Essex County vs. Massachusetts | Total Personal Income Trends over 1969-2022

Introduction

Essex County:

2022 TPI = $63,093,353K

2022 Percent of State = 10.69%

Massachusetts:

2022 TPI = $590,400,289K

2022 Percent of U.S. = 2.71%

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 Essex County and Massachusetts 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.

Essex County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Essex 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 Essex County over time.

When measured in current dollars, Essex County's total personal income increased 2,117.30%, from $2,846M in 1970 to $63,093M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 277.68%, from $14,396M in 1970 to $54,371M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 tracks Essex County's and Massachusetts' annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Essex County's real total personal income rose from $14,325M in 1969 to $54,371M in 2022, for a net gain of $40,046M, or 279.56%. In comparison, Massachusetts' real total personal income increased from $127,320M in 1969 to $508,777M in 2022, for a net gain of $381,457M, or 299.60%.

Real Total Personal Income Indices (1969=100): 1969-2022

Figure 3.

Figure 3 shows Essex County's real total personal income growth in a broader context by offering direct comparisons across time with Massachusetts, 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.

Essex County's overall real total personal income growth was 279.56% over 1969-2022 trailed Massachusetts' increase of 299.60%, and fell below the United States' increase of 348.76%.

Total Personal Income as a Percent of the Massachusetts Total: 1969-2022

Figure 4.

Another interesting and insightful way of highlighting the total personal income growth of Essex County is to compare its individual percentage contributions to Massachusetts' 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 Massachusetts' total personal income, while a declining share shows it grew more slowly.

In 1969, Essex County's total personal income comprised 11.25% of Massachusetts' total personal income, while in 2022 it comprised 10.69% thereby yielding a -0.56% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Essex County	-0.56%	=	10.69%	-	11.25%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

Essex County Real Total Personal Income:
Annual Percent Change, 1970-2022

Figure 5.

Figure 5 displays the short-run pattern of Essex 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, Essex County's real total personal income grew at an annual rate of 2.58% over 1970-2022. The county recorded its highest growth in 2000 (9.94%) and posted its lowest growth in 2022 (-5.41%). In 2022, Essex County's real total personal income declined by -5.41%

Essex 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 illustrates the annual percent change in Essex 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, Essex County's annual real total personal income growth rate averaged 1.98%. It averaged 4.13% in the 1980s, 2.72% in the 1990s, 1.98% during the 2000s, 2.59% throughout the 2010s, 0.98% thus far this decade (2020-2022).

Real Total Personal Income Growth:
Average Annual Percent Change by Decade

Figure 7.

Figure 7 compares the decade average growth rates for Essex County noted in the previous graph with the corresponding decade averages for Massachusetts and the nation. As the chart reveals, Essex County's average annual real total personal income growth amounted to less than Massachusetts' average in the 1970s (1.98% vs. 2.01%), lagged Massachusetts' average during the 1980s (4.13% vs. 4.31%), led Massachusetts' average during the 1990s (2.72% vs. 2.63%), recorded under Massachusetts' average in the 2000s (1.98% vs. 2.04%), trailed Massachusetts' average throughout the 2010s (2.59% vs. 2.82%), and posted below Massachusetts' average over the 3 year period of the current decade, 2020-2022 (0.98% vs. 1.33%).

Finally, relative to nationwide real total personal income growth trends, Essex County trailed the nation throughout the 1970s (1.98% vs. 3.50%), exceeded the nation in the 1980s (4.13% vs. 3.16%), recorded underneath the nation throughout the 1990s (2.72% vs. 3.27%), fell under the nation in the 2000s (1.98% vs. 2.06%), fell under the nation in the 2010s (2.59% vs. 2.72%), and recorded underneath the nation over 2020-2022 (0.98% vs. 2.10%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1970-2022	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2022	2022
	%	%	%	%	%	%	%	%
Essex	2.58	1.98	4.13	2.72	1.98	2.59	0.98	-5.41
Massachusetts	2.68	2.01	4.31	2.63	2.04	2.82	1.33	-4.94
United States	2.89	3.50	3.16	3.27	2.06	2.72	2.10	-4.19

*Real total personal income growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

