Washington County vs. Arkansas
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Washington County vs. Arkansas
Washington County:
2022 TPI = $12,491,671K
2022 Percent of State = 7.79%
Arkansas:
2022 TPI = $160,254,175K
2022 Percent of U.S. = 0.73%
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 Washington 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 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 received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, 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. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters.
Washington County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Washington County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Washington County's annual total personal income 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 Washington County over time.
When measured in current dollars, Washington County's total personal income increased 5,726.88%, from $214M in 1970 to $12,492M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 892.51%, from $1,085M in 1970 to $10,765M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Washington County's and Arkansas' annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Washington County's real total personal income rose from $1,084M in 1969 to $10,765M in 2022, for a net gain of $9,681M, or 893.42%. In comparison, Arkansas' real total personal income increased from $27,160M in 1969 to $138,099M in 2022, for a net advance of $110,939M, or 408.47%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Washington 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.
Washington County's overall real total personal income growth was 893.42% over 1969-2022 outpaced Arkansas' increase of 408.47%, and outpaced the United States' increase of 348.76%.
Total Personal Income as a Percent of the Arkansas Total: 1969-2022
Total Personal Income as a Percent of the Arkansas Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of Washington 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, Washington County's total personal income comprised 3.99% of Arkansas' total personal income, while in 2022 it totaled 7.79% thereby yielding a +3.81% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+3.81%
=
7.79%
-
3.99%
 
   
Washington County Real Total Personal Income:
Annual Percent Change, 1970-2022
Washington County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Washington County's real total personal income 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 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, Washington County's real total personal income grew at an annual rate of 4.50% over 1970-2022. The county posted its highest growth in 1972 (12.65%) and posted its lowest growth in 1974 (-6.29%). In 2022, Washington County's real total personal income declined by -4.52%
Washington County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Washington County Real Total Personal Income:
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 depicts the annual percent change in Washington County's real total personal income 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, Washington County's annual real total personal income growth rate averaged 5.94%. It averaged 4.84% in the 1980s, 4.24% in the 1990s, 3.33% in the 2000s, 4.14% throughout the 2010s, 4.51% 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 7.
Figure 7 compares the decade average growth rates for Washington County noted in the previous graph with the corresponding decade averages for Arkansas and the nation. As the chart reveals, Washington County's average annual real total personal income growth outgained Arkansas' average throughout the 1970s (5.94% vs. 5.42%), outpaced Arkansas' average during the 1980s (4.84% vs. 2.26%), surpassed Arkansas' average in the 1990s (4.24% vs. 3.50%), topped Arkansas' average in the 2000s (3.33% vs. 2.45%), outpaced Arkansas' average throughout the 2010s (4.14% vs. 2.20%), and outperformed Arkansas' average over the 3 year period of the current decade, 2020-2022 (4.51% vs. 2.95%).
Finally, relative to nationwide real total personal income growth trends, Washington County outperformed the nation during the 1970s (5.94% vs. 3.50%), registered above the nation during the 1980s (4.84% vs. 3.16%), outgained the nation during the 1990s (4.24% vs. 3.27%), led the nation throughout the 2000s (3.33% vs. 2.06%), topped the nation over the 2010s (4.14% vs. 2.72%), and outpaced the nation over 2020-2022 (4.51% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
4.50
5.94
4.84
4.24
3.33
4.14
4.51
-4.52
 
3.15
5.42
2.26
3.50
2.45
2.20
2.95
-3.73
 
2.89
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.

   
 
