Washington County vs. New York
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Washington County vs. New York
Washington County:
2022 Earnings = $1,328,809K
2022 Percent of State = 0.11%
New York:
2022 Earnings = $1,161,900,185K
2022 Percent of U.S. = 7.64%
Industry earnings are incomes received by people who are directly involved with producing goods and services. Earnings, referred to also as "labor and proprietors income", include (1) wage and salary disbursements, (2) other labor income such as employer contributions to private retirement and medical insurance programs, and (3) the net incomes of proprietors (i.e., the owners of unincorporated enterprises).
In contrast to the more frequently cited employment data, earnings data more accurately reflect qualitative differences in labor's contributions toward the production of goods and services, namely the productivity differences reflected in variations in earnings per job. Earnings data, therefore, are better for comparing and tracking long-term trends and identifying short-run shifts in the level and composition of economic activity within and among counties.
Just like the employment data compiled by BEA, earnings data are reported on a place-of-work, or more accurately on a place-where-earned, basis.
Note: the BEA earnings data presented and discussed here in the context of comparing and assessing the economic growth and performance of county and regional economies are entirely separate and apart from--and should not be confused with--corporate earnings, which are compiled from the balance sheets of individual private corporations.
Washington County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Washington County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Washington County's annual total industry earnings 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 industry earnings increased 896.72%, from $133M in 1970 to $1,329M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 69.77%, from $674M in 1970 to $1,145M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Washington County's and New York's annual real total industry earnings for the period 1969-2022 to illustrate real total industry earnings patterns over time. During this 54-year period, Washington County's real total industry earnings rose from $634M in 1969 to $1,145M in 2022, for a net gain of $511M, or 80.53%. In comparison, New York's real total industry earnings advanced from $374,960M in 1969 to $1,001,267M in 2022, for a net advance of $626,307M, or 167.03%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Washington County's real total industry earnings growth in a broader context by offering direct comparisons across time with New York, the United States. The growth indices shown here express each region's real total industry earnings in 1969 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total industry earnings growth between regions that may differ vastly in size.
Washington County's overall real total industry earnings growth was 80.53% over 1969-2022 trailed New York's increase of 167.03%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the New York Total: 1969-2022
Total Industry Earnings as a Percent of the New York Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total industry earnings growth of Washington County is to compare its individual percentage contributions to New York's statewide total industry earnings over time, as shown in Figure 4. A rising share means a region's total industry earnings grew faster, or declined less, than New York's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Washington County's total industry earnings comprised 0.17% of New York's total industry earnings, while in 2022 it comprised 0.11% thereby yielding a -0.05% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.05%
=
0.11%
-
0.17%
 
   
Washington County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Washington County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Washington County's real total industry earnings 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 industry earnings grew at an annual rate of 1.18% over 1970-2022. The county recorded its highest growth in 1984 (9.41%) and recorded its lowest growth in 1975 (-6.35%). In 2022, Washington County's real total industry earnings declined by -1.76%
Washington County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Washington County Real Total Industry Earnings:
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 Washington County's real total industry earnings 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, Washington County's annual real total industry earnings growth rate averaged 1.66%. It averaged 1.98% throughout the 1980s, 0.70% in the 1990s, 0.73% throughout the 2000s, 0.99% throughout the 2010s, 0.67% thus far this decade (2020-2022).
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Real Total Industry Earnings 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 New York and the nation. As the chart reveals, Washington County's average annual real total industry earnings growth registered above New York's average in the 1970s (1.66% vs. 0.67%), amounted to less than New York's average during the 1980s (1.98% vs. 3.38%), posted below New York's average during the 1990s (0.70% vs. 2.41%), trailed New York's average during the 2000s (0.73% vs. 1.13%), amounted to less than New York's average throughout the 2010s (0.99% vs. 2.54%), and topped New York's average over the 3 year period of the current decade, 2020-2022 (0.67% vs. -0.10%).
Finally, relative to nationwide real total industry earnings growth trends, Washington County fell under the nation over the 1970s (1.66% vs. 3.13%), fell below the nation throughout the 1980s (1.98% vs. 2.62%), trailed the nation over the 1990s (0.70% vs. 3.43%), lagged the nation over the 2000s (0.73% vs. 1.47%), fell under the nation over the 2010s (0.99% vs. 2.53%), and recorded underneath the nation over 2020-2022 (0.67% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
1.18
1.66
1.98
0.70
0.73
0.99
0.67
-1.76
 
1.91
0.67
3.38
2.41
1.13
2.54
-0.10
-1.78
 
2.57
3.13
2.62
3.43
1.47
2.53
1.48
0.05
 
   

