New York County vs. New York
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
New York County vs. New York
New York County:
2022 TPI = $298,260,631K
2022 Percent of State = 20.10%
New York:
2022 TPI = $1,483,802,284K
2022 Percent of U.S. = 6.80%
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 New York County and New York 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.
New York County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
New York County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts New York 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 New York County over time.
When measured in current dollars, New York County's total personal income increased 2,186.23%, from $13,046M in 1970 to $298,261M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 289.42%, from $66,002M in 1970 to $257,026M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks New York County's and New York'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, New York County's real total personal income rose from $64,100M in 1969 to $257,026M in 2022, for a net gain of $192,926M, or 300.98%. In comparison, New York's real total personal income advanced from $442,865M in 1969 to $1,278,666M in 2022, for a net gain of $835,801M, or 188.73%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows New York County's real total personal income 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 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.
New York County's overall real total personal income growth was 300.98% over 1969-2022 outpaced New York's increase of 188.73%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the New York Total: 1969-2022
Total Personal Income as a Percent of the New York Total: 1969-2022
Figure 4.
Another interesting and insightful way of contrasting the total personal income growth of New York County is to trace its individual percentage contributions to New York'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 New York's total personal income, while a declining share shows it grew more slowly.
In 1969, New York County's total personal income comprised 14.47% of New York's total personal income, while in 2022 it equated to 20.10% thereby yielding a +5.63% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+5.63%
=
20.10%
-
14.47%
 
   
New York County Real Total Personal Income:
Annual Percent Change, 1970-2022
New York County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of New York 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, New York County's real total personal income grew at an annual rate of 2.78% over 1970-2022. The county posted its highest growth in 1988 (14.62%) and recorded its lowest growth in 1991 (-10.55%). In 2022, New York County's real total personal income declined by -8.35%
New York County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
New York 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 New York 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, New York County's annual real total personal income growth rate averaged 0.61%. It averaged 5.47% throughout the 1980s, 4.15% throughout the 1990s, 1.84% during the 2000s, 3.38% throughout the 2010s, -2.34% 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 New York County noted in the previous graph with the corresponding decade averages for New York and the nation. As the chart reveals, New York County's average annual real total personal income growth recorded under New York's average throughout the 1970s (0.61% vs. 1.10%), topped New York's average in the 1980s (5.47% vs. 3.64%), exceeded New York's average in the 1990s (4.15% vs. 2.30%), recorded above New York's average during the 2000s (1.84% vs. 1.48%), recorded above New York's average throughout the 2010s (3.38% vs. 2.45%), and posted below New York's average over the 3 year period of the current decade, 2020-2022 (-2.34% vs. -0.35%).
Finally, relative to nationwide real total personal income growth trends, New York County posted below the nation over the 1970s (0.61% vs. 3.50%), surpassed the nation over the 1980s (5.47% vs. 3.16%), topped the nation over the 1990s (4.15% vs. 3.27%), recorded underneath the nation throughout the 2000s (1.84% vs. 2.06%), led the nation over the 2010s (3.38% vs. 2.72%), and lagged the nation over 2020-2022 (-2.34% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.78
0.61
5.47
4.15
1.84
3.38
-2.34
-8.35
 
2.05
1.10
3.64
2.30
1.48
2.45
-0.35
-7.58
 
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.

   
 
