Elk County vs. Pennsylvania
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Elk County vs. Pennsylvania
Elk County:
2022 PCI = $50,208
2022 Percent of State = 77.83%
Pennsylvania:
2022 PCI = $64,506
Per Capita Income (PCI) is one of the most widely used indicators for gauging the economic performance and changing fortunes of local economies. It is used as a yardstick to assess the economic well being of a region's residents and the quality of consumer markets. It serves as a barometer for calibrating the economic performance of a region over time and to judge differences in relative economic prosperity between regions. Shifting trends in local per capita income growth have important social and political ramifications and significant implications in formulating local economic development strategies and initiatives.
Data Definition:
This measure of income is calculated as the total personal income of the residents of an area divided by the population of the area. Per capita personal income is often used as an indicator of consumers' purchasing power and of the economic well-being of the residents of an area.
Personal income is measured as a flow throughout the year, while the measurement of population is at one point in mid-year. Therefore, per capita income is distorted if a significant change in population occurs during the year.
For smaller counties in particular, per capita income in any given year may be exceptionally high or low for the short run because of unusual local conditions, such as a bumper crop, a catastrophe, or a major construction project as the building of a dam or nuclear power plant.
Farm incomes are notorious for being especially volatile year-to-year, owing to changing weather, commodity market conditions, and alterations in government programs. Therefore, the per capita income of farm-dependent counties may exhibit sharp fluctuations over time.
The presence of large institutional populations--such as residents attending a local college or the residents of a local prison or state mental institution--can significantly lower the per capita income estimates of an area. Such results may not reflect the relative economic well being of the non-institutional population and may mislead if care is not given to their interpretation.
Elk County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Elk County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Elk County's annual per capita 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 Elk County over time.
When measured in current dollars, Elk County's per capita personal income increased 1,310.75%, from $3,559 in 1970 to $50,208 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 140.30%, from $18,006 in 1970 to $43,267 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 traces Elk County's and Pennsylvania's annual real per capita personal income for the period 1969-2022 to illustrate real per capita personal income patterns over time. During this 54-year period, Elk County's real per capita personal income rose from $18,011 in 1969 to $43,267 in 2022, for a net gain of $25,256, or 140.23%. In comparison, Pennsylvania's real per capita personal income advanced from $20,453 in 1969 to $55,588 in 2022, for a net advance of $35,135, or 171.78%.
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Elk County's real per capita personal income growth in a broader context by offering direct comparisons across time with Pennsylvania, the United States. The growth indices shown here express each region's real per capita personal income in 1969 as a base figure of 100, and the real per capita personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real per capita personal income growth between regions that may differ vastly in size.
Elk County's overall real per capita personal income growth was 140.23% over 1969-2022 trailed Pennsylvania's increase of 171.78%, and fell below the United States' increase of 171.04%.
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 depicts the trends for per capita personal income relative to the national average by tracing Elk County and Pennsylvania per capita personal income as a percent of the national average over 1969-2022.
In 1969, Elk County's per capita personal income amounted to 86.52% of the national average; in 2022, it approximated 76.69%. Similarly, in 1969, Pennsylvania's per capita personal income totaled 98.26% of the national average; in 2022, it consisted of 98.53%.
Elk County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Elk County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 displays the short-run pattern of Elk County's real per capita 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, Elk County's real per capita personal income grew at an annual rate of 1.71% over 1970-2022. The county recorded its highest growth in 1976 (9.24%) and posted its lowest growth in 2022 (-7.25%). In 2022, Elk County's real per capita personal income declined by -7.25%
Elk County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Elk County Real Per Capita 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 depicts the annual percent change in Elk County's real per capita 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, Elk County's annual real per capita personal income growth rate averaged 3.00%. It averaged 1.73% during the 1980s, 2.00% during the 1990s, 1.78% in the 2000s, 0.84% in the 2010s, -0.92% thus far this decade (2020-2022).
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Real Per Capita Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Elk County noted in the previous graph with the corresponding decade averages for Pennsylvania and the nation. As the chart reveals, Elk County's average annual real per capita personal income growth outgained Pennsylvania's average throughout the 1970s (3.00% vs. 2.46%), lagged Pennsylvania's average throughout the 1980s (1.73% vs. 2.20%), posted below Pennsylvania's average in the 1990s (2.00% vs. 2.01%), led Pennsylvania's average during the 2000s (1.78% vs. 1.44%), posted below Pennsylvania's average in the 2010s (0.84% vs. 1.78%), and lagged Pennsylvania's average over the 3 year period of the current decade, 2020-2022 (-0.92% vs. 0.95%).
Finally, relative to nationwide real per capita personal income growth trends, Elk County led the nation over the 1970s (3.00% vs. 2.37%), fell under the nation in the 1980s (1.73% vs. 2.19%), fell below the nation during the 1990s (2.00% vs. 2.01%), recorded above the nation throughout the 2000s (1.78% vs. 1.10%), fell under the nation during the 2010s (0.84% vs. 1.97%), and fell below the nation over 2020-2022 (-0.92% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
1.71
3.00
1.73
2.00
1.78
0.84
-0.92
-7.25
 
