Elk County vs. Pennsylvania
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2019
Introduction
Elk County:
2019 PCI = $49,141
2019 Percent of State = 84.7%
Pennsylvania:
2019 PCI = $58,032
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, 1970-2019
Current vs. Constant Dollars
Elk County Per Capita Personal Income, 1970-2019
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Elk County's annual per capita personal income over 1970-2019 in current and constant (2012) 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 1,280.8%, from $3,559 in 1970 to $49,141 in 2019. When measured in constant 2012 dollars to adjust for inflation, it advanced 163.3%, from $16,987 in 1970 to $44,734 in 2019.
Real Per Capita Personal Income, 1969-2019
Real Per Capita Personal Income, 1969-2019
Figure 2.
Figure 2 traces Elk County's and Pennsylvania's annual real per capita personal income for the period 1969-2019 to illustrate real per capita personal income patterns over time. During this 51-year period, Elk County's real per capita personal income rose from $16,992 in 1969 to $44,734 in 2019, for a net gain of $27,742, or 163.3%. In comparison, Pennsylvania's real per capita personal income increased from $19,297 in 1969 to $52,828 in 2019, for a net gain of $33,531, or 173.8%.
Real Per Capita Personal Income Indices (1969=100): 1969-2019
Real Per Capita Personal Income Indices (1969=100): 1969-2019
Figure 3.
Figure 3 portrays 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 163.3% over 1969-2019 trailed Pennsylvania's increase of 173.8%, and topped the United States' increase of 161.9%.
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2019
Per Capita Personal Income as a Percent of the U.S. Average: 1969-2019
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 1969-2019.
In 1969, Elk County's per capita personal income amounted to 86.5% of the national average; in 2019, it approximated 87.0%. Similarly, in 1969, Pennsylvania's per capita personal income totaled 98.3% of the national average; in 2019, it consisted of 102.7%.
Elk County Real Per Capita Personal Income:
Annual Percent Change, 1970-2019
Elk County Real Per Capita Personal Income:
Annual Percent Change, 1970-2019
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 1970-2019. The average annual percent change for the entire 50-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 1.99% over 1970-2019. The county posted its highest growth in 1976 (9.23%) and posted its lowest growth in 1975 (-3.35%). In 2019, Elk County's real per capita personal income declined by -0.15%
Elk County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2019
Elk County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2019
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 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, and 2010-2019.
During the 1970s, Elk County's annual real per capita personal income growth rate averaged 3.00%. It averaged 1.74% in the 1980s, 2.02% during the 1990s, 1.75% in the 2000s, and 1.43% thus far this decade (2010 to 2019).
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 recorded above Pennsylvania's average in the 1970s (3.00% vs. 2.46%), fell below Pennsylvania's average in the 1980s (1.74% vs. 2.21%), led Pennsylvania's average during the 1990s (2.02% vs. 2.01%), topped Pennsylvania's average during the 2000s (1.75% vs. 1.44%), and fell below Pennsylvania's average over the 10 year period of the last decade, 2010-2019 (1.43% vs. 2.10%).
Finally, relative to nationwide real per capita personal income growth trends, Elk County exceeded the nation in the 1970s (3.00% vs. 2.37%), recorded underneath the nation over the 1980s (1.74% vs. 2.20%), trailed the nation throughout the 1990s (2.02% vs. 2.03%), led the nation in the 2000s (1.75% vs. 1.09%), and lagged the nation over 2010-2019 (1.43% vs. 2.11%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
1.99
3.00
1.74
2.02
1.75
1.43
-0.15
 
2.05
2.46
2.21
2.01
1.44
2.10
2.05
 
1.96
2.37
2.20
2.03
1.09
2.11
1.93
 
   

