Madison County vs. Missouri
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Madison County vs. Missouri
Madison County:
2022 TPI = $521,893K
2022 Percent of State = 0.15%
Missouri:
2022 TPI = $357,194,742K
2022 Percent of U.S. = 1.64%
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 Madison County and Missouri 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.
Madison County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Madison County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Madison 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 Madison County over time.
When measured in current dollars, Madison County's total personal income increased 2,132.89%, from $23M in 1970 to $522M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 280.34%, from $118M in 1970 to $450M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Madison County's and Missouri's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Madison County's real total personal income rose from $112M in 1969 to $450M in 2022, for a net gain of $338M, or 301.69%. In comparison, Missouri's real total personal income advanced from $89,565M in 1969 to $307,812M in 2022, for a net gain of $218,248M, or 243.68%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Madison County's real total personal income 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 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.
Madison County's overall real total personal income growth was 301.69% over 1969-2022 outpaced Missouri's increase of 243.68%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the Missouri Total: 1969-2022
Total Personal Income as a Percent of the Missouri Total: 1969-2022
Figure 4.
Another interesting and insightful way of contrasting the total personal income growth of Madison County is to compare its individual percentage contributions to Missouri's 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 Missouri's total personal income, while a declining share shows it grew more slowly.
In 1969, Madison County's total personal income totaled 0.13% of Missouri's total personal income, while in 2022 it comprised 0.15% thereby yielding a +0.02% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.02%
=
0.15%
-
0.13%
 
   
Madison County Real Total Personal Income:
Annual Percent Change, 1970-2022
Madison County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Madison 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 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, Madison County's real total personal income grew at an annual rate of 2.70% over 1970-2022. The county recorded its highest growth in 1973 (10.77%) and posted its lowest growth in 2022 (-4.37%). In 2022, Madison County's real total personal income declined by -4.37%
Madison County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Madison 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 shows the annual percent change in Madison 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, 2010s, and 2020-2022.
During the 1970s, Madison County's annual real total personal income growth rate averaged 5.66%. It averaged 1.55% in the 1980s, 2.22% throughout the 1990s, 3.37% during the 2000s, 1.19% during the 2010s, 1.11% 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 Madison County noted in the previous graph with the corresponding decade averages for Missouri and the nation. As the chart reveals, Madison County's average annual real total personal income growth recorded above Missouri's average throughout the 1970s (5.66% vs. 3.08%), fell below Missouri's average during the 1980s (1.55% vs. 2.44%), lagged Missouri's average in the 1990s (2.22% vs. 2.84%), outpaced Missouri's average during the 2000s (3.37% vs. 1.84%), posted below Missouri's average in the 2010s (1.19% vs. 1.68%), and recorded under Missouri's average over the 3 year period of the current decade, 2020-2022 (1.11% vs. 2.41%).
Finally, relative to nationwide real total personal income growth trends, Madison County led the nation throughout the 1970s (5.66% vs. 3.50%), lagged the nation over the 1980s (1.55% vs. 3.16%), fell under the nation in the 1990s (2.22% vs. 3.27%), led the nation during the 2000s (3.37% vs. 2.06%), posted below the nation in the 2010s (1.19% vs. 2.72%), and fell under the nation over 2020-2022 (1.11% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.70
5.66
1.55
2.22
3.37
1.19
1.11
-4.37
 
2.38
3.08
2.44
2.84
1.84
1.68
2.41
-3.02
 
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.