Washington County:
Total Personal Income, 1969-2022
 
1969
 
204,616
0.189
1,083,599
100.0
N
3.99
1970
 
214,380
0.198
1,084,590
100.1
0.09
3.81
1971
 
243,375
0.206
1,181,145
109.0
8.90
3.89
1972
 
283,523
0.213
1,330,594
122.8
12.65
4.01
1973
 
334,811
0.225
1,491,031
137.6
12.06
4.00
1974
 
346,437
0.248
1,397,318
129.0
-6.29
3.70
1975
 
418,274
0.269
1,557,238
143.7
11.44
4.06
1976
 
467,497
0.283
1,650,009
152.3
5.96
4.11
1977
 
527,055
0.302
1,746,603
161.2
5.85
4.16
1978
 
604,735
0.323
1,873,637
172.9
7.27
4.12
1979
 
667,961
0.351
1,900,694
175.4
1.44
4.15
1980
 
739,956
0.389
1,900,832
175.4
0.01
4.25
1981
 
836,991
0.424
1,973,337
182.1
3.81
4.25
1982
 
895,468
0.448
2,000,107
184.6
1.36
4.33
1983
 
978,747
0.467
2,096,896
193.5
4.84
4.46
1984
 
1,130,325
0.484
2,333,502
215.3
11.28
4.62
1985
 
1,241,568
0.501
2,476,795
228.6
6.14
4.78
1986
 
1,365,114
0.512
2,665,249
246.0
7.61
5.00
1987
 
1,440,932
0.528
2,728,935
251.8
2.39
5.08
1988
 
1,562,768
0.549
2,848,388
262.9
4.38
5.13
1989
 
1,738,549
0.573
3,036,183
280.2
6.59
5.32
1990
 
1,832,209
0.598
3,065,176
282.9
0.95
5.32
1991
 
1,939,139
0.618
3,139,086
289.7
2.41
5.31
1992
 
2,143,554
0.634
3,379,934
311.9
7.67
5.40
1993
 
2,298,362
0.650
3,535,942
326.3
4.62
5.52
1994
 
2,483,933
0.664
3,743,343
345.5
5.87
5.61
1995
 
2,681,186
0.678
3,957,236
365.2
5.71
5.69
1996
 
2,798,394
0.692
4,043,747
373.2
2.19
5.60
1997
 
2,932,850
0.704
4,165,566
384.4
3.01
5.59
1998
 
3,125,149
0.710
4,403,665
406.4
5.72
5.61
1999
 
3,304,980
0.720
4,590,186
423.6
4.24
5.71
2000
 
3,517,729
0.738
4,765,150
439.8
3.81
5.78
2001
 
3,671,941
0.753
4,876,286
450.0
2.33
5.72
2002
 
3,897,588
0.763
5,108,844
471.5
4.77
5.93
2003
 
4,154,152
0.779
5,333,083
492.2
4.39
5.96
2004
 
4,685,207
0.798
5,869,201
541.6
10.05
6.31
2005
 
5,071,802
0.821
6,175,560
569.9
5.22
6.50
2006
 
5,458,799
0.844
6,464,707
596.6
4.68
6.59
2007
 
5,690,760
0.866
6,570,785
606.4
1.64
6.44
2008
 
5,758,528
0.892
6,457,921
596.0
-1.72
6.23
2009
 
5,634,267
0.889
6,336,261
584.7
-1.88
6.19
2010
 
5,933,366
0.905
6,555,191
604.9
3.46
6.30
2011
 
6,301,208
0.928
6,789,802
626.6
3.58
6.27
2012
 
6,826,248
0.945
7,220,945
666.4
6.35
6.38
2013
 
7,160,755
0.958
7,476,175
689.9
3.53
6.68
2014
 
7,715,793
0.971
7,944,516
733.2
6.26
6.82
2015
 
8,249,870
0.973
8,478,885
782.5
6.73
7.07
2016
 
8,584,426
0.983
8,734,307
806.0
3.01
7.17
2017
 
9,065,983
1.000
9,065,983
836.7
3.80
7.32
2018
 
9,380,610
1.020
9,192,441
848.3
1.39
7.27
2019
 
9,824,002
1.035
9,490,597
875.8
3.24
7.47
2020
 
11,075,145
1.046
10,584,551
976.8
11.53
7.79
2021
 
12,289,180
1.090
11,274,374
1,040.5
6.52
7.86
2022
 
12,491,671
1.160
10,764,692
993.4
-4.52
7.79
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_300_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 Personal Income, 1969-2022
 