1.92
2.46
2.20
2.01
1.44
1.78
0.95
-5.39
 
1.92
2.37
2.19
2.01
1.10
1.97
1.78
-4.55
 
   

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

   
 
Elk County:
Per Capita Personal Income, 1969-2022
 
1969
 
3,401
0.189
18,011
100.0
N
88.06
86.52
1970
 
3,559
0.198
18,006
100.0
-0.03
86.06
84.78
1971
 
3,707
0.206
17,989
99.9
-0.09
84.98
82.91
1972
 
3,984
0.213
18,699
103.8
3.95
83.83
82.04
1973
 
4,487
0.225
19,984
111.0
6.87
85.98
83.67
1974
 
5,005
0.248
20,189
112.1
1.02
87.16
85.77
1975
 
5,241
0.269
19,511
108.3
-3.35
83.73
82.87
1976
 
6,039
0.283
21,313
118.3
9.24
88.31
87.83
1977
 
6,826
0.302
22,621
125.6
6.14
90.95
90.83
1978
 
7,526
0.323
23,319
129.5
3.08
90.87
90.07
1979
 
8,455
0.351
24,059
133.6
3.17
92.35
91.58
1980
 
9,138
0.389
23,473
130.3
-2.44
91.03
89.73
1981
 
10,159
0.424
23,951
133.0
2.03
91.69
89.97
1982
 
11,109
0.448
24,812
137.8
3.60
93.77
92.65
1983
 
11,672
0.467
25,007
138.8
0.79
93.86
91.90
1984
 
12,813
0.484
26,451
146.9
5.77
95.35
92.25
1985
 
12,993
0.501
25,919
143.9
-2.01
90.87
88.11
1986
 
13,084
0.512
25,545
141.8
-1.45
87.10
84.51
1987
 
13,965
0.528
26,449
146.8
3.54
88.29
86.06
1988
 
15,024
0.549
27,384
152.0
3.54
87.67
86.14
1989
 
16,294
0.573
28,456
158.0
3.91
87.95
87.33
1990
 
16,962
0.598
28,377
157.6
-0.28
86.69
86.46
1991
 
17,651
0.618
28,574
158.6
0.70
87.09
88.04
1992
 
18,981
0.634
29,928
166.2
4.74
89.37
90.05
1993
 
20,415
0.650
31,407
174.4
4.94
93.17
94.02
1994
 
21,559
0.664
32,490
180.4
3.45
95.43
95.60
1995
 
22,070
0.678
32,573
180.9
0.26
93.69
93.61
1996
 
22,531
0.692
32,558
180.8
-0.05
91.22
91.13
1997
 
23,746
0.704
33,726
187.3
3.59
91.56
91.59
1998
 
24,202
0.710
34,104
189.4
1.12
88.62
88.03
1999
 
24,944
0.720
34,644
192.4
1.58
87.78
87.24
2000
 
25,997
0.738
35,216
195.5
1.65
85.69
85.10
2001
 
26,344
0.753
34,985
194.2
-0.66
83.47
83.51
2002
 
27,071
0.763
35,484
197.0
1.43
84.37
85.13
2003
 
27,895
0.779
35,811
198.8
0.92
84.36
85.41
2004
 
29,940
0.798
37,506
208.2
4.73
85.89
87.59
2005
 
31,148
0.821
37,927
210.6
1.12
86.11
87.33
2006
 
32,972
0.844
39,048
216.8
2.96
87.22
87.13
2007
 
35,268
0.866
40,722
226.1
4.29
88.15
89.09
2008
 
37,832
0.892
42,427
235.6
4.19
91.23
92.60
2009
 
36,673
0.889
41,243
229.0
-2.79
90.67
93.30
2010
 
38,382
0.905
42,405
235.4
2.82
91.17
94.64
2011
 
39,146
0.928
42,181
234.2
-0.53
88.73
91.79
2012
 
39,097
0.945
41,357
229.6
-1.95
85.67
88.38
2013
 
38,620
0.958
40,321
223.9
-2.51
84.13
86.98
2014
 
40,967
0.971
42,181
234.2
4.61
86.30
88.51
2015
 
41,647
0.973
42,803
237.7
1.48
84.49
86.66
2016
 
42,513
0.983
43,255
240.2
1.06
84.06
86.81
2017
 
43,559
1.000
43,559
241.8
0.70
83.95
85.40
2018
 
45,893
1.020
44,973
249.7
3.25
84.26
86.09
2019
 
46,302
1.035
44,730
248.4
-0.54
82.50
83.36
2020
 
50,253
1.046
48,027
266.7
7.37
83.31
84.95
2021
 
50,850
1.090
46,651
259.0
-2.86
79.40
78.92
2022
 
50,208
1.160
43,267
240.2
-7.25
77.83
76.69
Source: Calculations by the Pennsylvania Regional Economic Analysis Project (PA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PSN
 
   

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

   
 
