Monroe County vs. Arkansas
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Monroe County vs. Arkansas
Monroe County:
2022 Earnings = $124,833K
2022 Percent of State = 0.13%
Arkansas:
2022 Earnings = $97,523,812K
2022 Percent of U.S. = 0.64%
Industry earnings are incomes received by people who are directly involved with producing goods and services. Earnings, referred to also as "labor and proprietors income", include (1) wage and salary disbursements, (2) other labor income such as employer contributions to private retirement and medical insurance programs, and (3) the net incomes of proprietors (i.e., the owners of unincorporated enterprises).
In contrast to the more frequently cited employment data, earnings data more accurately reflect qualitative differences in labor's contributions toward the production of goods and services, namely the productivity differences reflected in variations in earnings per job. Earnings data, therefore, are better for comparing and tracking long-term trends and identifying short-run shifts in the level and composition of economic activity within and among counties.
Just like the employment data compiled by BEA, earnings data are reported on a place-of-work, or more accurately on a place-where-earned, basis.
Note: the BEA earnings data presented and discussed here in the context of comparing and assessing the economic growth and performance of county and regional economies are entirely separate and apart from--and should not be confused with--corporate earnings, which are compiled from the balance sheets of individual private corporations.
Monroe County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Monroe County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Monroe County's annual total industry earnings over 1970-2022 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 Monroe County over time.
When measured in current dollars, Monroe County's total industry earnings increased 377.83%, from $26M in 1970 to $125M in 2022. When measured in constant 2017 dollars to adjust for inflation, it declined -18.61%, from $132M in 1970 to $108M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Monroe County's and Arkansas' annual real total industry earnings for the period 1969-2022 to illustrate real total industry earnings patterns over time. During this 54-year period, Monroe County's real total industry earnings dropped from $123M in 1969 to $108M in 2022, for a net loss of ($15)M, or -12.31%. In comparison, Arkansas' real total industry earnings advanced from $21,822M in 1969 to $84,041M in 2022, for a net advance of $62,220M, or 285.13%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Monroe County's real total industry earnings growth in a broader context by offering direct comparisons across time with Arkansas, the United States. The growth indices shown here express each region's real total industry earnings in 1969 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total industry earnings growth between regions that may differ vastly in size.
Monroe County's overall real total industry earnings growth was -12.31% over 1969-2022 trailed Arkansas' increase of 285.13%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Arkansas Total: 1969-2022
Total Industry Earnings as a Percent of the Arkansas Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total industry earnings growth of Monroe County is to trace its individual percentage contributions to Arkansas' statewide total industry earnings over time, as shown in Figure 4. A rising share means a region's total industry earnings grew faster, or declined less, than Arkansas' total industry earnings, while a declining share shows it grew more slowly.
In 1969, Monroe County's total industry earnings totaled 0.56% of Arkansas' total industry earnings, while in 2022 it comprised 0.13% thereby yielding a -0.43% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.43%
=
0.13%
-
0.56%
 
   
Monroe County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Monroe County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Monroe County's real total industry earnings growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-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, Monroe County's real total industry earnings grew at an annual rate of 0.67% over 1970-2022. The county posted its highest growth in 1973 (43.33%) and posted its lowest growth in 1980 (-31.42%). In 2022, Monroe County's real total industry earnings declined by -17.54%
Monroe County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Monroe County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again traces the annual percent change in Monroe County's real total industry earnings since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Monroe County's annual real total industry earnings growth rate averaged 4.27%. It averaged -1.28% during the 1980s, 1.66% throughout the 1990s, -2.29% in the 2000s, 1.55% throughout the 2010s, -1.17% thus far this decade (2020-2022).
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Monroe County noted in the previous graph with the corresponding decade averages for Arkansas and the nation. As the chart reveals, Monroe County's average annual real total industry earnings growth fell below Arkansas' average throughout the 1970s (4.27% vs. 4.97%), recorded under Arkansas' average in the 1980s (-1.28% vs. 1.67%), recorded under Arkansas' average throughout the 1990s (1.66% vs. 3.76%), amounted to less than Arkansas' average throughout the 2000s (-2.29% vs. 1.22%), fell below Arkansas' average in the 2010s (1.55% vs. 1.60%), and posted below Arkansas' average over the 3 year period of the current decade, 2020-2022 (-1.17% vs. 2.46%).
Finally, relative to nationwide real total industry earnings growth trends, Monroe County exceeded the nation during the 1970s (4.27% vs. 3.13%), posted below the nation during the 1980s (-1.28% vs. 2.62%), lagged the nation in the 1990s (1.66% vs. 3.43%), fell under the nation during the 2000s (-2.29% vs. 1.47%), fell below the nation throughout the 2010s (1.55% vs. 2.53%), and fell under the nation over 2020-2022 (-1.17% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
0.67
4.27
-1.28
1.66
-2.29
1.55
-1.17
-17.54
 