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 Industry Earnings, 1969-2022
 
1969
 
119,772
0.189
634,285
100.0
N
0.17
1970
 
133,318
0.198
674,481
106.3
6.34
0.18
1971
 
138,304
0.206
671,216
105.8
-0.48
0.17
1972
 
149,296
0.213
700,657
110.5
4.39
0.18
1973
 
162,945
0.225
725,651
114.4
3.57
0.18
1974
 
172,472
0.248
695,648
109.7
-4.13
0.18
1975
 
174,979
0.269
651,448
102.7
-6.35
0.17
1976
 
194,785
0.283
687,485
108.4
5.53
0.18
1977
 
206,759
0.302
685,177
108.0
-0.34
0.18
1978
 
238,123
0.323
737,771
116.3
7.68
0.19
1979
 
260,295
0.351
740,674
116.8
0.39
0.19
1980
 
271,963
0.389
698,631
110.1
-5.68
0.18
1981
 
293,563
0.424
692,121
109.1
-0.93
0.17
1982
 
303,379
0.448
677,624
106.8
-2.09
0.17
1983
 
321,666
0.467
689,146
108.6
1.70
0.16
1984
 
365,239
0.484
754,018
118.9
9.41
0.17
1985
 
381,601
0.501
761,253
120.0
0.96
0.16
1986
 
409,523
0.512
799,553
126.1
5.03
0.16
1987
 
440,812
0.528
834,840
131.6
4.41
0.16
1988
 
472,347
0.549
860,926
135.7
3.12
0.16
1989
 
511,832
0.573
893,858
140.9
3.83
0.16
1990
 
531,830
0.598
889,720
140.3
-0.46
0.16
1991
 
533,949
0.618
864,359
136.3
-2.85
0.16
1992
 
577,448
0.634
910,514
143.5
5.34
0.16
1993
 
582,421
0.650
896,032
141.3
-1.59
0.16
1994
 
598,754
0.664
902,336
142.3
0.70
0.16
1995
 
587,080
0.678
866,488
136.6
-3.97
0.15
1996
 
615,242
0.692
889,039
140.2
2.60
0.15
1997
 
628,229
0.704
892,282
140.7
0.36
0.14
1998
 
665,467
0.710
937,713
147.8
5.09
0.14
1999
 
687,372
0.720
954,670
150.5
1.81
0.14
2000
 
761,300
0.738
1,031,264
162.6
8.02
0.14
2001
 
741,313
0.753
984,453
155.2
-4.54
0.13
2002
 
737,842
0.763
967,142
152.5
-1.76
0.13
2003
 
776,694
0.779
997,117
157.2
3.10
0.14
2004
 
833,372
0.798
1,043,973
164.6
4.70
0.14
2005
 
838,995
0.821
1,021,582
161.1
-2.14
0.14
2006
 
859,129
0.844
1,017,443
160.4
-0.41
0.13
2007
 
889,775
0.866
1,027,371
162.0
0.98
0.12
2008
 
907,547
0.892
1,017,772
160.5
-0.93
0.13
2009
 
907,141
0.889
1,020,165
160.8
0.24
0.13
2010
 
960,682
0.905
1,061,363
167.3
4.04
0.13
2011
 
996,987
0.928
1,074,293
169.4
1.22
0.13
2012
 
1,041,937
0.945
1,102,182
173.8
2.60
0.13
2013
 
1,067,217
0.958
1,114,226
175.7
1.09
0.13
2014
 
1,076,602
0.971
1,108,516
174.8
-0.51
0.13
2015
 
1,064,094
0.973
1,093,633
172.4
-1.34
0.12
2016
 
1,039,651
0.983
1,057,803
166.8
-3.28
0.12
2017
 
1,076,498
1.000
1,076,498
169.7
1.77
0.11
2018
 
1,097,525
1.020
1,075,509
169.6
-0.09
0.11
2019
 
1,162,615
1.035
1,123,158
177.1
4.43
0.11
2020
 
1,175,545
1.046
1,123,472
177.1
0.03
0.11
2021
 
1,270,538
1.090
1,165,620
183.8
3.75
0.11
2022
 
1,328,809
1.160
1,145,101
180.5
-1.76
0.11
Source: Calculations by the New York Regional Economic Analysis Project (NY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PSN
 
   

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

   
 