New York County:
Total Personal Income, 1969-2022
 
1969
 
12,104,003
0.189
64,100,000
100.0
N
14.47
1970
 
13,045,982
0.198
66,002,135
103.0
2.97
14.51
1971
 
13,882,081
0.206
67,372,390
105.1
2.08
14.44
1972
 
14,734,137
0.213
69,148,381
107.9
2.64
14.33
1973
 
15,287,643
0.225
68,081,242
106.2
-1.54
13.95
1974
 
16,393,047
0.248
66,119,659
103.2
-2.88
13.88
1975
 
17,334,898
0.269
64,537,967
100.7
-2.39
13.61
1976
 
18,455,953
0.283
65,139,424
101.6
0.93
13.67
1977
 
20,143,211
0.302
66,752,422
104.1
2.48
13.83
1978
 
22,210,631
0.323
68,814,695
107.4
3.09
14.01
1979
 
23,870,464
0.351
67,923,808
106.0
-1.29
13.77
1980
 
25,971,131
0.389
66,715,811
104.1
-1.78
13.43
1981
 
28,642,932
0.424
67,530,195
105.4
1.22
13.30
1982
 
30,828,806
0.448
68,858,873
107.4
1.97
13.17
1983
 
34,424,613
0.467
73,752,277
115.1
7.11
13.62
1984
 
37,318,438
0.484
77,042,131
120.2
4.46
13.37
1985
 
41,292,741
0.501
82,374,603
128.5
6.92
13.81
1986
 
45,200,565
0.512
88,249,605
137.7
7.13
14.16
1987
 
51,197,458
0.528
96,961,210
151.3
9.87
15.09
1988
 
60,976,931
0.549
111,139,945
173.4
14.62
16.33
1989
 
65,674,401
0.573
114,693,074
178.9
3.20
16.27
1990
 
74,505,188
0.598
124,642,724
194.5
8.68
17.23
1991
 
68,876,165
0.618
111,497,013
173.9
-10.55
15.90
1992
 
76,096,751
0.634
119,988,570
187.2
7.62
16.65
1993
 
79,267,639
0.650
121,950,214
190.2
1.63
16.88
1994
 
81,941,907
0.664
123,488,316
192.6
1.26
16.92
1995
 
89,371,528
0.678
131,905,907
205.8
6.82
17.51
1996
 
97,801,953
0.692
141,326,175
220.5
7.14
18.21
1997
 
104,187,434
0.704
147,978,800
230.9
4.71
18.37
1998
 
113,430,779
0.710
159,835,951
249.4
8.01
18.90
1999
 
122,202,960
0.720
169,723,976
264.8
6.19
19.24
2000
 
134,011,390
0.738
181,533,134
283.2
6.96
19.61
2001
 
144,984,452
0.753
192,537,319
300.4
6.06
20.44
2002
 
141,193,727
0.763
185,072,587
288.7
-3.88
19.95
2003
 
137,758,349
0.779
176,853,607
275.9
-4.44
19.20
2004
 
139,777,238
0.798
175,100,202
273.2
-0.99
18.65
2005
 
149,667,224
0.821
182,238,757
284.3
4.08
19.25
2006
 
170,388,967
0.844
201,787,029
314.8
10.73
20.38
2007
 
191,113,956
0.866
220,668,025
344.3
9.36
21.24
2008
 
187,561,254
0.892
210,341,207
328.1
-4.68
20.38
2009
 
178,168,489
0.889
200,367,167
312.6
-4.74
19.66
2010
 
187,081,749
0.905
206,688,191
322.4
3.15
19.83
2011
 
206,641,782
0.928
222,664,736
347.4
7.73
20.76
2012
 
217,931,029
0.945
230,531,903
359.6
3.53
20.96
2013
 
225,188,723
0.958
235,107,926
366.8
1.98
21.41
2014
 
236,295,582
0.971
243,300,195
379.6
3.48
21.68
2015
 
244,127,525
0.973
250,904,454
391.4
3.13
21.47
2016
 
259,538,845
0.983
264,070,291
412.0
5.25
22.06
2017
 
285,915,130
1.000
285,915,130
446.0
8.27
22.77
2018
 
293,583,447
1.020
287,694,344
448.8
0.62
22.61
2019
 
287,873,413
1.035
278,103,632
433.9
-3.33
21.43
2020
 
272,490,074
1.046
260,419,624
406.3
-6.36
19.39
2021
 
305,682,670
1.090
280,440,244
437.5
7.69
20.27
2022
 
298,260,631
1.160
257,025,957
401.0
-8.35
20.10
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_300_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 Personal Income, 1969-2022
 