2.63
4.97
1.67
3.76
1.22
1.60
2.46
0.18
 
2.57
3.13
2.62
3.43
1.47
2.53
1.48
0.05
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Monroe County:
Total Industry Earnings, 1969-2022
 
1969
 
23,166
0.189
122,682
100.0
N
0.56
1970
 
26,125
0.198
132,171
107.7
7.74
0.59
1971
 
26,087
0.206
126,605
103.2
-4.21
0.53
1972
 
27,701
0.213
130,003
106.0
2.68
0.49
1973
 
41,841
0.225
186,333
151.9
43.33
0.63
1974
 
45,312
0.248
182,761
149.0
-1.92
0.62
1975
 
41,378
0.269
154,051
125.6
-15.71
0.54
1976
 
42,380
0.283
149,578
121.9
-2.90
0.49
1977
 
49,769
0.302
164,929
134.4
10.26
0.51
1978
 
56,239
0.323
174,244
142.0
5.65
0.49
1979
 
59,878
0.351
170,384
138.9
-2.22
0.49
1980
 
45,487
0.389
116,849
95.2
-31.42
0.36
1981
 
56,596
0.424
133,434
108.8
14.19
0.40
1982
 
46,504
0.448
103,871
84.7
-22.16
0.33
1983
 
43,344
0.467
92,861
75.7
-10.60
0.28
1984
 
56,352
0.484
116,336
94.8
25.28
0.33
1985
 
61,519
0.501
122,724
100.0
5.49
0.34
1986
 
53,894
0.512
105,223
85.8
-14.26
0.28
1987
 
59,327
0.528
112,357
91.6
6.78
0.29
1988
 
77,735
0.549
141,684
115.5
26.10
0.35
1989
 
71,200
0.573
124,343
101.4
-12.24
0.30
1990
 
73,301
0.598
122,628
100.0
-1.38
0.30
1991
 
77,523
0.618
125,495
102.3
2.34
0.29
1992
 
81,273
0.634
128,150
104.5
2.12
0.28
1993
 
81,613
0.650
125,558
102.3
-2.02
0.27
1994
 
87,686
0.664
132,145
107.7
5.25
0.27
1995
 
94,034
0.678
138,787
113.1
5.03
0.27
1996
 
107,133
0.692
154,810
126.2
11.54
0.30
1997
 
100,727
0.704
143,064
116.6
-7.59
0.27
1998
 
100,666
0.710
141,849
115.6
-0.85
0.25
1999
 
104,356
0.720
144,937
118.1
2.18
0.24
2000
 
106,090
0.738
143,711
117.1
-0.85
0.24
2001
 
106,577
0.753
141,533
115.4
-1.52
0.23
2002
 
95,347
0.763
124,978
101.9
-11.70
0.20
2003
 
124,866
0.779
160,302
130.7
28.26
0.24
2004
 
116,473
0.798
145,907
118.9
-8.98
0.21
2005
 
112,209
0.821
136,629
111.4
-6.36
0.20
2006
 
114,347
0.844
135,418
110.4
-0.89
0.20
2007
 
105,994
0.866
122,385
99.8
-9.62
0.17
2008
 
107,104
0.892
120,112
97.9
-1.86
0.18
2009
 
96,774
0.889
108,831
88.7
-9.39
0.16
2010
 
104,776
0.905
115,757
94.4
6.36
0.17
2011
 
118,081
0.928
127,237
103.7
9.92
0.19
2012
 
127,579
0.945
134,956
110.0
6.07
0.19
2013
 
173,658
0.958
181,307
147.8
34.35
0.25
2014
 
134,955
0.971
138,956
113.3
-23.36
0.19
2015
 
112,658
0.973
115,785
94.4
-16.67
0.16
2016
 
115,345
0.983
117,359
95.7
1.36
0.16
2017
 
116,012
1.000
116,012
94.6
-1.15
0.15
2018
 
114,582
1.020
112,284
91.5
-3.21
0.15
2019
 
118,402
1.035
114,384
93.2
1.87
0.15
2020
 
136,410
1.046
130,367
106.3
13.97
0.16
2021
 
142,207
1.090
130,464
106.3
0.07
0.16
2022
 
124,833
1.160
107,575
87.7
-17.54
0.13
Source: Calculations by the Arkansas Regional Economic Analysis Project (AR-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Arkansas:
Total Industry Earnings, 1969-2022
 