New York:
Total Industry Earnings, 1969-2022
 
1969
 
70,803,749
0.189
374,960,276
100.0
N
10.83
1970
 
75,179,247
0.198
380,346,287
101.4
1.44
10.84
1971
 
79,497,388
0.206
385,816,006
102.9
1.44
10.71
1972
 
85,214,226
0.213
399,916,585
106.7
3.65
10.40
1973
 
90,942,602
0.225
404,999,341
108.0
1.27
9.90
1974
 
96,174,857
0.248
387,911,334
103.5
-4.22
9.68
1975
 
100,823,878
0.269
375,368,124
100.1
-3.23
9.52
1976
 
107,099,769
0.283
378,003,632
100.8
0.70
9.13
1977
 
115,975,087
0.302
384,328,894
102.5
1.67
8.90
1978
 
127,737,172
0.323
395,765,188
105.5
2.98
8.65
1979
 
140,490,034
0.351
399,766,764
106.6
1.01
8.52
1980
 
153,863,806
0.389
395,252,276
105.4
-1.13
8.62
1981
 
168,824,908
0.424
398,031,140
106.2
0.70
8.61
1982
 
181,202,665
0.448
404,732,226
107.9
1.68
8.82
1983
 
195,439,621
0.467
418,715,445
111.7
3.45
8.93
1984
 
215,516,567
0.484
444,923,650
118.7
6.26
8.86
1985
 
233,242,093
0.501
465,293,036
124.1
4.58
8.92
1986
 
252,207,346
0.512
492,409,742
131.3
5.83
9.05
1987
 
273,613,065
0.528
518,186,934
138.2
5.23
9.13
1988
 
301,407,791
0.549
549,362,601
146.5
6.02
9.25
1989
 
318,320,493
0.573
555,911,516
148.3
1.19
9.18
1990
 
338,594,370
0.598
566,448,130
151.1
1.90
9.20
1991
 
333,371,632
0.618
539,663,341
143.9
-4.73
8.80
1992
 
356,109,135
0.634
561,509,201
149.8
4.05
8.77
1993
 
364,426,623
0.650
560,656,343
149.5
-0.15
8.60
1994
 
373,397,731
0.664
562,718,866
150.1
0.37
8.38
1995
 
390,641,156
0.678
576,558,072
153.8
2.46
8.36
1996
 
412,852,549
0.692
596,581,866
159.1
3.47
8.33
1997
 
441,171,536
0.704
626,601,809
167.1
5.03
8.34
1998
 
469,693,251
0.710
661,847,409
176.5
5.62
8.23
1999
 
505,520,129
0.720
702,101,539
187.2
6.08
8.29
2000
 
548,638,706
0.738
743,191,333
198.2
5.85
8.31
2001
 
572,190,478
0.753
759,860,931
202.7
2.24
8.33
2002
 
568,727,600
0.763
745,471,419
198.8
-1.89
8.12
2003
 
574,045,385
0.779
736,957,128
196.5
-1.14
7.93
2004
 
600,342,956
0.798
752,055,014
200.6
2.05
7.82
2005
 
620,176,352
0.821
755,143,074
201.4
0.41
7.71
2006
 
664,219,316
0.844
786,616,907
209.8
4.17
7.80
2007
 
712,655,457
0.866
822,861,266
219.5
4.61
8.04
2008
 
717,954,304
0.892
805,152,298
214.7
-2.15
7.96
2009
 
695,908,232
0.889
782,614,042
208.7
-2.80
8.01
2010
 
732,491,226
0.905
809,257,381
215.8
3.40
8.12
2011
 
762,547,281
0.928
821,675,015
219.1
1.53
8.07
2012
 
792,648,274
0.945
838,479,567
223.6
2.05
8.04
2013
 
814,758,168
0.958
850,646,963
226.9
1.45
8.00
2014
 
843,185,214
0.971
868,180,120
231.5
2.06
7.94
2015
 
873,804,878
0.973
898,061,520
239.5
3.44
7.92
2016
 
901,819,007
0.983
917,564,412
244.7
2.17
7.97
2017
 
955,902,952
1.000
955,902,952
254.9
4.18
8.07
2018
 
1,003,389,831
1.020
983,262,449
262.2
2.86
8.07
2019
 
1,040,381,040
1.035
1,005,072,831
268.0
2.22
8.01
2020
 
1,031,853,130
1.046
986,145,296
263.0
-1.88
7.84
2021
 
1,111,161,478
1.090
1,019,404,848
271.9
3.37
7.78
2022
 
1,161,900,185
1.160
1,001,266,931
267.0
-1.78
7.64
Source: Calculations by the New York Regional Economic Analysis Project (NY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_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 Industry Earnings, 1969-2022
 
