Clay County vs. Arkansas
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2017
Introduction
Clay County:
2017 TPI = $500,702K
2017 Percent of State = 0.4%
Arkansas:
2017 TPI = $123,313,411K
2017 Percent of State = 0.7%
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 county patterns of economic growth and change.
The following graphs highlight trends in the pattern of growth and change in the total personal income of Clay County and Arkansas 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 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.
Clay County Total Personal Income, 1969-2017
Current vs. Constant Dollars (Millions)
Clay County Total Personal Income, 1969-2017
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Clay County's annual total personal income over 1969-2017 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 Clay County over time.
When measured in current dollars, Clay County's total personal income increased 1,027.9%, from $44M in 1969 to $501M in 2017. When measured in constant 2012 dollars to adjust for inflation, it advanced 112.8%, from $222M in 1969 to $472M in 2017.
Real Total Personal Income, 1969-2017 (Millions)
Real Total Personal Income, 1969-2017 (Millions)
Figure 2.
Figure 2 tracks Clay County's and Arkansas' annual real total personal income for the period 1969-2017 to illustrate real total personal income patterns over time. During this 49-year period, Clay County's real total personal income rose from $222M in 1969 to $472M in 2017, for a net gain of $250M, or 112.8%. In comparison, Arkansas' real total personal income advanced from $25,629M in 1969 to $116,253M in 2017, for a net advance of $90,625M, or 353.6%.
Real Total Personal Income Indices (1969=100): 1969-2017
Real Total Personal Income Indices (1969=100): 1969-2017
Figure 3.
Figure 3 portrays Clay County's real total personal income 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 personal income in 1969 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1969 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.
Clay County's overall real total personal income growth was 112.8% over 1969-2017 trailed Arkansas' increase of 353.6%, and fell below the United States' increase of 301.2%.
Total Personal Income as a Percent of the Arkansas Total: 1969-2017
Total Personal Income as a Percent of the Arkansas Total: 1969-2017
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Clay County is to compare its individual percentage contributions to Arkansas' statewide total personal income over time, as shown in Figure 4. A rising share means a region's total personal income grew faster�or declined less�than Arkansas' total personal income, while a declining share shows it grew more slowly.
In 1969, Clay County's total personal income totaled 0.87% of Arkansas' total personal income, while in 2017 it comprised 0.41% thereby yielding a -0.46% share-shift.
   
 
Total Personal Income Share-Shift
2017 vs. 1969
 
Share-
Shift*
 
2017
vs.
1969
-0.46%
=
0.41%
-
0.87%
 
   
Clay County Real Total Personal Income:
Annual Percent Change, 1970-2017
Clay County Real Total Personal Income:
Annual Percent Change, 1970-2017
Figure 5.
Figure 5 shows the short-run pattern of Clay County's real total personal income growth by tracking the year-to-year percent change over 1970-2017. The average annual percent change for the entire 48-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, Clay County's real total personal income grew at an annual rate of 1.84% over 1970-2017. The county posted its highest growth in 1978 (24.01%) and recorded its lowest growth in 1979 (-15.21%). In 2017, Clay County's real total personal income grew by 3.37%
Clay County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2017
Clay County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2017
Figure 6.
Over the past four decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again illustrates the annual percent change in Clay County's real total personal income since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, and 2010-2017.
During the 1970s, Clay County's annual real total personal income growth rate averaged 5.00%. It averaged 0.55% in the 1980s, 2.31% in the 1990s, 1.12% during the 2000s, and -0.20% 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 7.
Figure 7 compares the decade average growth rates for Clay County noted in the previous graph with the corresponding decade averages for Arkansas and the nation. As the chart reveals, Clay County's average annual real total personal income growth lagged Arkansas' average in the 1970s (5.00% vs. 5.42%), recorded under Arkansas' average during the 1980s (0.55% vs. 2.29%), fell below Arkansas' average in the 1990s (2.31% vs. 3.46%), amounted to less than Arkansas' average throughout the 2000s (1.12% vs. 2.39%), and lagged Arkansas' average over the 8 year period of the last decade, 2010-2017 (-0.20% vs. 2.45%).
Finally, relative to nationwide real total personal income growth trends, Clay County outperformed the nation in the 1970s (5.00% vs. 3.48%), recorded underneath the nation throughout the 1980s (0.55% vs. 3.18%), fell under the nation over the 1990s (2.31% vs. 3.28%), lagged the nation throughout the 2000s (1.12% vs. 2.07%), and fell below the nation over 2010-2017 (-0.20% vs. 2.72%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
1.84
5.00
0.55
2.31
1.12
-0.20
3.37
 