Pennsylvania:
Per Capita Personal Income, 1969-2022
 
1969
 
3,862
0.189
20,453
100.0
N
98.26
1970
 
4,135
0.198
20,921
102.3
2.29
98.51
1971
 
4,362
0.206
21,168
103.5
1.18
97.56
1972
 
4,753
0.213
22,305
109.1
5.37
97.86
1973
 
5,219
0.225
23,244
113.6
4.21
97.32
1974
 
5,743
0.248
23,163
113.2
-0.35
98.41
1975
 
6,259
0.269
23,304
113.9
0.61
98.98
1976
 
6,838
0.283
24,133
118.0
3.56
99.46
1977
 
7,505
0.302
24,871
121.6
3.06
99.86
1978
 
8,283
0.323
25,662
125.5
3.18
99.12
1979
 
9,156
0.351
26,053
127.4
1.52
99.17
1980
 
10,038
0.389
25,786
126.1
-1.02
98.57
1981
 
11,079
0.424
26,121
127.7
1.30
98.12
1982
 
11,847
0.448
26,461
129.4
1.30
98.81
1983
 
12,436
0.467
26,643
130.3
0.69
97.91
1984
 
13,437
0.484
27,740
135.6
4.12
96.74
1985
 
14,298
0.501
28,523
139.5
2.82
96.96
1986
 
15,022
0.512
29,329
143.4
2.83
97.03
1987
 
15,818
0.528
29,958
146.5
2.14
97.48
1988
 
17,137
0.549
31,235
152.7
4.26
98.25
1989
 
18,526
0.573
32,353
158.2
3.58
99.29
1990
 
19,566
0.598
32,733
160.0
1.17
99.73
1991
 
20,267
0.618
32,808
160.4
0.23
101.08
1992
 
21,238
0.634
33,489
163.7
2.07
100.77
1993
 
21,911
0.650
33,709
164.8
0.66
100.91
1994
 
22,592
0.664
34,047
166.5
1.00
100.18
1995
 
23,556
0.678
34,767
170.0
2.11
99.91
1996
 
24,699
0.692
35,691
174.5
2.66
99.89
1997
 
25,935
0.704
36,836
180.1
3.21
100.04
1998
 
27,309
0.710
38,482
188.1
4.47
99.33
1999
 
28,416
0.720
39,466
193.0
2.56
99.38
2000
 
30,339
0.738
41,098
200.9
4.13
99.31
2001
 
31,563
0.753
41,915
204.9
1.99
100.05
2002
 
32,084
0.763
42,055
205.6
0.34
100.89
2003
 
33,066
0.779
42,451
207.5
0.94
101.25
2004
 
34,860
0.798
43,669
213.5
2.87
101.98
2005
 
36,173
0.821
44,046
215.3
0.86
101.41
2006
 
37,803
0.844
44,769
218.9
1.64
99.89
2007
 
40,008
0.866
46,195
225.9
3.19
101.06
2008
 
41,467
0.892
46,503
227.4
0.67
101.50
2009
 
40,446
0.889
45,485
222.4
-2.19
102.90
2010
 
42,098
0.905
46,510
227.4
2.25
103.80
2011
 
44,120
0.928
47,541
232.4
2.22
103.45
2012
 
45,638
0.945
48,277
236.0
1.55
103.17
2013
 
45,904
0.958
47,926
234.3
-0.73
103.39
2014
 
47,469
0.971
48,876
239.0
1.98
102.55
2015
 
49,293
0.973
50,662
247.7
3.65
102.57
2016
 
50,574
0.983
51,457
251.6
1.57
103.27
2017
 
51,888
1.000
51,888
253.7
0.84
101.73
2018
 
54,468
1.020
53,376
261.0
2.87
102.17
2019
 
56,125
1.035
54,220
265.1
1.58
101.04
2020
 
60,320
1.046
57,648
281.9
6.32
101.97
2021
 
64,042
1.090
58,754
287.3
1.92
99.40
2022
 
64,506
1.160
55,588
271.8
-5.39
98.53