   
 
Madison County:
Total Personal Income, 1969-2022
 
1969
 
21,142
0.189
111,963
100.0
N
0.13
1970
 
23,373
0.198
118,249
105.6
5.61
0.13
1971
 
25,205
0.206
122,325
109.3
3.45
0.13
1972
 
28,801
0.213
135,165
120.7
10.50
0.13
1973
 
33,621
0.225
149,726
133.7
10.77
0.14
1974
 
37,532
0.248
151,381
135.2
1.11
0.15
1975
 
40,589
0.269
151,113
135.0
-0.18
0.14
1976
 
45,756
0.283
161,494
144.2
6.87
0.15
1977
 
50,385
0.302
166,970
149.1
3.39
0.15
1978
 
59,386
0.323
183,994
164.3
10.20
0.16
1979
 
67,803
0.351
192,935
172.3
4.86
0.16
1980
 
76,238
0.389
195,844
174.9
1.51
0.17
1981
 
86,193
0.424
203,213
181.5
3.76
0.17
1982
 
92,383
0.448
206,346
184.3
1.54
0.17
1983
 
97,685
0.467
209,283
186.9
1.42
0.17
1984
 
101,396
0.484
209,327
187.0
0.02
0.16
1985
 
104,525
0.501
208,516
186.2
-0.39
0.15
1986
 
108,962
0.512
212,737
190.0
2.02
0.15
1987
 
109,087
0.528
206,596
184.5
-2.89
0.14
1988
 
115,671
0.549
210,828
188.3
2.05
0.14
1989
 
128,522
0.573
224,449
200.5
6.46
0.15
1990
 
134,183
0.598
224,480
200.5
0.01
0.15
1991
 
144,641
0.618
234,145
209.1
4.31
0.15
1992
 
149,908
0.634
236,373
211.1
0.95
0.15
1993
 
156,235
0.650
240,362
214.7
1.69
0.15
1994
 
164,539
0.664
247,964
221.5
3.16
0.15
1995
 
172,572
0.678
254,704
227.5
2.72
0.14
1996
 
180,308
0.692
260,549
232.7
2.30
0.14
1997
 
192,324
0.704
273,160
244.0
4.84
0.14
1998
 
196,137
0.710
276,378
246.8
1.18
0.14
1999
 
201,143
0.720
279,361
249.5
1.08
0.14
2000
 
210,693
0.738
285,407
254.9
2.16
0.13
2001
 
229,317
0.753
304,530
272.0
6.70
0.14
2002
 
238,512
0.763
312,635
279.2
2.66
0.14
2003
 
250,315
0.779
321,353
287.0
2.79
0.15
2004
 
271,158
0.798
339,682
303.4
5.70
0.15
2005
 
286,127
0.821
348,396
311.2
2.57
0.15
2006
 
297,973
0.844
352,881
315.2
1.29
0.15
2007
 
313,734
0.866
362,250
323.5
2.65
0.15
2008
 
339,937
0.892
381,224
340.5
5.24
0.15
2009
 
345,462
0.889
388,504
347.0
1.91
0.16
2010
 
346,143
0.905
382,419
341.6
-1.57
0.16
2011
 
366,391
0.928
394,801
352.6
3.24
0.16
2012
 
381,461
0.945
403,517
360.4
2.21
0.16
2013
 
395,078
0.958
412,481
368.4
2.22
0.16
2014
 
404,177
0.971
416,158
371.7
0.89
0.16
2015
 
416,050
0.973
427,599
381.9
2.75
0.16
2016
 
415,318
0.983
422,569
377.4
-1.18
0.16
2017
 
422,497
1.000
422,497
377.4
-0.02
0.15
2018
 
432,317
1.020
423,645
378.4
0.27
0.15
2019
 
452,241
1.035
436,893
390.2
3.13
0.15
2020
 
495,522
1.046
473,572
423.0
8.40
0.15
2021
 
512,601
1.090
470,272
420.0
-0.70
0.15
2022
 
521,893
1.160
449,741
401.7
-4.37
0.15
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_300_PSN
 
   

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

   
 