3.23
5.42
2.29
3.46
2.39
2.45
2.03
 
2.95
3.48
3.18
3.28
2.07
2.72
2.56
 
   

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

   
 
Clay County:
Total Personal Income, 1969-2017
 
1969
 
44,393
0.200
221,799
100.0
N
0.87
1970
 
50,888
0.210
242,891
109.5
9.51
0.90
1971
 
53,436
0.218
244,659
110.3
0.73
0.85
1972
 
59,062
0.226
261,498
117.9
6.88
0.83
1973
 
74,639
0.238
313,583
141.4
19.92
0.89
1974
 
89,255
0.263
339,631
153.1
8.31
0.95
1975
 
88,847
0.285
312,072
140.7
-8.11
0.86
1976
 
92,899
0.300
309,333
139.5
-0.88
0.82
1977
 
103,698
0.320
324,198
146.2
4.81
0.82
1978
 
137,540
0.342
402,034
181.3
24.01
0.94
1979
 
126,979
0.373
340,874
153.7
-15.21
0.79
1980
 
125,419
0.413
303,958
137.0
-10.83
0.72
1981
 
158,895
0.450
353,430
159.3
16.28
0.81
1982
 
157,226
0.475
331,309
149.4
-6.26
0.76
1983
 
155,451
0.495
314,207
141.7
-5.16
0.71
1984
 
176,970
0.513
344,682
155.4
9.70
0.72
1985
 
180,370
0.531
339,462
153.0
-1.51
0.69
1986
 
177,860
0.543
327,611
147.7
-3.49
0.65
1987
 
187,812
0.560
335,594
151.3
2.44
0.66
1988
 
211,929
0.582
364,446
164.3
8.60
0.69
1989
 
211,793
0.607
348,975
157.3
-4.25
0.65
1990
 
216,874
0.634
342,316
154.3
-1.91
0.63
1991
 
231,401
0.655
353,430
159.3
3.25
0.64
1992
 
255,626
0.672
380,294
171.5
7.60
0.64
1993
 
259,825
0.689
377,148
170.0
-0.83
0.62
1994
 
269,733
0.703
383,525
172.9
1.69
0.61
1995
 
281,301
0.718
391,724
176.6
2.14
0.60
1996
 
305,155
0.733
416,049
187.6
6.21
0.61
1997
 
315,222
0.746
422,419
190.5
1.53
0.60
1998
 
324,303
0.752
431,162
194.4
2.07
0.58
1999
 
333,535
0.763
436,919
197.0
1.34
0.58
2000
 
352,056
0.782
449,998
202.9
2.99
0.58
2001
 
347,661
0.797
436,004
196.6
-3.11
0.54
2002
 
338,505
0.808
418,999
188.9
-3.90
0.51
2003
 
389,205
0.824
472,577
213.1
12.79
0.56
2004
 
398,447
0.844
472,032
212.8
-0.12
0.54
2005
 
395,203
0.868
455,240
205.2
-3.56
0.51
2006
 
410,767
0.892
460,635
207.7
1.19
0.49
2007
 
436,524
0.914
477,399
215.2
3.64
0.49
2008
 
456,700
0.942
484,922
218.6
1.58
0.50
2009
 
455,083
0.941
483,647
218.1
-0.26
0.50
2010
 
452,057
0.957
472,344
213.0
-2.34
0.49
2011
 
460,636
0.981
469,409
211.6
-0.62
0.46
2012
 
485,891
1.000
485,891
219.1
3.51
0.46
2013
 
516,710
1.013
509,847
229.9
4.93
0.49
2014
 
472,678
1.029
459,500
207.2
-9.88
0.42
2015
 
459,419
1.031
445,493
200.9
-3.05
0.40
2016
 
475,988
1.042
456,649
205.9
2.50
0.40
2017
 
500,702
1.061
472,035
212.8
3.37
0.41
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 2018
REAP_PI_CA1400_300_PSN
 
