Colorado vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2017
Introduction
Colorado:
2017 TPI = $300,006,049K
2017 Percent of U.S. = 1.8%
U.S.:
2017 TPI = $16,413,550,863K
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 2009 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, 1958-2017
Current vs. Constant Dollars (Millions)
Colorado Total Personal Income, 1958-2017
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Colorado's annual total personal income over 1958-2017 in current and constant (2009) 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 7,913.0%, from $3,744M in 1958 to $300,006M in 2017. When measured in constant 2009 dollars to adjust for inflation, it advanced 1,108.9%, from $22,029M in 1958 to $266,300M in 2017.
Real Total Personal Income Indices (1958=100): 1958-2017
Real Total Personal Income Indices (1958=100): 1958-2017
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 1,108.9% over 1958-2017 outpaced the United States' increase of 557.4%.
Total Personal Income as a Percent of the United States Total: 1958-2017
Total Personal Income as a Percent of the United States Total: 1958-2017
Figure 3.
Another interesting and insightful way of contrasting the total personal income growth of Colorado 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, Colorado's total personal income comprised 0.99% of the United States' total personal income, while in 2017 it totaled 1.83% thereby yielding a +0.83% share-shift.
   
 
Total Personal Income Share-Shift
2017 vs. 1958
 
Share-
Shift*
 
2017
vs.
1958
+0.83%
=
1.83%
-
0.99%
 
   
Colorado Real Total Personal Income:
Annual Percent Change, 1959-2017
Colorado Real Total Personal Income:
Annual Percent Change, 1959-2017
Figure 4.
Figure 4 shows the short-run pattern of Colorado's real total personal income growth by tracking the year-to-year percent change over 1959-2017. The average annual percent change for the entire 59-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, Colorado's real total personal income grew at an annual rate of 4.35% over 1959-2017. The state recorded its highest growth in 1998 (10.14%) and posted its lowest growth in 2009 (-4.98%). In 2017, Colorado's real total personal income grew by 2.40%
Colorado Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2017
Colorado Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2017
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 2010-2017.
During the 1960s, Colorado's annual real total personal income growth rate averaged 5.36%. It averaged 5.94% in the 1970s, 3.13% during the 1980s, 5.60% throughout the 1990s, 2.04% in the 2000s, and 3.80% thus far this decade (2010 to 2017).
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 outperformed the nation throughout the 1960s (5.36% vs. 4.81%), led the nation throughout the 1970s (5.94% vs. 3.47%), trailed the nation over the 1980s (3.13% vs. 3.18%), registered above the nation over the 1990s (5.60% vs. 3.31%), fell below the nation during the 2000s (2.04% vs. 2.09%), and topped the nation over 2010-2017 (3.80% vs. 2.38%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
4.35
5.36
5.94
3.13
5.60
2.04
3.80
2.40
 
3.26
4.81
3.47
3.18
3.31
2.09
2.38
1.44
 
   

