124,862,111 | 0.448 | 278,890,601 | 461.4 | 2.37 | 4.50 | 6 | 1983 | | 138,140,276 | 0.467 | 295,955,686 | 489.7 | 6.12 | 4.65 | 6 | 1984 | | 153,545,389 | 0.484 | 316,987,116 | 524.5 | 7.11 | 4.69 | 6 | 1985 | | 168,155,204 | 0.501 | 335,451,652 | 555.0 | 5.83 | 4.79 | 6 | 1986 | | 181,983,464 | 0.512 | 355,304,602 | 587.9 | 5.92 | 4.89 | 5 | 1987 | | 195,918,080 | 0.528 | 371,042,915 | 613.9 | 4.43 | 4.98 | 5 | 1988 | | 216,350,658 | 0.549 | 394,332,740 | 652.4 | 6.28 | 5.07 | 4 | 1989 | | 240,834,946 | 0.573 | 420,591,582 | 695.9 | 6.66 | 5.23 | 4 | 1990 | | 257,601,057 | 0.598 | 430,951,162 | 713.0 | 2.46 | 5.26 | 4 | 1991 | | 268,849,056 | 0.618 | 435,213,935 | 720.1 | 0.99 | 5.30 | 4 | 1992 | | 284,090,313 | 0.634 | 447,950,667 | 741.1 | 2.93 | 5.25 | 4 | 1993 | | 301,152,003 | 0.650 | 463,310,774 | 766.5 | 3.43 | 5.34 | 4 | 1994 | | 317,382,636 | 0.664 | 478,302,845 | 791.4 | 3.24 | 5.35 | 4 | 1995 | | 341,123,138 | 0.678 | 503,473,061 | 833.0 | 5.26 | 5.43 | 4 | 1996 | | 363,064,761 | 0.692 | 524,637,315 | 868.0 | 4.20 | 5.45 | 4 | 1997 | | 385,679,172 | 0.704 | 547,785,266 | 906.3 | 4.41 | 5.46 | 4 | 1998 | | 416,721,537 | 0.710 | 587,204,668 | 971.5 | 7.20 | 5.49 | 4 | 1999 | | 435,930,396 | 0.720 | 605,450,474 | 1,001.7 | 3.11 | 5.46 | 4 | 2000 | | 471,588,082 | 0.738 | 638,817,808 | 1,056.9 | 5.51 | 5.47 | 4 | 2001 | | 497,335,404 | 0.753 | 660,454,442 | 1,092.7 | 3.39 | 5.53 | 4 | 2002 | | 514,288,810 | 0.763 | 674,114,653 | 1,115.3 | 2.07 | 5.62 | 4 | 2003 | | 540,366,333 | 0.779 | 693,720,098 | 1,147.8 | 2.91 | 5.70 | 4 | 2004 | | 587,003,015 | 0.798 | 735,343,950 | 1,216.6 | 6.00 | 5.86 | 4 | 2005 | | 637,602,753 | 0.821 | 776,361,919 | 1,284.5 | 5.58 | 6.05 | 4 | 2006 | | 690,506,134 | 0.844 | 817,747,672 | 1,353.0 | 5.33 | 6.12 | 4 | 2007 | | 719,734,158 | 0.866 | 831,034,625 | 1,374.9 | 1.62 | 6.04 | 4 | 2008 | | 725,995,008 | 0.892 | 814,169,573 | 1,347.0 | -2.03 | 5.84 | 4 | 2009 | | 685,982,844 | 0.889 | 771,452,012 | 1,276.4 | -5.25 | 5.69 | 4 | 2010 | | 730,690,145 | 0.905 | 807,267,544 | 1,335.6 | 4.64 | 5.82 | 4 | 2011 | | 769,798,435 | 0.928 | 829,488,422 | 1,372.4 | 2.75 | 5.79 | 4 | 2012 | | 794,071,056 | 0.945 | 839,984,615 | 1,389.8 | 1.27 | 5.71 | 4 | 2013 | | 794,604,073 | 0.958 | 829,605,113 | 1,372.6 | -1.24 | 5.65 | 4 | 2014 | | 848,535,336 | 0.971 | 873,688,838 | 1,445.5 | 5.31 | 5.74 | 4 | 2015 | | 905,450,458 | 0.973 | 930,585,574 | 1,539.7 | 6.51 | 5.85 | 4 | 2016 | | 938,985,637 | 0.983 | 955,379,957 | 1,580.7 | 2.66 | 5.91 | 4 | 2017 | | 1,011,002,173 | 1.000 | 1,011,002,173 | 1,672.7 | 5.82 | 6.07 | 4 | 2018 | | 1,078,010,586 | 1.020 | 1,056,386,357 | 1,747.8 | 4.49 | 6.15 | 4 | 2019 | | 1,145,460,767 | 1.035 | 1,106,586,387 | 1,830.8 | 4.75 | 6.24 | 4 | 2020 | | 1,221,121,559 | 1.046 | 1,167,029,731 | 1,930.8 | 5.46 | 6.23 | 4 | 2021 | | 1,376,879,460 | 1.090 | 1,263,180,576 | 2,089.9 | 8.24 | 6.44 | 4 | 2022 | | 1,441,598,918 | 1.160 | 1,242,297,181 | 2,055.4 | -1.65 | 6.61 | 4 | 2023 | | 1,543,131,690 | 1.204 | 1,281,883,776 | 2,120.9 | 3.19 | 6.72 | 4 |
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_PSN | | | | |
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, 1958-2023 | | | | | | | | 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 | | | | |
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