1969
 
5,128,531
0.189
27,159,514
100.0
N
0.65
1970
 
5,626,520
0.198
28,465,648
104.8
4.81
0.66
1971
 
6,263,108
0.206
30,396,059
111.9
6.78
0.68
1972
 
7,071,222
0.213
33,185,761
122.2
9.18
0.70
1973
 
8,376,080
0.225
37,301,625
137.3
12.40
0.74
1974
 
9,353,548
0.248
37,726,568
138.9
1.14
0.75
1975
 
10,292,084
0.269
38,317,513
141.1
1.57
0.76
1976
 
11,378,923
0.283
40,161,377
147.9
4.81
0.76
1977
 
12,661,751
0.302
41,959,673
154.5
4.48
0.77
1978
 
14,668,793
0.323
45,447,989
167.3
8.31
0.79
1979
 
16,089,121
0.351
45,781,866
168.6
0.73
0.78
1980
 
17,396,286
0.389
44,688,363
164.5
-2.39
0.75
1981
 
19,702,982
0.424
46,452,863
171.0
3.95
0.76
1982
 
20,696,485
0.448
46,227,435
170.2
-0.49
0.75
1983
 
21,946,842
0.467
47,019,543
173.1
1.71
0.74
1984
 
24,446,529
0.484
50,468,691
185.8
7.34
0.75
1985
 
25,982,293
0.501
51,831,896
190.8
2.70
0.74
1986
 
27,302,960
0.512
53,306,312
196.3
2.84
0.73
1987
 
28,356,851
0.528
53,704,123
197.7
0.75
0.72
1988
 
30,489,773
0.549
55,572,356
204.6
3.48
0.71
1989
 
32,694,750
0.573
57,097,763
210.2
2.74
0.71
1990
 
34,456,200
0.598
57,643,162
212.2
0.96
0.70
1991
 
36,494,274
0.618
59,077,078
217.5
2.49
0.72
1992
 
39,697,534
0.634
62,594,661
230.5
5.95
0.73
1993
 
41,622,845
0.650
64,035,146
235.8
2.30
0.74
1994
 
44,252,233
0.664
66,689,121
245.5
4.14
0.75
1995
 
47,112,248
0.678
69,534,268
256.0
4.27
0.75
1996
 
49,969,528
0.692
72,207,170
265.9
3.84
0.75
1997
 
52,480,597
0.704
74,538,891
274.4
3.23
0.74
1998
 
55,686,342
0.710
78,467,939
288.9
5.27
0.73
1999
 
57,922,066
0.720
80,446,197
296.2
2.52
0.73
2000
 
60,886,171
0.738
82,477,000
303.7
2.52
0.71
2001
 
64,168,556
0.753
85,214,942
313.8
3.32
0.71
2002
 
65,698,816
0.763
86,116,077
317.1
1.06
0.72
2003
 
69,656,369
0.779
89,424,563
329.3
3.84
0.74
2004
 
74,308,675
0.798
93,087,145
342.7
4.10
0.74
2005
 
77,990,351
0.821
94,963,107
349.6
2.02
0.74
2006
 
82,891,649
0.844
98,166,330
361.4
3.37
0.73
2007
 
88,410,652
0.866
102,082,571
375.9
3.99
0.74
2008
 
92,435,635
0.892
103,662,257
381.7
1.55
0.74
2009
 
90,992,265
0.889
102,329,332
376.8
-1.29
0.75
2010
 
94,126,992
0.905
103,991,639
382.9
1.62
0.75
2011
 
100,449,543
0.928
108,238,377
398.5
4.08
0.76
2012
 
107,007,376
0.945
113,194,592
416.8
4.58
0.77
2013
 
107,209,282
0.958
111,931,680
412.1
-1.12
0.76
2014
 
113,171,547
0.971
116,526,340
429.0
4.10
0.77
2015
 
116,632,432
0.973
119,870,124
441.4
2.87
0.75
2016
 
119,758,840
0.983
121,849,782
448.6
1.65
0.75
2017
 
123,825,419
1.000
123,825,419
455.9
1.62
0.74
2018
 
128,970,824
1.020
126,383,749
465.3
2.07
0.74
2019
 
131,439,239
1.035
126,978,485
467.5
0.47
0.72
2020
 
142,111,663
1.046
135,816,565
500.1
6.96
0.72
2021
 
156,361,458
1.090
143,449,563
528.2
5.62
0.73
2022
 
160,254,175
1.160
138,098,959
508.5
-3.73
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 2023
REAP_PI_CA1400_300_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 Personal Income, 1969-2022
 