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

Essex County:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	2,704,944	0.189	14,324,758	100.0	N	11.25
1970	2,845,504	0.198	14,395,953	100.5	0.50	10.96
1971	3,022,721	0.206	14,669,842	102.4	1.90	10.90
1972	3,246,733	0.213	15,237,155	106.4	3.87	10.83
1973	3,549,303	0.225	15,806,293	110.3	3.74	10.90
1974	3,837,958	0.248	15,480,006	108.1	-2.06	10.91
1975	4,117,182	0.269	15,328,302	107.0	-0.98	10.89
1976	4,450,763	0.283	15,708,760	109.7	2.48	10.94
1977	4,863,220	0.302	16,116,185	112.5	2.59	10.98
1978	5,438,440	0.323	16,849,796	117.6	4.55	11.11
1979	6,111,443	0.351	17,390,214	121.4	3.21	11.22
1980	7,069,915	0.389	18,161,516	126.8	4.44	11.51
1981	7,912,120	0.424	18,654,061	130.2	2.71	11.57
1982	8,620,155	0.448	19,253,881	134.4	3.22	11.49
1983	9,368,823	0.467	20,072,035	140.1	4.25	11.50
1984	10,560,743	0.484	21,802,149	152.2	8.62	11.51
1985	11,416,607	0.501	22,774,910	159.0	4.46	11.50
1986	12,268,064	0.512	23,952,174	167.2	5.17	11.46
1987	13,030,006	0.528	24,677,107	172.3	3.03	11.27
1988	14,209,954	0.549	25,899,852	180.8	4.95	11.13
1989	14,891,923	0.573	26,007,096	181.6	0.41	11.02
1990	15,281,141	0.598	25,564,435	178.5	-1.70	10.98
1991	15,529,416	0.618	25,139,081	175.5	-1.66	10.98
1992	16,264,704	0.634	25,646,017	179.0	2.02	10.96
1993	17,026,116	0.650	26,194,025	182.9	2.14	11.04
1994	17,974,947	0.664	27,088,654	189.1	3.42	11.10
1995	19,016,657	0.678	28,067,209	195.9	3.61	11.09
1996	20,292,375	0.692	29,322,970	204.7	4.47	11.13
1997	21,548,642	0.704	30,605,823	213.7	4.37	11.16
1998	22,978,722	0.710	32,379,447	226.0	5.80	11.18
1999	24,413,432	0.720	33,907,074	236.7	4.72	11.12
2000	27,517,986	0.738	37,276,132	260.2	9.94	11.27
2001	28,563,786	0.753	37,932,307	264.8	1.76	11.24
2002	28,307,138	0.763	37,104,164	259.0	-2.18	11.19
2003	28,973,449	0.779	37,195,996	259.7	0.25	11.23
2004	30,097,822	0.798	37,703,812	263.2	1.37	11.11
2005	31,197,256	0.821	37,986,601	265.2	0.75	11.06
2006	33,604,262	0.844	39,796,615	277.8	4.76	11.08
2007	35,623,043	0.866	41,131,829	287.1	3.36	11.15
2008	36,932,521	0.892	41,418,101	289.1	0.70	11.08
2009	36,509,493	0.889	41,058,347	286.6	-0.87	11.04
2010	38,132,305	0.905	42,128,627	294.1	2.61	11.01
2011	40,165,962	0.928	43,280,421	302.1	2.73	11.06
2012	41,238,735	0.945	43,623,178	304.5	0.79	10.95
2013	41,401,819	0.958	43,225,503	301.8	-0.91	10.92
2014	43,300,136	0.971	44,583,701	311.2	3.14	10.92
2015	46,250,524	0.973	47,534,429	331.8	6.62	10.95
2016	47,718,499	0.983	48,551,645	338.9	2.14	10.88
2017	50,108,236	1.000	50,108,236	349.8	3.21	10.90
2018	52,519,700	1.020	51,466,187	359.3	2.71	10.85
2019	54,824,500	1.035	52,963,879	369.7	2.91	10.80
2020	58,172,607	1.046	55,595,744	388.1	4.97	10.74
2021	62,654,945	1.090	57,481,074	401.3	3.39	10.74
2022	63,093,353	1.160	54,370,667	379.6	-5.41	10.69

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Massachusetts Regional Economic Analysis Project (MA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PSN

