Iron County vs. Missouri
Comparative Trends Analysis:
Average Earnings Per Job Growth and Change, 1969-2022
Introduction
Iron County vs. Missouri
Iron County:
2022 Avg. Earnings = $46,452
2022 Percent of State = 74.29%
Missouri:
2022 Avg. Earnings = $62,528
The United States economy has generated an impressive number of jobs since the 1970s. The contrast between the nation's vigorous employment growth and the modest performance of other major industrial countries is striking. Despite this rosy track record, the real (inflation adjusted) wages and salaries of many workers have stagnated or slipped in recent years. This development has provoked concerns about the quality of new jobs. Structural shifts in the composition of employment--from high-wage goods-producing to low-wage services-related sectors--is the culprit most often cited for the deteriorating quality of jobs.
Regions vary greatly in the make-up of their labor force, in their industry composition of employment, and their economic experience. Reviewing and examining recent developments in average earnings per job in Iron County with comparisons to Missouri and the nation is an important first step in understanding the economic forces at play in Iron County.
Discussion: Average Annual Earnings Per Job are computed by dividing BEA total industry earnings estimates by the BEA total full- and part-time jobs estimates. No convenient or adequate means exist at the county or regional level for converting the job estimates to a full-time equivalent measure. So, interpret the average earnings per job estimates with caution in consideration of the following issues:
Average earnings per job within industries involving more part-time work is lower than industries involving more full-time work, although there could be little difference in the underlying wage of full-time workers. Such differences could also prevail between counties and regions. An increase in the proportion of part-time jobs over time may erode average earnings per job estimates, although full-time earnings per worker may have remained unchanged.
As with per capita income, average earnings per job may be subject to extreme short-run variation, especially in smaller counties. Major construction projects relating to building dams, nuclear power plants, and private plant construction projects have caused extreme fluctuations in many smaller counties. Such changes typify both small and large agriculture-dependent counties owing to the extreme annual variations in farm incomes. Also, Since average earnings per job are just a simple average, it does not account for variations in the distribution of earnings among high- vs. low-wage jobs.
Iron County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Iron County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Iron County's annual average earnings per job 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 Iron County over time.
When measured in current dollars, Iron County's average earnings per job increased 582.30%, from $6,808 in 1970 to $46,452 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 16.22%, from $34,444 in 1970 to $40,030 in 2022.
Real Average Earnings Per Job, 1969-2022
Real Average Earnings Per Job, 1969-2022
Figure 2.
Figure 2 traces Iron County's and Missouri's annual real average earnings per job for the period 1969-2022 to illustrate real average earnings per job patterns over time. During this 54-year period, Iron County's real average earnings per job rose from $33,477 in 1969 to $40,030 in 2022, for a net gain of $6,553, or 19.58%. In comparison, Missouri's real average earnings per job advanced from $35,161 in 1969 to $53,883 in 2022, for a net gain of $18,722, or 53.25%.
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Iron County's real average earnings per job growth in a broader context by offering direct comparisons across time with Missouri, the United States. The growth indices shown here express each region's real average earnings per job in 1969 as a base figure of 100, and the real average earnings per jobs in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real average earnings per job growth between regions that may differ vastly in size.
Iron County's overall real average earnings per job growth was 19.58% over 1969-2022 trailed Missouri's increase of 53.25%, and fell below the United States' increase of 62.26%.
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 depicts the trends for average earnings per job relative to the national average by tracing Iron County and Missouri average earnings per job as a percent of the national average over 1969-2022.
In 1969, Iron County's average earnings per job amounted to 88.05% of the national average; in 2022, it approximated 64.89%. Similarly, in 1969, Missouri's average earnings per job totaled 92.48% of the national average; in 2022, it consisted of 87.35%.
Iron County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Iron County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Iron County's real average earnings per job 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, Iron County's real average earnings per job grew at an annual rate of 0.41% over 1970-2022. The county recorded its highest growth in 1992 (8.16%) and recorded its lowest growth in 1987 (-9.47%). In 2022, Iron County's real average earnings per job declined by -2.45%
Iron County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
Iron County Real Average Earnings Per Job:
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 Iron County's real average earnings per job since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Iron County's annual real average earnings per job growth rate averaged 2.17%. It averaged -1.96% during the 1980s, 1.44% in the 1990s, 0.41% during the 2000s, 0.33% during the 2010s, -0.77% thus far this decade (2020-2022).
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Iron County noted in the previous graph with the corresponding decade averages for Missouri and the nation. As the chart reveals, Iron County's average annual real average earnings per job growth registered above Missouri's average during the 1970s (2.17% vs. 0.95%), amounted to less than Missouri's average throughout the 1980s (-1.96% vs. 0.43%), outpaced Missouri's average in the 1990s (1.44% vs. 1.40%), fell below Missouri's average in the 2000s (0.41% vs. 1.00%), amounted to less than Missouri's average in the 2010s (0.33% vs. 0.63%), and lagged Missouri's average over the 3 year period of the current decade, 2020-2022 (-0.77% vs. -0.06%).
Finally, relative to nationwide real average earnings per job growth trends, Iron County recorded above the nation during the 1970s (2.17% vs. 0.89%), fell below the nation throughout the 1980s (-1.96% vs. 0.71%), posted below the nation during the 1990s (1.44% vs. 1.68%), trailed the nation in the 2000s (0.41% vs. 0.72%), fell below the nation throughout the 2010s (0.33% vs. 1.01%), and trailed the nation over 2020-2022 (-0.77% vs. -0.24%).
   