Source: Calculations by the Pennsylvania Regional Economic Analysis Project (PA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_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:
Per Capita Personal Income, 1969-2022
 
1969
 
3,931
0.189
20,816
100.0
N
1970
 
4,198
0.198
21,238
102.0
2.03
1971
 
4,471
0.206
21,697
104.2
2.16
1972
 
4,857
0.213
22,793
109.5
5.05
1973
 
5,363
0.225
23,883
114.7
4.78
1974
 
5,836
0.248
23,537
113.1
-1.45
1975
 
6,324
0.269
23,544
113.1
0.03
1976
 
6,875
0.283
24,265
116.6
3.07
1977
 
7,516
0.302
24,906
119.6
2.64
1978
 
8,356
0.323
25,889
124.4
3.95
1979
 
9,232
0.351
26,271
126.2
1.47
1980
 
10,184
0.389
26,160
125.7
-0.42
1981
 
11,291
0.424
26,621
127.9
1.76
1982
 
11,990
0.448
26,781
128.7
0.60
1983
 
12,701
0.467
27,210
130.7
1.61
1984
 
13,889
0.484
28,674
137.7
5.38
1985
 
14,746
0.501
29,417
141.3
2.59
1986
 
15,482
0.512
30,227
145.2
2.75
1987
 
16,228
0.528
30,733
147.6
1.67
1988
 
17,442
0.549
31,790
152.7
3.44
1989
 
18,658
0.573
32,584
156.5
2.50
1990
 
19,619
0.598
32,821
157.7
0.73
1991
 
20,050
0.618
32,457
155.9
-1.11
1992
 
21,077
0.634
33,234
159.7
2.39
1993
 
21,713
0.650
33,405
160.5
0.51
1994
 
22,552
0.664
33,986
163.3
1.74
1995
 
23,577
0.678
34,798
167.2
2.39
1996
 
24,725
0.692
35,729
171.6
2.67
1997
 
25,925
0.704
36,822
176.9
3.06
1998
 
27,493
0.710
38,740
186.1
5.21
1999
 
28,592
0.720
39,711
190.8
2.51
2000
 
30,551
0.738
41,384
198.8
4.21
2001
 
31,548
0.753
41,895
201.3
1.23
2002
 
31,801
0.763
41,684
200.2
-0.50
2003
 
32,659
0.779
41,928
201.4
0.59
2004
 
34,183
0.798
42,821
205.7
2.13
2005
 
35,669
0.821
43,432
208.6
1.43
2006
 
37,843
0.844
44,816
215.3
3.19
2007
 
39,588
0.866
45,710
219.6
1.99
2008
 
40,854
0.892
45,816
220.1
0.23
2009
 
39,307
0.889
44,204
212.4
-3.52
2010
 
40,557
0.905
44,808
215.3
1.36
2011
 
42,649
0.928
45,956
220.8
2.56
2012
 
44,237
0.945
46,795
224.8
1.83
2013
 
44,401
0.958
46,357
222.7
-0.94
2014
 
46,287
0.971
47,659
229.0
2.81
2015
 
48,060
0.973
49,394
237.3
3.64
2016
 
48,971
0.983
49,826
239.4
0.88
2017
 
51,004
1.000
51,004
245.0
2.36
2018
 
53,309
1.020
52,240
251.0
2.42
2019
 
55,547
1.035
53,662
257.8
2.72
2020
 
59,153
1.046
56,533
271.6
5.35
2021
 
64,430
1.090
59,110
284.0
4.56
2022
 
65,470
1.160
56,419
271.0
-4.55
Source: Calculations by the Pennsylvania Regional Economic Analysis Project (PA-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_700_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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