Rocky Mountain vs. United States
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1958-2022
Introduction
Rocky Mountain vs. United States
Rocky Mountain:
2022 TPI = $864,062,432K
2022 Percent of U.S. = 3.96%
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 Rocky Mountain. 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.
Rocky Mountain Total Personal Income, 1959-2022
Current vs. Constant Dollars (Millions)
Rocky Mountain Total Personal Income, 1959-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Rocky Mountain'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 Rocky Mountain over time.
When measured in current dollars, Rocky Mountain's total personal income increased 9,203.99%, from $9,287M in 1959 to $864,062M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 1,125.91%, from $60,739M in 1959 to $744,605M in 2022.
Real Total Personal Income Indices (1958=100): 1958-2022
Real Total Personal Income Indices (1958=100): 1958-2022
Figure 2.
Figure 2 shows Rocky Mountain'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.
Rocky Mountain's overall real total personal income growth was 1,175.49% 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 Rocky Mountain 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, Rocky Mountain's total personal income comprised 2.34% of the United States' total personal income, while in 2022 it comprised 3.96% thereby yielding a +1.62% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1958
 
Share-
Shift*
 
2022
vs.
1958
+1.62%
=
3.96%
-
2.34%
 
   
Rocky Mountain Real Total Personal Income:
Annual Percent Change, 1959-2022
Rocky Mountain Real Total Personal Income:
Annual Percent Change, 1959-2022
Figure 4.
Figure 4 shows the short-run pattern of Rocky Mountain'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, Rocky Mountain's real total personal income grew at an annual rate of 4.09% over 1959-2022. Rocky Mountain posted its highest growth in 1972 (9.58%) and posted its lowest growth in 2009 (-4.06%). In 2022, Rocky Mountain's real total personal income declined by -0.65%
Rocky Mountain Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022
Rocky Mountain Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1959-2022
Figure 5.
Over the past six decades some BEA regions have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 5 again shows the annual percent change in Rocky Mountain'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, Rocky Mountain's annual real total personal income growth rate averaged 4.51%. It averaged 5.73% in the 1970s, 2.52% throughout the 1980s, 4.97% in the 1990s, 2.70% during the 2000s, 4.01% throughout the 2010s, 4.37% 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 Rocky Mountain noted in the previous graph with the corresponding decade averages for the nation.
Relative to nationwide real total personal income growth trends, Rocky Mountain posted below the nation throughout the 1960s (4.51% vs. 4.82%), outperformed the nation during the 1970s (5.73% vs. 3.50%), fell under the nation over the 1980s (2.52% vs. 3.16%), outpaced the nation over the 1990s (4.97% vs. 3.27%), recorded above the nation throughout the 2000s (2.70% vs. 2.06%), outgained the nation throughout the 2010s (4.01% vs. 2.72%), and outperformed the nation over 2020-2022 (4.37% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
4.09
4.51
5.73
2.52
4.97
2.70
4.01
4.37
-0.65
 
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.

   
 
