Colorado vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2018
Introduction
Colorado:
2018 TPI = $323,767,258K
2018 Percent of U.S. = 1.8%
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 Colorado. 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.
Colorado Total Personal Income, 1958-2018
Current vs. Constant Dollars (Millions)
Colorado Total Personal Income, 1958-2018
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Colorado's 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 Colorado over time.
When measured in current dollars, Colorado's total personal income increased 8,449.2%, from $3,787M in 1958 to $323,767M in 2018. When measured in constant 2012 dollars to adjust for inflation, it advanced 1,161.4%, from $23,715M in 1958 to $299,147M 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 Colorado'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.
Colorado's overall real total personal income growth was 1,161.4% 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 highlighting the total personal income growth of Colorado 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, Colorado's total personal income totaled 1.0% of the United States' total personal income, while in 2018 it comprised 1.8% thereby yielding a +0.8% share-shift.
   
 
Total Personal Income Share-Shift
2018 vs. 1958
 
Share-
Shift*
 
2018
vs.
1958
+0.84%
=
1.84%
-
1.01%
 
   
Colorado Real Total Personal Income:
Annual Percent Change, 1959-2018
Colorado Real Total Personal Income:
Annual Percent Change, 1959-2018
Figure 4.
Figure 4 highlights the short-run pattern of Colorado's 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, Colorado's real total personal income grew at an annual rate of 4.35% over 1959-2018. The state posted its highest growth in 1972 (9.43%) and posted its lowest growth in 2009 (-4.55%). In 2018, Colorado's real total personal income grew by 3.56%
Colorado Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2018
Colorado 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 traces the annual percent change in Colorado'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, and 2010-2018.
During the 1960s, Colorado's annual real total personal income growth rate averaged 5.33%. It averaged 5.98% during the 1970s, 3.14% in the 1980s, 5.44% during the 1990s, 2.04% during the 2000s, and 3.99% 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 Colorado noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total personal income growth trends, Colorado registered above the nation during the 1960s (5.33% vs. 4.82%), outperformed the nation over the 1970s (5.98% vs. 3.50%), fell under the nation over the 1980s (3.14% vs. 3.17%), exceeded the nation over the 1990s (5.44% vs. 3.29%), recorded underneath the nation in the 2000s (2.04% vs. 2.05%), and outperformed the nation over 2010-2018 (3.99% vs. 2.68%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
4.35
5.33
5.98
3.14
5.44
2.04
3.99
3.56
 
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.

   
 
Colorado:
Total Personal Income, 1958-2018
 
1958
 
3,787,113
0.160
23,715,405
100.0
N
1.01
1959
 
4,067,987
0.162
25,100,185
105.8
5.84
1.02
1960
 
4,353,425
0.165
26,427,639
111.4
5.29
1.04
1961
 
4,683,908
0.166
28,141,721
118.7
6.49
1.07
1962
 
4,942,094
0.168
29,349,094
123.8
4.29
1.07
1963
 
5,174,404
0.170
30,366,221
128.0
3.47
1.06
1964
 
5,474,159
0.173
31,666,333
133.5
4.28
1.05
1965
 
5,840,650
0.175
33,306,626
140.4
5.18
1.03
1966
 
6,275,775
0.180
34,906,140
147.2
4.80
1.02
1967
 
6,763,465
0.184
36,696,137
154.7
5.13
1.03
1968
 
7,502,727
0.192
39,174,640
165.2
6.75
1.04
1969
 
8,438,834
0.200
42,162,548
177.8
7.63
1.07
1970
 
9,540,190
0.210
45,535,726
192.0
8.00
1.12
1971
 
10,759,666
0.218
49,263,614
207.7
8.19
1.16
1972
 
12,176,083
0.226
53,909,869
227.3
9.43
1.20
1973
 
13,923,113
0.238
58,495,559
246.7
8.51
1.23
1974
 
15,609,172
0.263
59,395,632
250.5
1.54
1.25
1975
 
17,249,727
0.285
60,589,136
255.5
2.01
1.27
1976
 
18,981,259
0.300
63,203,446
266.5
4.31
1.27
1977
 
21,174,240
0.320
66,198,462
279.1
4.74
1.28
1978
 
24,413,528
0.342
71,361,632
300.9
7.80
1.32
1979
 
27,979,283
0.373
75,110,153
316.7
5.25
1.35
1980
 
32,050,837
0.413
77,676,402
327.5
3.42
1.39
1981
 
36,882,856
0.450
82,038,471
345.9
5.62
1.42
1982
 
40,505,905
0.475
85,354,655
359.9
4.04
1.46
1983
 
43,694,220
0.495
88,317,541
372.4
3.47
1.47
1984
 
47,644,633
0.513
92,796,745
391.3
5.07
1.45
1985
 
50,483,632
0.531
95,011,917
400.6
2.39
1.44
1986
 
52,445,729
0.543
96,602,927
407.3
1.67
1.41
1987
 
54,400,004
0.560
97,205,353
409.9
0.62
1.38
1988
 
57,556,607
0.582
98,977,846
417.4
1.82
1.35
1989
 
62,010,063
0.607
102,175,091
430.8
3.23
1.35
1990
 
65,667,206
0.634
103,649,603
437.1
1.44
1.34
1991
 
69,601,893
0.655
106,306,253
448.3
2.56
1.37
1992
 
75,599,104
0.672
112,468,541
474.2
5.80
1.40
1993
 
81,812,058
0.689
118,754,076
500.7
5.59
1.45
1994
 
87,983,829
0.703
125,101,420
527.5
5.34
1.48
1995
 
95,648,804
0.718
133,195,199
561.6
6.47
1.52
1996
 
103,235,761
0.733
140,751,726
593.5
5.67
1.55
1997
 
111,207,820
0.746
149,026,198
628.4
5.88
1.57
1998
 
122,314,720
0.752
162,617,954
685.7
9.12
1.61
1999
 
132,204,964
0.763
173,183,688
730.3
6.50
1.65
2000
 
147,234,259
0.782
188,194,873
793.6
8.67
1.70
2001
 
154,409,814
0.797
193,646,460
816.5
2.90
1.72
2002
 
154,765,500
0.808
191,567,540
807.8
-1.07
1.69
2003
 
157,543,201
0.824
191,290,708
806.6
-0.14
1.66
2004
 
163,427,008
0.844
193,608,662
816.4
1.21
1.63
2005
 
174,771,645
0.868
201,321,989
848.9
3.98
1.65
2006
 
188,803,293
0.892
211,724,598
892.8
5.17
1.66
2007
 
201,227,297
0.914
220,069,661
928.0
3.94
1.68
2008
 
207,772,729
0.942
220,612,369
930.2
0.25
1.67
2009
 
198,147,196
0.941
210,584,305
888.0
-4.55
1.64
2010
 
204,691,900
0.957
213,877,958
901.9
1.56
1.63
2011
 
222,571,956
0.981
226,811,055
956.4
6.05
1.67
2012
 
236,687,388
1.000
236,687,388
998.0
4.35
1.69
2013
 
248,958,974
1.013
245,652,491
1,035.8
3.79
1.76
2014
 
271,101,038
1.029
263,542,635
1,111.3
7.28
1.81
2015
 
284,142,915
1.031
275,545,883
1,161.9
4.55
1.81
2016
 
289,620,855
1.042
277,853,749
1,171.6
0.84
1.80
2017
 
306,411,131
1.061
288,868,167
1,218.1
3.96
1.82
2018
 
323,767,258
1.082
299,147,425
1,261.4
3.56
1.84
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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