Metropolitan U.S. vs. Massachusetts
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Metropolitan U.S. vs. Massachusetts
Metropolitan U.S.:
2022 TPI = $19,506,221,545K
2022 Percent of State = 89.40%
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 the Metropolitan U.S. 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.
Metropolitan U.S. Total Personal Income, 1970-2022
Current vs. Constant Dollars (Billions)
Metropolitan U.S. Total Personal Income, 1970-2022
Current vs. Constant Dollars (Billions)
Figure 1.
Figure 1 depicts the Metropolitan U.S.'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 the Metropolitan U.S. over time.
When measured in current dollars, the Metropolitan U.S.'s total personal income increased 2,538.40%, from $739B in 1970 to $19,506B in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 349.41%, from $3,740B in 1970 to $16,809B in 2022.
Real Total Personal Income, 1969-2022 (Billions)
Real Total Personal Income, 1969-2022 (Billions)
Figure 2.
Figure 2 tracks the Metropolitan U.S.'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, the Metropolitan U.S.'s real total personal income rose from $3,623B in 1969 to $16,809B in 2022, for a net gain of $13,187B, or 364.00%. In comparison, Massachusetts' real total personal income increased from $127B in 1969 to $509B in 2022, for a net gain of $381B, or 299.60%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows the Metropolitan U.S.'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.
The Metropolitan U.S.'s overall real total personal income growth was 364.00% over 1969-2022 outpaced Massachusetts' increase of 299.60%, and topped the United States' increase of 348.76%.
Total Personal Income as a Percent of the United States Total: 1969-2022
Total Personal Income as a Percent of the United States Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of the Metropolitan U.S. and Massachusetts is to trace their individual percentage contributions to the United States' total 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 the United States' total personal income, while a declining share shows they grew more slowly.
In 1969, the Metropolitan U.S.'s total personal income comprised 86.46% of the United States' total personal income, while in 2022 it equated to 89.40% thereby yielding a +2.94% share-shift. Similarly, in 1969, Massachusetts' total personal income made up 3.04% of the United States' total personal income, while in 2022 it accounted for 2.71%, resulting in a -0.33% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.33%
=
2.71%
-
3.04%
+2.94%
=
89.40%
-
86.46%
 
   
Metropolitan U.S. Real Total Personal Income:
Annual Percent Change, 1970-2022
Metropolitan U.S. Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of the Metropolitan U.S.'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, the Metropolitan U.S.'s real total personal income grew at an annual rate of 2.96% over 1970-2022. The Metropolitan U.S. recorded its highest growth in 1998 (6.75%) and recorded its lowest growth in 2022 (-4.12%). In 2022, the Metropolitan U.S.'s real total personal income declined by -4.12%
Metropolitan U.S. Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Metropolitan U.S. Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some metropolitan regions 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 the Metropolitan U.S.'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, the Metropolitan U.S.'s annual real total personal income growth rate averaged 3.40%. It averaged 3.37% during the 1980s, 3.35% throughout the 1990s, 2.08% during the 2000s, 2.86% throughout the 2010s, 2.07% 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 the Metropolitan U.S. noted in the previous graph with the corresponding decade averages for Massachusetts and the nation. As the chart reveals, the Metropolitan U.S.'s average annual real total personal income growth topped Massachusetts' average in the 1970s (3.40% vs. 2.01%), posted below Massachusetts' average in the 1980s (3.37% vs. 4.31%), outpaced Massachusetts' average throughout the 1990s (3.35% vs. 2.63%), topped Massachusetts' average during the 2000s (2.08% vs. 2.04%), topped Massachusetts' average in the 2010s (2.86% vs. 2.82%), and outgained Massachusetts' average over the 3 year period of the current decade, 2020-2022 (2.07% vs. 1.33%).
Finally, relative to nationwide real total personal income growth trends, the Metropolitan U.S. fell below the nation during the 1970s (3.40% vs. 3.50%), led the nation during the 1980s (3.37% vs. 3.16%), topped the nation during the 1990s (3.35% vs. 3.27%), surpassed the nation throughout the 2000s (2.08% vs. 2.06%), recorded above the nation throughout the 2010s (2.86% vs. 2.72%), and fell under the nation over 2020-2022 (2.07% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.96
3.40
3.37
3.35
2.08
2.86
2.07
-4.12
 
2.68
2.01
4.31
2.63
2.04
2.82
1.33
-4.94
 
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.