   

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

   
 
Arkansas:
Total Personal Income, 1969-2017
 
1969
 
5,129,597
0.200
25,628,763
100.0
N
0.65
1970
 
5,635,770
0.210
26,899,766
105.0
4.96
0.66
1971
 
6,273,038
0.218
28,721,386
112.1
6.77
0.68
1972
 
7,082,421
0.226
31,357,571
122.4
9.18
0.70
1973
 
8,381,299
0.238
35,212,583
137.4
12.29
0.74
1974
 
9,361,505
0.263
35,622,165
139.0
1.16
0.75
1975
 
10,317,199
0.285
36,238,844
141.4
1.73
0.76
1976
 
11,388,677
0.300
37,921,807
148.0
4.64
0.76
1977
 
12,666,674
0.320
39,600,682
154.5
4.43
0.77
1978
 
14,682,928
0.342
42,918,734
167.5
8.38
0.79
1979
 
16,089,892
0.373
43,193,181
168.5
0.64
0.78
1980
 
17,371,177
0.413
42,099,697
164.3
-2.53
0.75
1981
 
19,657,239
0.450
43,723,562
170.6
3.86
0.76
1982
 
20,676,166
0.475
43,569,129
170.0
-0.35
0.75
1983
 
21,988,073
0.495
44,443,694
173.4
2.01
0.74
1984
 
24,474,975
0.513
47,669,546
186.0
7.26
0.75
1985
 
26,082,631
0.531
49,088,401
191.5
2.98
0.74
1986
 
27,399,821
0.543
50,469,370
196.9
2.81
0.74
1987
 
28,476,005
0.560
50,882,719
198.5
0.82
0.72
1988
 
30,546,100
0.582
52,528,933
205.0
3.24
0.72
1989
 
32,776,869
0.607
54,007,034
210.7
2.81
0.71
1990
 
34,487,482
0.634
54,435,296
212.4
0.79
0.71
1991
 
36,434,402
0.655
55,647,980
217.1
2.23
0.72
1992
 
39,744,696
0.672
59,128,055
230.7
6.25
0.74
1993
 
41,722,523
0.689
60,562,218
236.3
2.43
0.74
1994
 
44,297,617
0.703
62,985,379
245.8
4.00
0.75
1995
 
47,104,707
0.718
65,595,392
255.9
4.14
0.75
1996
 
50,012,919
0.733
68,187,657
266.1
3.95
0.75
1997
 
52,409,055
0.746
70,231,772
274.0
3.00
0.74
1998
 
55,647,128
0.752
73,983,099
288.7
5.34
0.73
1999
 
57,896,065
0.763
75,841,737
295.9
2.51
0.72
2000
 
61,029,036
0.782
78,007,332
304.4
2.86
0.71
2001
 
64,374,920
0.797
80,733,051
315.0
3.49
0.72
2002
 
65,878,184
0.808
81,543,507
318.2
1.00
0.72
2003
 
69,721,985
0.824
84,657,210
330.3
3.82
0.74
2004
 
74,158,872
0.844
87,854,512
342.8
3.78
0.74
2005
 
78,138,502
0.868
90,008,872
351.2
2.45
0.74
2006
 
83,020,846
0.892
93,099,834
363.3
3.43
0.73
2007
 
88,484,857
0.914
96,770,333
377.6
3.94
0.74
2008
 
91,798,185
0.942
97,470,997
380.3
0.72
0.74
2009
 
90,242,461
0.941
95,906,711
374.2
-1.60
0.75
2010
 
93,103,196
0.957
97,281,434
379.6
1.43
0.74
2011
 
99,328,677
0.981
101,220,488
394.9
4.05
0.75
2012
 
106,536,954
1.000
106,536,954
415.7
5.25
0.76
2013
 
106,429,638
1.013
105,016,121
409.8
-1.43
0.75
2014
 
112,619,155
1.029
109,479,289
427.2
4.25
0.75
2015
 
116,248,596
1.031
112,724,818
439.8
2.96
0.74
2016
 
118,769,649
1.042
113,944,116
444.6
1.08
0.74
2017
 
123,313,411
1.061
116,253,345
453.6
2.03
0.73
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 2018
REAP_PI_CA1400_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, 1969-2017
 