1969
 
791,229,000
0.189
4,190,165,758
100.0
N
1970
 
855,525,000
0.198
4,328,265,709
103.3
3.30
1971
 
924,613,000
0.206
4,487,323,465
107.1
3.67
1972
 
1,016,408,000
0.213
4,770,076,966
113.8
6.30
1973
 
1,133,468,000
0.225
5,047,731,018
120.5
5.82
1974
 
1,244,912,000
0.248
5,021,223,733
119.8
-0.53
1975
 
1,362,505,000
0.269
5,072,617,275
121.1
1.02
1976
 
1,495,704,000
0.283
5,279,017,400
126.0
4.07
1977
 
1,651,632,000
0.302
5,473,329,799
130.6
3.68
1978
 
1,855,849,000
0.323
5,749,934,936
137.2
5.05
1979
 
2,073,296,000
0.351
5,899,598,782
140.8
2.60
1980
 
2,313,972,000
0.389
5,944,235,512
141.9
0.76
1981
 
2,590,995,000
0.424
6,108,676,176
145.8
2.77
1982
 
2,777,640,000
0.448
6,204,105,336
148.1
1.56
1983
 
2,969,333,000
0.467
6,361,584,112
151.8
2.54
1984
 
3,275,415,000
0.484
6,761,937,695
161.4
6.29
1985
 
3,508,482,000
0.501
6,999,046,441
167.0
3.51
1986
 
3,717,756,000
0.512
7,258,548,586
173.2
3.71
1987
 
3,931,800,000
0.528
7,446,308,852
177.7
2.59
1988
 
4,264,433,000
0.549
7,772,592,728
185.5
4.38
1989
 
4,605,107,000
0.573
8,042,309,775
191.9
3.47
1990
 
4,897,332,000
0.598
8,192,943,538
195.5
1.87
1991
 
5,072,291,000
0.618
8,211,045,100
196.0
0.22
1992
 
5,406,546,000
0.634
8,524,985,809
203.5
3.82
1993
 
5,643,648,000
0.650
8,682,535,385
207.2
1.85
1994
 
5,933,938,000
0.664
8,942,579,420
213.4
3.00
1995
 
6,278,125,000
0.678
9,266,058,093
221.1
3.62
1996
 
6,660,854,000
0.692
9,625,094,288
229.7
3.87
1997
 
7,068,422,000
0.704
10,039,373,926
239.6
4.30
1998
 
7,584,003,000
0.710
10,686,661,406
255.0
6.45
1999
 
7,978,449,000
0.720
11,081,025,264
264.5
3.69
2000
 
8,620,234,000
0.738
11,677,052,911
278.7
5.38
2001
 
8,990,104,000
0.753
11,938,732,039
284.9
2.24
2002
 
9,146,700,000
0.763
11,989,225,466
286.1
0.42
2003
 
9,474,684,000
0.779
12,163,560,736
290.3
1.45
2004
 
10,008,929,000
0.798
12,538,275,270
299.2
3.08
2005
 
10,540,800,000
0.821
12,834,755,927
306.3
2.36
2006
 
11,291,446,000
0.844
13,372,153,008
319.1
4.19
2007
 
11,925,044,000
0.866
13,769,145,681
328.6
2.97
2008
 
12,423,410,000
0.892
13,932,275,429
332.5
1.18
2009
 
12,058,253,000
0.889
13,560,635,845
323.6
-2.67
2010
 
12,547,501,000
0.905
13,862,497,514
330.8
2.23
2011
 
13,299,818,000
0.928
14,331,082,712
342.0
3.38
2012
 
13,905,749,000
0.945
14,709,785,897
351.1
2.64
2013
 
14,063,283,000
0.958
14,682,748,144
350.4
-0.18
2014
 
14,778,160,000
0.971
15,216,235,418
363.1
3.63
2015
 
15,467,113,000
0.973
15,896,476,839
379.4
4.47
2016
 
15,884,741,000
0.983
16,162,082,333
385.7
1.67
2017
 
16,658,962,000
1.000
16,658,962,000
397.6
3.07
2018
 
17,514,402,000
1.020
17,163,073,878
409.6
3.03
2019
 
18,343,601,000
1.035
17,721,060,157
422.9
3.25
2020
 
19,609,985,000
1.046
18,741,324,605
447.3
5.76
2021
 
21,392,812,000
1.090
19,626,252,970
468.4
4.72
2022
 
21,820,248,000
1.160
18,803,588,325
448.8
-4.19
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_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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