 
Real* Average Earnings Per Job Growth:
Average Annual Percent Change
 
 
 
0.41
2.17
-1.96
1.44
0.41
0.33
-0.77
-2.45
 
0.83
0.95
0.43
1.40
1.00
0.63
-0.06
-3.05
 
0.93
0.89
0.71
1.68
0.72
1.01
-0.24
-4.51
 
   

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

   
 
Iron County:
Average Earnings Per Job, 1969-2022
 
1969
 
6,321
0.189
33,477
100.0
N
95.21
88.05
1970
 
6,808
0.198
34,444
102.9
2.89
95.55
89.63
1971
 
6,997
0.206
33,960
101.4
-1.40
91.87
86.36
1972
 
7,516
0.213
35,272
105.4
3.86
92.25
86.48
1973
 
8,081
0.225
35,987
107.5
2.03
92.53
86.55
1974
 
8,881
0.248
35,819
107.0
-0.47
98.01
89.45
1975
 
9,602
0.269
35,749
106.8
-0.20
97.54
89.63
1976
 
10,881
0.283
38,405
114.7
7.43
103.07
94.22
1977
 
11,695
0.302
38,758
115.8
0.92
101.51
94.23
1978
 
12,556
0.323
38,902
116.2
0.37
100.72
93.30
1979
 
14,534
0.351
41,357
123.5
6.31
107.37
99.76
1980
 
16,480
0.389
42,334
126.5
2.36
115.92
105.26
1981
 
17,683
0.424
41,691
124.5
-1.52
113.58
103.61
1982
 
18,814
0.448
42,023
125.5
0.80
115.70
104.58
1983
 
19,568
0.467
41,922
125.2
-0.24
115.04
103.42
1984
 
19,299
0.484
39,842
119.0
-4.96
105.60
95.63
1985
 
19,365
0.501
38,631
115.4
-3.04
100.75
91.65
1986
 
19,861
0.512
38,777
115.8
0.38
100.00
89.96
1987
 
18,537
0.528
35,106
104.9
-9.47
88.50
80.15
1988
 
19,431
0.549
35,415
105.8
0.88
88.46
79.61
1989
 
19,301
0.573
33,706
100.7
-4.82
84.08
75.81
1990
 
19,908
0.598
33,305
99.5
-1.19
84.15
74.85
1991
 
20,508
0.618
33,199
99.2
-0.32
83.53
74.47
1992
 
22,772
0.634
35,906
107.3
8.16
87.26
77.51
1993
 
21,947
0.650
33,765
100.9
-5.96
83.09
72.91
1994
 
23,316
0.664
35,137
105.0
4.06
84.85
75.43
1995
 
24,266
0.678
35,815
107.0
1.93
85.95
76.78
1996
 
25,485
0.692
36,826
110.0
2.82
86.55
77.67
1997
 
26,187
0.704
37,194
111.1
1.00
85.53
76.53
1998
 
26,868
0.710
37,860
113.1
1.79
84.82
74.61
1999
 
27,836
0.720
38,661
115.5
2.12
84.05
73.73
2000
 
27,434
0.738
37,163
111.0
-3.87
78.80
68.75
2001
 
26,181
0.753
34,768
103.9
-6.44
72.68
63.12
2002
 
26,693
0.763
34,989
104.5
0.63
71.66
62.95
2003
 
27,192
0.779
34,909
104.3
-0.23
70.84
62.29
2004
 
28,530
0.798
35,739
106.8
2.38
71.12
62.76
2005
 
29,074
0.821
35,402
105.8
-0.94
71.34
62.33
2006
 
32,056
0.844
37,963
113.4
7.24
76.11
66.17
2007
 
34,902
0.866
40,299
120.4
6.15
81.41
70.68
2008
 
34,490
0.892
38,679
115.5
-4.02
77.07
68.57
2009
 
35,512
0.889
39,936
119.3
3.25
78.64
70.97
2010
 
37,379
0.905
41,296
123.4
3.41
80.42
71.62
2011
 
40,619
0.928
43,768
130.7
5.99
86.17
75.73
2012
 
39,779
0.945
42,079
125.7
-3.86
82.38
72.25
2013
 
40,619
0.958
42,408
126.7
0.78
81.94
72.75
2014
 
40,767
0.971
41,975
125.4
-1.02
81.22
71.53
2015
 
39,844
0.973
40,950
122.3
-2.44
78.51
68.69
2016
 
37,715
0.983
38,373
114.6
-6.29
73.48
64.49
2017
 
40,364
1.000
40,364
120.6
5.19
76.72
66.91
2018
 
41,846
1.020
41,007
122.5
1.59
77.88
67.38
2019
 
42,432
1.035
40,992
122.5
-0.04
75.86
65.87
2020
 
43,734
1.046
41,796
124.9
1.96
74.57
64.91
2021
 
44,730
1.090
41,036
122.6
-1.82
73.84
63.52
2022
 
46,452
1.160
40,030
119.6
-2.45
74.29
64.89
Source: Calculations by the Missouri Regional Economic Analysis Project (MO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PSN
 
   

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

   
 