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

Massachusetts:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1969	24,041,879	0.189	127,320,230	100.0	N	3.04
1970	25,961,402	0.198	131,343,732	103.2	3.16	3.03
1971	27,741,966	0.206	134,637,059	105.7	2.51	3.00
1972	29,977,946	0.213	140,688,690	110.5	4.49	2.95
1973	32,574,071	0.225	145,063,776	113.9	3.11	2.87
1974	35,182,241	0.248	141,903,929	111.5	-2.18	2.83
1975	37,801,838	0.269	140,736,552	110.5	-0.82	2.77
1976	40,688,841	0.283	143,609,364	112.8	2.04	2.72
1977	44,297,892	0.302	146,798,423	115.3	2.22	2.68
1978	48,938,719	0.323	151,625,725	119.1	3.29	2.64
1979	54,486,376	0.351	155,041,903	121.8	2.25	2.63
1980	61,411,923	0.389	157,757,714	123.9	1.75	2.65
1981	68,412,222	0.424	161,292,519	126.7	2.24	2.64
1982	75,002,101	0.448	167,523,846	131.6	3.86	2.70
1983	81,459,378	0.467	174,520,906	137.1	4.18	2.74
1984	91,789,284	0.484	189,494,589	148.8	8.58	2.80
1985	99,275,106	0.501	198,043,221	155.5	4.51	2.83
1986	107,091,781	0.512	209,086,044	164.2	5.58	2.88
1987	115,602,354	0.528	218,935,559	172.0	4.71	2.94
1988	127,633,759	0.549	232,632,387	182.7	6.26	2.99
1989	135,075,580	0.573	235,894,553	185.3	1.40	2.93
1990	139,212,594	0.598	232,894,344	182.9	-1.27	2.84
1991	141,495,403	0.618	229,053,328	179.9	-1.65	2.79
1992	148,383,518	0.634	233,969,596	183.8	2.15	2.74
1993	154,231,900	0.650	237,279,846	186.4	1.41	2.73
1994	162,007,777	0.664	244,149,402	191.8	2.90	2.73
1995	171,515,864	0.678	253,145,001	198.8	3.68	2.73
1996	182,243,752	0.692	263,346,606	206.8	4.03	2.74
1997	193,168,882	0.704	274,360,336	215.5	4.18	2.73
1998	205,509,178	0.710	289,584,142	227.4	5.55	2.71
1999	219,633,348	0.720	305,042,080	239.6	5.34	2.75
2000	244,147,371	0.738	330,724,406	259.8	8.42	2.83
2001	254,058,068	0.753	337,385,552	265.0	2.01	2.83
2002	252,959,517	0.763	331,571,898	260.4	-1.72	2.77
2003	257,917,997	0.779	331,114,074	260.1	-0.14	2.72
2004	270,865,468	0.798	339,315,605	266.5	2.48	2.71
2005	282,138,090	0.821	343,538,775	269.8	1.24	2.68
2006	303,265,438	0.844	359,149,027	282.1	4.54	2.69
2007	319,406,998	0.866	368,800,441	289.7	2.69	2.68
2008	333,450,507	0.892	373,949,206	293.7	1.40	2.68
2009	330,773,419	0.889	371,985,717	292.2	-0.53	2.74
2010	346,269,933	0.905	382,559,530	300.5	2.84	2.76
2011	363,076,328	0.928	391,229,180	307.3	2.27	2.73
2012	376,591,179	0.945	398,365,857	312.9	1.82	2.71
2013	379,250,360	0.958	395,955,732	311.0	-0.61	2.70
2014	396,488,668	0.971	408,241,954	320.6	3.10	2.68
2015	422,547,551	0.973	434,277,383	341.1	6.38	2.73
2016	438,598,480	0.983	446,256,237	350.5	2.76	2.76
2017	459,778,749	1.000	459,778,749	361.1	3.03	2.76
2018	483,954,440	1.020	474,246,612	372.5	3.15	2.76
2019	507,712,735	1.035	490,482,099	385.2	3.42	2.77
2020	541,420,498	1.046	517,437,280	406.4	5.50	2.76
2021	583,363,067	1.090	535,190,564	420.3	3.43	2.73
2022	590,400,289	1.160	508,777,168	399.6	-4.94	2.71

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Massachusetts Regional Economic Analysis Project (MA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PSN

Interactive Table 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, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
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

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Massachusetts Regional Economic Analysis Project (MA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PN

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