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, 1958-2017
 
1958
 
3,744,005
0.170
22,028,742
100.0
N
0.99
1959
 
4,019,322
0.173
23,299,067
105.8
5.77
1.00
1960
 
4,302,589
0.175
24,537,149
111.4
5.31
1.03
1961
 
4,633,818
0.177
26,151,690
118.7
6.58
1.06
1962
 
4,886,249
0.179
27,254,847
123.7
4.22
1.05
1963
 
5,117,264
0.181
28,214,501
128.1
3.52
1.05
1964
 
5,413,181
0.184
29,414,666
133.5
4.25
1.04
1965
 
5,780,431
0.187
30,962,724
140.6
5.26
1.02
1966
 
6,219,573
0.191
32,490,064
147.5
4.93
1.01
1967
 
6,707,143
0.196
34,176,525
155.1
5.19
1.02
1968
 
7,449,409
0.204
36,536,412
165.9
6.90
1.03
1969
 
8,362,617
0.213
39,237,165
178.1
7.39
1.06
1970
 
9,447,721
0.223
42,345,574
192.2
7.92
1.10
1971
 
10,654,052
0.233
45,806,148
207.9
8.17
1.15
1972
 
12,056,548
0.241
50,120,757
227.5
9.42
1.19
1973
 
13,774,616
0.254
54,333,449
246.6
8.41
1.22
1974
 
15,431,087
0.280
55,126,776
250.2
1.46
1.24
1975
 
17,007,525
0.303
56,074,926
254.6
1.72
1.25
1976
 
18,711,069
0.320
58,484,884
265.5
4.30
1.25
1977
 
20,872,126
0.341
61,251,690
278.1
4.73
1.27
1978
 
24,076,949
0.365
66,031,180
299.8
7.80
1.30
1979
 
27,639,927
0.397
69,628,998
316.1
5.45
1.34
1980
 
31,667,476
0.440
72,038,663
327.0
3.46
1.37
1981
 
36,459,220
0.478
76,225,084
346.0
5.81
1.41
1982
 
39,984,337
0.505
79,208,275
359.6
3.91
1.44
1983
 
42,968,979
0.527
81,607,846
370.5
3.03
1.45
1984
 
46,898,660
0.546
85,824,247
389.6
5.17
1.43
1985
 
49,560,424
0.566
87,590,442
397.6
2.06
1.42
1986
 
51,512,722
0.578
89,113,106
404.5
1.74
1.39
1987
 
53,462,768
0.597
89,627,440
406.9
0.58
1.36
1988
 
56,574,733
0.620
91,287,851
414.4
1.85
1.33
1989
 
61,209,049
0.646
94,690,752
429.9
3.73
1.33
1990
 
64,865,685
0.674
96,182,807
436.6
1.58
1.33
1991
 
68,711,303
0.697
98,649,433
447.8
2.56
1.36
1992
 
74,732,485
0.715
104,529,730
474.5
5.96
1.38
1993
 
80,953,444
0.733
110,472,910
501.5
5.69
1.44
1994
 
87,221,703
0.748
116,601,878
529.3
5.55
1.47
1995
 
94,817,972
0.764
124,178,810
563.7
6.50
1.51
1996
 
102,272,385
0.780
131,150,389
595.4
5.61
1.54
1997
 
110,052,113
0.793
138,732,226
629.8
5.78
1.56
1998
 
122,141,316
0.799
152,798,884
693.6
10.14
1.61
1999
 
132,118,052
0.811
162,887,501
739.4
6.60
1.65
2000
 
147,226,744
0.831
177,102,097
804.0
8.73
1.71
2001
 
154,592,304
0.847
182,439,936
828.2
3.01
1.72
2002
 
156,288,493
0.859
181,999,573
826.2
-0.24
1.71
2003
 
159,102,588
0.876
181,682,031
824.7
-0.17
1.68
2004
 
164,456,627
0.897
183,334,590
832.3
0.91
1.64
2005
 
176,129,181
0.923
190,903,178
866.6
4.13
1.66
2006
 
189,492,643
0.947
200,036,571
908.1
4.78
1.66
2007
 
201,743,269
0.971
207,764,278
943.2
3.86
1.68
2008
 
208,608,111
1.001
208,472,604
946.4
0.34
1.67
2009
 
198,082,468
1.000
198,082,468
899.2
-4.98
1.64
2010
 
201,569,924
1.017
198,292,155
900.2
0.11
1.62
2011
 
219,860,916
1.041
211,102,282
958.3
6.46
1.66
2012
 
234,005,901
1.061
220,508,571
1,001.0
4.46
1.68
2013
 
246,648,165
1.075
229,371,875
1,041.2
4.02
1.75
2014
 
267,225,467
1.092
244,808,365
1,111.3
6.73
1.80
2015
 
282,665,204
1.095
258,186,538
1,172.0
5.46
1.82
2016
 
288,103,337
1.108
260,046,879
1,180.5
0.72
1.81
2017
 
300,006,049
1.127
266,300,407
1,208.9
2.40
1.83
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 2018
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, 1958-2017
 