Missouri:
Average Earnings Per Job, 1969-2022
 
1969
 
6,639
0.189
35,161
100.0
N
92.48
1970
 
7,125
0.198
36,048
102.5
2.52
93.80
1971
 
7,617
0.206
36,966
105.1
2.55
94.00
1972
 
8,148
0.213
38,237
108.7
3.44
93.75
1973
 
8,733
0.225
38,891
110.6
1.71
93.54
1974
 
9,061
0.248
36,547
103.9
-6.03
91.27
1975
 
9,844
0.269
36,649
104.2
0.28
91.89
1976
 
10,558
0.283
37,262
106.0
1.67
91.42
1977
 
11,521
0.302
38,180
108.6
2.46
92.83
1978
 
12,467
0.323
38,625
109.9
1.17
92.64
1979
 
13,536
0.351
38,516
109.5
-0.28
92.91
1980
 
14,216
0.389
36,520
103.9
-5.18
90.80
1981
 
15,569
0.424
36,707
104.4
0.51
91.23
1982
 
16,261
0.448
36,320
103.3
-1.05
90.39
1983
 
17,010
0.467
36,442
103.6
0.33
89.90
1984
 
18,276
0.484
37,731
107.3
3.54
90.56
1985
 
19,220
0.501
38,342
109.0
1.62
90.96
1986
 
19,861
0.512
38,776
110.3
1.13
89.96
1987
 
20,946
0.528
39,670
112.8
2.30
90.57
1988
 
21,965
0.549
40,034
113.9
0.92
89.99
1989
 
22,954
0.573
40,086
114.0
0.13
90.16
1990
 
23,657
0.598
39,576
112.6
-1.27
88.94
1991
 
24,551
0.618
39,743
113.0
0.42
89.16
1992
 
26,097
0.634
41,149
117.0
3.54
88.83
1993
 
26,415
0.650
40,639
115.6
-1.24
87.76
1994
 
27,478
0.664
41,410
117.8
1.90
88.90
1995
 
28,232
0.678
41,668
118.5
0.62
89.33
1996
 
29,446
0.692
42,550
121.0
2.12
89.75
1997
 
30,619
0.704
43,489
123.7
2.21
89.48
1998
 
31,676
0.710
44,635
126.9
2.64
87.96
1999
 
33,118
0.720
45,997
130.8
3.05
87.73
2000
 
34,814
0.738
47,160
134.1
2.53
87.25
2001
 
36,021
0.753
47,835
136.0
1.43
86.85
2002
 
37,249
0.763
48,825
138.9
2.07
87.84
2003
 
38,387
0.779
49,281
140.2
0.93
87.93
2004
 
40,117
0.798
50,255
142.9
1.98
88.25
2005
 
40,757
0.821
49,627
141.1
-1.25
87.37
2006
 
42,117
0.844
49,878
141.9
0.50
86.94
2007
 
42,871
0.866
49,500
140.8
-0.76
86.81
2008
 
44,751
0.892
50,186
142.7
1.39
88.97
2009
 
45,154
0.889
50,780
144.4
1.18
90.24
2010
 
46,479
0.905
51,350
146.0
1.12
89.05
2011
 
47,140
0.928
50,795
144.5
-1.08
87.89
2012
 
48,286
0.945
51,078
145.3
0.56
87.69
2013
 
49,572
0.958
51,755
147.2
1.33
88.78
2014
 
50,191
0.971
51,679
147.0
-0.15
88.07
2015
 
50,750
0.973
52,159
148.3
0.93
87.49
2016
 
51,330
0.983
52,226
148.5
0.13
87.77
2017
 
52,613
1.000
52,613
149.6
0.74
87.21
2018
 
53,729
1.020
52,652
149.7
0.07
86.52
2019
 
55,935
1.035
54,036
153.7
2.63
86.83
2020
 
58,647
1.046
56,049
159.4
3.72
87.04
2021
 
60,580
1.090
55,577
158.1
-0.84
86.03
2022
 
62,528
1.160
53,883
153.2
-3.05
87.35
Source: Calculations by the Missouri Regional Economic Analysis Project (MO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_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:
Average Earnings Per Job, 1969-2022
 