1969
 
791,150,000
0.200
3,952,785,411
100.0
N
1970
 
855,078,000
0.210
4,081,323,087
103.3
3.25
1971
 
923,964,000
0.218
4,230,410,696
107.0
3.65
1972
 
1,015,526,000
0.226
4,496,263,172
113.7
6.28
1973
 
1,131,213,000
0.238
4,752,596,421
120.2
5.70
1974
 
1,242,433,000
0.263
4,727,675,038
119.6
-0.52
1975
 
1,359,998,000
0.285
4,776,951,177
120.9
1.04
1976
 
1,491,506,000
0.300
4,966,389,185
125.6
3.97
1977
 
1,646,968,000
0.320
5,149,027,700
130.3
3.68
1978
 
1,851,867,000
0.342
5,413,074,742
136.9
5.13
1979
 
2,068,806,000
0.373
5,553,692,518
140.5
2.60
1980
 
2,307,005,000
0.413
5,591,112,888
141.4
0.67
1981
 
2,584,340,000
0.450
5,748,342,898
145.4
2.81
1982
 
2,767,657,000
0.475
5,832,048,635
147.5
1.46
1983
 
2,957,901,000
0.495
5,978,697,902
151.3
2.51
1984
 
3,268,535,000
0.513
6,366,077,167
161.1
6.48
1985
 
3,501,927,000
0.531
6,590,746,038
166.7
3.53
1986
 
3,712,243,000
0.543
6,837,802,542
173.0
3.75
1987
 
3,940,859,000
0.560
7,041,775,070
178.1
2.98
1988
 
4,260,753,000
0.582
7,327,050,266
185.4
4.05
1989
 
4,603,969,000
0.607
7,586,042,182
191.9
3.53
1990
 
4,890,453,000
0.634
7,719,127,141
195.3
1.75
1991
 
5,055,766,000
0.655
7,721,909,795
195.4
0.04
1992
 
5,402,109,000
0.672
8,036,699,991
203.3
4.08
1993
 
5,639,780,000
0.689
8,186,407,711
207.1
1.86
1994
 
5,930,316,000
0.703
8,432,128,537
213.3
3.00
1995
 
6,275,761,000
0.718
8,739,275,320
221.1
3.64
1996
 
6,661,697,000
0.733
9,082,563,466
229.8
3.93
1997
 
7,075,132,000
0.746
9,481,168,005
239.9
4.39
1998
 
7,588,703,000
0.752
10,089,213,731
255.2
6.41
1999
 
7,988,183,000
0.763
10,464,228,824
264.7
3.72
2000
 
8,634,847,000
0.782
11,037,063,974
279.2
5.47
2001
 
9,001,839,000
0.797
11,289,271,113
285.6
2.29
2002
 
9,155,663,000
0.808
11,332,808,922
286.7
0.39
2003
 
9,480,901,000
0.824
11,511,815,488
291.2
1.58
2004
 
10,028,781,000
0.844
11,880,893,485
300.6
3.21
2005
 
10,593,946,000
0.868
12,203,319,818
308.7
2.71
2006
 
11,372,589,000
0.892
12,753,256,555
322.6
4.51
2007
 
12,002,204,000
0.914
13,126,057,000
332.1
2.92
2008
 
12,438,527,000
0.942
13,207,185,177
334.1
0.62
2009
 
12,051,307,000
0.941
12,807,731,630
324.0
-3.02
2010
 
12,541,995,000
0.957
13,104,848,232
331.5
2.32
2011
 
13,315,478,000
0.981
13,569,084,183
343.3
3.54
2012
 
13,998,383,000
1.000
13,998,383,000
354.1
3.16
2013
 
14,175,503,000
1.013
13,987,234,819
353.9
-0.08
2014
 
14,983,140,000
1.029
14,565,404,207
368.5
4.13
2015
 
15,711,634,000
1.031
15,235,376,142
385.4
4.60
2016
 
16,115,630,000
1.042
15,460,862,474
391.1
1.48
2017
 
16,820,250,000
1.061
15,857,239,825
401.2
2.56
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 2018
REAP_PI_CA1400_300_PN
 
   
Copyright © 2018. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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