1969
 
653,665,000
0.189
3,461,658,635
100.0
N
1970
 
693,352,000
0.198
3,507,801,275
101.3
1.33
1971
 
742,094,000
0.206
3,601,523,902
104.0
2.67
1972
 
819,646,000
0.213
3,846,658,532
111.1
6.81
1973
 
918,964,000
0.225
4,092,469,383
118.2
6.39
1974
 
993,909,000
0.248
4,008,829,105
115.8
-2.04
1975
 
1,059,492,000
0.269
3,944,497,394
113.9
-1.60
1976
 
1,173,271,000
0.283
4,141,005,188
119.6
4.98
1977
 
1,303,767,000
0.302
4,320,542,816
124.8
4.34
1978
 
1,476,080,000
0.323
4,573,305,242
132.1
5.85
1979
 
1,648,363,000
0.351
4,690,444,754
135.5
2.56
1980
 
1,784,597,000
0.389
4,584,353,165
132.4
-2.26
1981
 
1,961,173,000
0.424
4,623,772,250
133.6
0.86
1982
 
2,053,729,000
0.448
4,587,185,902
132.5
-0.79
1983
 
2,188,018,000
0.467
4,687,672,466
135.4
2.19
1984
 
2,432,402,000
0.484
5,021,577,654
145.1
7.12
1985
 
2,615,791,000
0.501
5,218,223,348
150.7
3.92
1986
 
2,786,901,000
0.512
5,441,146,840
157.2
4.27
1987
 
2,996,000,000
0.528
5,674,027,499
163.9
4.28
1988
 
3,259,979,000
0.549
5,941,819,010
171.6
4.72
1989
 
3,467,027,000
0.573
6,054,778,994
174.9
1.90
1990
 
3,679,460,000
0.598
6,155,516,520
177.8
1.66
1991
 
3,789,428,000
0.618
6,134,341,309
177.2
-0.34
1992
 
4,059,023,000
0.634
6,400,225,481
184.9
4.33
1993
 
4,237,437,000
0.650
6,519,133,846
188.3
1.86
1994
 
4,456,948,000
0.664
6,716,721,924
194.0
3.03
1995
 
4,674,849,000
0.678
6,899,738,761
199.3
2.72
1996
 
4,956,180,000
0.692
7,161,799,344
206.9
3.80
1997
 
5,288,047,000
0.704
7,510,683,597
217.0
4.87
1998
 
5,707,014,000
0.710
8,041,785,619
232.3
7.07
1999
 
6,098,042,000
0.720
8,469,385,147
244.7
5.32
2000
 
6,598,743,000
0.738
8,938,721,519
258.2
5.54
2001
 
6,865,291,000
0.753
9,117,010,172
263.4
1.99
2002
 
7,001,002,000
0.763
9,176,707,606
265.1
0.65
2003
 
7,243,377,000
0.779
9,299,017,896
268.6
1.33
2004
 
7,674,785,000
0.798
9,614,272,113
277.7
3.39
2005
 
8,039,238,000
0.821
9,788,788,097
282.8
1.82
2006
 
8,519,349,000
0.844
10,089,233,775
291.5
3.07
2007
 
8,866,261,000
0.866
10,237,349,175
295.7
1.47
2008
 
9,014,085,000
0.892
10,108,876,304
292.0
-1.25
2009
 
8,688,913,000
0.889
9,771,497,172
282.3
-3.34
2010
 
9,023,916,000
0.905
9,969,635,637
288.0
2.03
2011
 
9,444,387,000
0.928
10,176,702,513
294.0
2.08
2012
 
9,854,834,000
0.945
10,424,645,101
301.1
2.44
2013
 
10,180,570,000
0.958
10,629,007,841
307.0
1.96
2014
 
10,613,874,000
0.971
10,928,505,678
315.7
2.82
2015
 
11,039,821,000
0.973
11,346,284,134
327.8
3.82
2016
 
11,311,477,000
0.983
11,508,970,941
332.5
1.43
2017
 
11,848,205,000
1.000
11,848,205,000
342.3
2.95
2018
 
12,438,590,000
1.020
12,189,079,542
352.1
2.88
2019
 
12,989,097,000
1.035
12,548,276,062
362.5
2.95
2020
 
13,158,025,000
1.046
12,575,166,053
363.3
0.21
2021
 
14,278,043,000
1.090
13,099,001,844
378.4
4.17
2022
 
15,207,952,000
1.160
13,105,445,395
378.6
0.05
Source: Calculations by the New York Regional Economic Analysis Project (NY-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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