Tip: 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, 1969-2019
 
1969
 
3,401
0.200
16,992
100.0
N
88.06
86.52
1970
 
3,559
0.210
16,987
100.0
-0.03
86.06
84.78
1971
 
3,707
0.218
16,971
99.9
-0.10
84.98
82.91
1972
 
3,984
0.226
17,641
103.8
3.95
83.83
82.04
1973
 
4,487
0.238
18,853
111.0
6.87
85.98
83.67
1974
 
5,005
0.263
19,046
112.1
1.02
87.16
85.77
1975
 
5,241
0.285
18,408
108.3
-3.35
83.73
82.87
1976
 
6,039
0.300
20,108
118.3
9.23
88.31
87.83
1977
 
6,826
0.320
21,341
125.6
6.14
90.95
90.83
1978
 
7,526
0.342
22,000
129.5
3.09
90.87
90.07
1979
 
8,455
0.373
22,697
133.6
3.17
92.35
91.58
1980
 
9,135
0.413
22,138
130.3
-2.46
91.03
89.73
1981
 
10,161
0.450
22,602
133.0
2.10
91.65
89.93
1982
 
11,122
0.475
23,437
137.9
3.69
93.79
92.69
1983
 
11,669
0.495
23,586
138.8
0.64
93.85
91.90
1984
 
12,825
0.513
24,980
147.0
5.91
95.32
92.23
1985
 
13,001
0.531
24,468
144.0
-2.05
90.86
88.11
1986
 
13,090
0.543
24,112
141.9
-1.45
87.09
84.51
1987
 
14,022
0.560
25,055
147.5
3.91
88.27
86.08
1988
 
15,035
0.582
25,855
152.2
3.19
87.66
86.13
1989
 
16,309
0.607
26,872
158.1
3.94
87.95
87.32
1990
 
16,963
0.634
26,774
157.6
-0.36
86.70
86.45
1991
 
17,632
0.655
26,931
158.5
0.58
87.10
88.03
1992
 
18,992
0.672
28,254
166.3
4.91
89.37
90.05
1993
 
20,433
0.689
29,660
174.6
4.98
93.17
94.02
1994
 
21,582
0.703
30,687
180.6
3.46
95.43
95.60
1995
 
22,094
0.718
30,768
181.1
0.26
93.69
93.59
1996
 
22,572
0.733
30,774
181.1
0.02
91.22
91.12
1997
 
23,799
0.746
31,892
187.7
3.63
91.65
91.56
1998
 
24,240
0.752
32,227
189.7
1.05
88.70
87.96
1999
 
25,008
0.763
32,760
192.8
1.65
87.90
87.21
2000
 
26,090
0.782
33,348
196.3
1.80
85.84
85.10
2001
 
26,395
0.797
33,103
194.8
-0.74
83.66
83.56
2002
 
27,106
0.808
33,552
197.5
1.36
84.53
85.15
2003
 
27,940
0.824
33,925
199.7
1.11
84.56
85.50
2004
 
30,023
0.844
35,568
209.3
4.84
86.10
87.66
2005
 
31,306
0.868
36,061
212.2
1.39
86.24
87.33
2006
 
33,172
0.892
37,199
218.9
3.16
87.22
87.03
2007
 
35,443
0.914
38,761
228.1
4.20
88.12
88.95
2008
 
37,833
0.942
40,171
236.4
3.64
91.14
92.49
2009
 
36,583
0.941
38,879
228.8
-3.22
90.57
93.12
2010
 
38,447
0.957
40,172
236.4
3.33
91.44
94.82
2011
 
39,601
0.981
40,356
237.5
0.46
89.59
92.66
2012
 
39,791
1.000
39,791
234.2
-1.40
86.47
89.21
2013
 
39,742
1.013
39,214
230.8
-1.45
85.63
88.59
2014
 
42,322
1.028
41,158
242.2
4.96
87.38
89.91
2015
 
43,260
1.030
41,982
247.1
2.00
85.82
88.25
2016
 
44,416
1.041
42,658
251.0
1.61
85.72
88.81
2017
 
45,966
1.060
43,370
255.2
1.67
86.23
88.20
2018
 
48,492
1.082
44,801
263.7
3.30
86.54
88.80
2019
 
49,141
1.099
44,734
263.3
-0.15
84.68
86.99
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 2020
REAP_PI_CA1400_700_PSN
 
   