1969
 
4,120,559
0.189
21,821,527
100.0
N
0.63
1970
 
4,440,853
0.198
22,467,130
103.0
2.96
0.64
1971
 
4,910,658
0.206
23,832,361
109.2
6.08
0.66
1972
 
5,604,915
0.213
26,304,275
120.5
10.37
0.68
1973
 
6,686,519
0.225
29,777,417
136.5
13.20
0.73
1974
 
7,300,970
0.248
29,447,707
134.9
-1.11
0.73
1975
 
7,732,316
0.269
28,787,476
131.9
-2.24
0.73
1976
 
8,631,611
0.283
30,464,868
139.6
5.83
0.74
1977
 
9,693,202
0.302
32,122,223
147.2
5.44
0.74
1978
 
11,379,017
0.323
35,255,351
161.6
9.75
0.77
1979
 
12,314,944
0.351
35,042,381
160.6
-0.60
0.75
1980
 
12,646,768
0.389
32,487,587
148.9
-7.29
0.71
1981
 
14,043,616
0.424
33,110,022
151.7
1.92
0.72
1982
 
14,288,510
0.448
31,914,655
146.3
-3.61
0.70
1983
 
15,236,618
0.467
32,643,367
149.6
2.28
0.70
1984
 
17,306,577
0.484
35,728,601
163.7
9.45
0.71
1985
 
18,299,949
0.501
36,506,442
167.3
2.18
0.70
1986
 
19,338,326
0.512
37,756,157
173.0
3.42
0.69
1987
 
20,528,738
0.528
38,878,713
178.2
2.97
0.69
1988
 
22,263,586
0.549
40,578,850
186.0
4.37
0.68
1989
 
23,477,246
0.573
41,000,412
187.9
1.04
0.68
1990
 
24,803,416
0.598
41,494,632
190.2
1.21
0.67
1991
 
26,368,021
0.618
42,684,659
195.6
2.87
0.70
1992
 
28,994,227
0.634
45,717,797
209.5
7.11
0.71
1993
 
30,450,359
0.650
46,846,706
214.7
2.47
0.72
1994
 
32,533,069
0.664
49,028,074
224.7
4.66
0.73
1995
 
34,304,647
0.678
50,631,176
232.0
3.27
0.73
1996
 
36,182,943
0.692
52,285,223
239.6
3.27
0.73
1997
 
37,887,016
0.704
53,811,434
246.6
2.92
0.72
1998
 
40,410,036
0.710
56,942,010
260.9
5.82
0.71
1999
 
42,655,351
0.720
59,242,720
271.5
4.04
0.70
2000
 
44,708,938
0.738
60,563,163
277.5
2.23
0.68
2001
 
46,778,228
0.753
62,120,831
284.7
2.57
0.68
2002
 
47,831,689
0.763
62,696,372
287.3
0.93
0.68
2003
 
51,021,257
0.779
65,500,882
300.2
4.47
0.70
2004
 
54,285,999
0.798
68,004,559
311.6
3.82
0.71
2005
 
56,138,078
0.821
68,355,204
313.2
0.52
0.70
2006
 
58,320,337
0.844
69,067,192
316.5
1.04
0.68
2007
 
60,583,022
0.866
69,951,646
320.6
1.28
0.68
2008
 
60,809,083
0.892
68,194,553
312.5
-2.51
0.67
2009
 
59,361,596
0.889
66,757,679
305.9
-2.11
0.68
2010
 
61,168,363
0.905
67,578,897
309.7
1.23
0.68
2011
 
63,572,664
0.928
68,502,073
313.9
1.37
0.67
2012
 
66,664,113
0.945
70,518,663
323.2
2.94
0.68
2013
 
69,310,566
0.958
72,363,586
331.6
2.62
0.68
2014
 
71,155,917
0.971
73,265,223
335.7
1.25
0.67
2015
 
72,094,117
0.973
74,095,435
339.6
1.13
0.65
2016
 
72,921,701
0.983
74,194,885
340.0
0.13
0.64
2017
 
75,963,666
1.000
75,963,666
348.1
2.38
0.64
2018
 
77,996,409
1.020
76,431,849
350.3
0.62
0.63
2019
 
80,921,243
1.035
78,174,957
358.2
2.28
0.62
2020
 
83,551,099
1.046
79,850,049
365.9
2.14
0.63
2021
 
91,437,454
1.090
83,886,803
384.4
5.06
0.64
2022
 
97,523,812
1.160
84,041,099
385.1
0.18
0.64
Source: Calculations by the Arkansas Regional Economic Analysis Project (AR-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PSN
 