Rocky Mountain:
Total Personal Income, 1958-2022
 
1958
 
8,795,241
0.151
58,378,076
100.0
N
2.34
1959
 
9,287,013
0.153
60,739,130
104.0
4.04
2.32
1960
 
9,819,201
0.155
63,182,556
108.2
4.02
2.35
1961
 
10,406,585
0.157
66,275,538
113.5
4.90
2.39
1962
 
11,218,404
0.159
70,618,180
121.0
6.55
2.42
1963
 
11,582,933
0.161
72,046,607
123.4
2.02
2.37
1964
 
12,119,738
0.163
74,313,189
127.3
3.15
2.32
1965
 
13,009,573
0.165
78,636,200
134.7
5.82
2.30
1966
 
13,792,213
0.170
81,312,422
139.3
3.40
2.25
1967
 
14,653,326
0.174
84,267,790
144.3
3.63
2.23
1968
 
15,901,409
0.181
88,003,813
150.7
4.43
2.21
1969
 
17,805,758
0.189
94,295,176
161.5
7.15
2.25
1970
 
19,931,406
0.198
100,836,821
172.7
6.94
2.33
1971
 
22,181,767
0.206
107,652,351
184.4
6.76
2.40
1972
 
25,136,598
0.213
117,967,890
202.1
9.58
2.47
1973
 
28,740,381
0.225
127,991,009
219.2
8.50
2.54
1974
 
32,389,563
0.248
130,639,951
223.8
2.07
2.60
1975
 
35,793,076
0.269
133,257,915
228.3
2.00
2.63
1976
 
39,577,964
0.283
139,688,575
239.3
4.83
2.65
1977
 
44,130,561
0.302
146,243,906
250.5
4.69
2.67
1978
 
51,079,338
0.323
158,257,956
271.1
8.22
2.75
1979
 
57,676,745
0.351
164,120,152
281.1
3.70
2.78
1980
 
65,489,950
0.389
168,233,534
288.2
2.51
2.83
1981
 
74,443,968
0.424
175,513,304
300.6
4.33
2.87
1982
 
80,465,076
0.448
179,725,885
307.9
2.40
2.90
1983
 
86,078,681
0.467
184,417,433
315.9
2.61
2.90
1984
 
93,102,382
0.484
192,205,417
329.2
4.22
2.84
1985
 
98,317,712
0.501
196,133,323
336.0
2.04
2.80
1986
 
101,840,746
0.512
198,833,921
340.6
1.38
2.74
1987
 
104,970,513
0.528
198,800,259
340.5
-0.02
2.67
1988
 
111,213,910
0.549
202,704,657
347.2
1.96
2.61
1989
 
120,384,335
0.573
210,237,919
360.1
3.72
2.61
1990
 
128,561,034
0.598
215,074,921
368.4
2.30
2.63
1991
 
136,576,908
0.618
221,091,249
378.7
2.80
2.69
1992
 
147,631,113
0.634
232,783,212
398.8
5.29
2.73
1993
 
159,655,691
0.650
245,624,140
420.7
5.52
2.83
1994
 
170,764,313
0.664
257,345,700
440.8
4.77
2.88
1995
 
184,495,597
0.678
272,302,147
466.4
5.81
2.94
1996
 
198,138,546
0.692
286,314,966
490.4
5.15
2.97
1997
 
211,866,876
0.704
300,917,346
515.5
5.10
3.00
1998
 
230,915,405
0.710
325,384,200
557.4
8.13
3.04
1999
 
245,536,523
0.720
341,018,212
584.2
4.80
3.08
2000
 
268,774,171
0.738
364,084,109
623.7
6.76
3.12
2001
 
282,040,768
0.753
374,546,185
641.6
2.87
3.14
2002
 
286,470,346
0.763
375,496,908
643.2
0.25
3.13
2003
 
295,583,079
0.779
379,468,353
650.0
1.06
3.12
2004
 
312,109,739
0.798
390,982,674
669.7
3.03
3.12
2005
 
334,690,718
0.821
407,528,240
698.1
4.23
3.18
2006
 
365,904,061
0.844
433,330,248
742.3
6.33
3.24
2007
 
392,048,321
0.866
452,675,097
775.4
4.46
3.29
2008
 
411,923,969
0.892
461,953,537
791.3
2.05
3.32
2009
 
394,102,890
0.889
443,205,643
759.2
-4.06
3.27
2010
 
407,052,095
0.905
449,711,752
770.3
1.47
3.24
2011
 
439,614,704
0.928
473,702,323
811.4
5.33
3.31
2012
 
464,962,214
0.945
491,846,546
842.5
3.83
3.34
2013
 
482,115,446
0.958
503,351,861
862.2
2.34
3.43
2014
 
515,987,594
0.971
531,283,238
910.1
5.55
3.49
2015
 
541,260,671
0.973
556,285,955
952.9
4.71
3.50
2016
 
553,886,765
0.983
563,557,410
965.4
1.31
3.49
2017
 
589,876,826
1.000
589,876,826
1,010.4
4.67
3.54
2018
 
633,665,021
1.020
620,954,091
1,063.7
5.27
3.62
2019
 
679,051,943
1.035
656,006,437
1,123.7
5.64
3.70
2020
 
733,061,730
1.046
700,589,411
1,200.1
6.80
3.74
2021
 
816,958,516
1.090
749,496,350
1,283.9
6.98
3.82
2022
 
864,062,432
1.160
744,605,389
1,275.5
-0.65
3.96
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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