Missouri:
Total Personal Income, 1969-2022
 
1969
 
16,912,485
0.189
89,564,608
100.0
N
2.14
1970
 
18,479,482
0.198
93,491,258
104.4
4.38
2.16
1971
 
19,938,913
0.206
96,767,353
108.0
3.50
2.16
1972
 
21,682,224
0.213
101,756,261
113.6
5.16
2.13
1973
 
24,089,650
0.225
107,279,670
119.8
5.43
2.13
1974
 
25,774,725
0.248
103,959,686
116.1
-3.09
2.07
1975
 
28,212,715
0.269
105,036,169
117.3
1.04
2.07
1976
 
30,912,024
0.283
109,102,545
121.8
3.87
2.07
1977
 
34,252,401
0.302
113,508,752
126.7
4.04
2.07
1978
 
38,129,735
0.323
118,136,495
131.9
4.08
2.05
1979
 
42,514,262
0.351
120,975,051
135.1
2.40
2.05
1980
 
46,138,539
0.389
118,522,757
132.3
-2.03
1.99
1981
 
51,479,765
0.424
121,371,602
135.5
2.40
1.99
1982
 
55,043,829
0.448
122,945,275
137.3
1.30
1.98
1983
 
58,776,893
0.467
125,925,300
140.6
2.42
1.98
1984
 
65,104,981
0.484
134,406,121
150.1
6.73
1.99
1985
 
69,704,040
0.501
139,052,107
155.3
3.46
1.99
1986
 
73,379,132
0.512
143,265,452
160.0
3.03
1.97
1987
 
77,025,452
0.528
145,876,012
162.9
1.82
1.96
1988
 
82,057,137
0.549
149,561,901
167.0
2.53
1.92
1989
 
87,941,735
0.573
153,580,509
171.5
2.69
1.91
1990
 
91,896,544
0.598
153,737,422
171.6
0.10
1.88
1991
 
96,075,025
0.618
155,526,637
173.6
1.16
1.89
1992
 
102,078,066
0.634
160,955,639
179.7
3.49
1.89
1993
 
106,723,405
0.650
164,189,854
183.3
2.01
1.89
1994
 
113,256,616
0.664
170,680,294
190.6
3.95
1.91
1995
 
119,399,811
0.678
176,225,479
196.8
3.25
1.90
1996
 
126,394,157
0.692
182,642,598
203.9
3.64
1.90
1997
 
134,117,797
0.704
190,489,294
212.7
4.30
1.90
1998
 
140,839,690
0.710
198,458,002
221.6
4.18
1.86
1999
 
146,172,453
0.720
203,014,476
226.7
2.30
1.83
2000
 
156,202,129
0.738
211,592,925
236.2
4.23
1.81
2001
 
161,531,191
0.753
214,511,156
239.5
1.38
1.80
2002
 
165,389,801
0.763
216,788,089
242.0
1.06
1.81
2003
 
171,593,178
0.779
220,290,623
246.0
1.62
1.81
2004
 
180,453,767
0.798
226,056,055
252.4
2.62
1.80
2005
 
186,770,922
0.821
227,417,198
253.9
0.60
1.77
2006
 
197,834,125
0.844
234,289,584
261.6
3.02
1.75
2007
 
207,411,340
0.866
239,485,654
267.4
2.22
1.74
2008
 
219,921,999
0.892
246,632,274
275.4
2.98
1.77
2009
 
216,424,450
0.889
243,389,582
271.7
-1.31
1.79
2010
 
221,760,207
0.905
245,001,002
273.5
0.66
1.77
2011
 
230,858,278
0.928
248,758,974
277.7
1.53
1.74
2012
 
240,967,754
0.945
254,900,622
284.6
2.47
1.73
2013
 
242,493,009
0.958
253,174,439
282.7
-0.68
1.72
2014
 
250,783,748
0.971
258,217,840
288.3
1.99
1.70
2015
 
259,349,984
0.973
266,549,486
297.6
3.23
1.68
2016
 
267,048,570
0.983
271,711,133
303.4
1.94
1.68
2017
 
273,774,195
1.000
273,774,195
305.7
0.76
1.64
2018
 
286,084,305
1.020
280,345,630
313.0
2.40
1.63
2019
 
297,349,071
1.035
287,257,708
320.7
2.47
1.62
2020
 
320,592,856
1.046
306,391,605
342.1
6.66
1.63
2021
 
345,961,209
1.090
317,392,693
354.4
3.59
1.62
2022
 
357,194,742
1.160
307,812,399
343.7
-3.02
1.64
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_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 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_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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