1969
 
83,626,257
0.189
442,865,313
100.0
N
10.57
1970
 
89,895,425
0.198
454,798,265
102.7
2.69
10.51
1971
 
96,121,001
0.206
466,493,574
105.3
2.57
10.40
1972
 
102,833,594
0.213
482,605,566
109.0
3.45
10.12
1973
 
109,571,703
0.225
487,961,269
110.2
1.11
9.67
1974
 
118,064,617
0.248
476,201,416
107.5
-2.41
9.48
1975
 
127,413,860
0.269
474,362,844
107.1
-0.39
9.35
1976
 
134,980,837
0.283
476,408,559
107.6
0.43
9.02
1977
 
145,640,377
0.302
482,636,456
109.0
1.31
8.82
1978
 
158,583,699
0.323
491,336,284
110.9
1.80
8.55
1979
 
173,371,724
0.351
493,332,169
111.4
0.41
8.36
1980
 
193,336,283
0.389
496,650,953
112.1
0.67
8.36
1981
 
215,436,642
0.424
507,925,597
114.7
2.27
8.31
1982
 
234,154,698
0.448
523,005,289
118.1
2.97
8.43
1983
 
252,718,689
0.467
541,431,762
122.3
3.52
8.51
1984
 
279,066,436
0.484
576,119,317
130.1
6.41
8.52
1985
 
298,925,027
0.501
596,323,466
134.7
3.51
8.52
1986
 
319,272,979
0.512
623,348,716
140.8
4.53
8.59
1987
 
339,348,059
0.528
642,680,313
145.1
3.10
8.63
1988
 
373,424,007
0.549
680,623,361
153.7
5.90
8.76
1989
 
403,530,094
0.573
704,720,655
159.1
3.54
8.76
1990
 
432,353,696
0.598
723,301,875
163.3
2.64
8.83
1991
 
433,087,824
0.618
701,084,314
158.3
-3.07
8.54
1992
 
457,070,947
0.634
720,704,741
162.7
2.80
8.45
1993
 
469,679,135
0.650
722,583,285
163.2
0.26
8.32
1994
 
484,265,850
0.664
729,799,641
164.8
1.00
8.16
1995
 
510,311,719
0.678
753,183,161
170.1
3.20
8.13
1996
 
536,942,300
0.692
775,894,542
175.2
3.02
8.06
1997
 
567,116,455
0.704
805,483,056
181.9
3.81
8.02
1998
 
600,087,225
0.710
845,586,294
190.9
4.98
7.91
1999
 
635,242,742
0.720
882,269,332
199.2
4.34
7.96
2000
 
683,214,301
0.738
925,488,745
209.0
4.90
7.93
2001
 
709,417,581
0.753
942,096,599
212.7
1.79
7.89
2002
 
707,561,130
0.763
927,450,328
209.4
-1.55
7.74
2003
 
717,555,330
0.779
921,194,611
208.0
-0.67
7.57
2004
 
749,469,308
0.798
938,866,935
212.0
1.92
7.49
2005
 
777,653,227
0.821
946,891,067
213.8
0.85
7.38
2006
 
836,022,632
0.844
990,078,910
223.6
4.56
7.40
2007
 
899,609,888
0.866
1,038,726,533
234.5
4.91
7.54
2008
 
920,456,535
0.892
1,032,249,114
233.1
-0.62
7.41
2009
 
906,188,251
0.889
1,019,093,635
230.1
-1.27
7.52
2010
 
943,392,743
0.905
1,042,261,687
235.3
2.27
7.52
2011
 
995,231,357
0.928
1,072,401,359
242.2
2.89
7.48
2012
 
1,039,791,605
0.945
1,099,912,841
248.4
2.57
7.48
2013
 
1,051,798,103
0.958
1,098,128,129
248.0
-0.16
7.48
2014
 
1,090,000,795
0.971
1,122,312,162
253.4
2.20
7.38
2015
 
1,137,082,289
0.973
1,168,647,457
263.9
4.13
7.35
2016
 
1,176,654,694
0.983
1,197,198,622
270.3
2.44
7.41
2017
 
1,255,776,700
1.000
1,255,776,700
283.6
4.89
7.54
2018
 
1,298,669,006
1.020
1,272,618,505
287.4
1.34
7.41
2019
 
1,343,066,325
1.035
1,297,485,654
293.0
1.95
7.32
2020
 
1,405,028,826
1.046
1,342,790,487
303.2
3.49
7.16
2021
 
1,508,135,064
1.090
1,383,597,457
312.4
3.04
7.05
2022
 
1,483,802,284
1.160
1,278,665,912
288.7
-7.58
6.80
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_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 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_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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