1969
 
7,179
0.189
38,018
100.0
N
1970
 
7,596
0.198
38,430
101.1
1.08
1971
 
8,103
0.206
39,326
103.4
2.33
1972
 
8,691
0.213
40,786
107.3
3.71
1973
 
9,336
0.225
41,579
109.4
1.94
1974
 
9,928
0.248
40,044
105.3
-3.69
1975
 
10,713
0.269
39,883
104.9
-0.40
1976
 
11,549
0.283
40,761
107.2
2.20
1977
 
12,412
0.302
41,131
108.2
0.91
1978
 
13,457
0.323
41,694
109.7
1.37
1979
 
14,568
0.351
41,454
109.0
-0.58
1980
 
15,657
0.389
40,220
105.8
-2.98
1981
 
17,066
0.424
40,237
105.8
0.04
1982
 
17,989
0.448
40,181
105.7
-0.14
1983
 
18,920
0.467
40,535
106.6
0.88
1984
 
20,181
0.484
41,663
109.6
2.78
1985
 
21,130
0.501
42,152
110.9
1.17
1986
 
22,078
0.512
43,104
113.4
2.26
1987
 
23,126
0.528
43,799
115.2
1.61
1988
 
24,408
0.549
44,487
117.0
1.57
1989
 
25,460
0.573
44,462
117.0
-0.05
1990
 
26,599
0.598
44,498
117.0
0.08
1991
 
27,537
0.618
44,577
117.3
0.18
1992
 
29,378
0.634
46,323
121.8
3.92
1993
 
30,101
0.650
46,309
121.8
-0.03
1994
 
30,909
0.664
46,580
122.5
0.59
1995
 
31,605
0.678
46,646
122.7
0.14
1996
 
32,810
0.692
47,411
124.7
1.64
1997
 
34,218
0.704
48,600
127.8
2.51
1998
 
36,011
0.710
50,743
133.5
4.41
1999
 
37,751
0.720
52,432
137.9
3.33
2000
 
39,903
0.738
54,053
142.2
3.09
2001
 
41,477
0.753
55,080
144.9
1.90
2002
 
42,406
0.763
55,584
146.2
0.92
2003
 
43,655
0.779
56,045
147.4
0.83
2004
 
45,456
0.798
56,943
149.8
1.60
2005
 
46,648
0.821
56,800
149.4
-0.25
2006
 
48,442
0.844
57,368
150.9
1.00
2007
 
49,382
0.866
57,019
150.0
-0.61
2008
 
50,298
0.892
56,407
148.4
-1.07
2009
 
50,041
0.889
56,276
148.0
-0.23
2010
 
52,191
0.905
57,661
151.7
2.46
2011
 
53,633
0.928
57,792
152.0
0.23
2012
 
55,061
0.945
58,245
153.2
0.78
2013
 
55,837
0.958
58,296
153.3
0.09
2014
 
56,990
0.971
58,680
154.3
0.66
2015
 
58,005
0.973
59,615
156.8
1.59
2016
 
58,480
0.983
59,501
156.5
-0.19
2017
 
60,329
1.000
60,329
158.7
1.39
2018
 
62,102
1.020
60,856
160.1
0.87
2019
 
64,419
1.035
62,233
163.7
2.26
2020
 
67,378
1.046
64,393
169.4
3.47
2021
 
70,421
1.090
64,606
169.9
0.33
2022
 
71,586
1.160
61,690
162.3
-4.51
Source: Calculations by the Missouri Regional Economic Analysis Project (MO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

Please stay tuned...
while your request is processing:

Please wait while your request is being processed...
To offer the most comprehensive set of interactive options in support of your research, MO-REAP calculates and crunches most of the data and generates the narrative and graphic analysis on demand in response to your request.
Your request will soon be available.
Just a few more seconds....Your request has been generated and is now loading the results.