   
 
Metropolitan U.S.:
Total Personal Income, 1969-2022
 
1969
 
684,087,777
0.189
3,622,770,624
100.0
N
86.46
1970
 
739,319,709
0.198
3,740,360,766
103.2
3.25
86.42
1971
 
798,048,937
0.206
3,873,083,897
106.9
3.55
86.31
1972
 
875,093,686
0.213
4,106,878,571
113.4
6.04
86.10
1973
 
968,033,324
0.225
4,310,992,314
119.0
4.97
85.40
1974
 
1,066,312,857
0.248
4,300,862,570
118.7
-0.23
85.65
1975
 
1,165,803,536
0.269
4,340,296,113
119.8
0.92
85.56
1976
 
1,281,064,175
0.283
4,521,456,164
124.8
4.17
85.65
1977
 
1,415,460,784
0.302
4,690,683,934
129.5
3.74
85.70
1978
 
1,589,606,840
0.323
4,925,042,880
135.9
5.00
85.65
1979
 
1,776,465,174
0.351
5,054,961,654
139.5
2.64
85.68
1980
 
1,990,908,866
0.389
5,114,336,380
141.2
1.17
86.04
1981
 
2,226,860,016
0.424
5,250,170,968
144.9
2.66
85.95
1982
 
2,391,198,751
0.448
5,340,954,526
147.4
1.73
86.09
1983
 
2,563,947,140
0.467
5,493,073,828
151.6
2.85
86.35
1984
 
2,828,377,511
0.484
5,839,050,168
161.2
6.30
86.35
1985
 
3,040,766,589
0.501
6,066,004,207
167.4
3.89
86.67
1986
 
3,233,023,712
0.512
6,312,157,036
174.2
4.06
86.96
1987
 
3,428,434,789
0.528
6,493,001,759
179.2
2.87
87.20
1988
 
3,730,915,703
0.549
6,800,174,434
187.7
4.73
87.49
1989
 
4,028,127,729
0.573
7,034,679,326
194.2
3.45
87.47
1990
 
4,289,725,914
0.598
7,176,454,896
198.1
2.02
87.59
1991
 
4,440,063,499
0.618
7,187,592,675
198.4
0.16
87.54
1992
 
4,729,278,236
0.634
7,457,077,004
205.8
3.75
87.47
1993
 
4,936,863,016
0.650
7,595,173,871
209.7
1.85
87.48
1994
 
5,186,221,138
0.664
7,815,753,117
215.7
2.90
87.40
1995
 
5,499,195,398
0.678
8,116,414,379
224.0
3.85
87.59
1996
 
5,832,794,165
0.692
8,428,527,903
232.7
3.85
87.57
1997
 
6,199,376,363
0.704
8,805,056,831
243.0
4.47
87.71
1998
 
6,670,525,329
0.710
9,399,474,867
259.5
6.75
87.96
1999
 
7,033,940,732
0.720
9,769,226,444
269.7
3.93
88.16
2000
 
7,622,194,487
0.738
10,325,098,869
285.0
5.69
88.42
2001
 
7,941,114,555
0.753
10,545,688,767
291.1
2.14
88.33
2002
 
8,079,441,611
0.763
10,590,294,545
292.3
0.42
88.33
2003
 
8,361,381,198
0.779
10,734,307,133
296.3
1.36
88.25
2004
 
8,834,496,795
0.798
11,067,053,497
305.5
3.10
88.27
2005
 
9,319,147,275
0.821
11,347,239,367
313.2
2.53
88.41
2006
 
10,009,774,044
0.844
11,854,303,700
327.2
4.47
88.65
2007
 
10,570,335,588
0.866
12,204,943,697
336.9
2.96
88.64
2008
 
10,986,240,039
0.892
12,320,556,285
340.1
0.95
88.43
2009
 
10,644,483,143
0.889
11,970,719,114
330.4
-2.84
88.28
2010
 
11,074,667,528
0.905
12,235,308,933
337.7
2.21
88.26
2011
 
11,742,871,881
0.928
12,653,411,363
349.3
3.42
88.29
2012
 
12,304,432,213
0.945
13,015,880,226
359.3
2.86
88.48
2013
 
12,434,649,034
0.958
12,982,375,454
358.4
-0.26
88.42
2014
 
13,098,330,657
0.971
13,486,610,164
372.3
3.88
88.63
2015
 
13,749,801,376
0.973
14,131,493,002
390.1
4.78
88.90
2016
 
14,160,850,146
0.983
14,408,093,022
397.7
1.96
89.15
2017
 
14,874,329,091
1.000
14,874,329,091
410.6
3.24
89.29
2018
 
15,658,029,135
1.020
15,343,938,710
423.5
3.16
89.40
2019
 
16,409,442,322
1.035
15,852,542,504
437.6
3.31
89.46
2020
 
17,514,915,792
1.046
16,739,060,345
462.1
5.59
89.32
2021
 
19,108,986,993
1.090
17,531,019,892
483.9
4.73
89.32
2022
 
19,506,221,545
1.160
16,809,477,129
464.0
-4.12
89.40
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 TableTip: 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
 
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
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 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 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
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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