   

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 Industry Earnings, 1969-2022
 
1969
 
653,665,000
0.189
3,461,658,635
100.0
N
1970
 
693,352,000
0.198
3,507,801,275
101.3
1.33
1971
 
742,094,000
0.206
3,601,523,902
104.0
2.67
1972
 
819,646,000
0.213
3,846,658,532
111.1
6.81
1973
 
918,964,000
0.225
4,092,469,383
118.2
6.39
1974
 
993,909,000
0.248
4,008,829,105
115.8
-2.04
1975
 
1,059,492,000
0.269
3,944,497,394
113.9
-1.60
1976
 
1,173,271,000
0.283
4,141,005,188
119.6
4.98
1977
 
1,303,767,000
0.302
4,320,542,816
124.8
4.34
1978
 
1,476,080,000
0.323
4,573,305,242
132.1
5.85
1979
 
1,648,363,000
0.351
4,690,444,754
135.5
2.56
1980
 
1,784,597,000
0.389
4,584,353,165
132.4
-2.26
1981
 
1,961,173,000
0.424
4,623,772,250
133.6
0.86
1982
 
2,053,729,000
0.448
4,587,185,902
132.5
-0.79
1983
 
2,188,018,000
0.467
4,687,672,466
135.4
2.19
1984
 
2,432,402,000
0.484
5,021,577,654
145.1
7.12
1985
 
2,615,791,000
0.501
5,218,223,348
150.7
3.92
1986
 
2,786,901,000
0.512
5,441,146,840
157.2
4.27
1987
 
2,996,000,000
0.528
5,674,027,499
163.9
4.28
1988
 
3,259,979,000
0.549
5,941,819,010
171.6
4.72
1989
 
3,467,027,000
0.573
6,054,778,994
174.9
1.90
1990
 
3,679,460,000
0.598
6,155,516,520
177.8
1.66
1991
 
3,789,428,000
0.618
6,134,341,309
177.2
-0.34
1992
 
4,059,023,000
0.634
6,400,225,481
184.9
4.33
1993
 
4,237,437,000
0.650
6,519,133,846
188.3
1.86
1994
 
4,456,948,000
0.664
6,716,721,924
194.0
3.03
1995
 
4,674,849,000
0.678
6,899,738,761
199.3
2.72
1996
 
4,956,180,000
0.692
7,161,799,344
206.9
3.80
1997
 
5,288,047,000
0.704
7,510,683,597
217.0
4.87
1998
 
5,707,014,000
0.710
8,041,785,619
232.3
7.07
1999
 
6,098,042,000
0.720
8,469,385,147
244.7
5.32
2000
 
6,598,743,000
0.738
8,938,721,519
258.2
5.54
2001
 
6,865,291,000
0.753
9,117,010,172
263.4
1.99
2002
 
7,001,002,000
0.763
9,176,707,606
265.1
0.65
2003
 
7,243,377,000
0.779
9,299,017,896
268.6
1.33
2004
 
7,674,785,000
0.798
9,614,272,113
277.7
3.39
2005
 
8,039,238,000
0.821
9,788,788,097
282.8
1.82
2006
 
8,519,349,000
0.844
10,089,233,775
291.5
3.07
2007
 
8,866,261,000
0.866
10,237,349,175
295.7
1.47
2008
 
9,014,085,000
0.892
10,108,876,304
292.0
-1.25
2009
 
8,688,913,000
0.889
9,771,497,172
282.3
-3.34
2010
 
9,023,916,000
0.905
9,969,635,637
288.0
2.03
2011
 
9,444,387,000
0.928
10,176,702,513
294.0
2.08
2012
 
9,854,834,000
0.945
10,424,645,101
301.1
2.44
2013
 
10,180,570,000
0.958
10,629,007,841
307.0
1.96
2014
 
10,613,874,000
0.971
10,928,505,678
315.7
2.82
2015
 
11,039,821,000
0.973
11,346,284,134
327.8
3.82
2016
 
11,311,477,000
0.983
11,508,970,941
332.5
1.43
2017
 
11,848,205,000
1.000
11,848,205,000
342.3
2.95
2018
 
12,438,590,000
1.020
12,189,079,542
352.1
2.88
2019
 
12,989,097,000
1.035
12,548,276,062
362.5
2.95
2020
 
13,158,025,000
1.046
12,575,166,053
363.3
0.21
2021
 
14,278,043,000
1.090
13,099,001,844
378.4
4.17
2022
 
15,207,952,000
1.160
13,105,445,395
378.6
0.05
Source: Calculations by the Arkansas Regional Economic Analysis Project (AR-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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