1958
 
376,690,281
0.170
2,216,346,676
100.0
N
1959
 
400,673,993
0.173
2,322,613,141
104.8
4.79
1960
 
418,095,000
0.175
2,384,345,595
107.6
2.66
1961
 
436,553,000
0.177
2,463,756,420
111.2
3.33
1962
 
464,248,000
0.179
2,589,513,610
116.8
5.10
1963
 
487,847,000
0.181
2,689,788,830
121.4
3.87
1964
 
522,796,000
0.184
2,840,819,432
128.2
5.61
1965
 
564,631,000
0.187
3,024,430,875
136.5
6.46
1966
 
612,945,000
0.191
3,201,927,598
144.5
5.87
1967
 
656,851,000
0.196
3,347,011,465
151.0
4.53
1968
 
720,704,000
0.204
3,534,768,748
159.5
5.61
1969
 
791,150,000
0.213
3,712,053,676
167.5
5.02
1970
 
855,078,000
0.223
3,832,540,003
172.9
3.25
1971
 
923,964,000
0.233
3,972,500,967
179.2
3.65
1972
 
1,015,526,000
0.241
4,221,683,642
190.5
6.27
1973
 
1,131,213,000
0.254
4,462,026,665
201.3
5.69
1974
 
1,242,433,000
0.280
4,438,528,865
200.3
-0.53
1975
 
1,359,998,000
0.303
4,484,002,638
202.3
1.02
1976
 
1,491,506,000
0.320
4,661,976,057
210.3
3.97
1977
 
1,646,968,000
0.341
4,833,219,862
218.1
3.67
1978
 
1,851,867,000
0.365
5,078,756,548
229.1
5.08
1979
 
2,068,806,000
0.397
5,211,623,337
235.1
2.62
1980
 
2,307,005,000
0.440
5,248,083,441
236.8
0.70
1981
 
2,584,340,000
0.478
5,403,064,958
243.8
2.95
1982
 
2,767,657,000
0.505
5,482,680,269
247.4
1.47
1983
 
2,957,901,000
0.527
5,617,725,486
253.5
2.46
1984
 
3,268,535,000
0.546
5,981,398,115
269.9
6.47
1985
 
3,501,927,000
0.566
6,189,118,448
279.2
3.47
1986
 
3,712,243,000
0.578
6,421,899,111
289.8
3.76
1987
 
3,940,859,000
0.597
6,606,637,050
298.1
2.88
1988
 
4,260,753,000
0.620
6,875,065,350
310.2
4.06
1989
 
4,603,969,000
0.646
7,122,366,609
321.4
3.60
1990
 
4,890,453,000
0.674
7,251,561,388
327.2
1.81
1991
 
5,055,766,000
0.697
7,258,608,511
327.5
0.10
1992
 
5,402,109,000
0.715
7,556,031,275
340.9
4.10
1993
 
5,639,780,000
0.733
7,696,311,358
347.3
1.86
1994
 
5,930,316,000
0.748
7,927,911,982
357.7
3.01
1995
 
6,275,761,000
0.764
8,219,080,360
370.8
3.67
1996
 
6,661,697,000
0.780
8,542,718,098
385.4
3.94
1997
 
7,075,132,000
0.793
8,918,945,630
402.4
4.40
1998
 
7,588,703,000
0.799
9,493,473,529
428.3
6.44
1999
 
7,988,183,000
0.811
9,848,579,707
444.4
3.74
2000
 
8,634,847,000
0.831
10,387,036,124
468.7
5.47
2001
 
8,987,890,000
0.847
10,606,932,119
478.6
2.12
2002
 
9,150,761,000
0.859
10,656,156,184
480.8
0.46
2003
 
9,484,225,000
0.876
10,830,202,576
488.7
1.63
2004
 
10,047,876,000
0.897
11,201,270,861
505.4
3.43
2005
 
10,610,320,000
0.923
11,500,330,584
518.9
2.67
2006
 
11,381,350,000
0.947
12,014,641,768
542.1
4.47
2007
 
11,995,419,000
0.971
12,353,421,145
557.4
2.82
2008
 
12,492,705,000
1.001
12,484,590,016
563.3
1.06
2009
 
12,079,444,000
1.000
12,079,444,000
545.0
-3.25
2010
 
12,459,613,000
1.017
12,257,004,712
553.0
1.47
2011
 
13,233,436,000
1.041
12,706,253,541
573.3
3.67
2012
 
13,904,485,000
1.061
13,102,482,072
591.2
3.12
2013
 
14,068,960,000
1.075
13,083,510,025
590.3
-0.14
2014
 
14,811,388,000
1.092
13,568,885,184
612.2
3.71
2015
 
15,547,661,000
1.095
14,201,241,311
640.7
4.66
2016
 
15,912,777,000
1.108
14,363,138,037
648.1
1.14
2017
 
16,413,550,863
1.127
14,569,490,456
657.4
1.44
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 2018
REAP_PI_SA1400_300_PN
 
   
Copyright © 2019. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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