Tip: 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, 1969-2019
 
1969
 
3,862
0.200
19,297
100.0
N
98.26
1970
 
4,135
0.210
19,738
102.3
2.29
98.51
1971
 
4,362
0.218
19,970
103.5
1.18
97.56
1972
 
4,753
0.226
21,043
109.1
5.37
97.86
1973
 
5,219
0.238
21,928
113.6
4.21
97.32
1974
 
5,743
0.263
21,853
113.2
-0.34
98.41
1975
 
6,259
0.285
21,986
113.9
0.61
98.98
1976
 
6,838
0.300
22,768
118.0
3.56
99.46
1977
 
7,505
0.320
23,464
121.6
3.05
99.86
1978
 
8,283
0.342
24,211
125.5
3.18
99.12
1979
 
9,155
0.373
24,577
127.4
1.51
99.17
1980
 
10,034
0.413
24,318
126.0
-1.05
98.57
1981
 
11,088
0.450
24,662
127.8
1.41
98.12
1982
 
11,859
0.475
24,990
129.5
1.33
98.83
1983
 
12,433
0.495
25,131
130.2
0.56
97.92
1984
 
13,455
0.513
26,206
135.8
4.28
96.75
1985
 
14,308
0.531
26,928
139.5
2.75
96.97
1986
 
15,031
0.543
27,687
143.5
2.82
97.04
1987
 
15,885
0.560
28,384
147.1
2.52
97.52
1988
 
17,150
0.582
29,493
152.8
3.91
98.25
1989
 
18,543
0.607
30,553
158.3
3.60
99.29
1990
 
19,566
0.634
30,883
160.0
1.08
99.72
1991
 
20,244
0.655
30,920
160.2
0.12
101.07
1992
 
21,250
0.672
31,614
163.8
2.25
100.76
1993
 
21,930
0.689
31,833
165.0
0.69
100.91
1994
 
22,616
0.703
32,157
166.6
1.02
100.18
1995
 
23,583
0.718
32,841
170.2
2.13
99.90
1996
 
24,743
0.733
33,735
174.8
2.72
99.89
1997
 
25,967
0.746
34,798
180.3
3.15
99.90
1998
 
27,327
0.752
36,332
188.3
4.41
99.17
1999
 
28,451
0.763
37,270
193.1
2.58
99.22
2000
 
30,393
0.782
38,849
201.3
4.24
99.14
2001
 
31,551
0.797
39,569
205.1
1.85
99.88
2002
 
32,066
0.808
39,691
205.7
0.31
100.74
2003
 
33,043
0.824
40,121
207.9
1.08
101.11
2004
 
34,868
0.844
41,308
214.1
2.96
101.80
2005
 
36,301
0.868
41,816
216.7
1.23
101.26
2006
 
38,032
0.892
42,650
221.0
1.99
99.78
2007
 
40,219
0.914
43,985
227.9
3.13
100.94
2008
 
41,512
0.942
44,077
228.4
0.21
101.49
2009
 
40,390
0.941
42,925
222.5
-2.61
102.82
2010
 
42,047
0.957
43,934
227.7
2.35
103.70
2011
 
44,205
0.981
45,047
233.4
2.53
103.43
2012
 
46,018
1.000
46,018
238.5
2.16
103.17
2013
 
46,412
1.013
45,795
237.3
-0.48
103.46
2014
 
48,434
1.028
47,101
244.1
2.85
102.90
2015
 
50,407
1.030
48,918
253.5
3.86
102.83
2016
 
51,818
1.041
49,767
257.9
1.73
103.61
2017
 
53,306
1.060
50,296
260.6
1.06
102.28
2018
 
56,032
1.082
51,766
268.3
2.92
102.61
2019
 
58,032
1.099
52,828
273.8
2.05
102.73
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 2020
REAP_PI_CA1400_700_PSN
 
   

Tip: 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, 1969-2019
 
1969
 
3,931
0.200
19,638
100.0
N
1970
 
4,198
0.210
20,037
102.0
2.03
1971
 
4,471
0.218
20,469
104.2
2.16
1972
 
4,857
0.226
21,504
109.5
5.05
1973
 
5,363
0.238
22,532
114.7
4.78
1974
 
5,836
0.263
22,205
113.1
-1.45
1975
 
6,324
0.285
22,212
113.1
0.03
1976
 
6,875
0.300
22,893
116.6
3.06
1977
 
7,516
0.320
23,496
119.6
2.64
1978
 
8,356
0.342
24,425
124.4
3.95
1979
 
9,232
0.373
24,784
126.2
1.47
1980
 
10,180
0.413
24,672
125.6
-0.45
1981
 
11,300
0.450
25,134
128.0
1.87
1982
 
11,999
0.475
25,285
128.8
0.60
1983
 
12,698
0.495
25,666
130.7
1.51
1984
 
13,906
0.513
27,085
137.9
5.53
1985
 
14,755
0.531
27,769
141.4
2.52
1986
 
15,490
0.543
28,532
145.3
2.75
1987
 
16,289
0.560
29,106
148.2
2.01
1988
 
17,455
0.582
30,017
152.8
3.13
1989
 
18,676
0.607
30,773
156.7
2.52
1990
 
19,621
0.634
30,970
157.7
0.64
1991
 
20,030
0.655
30,593
155.8
-1.22
1992
 
21,090
0.672
31,376
159.8
2.56
1993
 
21,733
0.689
31,546
160.6
0.54
1994
 
22,575
0.703
32,099
163.4
1.75
1995
 
23,607
0.718
32,874
167.4
2.42
1996
 
24,771
0.733
33,773
172.0
2.73
1997
 
25,993
0.746
34,833
177.4
3.14
1998
 
27,557
0.752
36,637
186.6
5.18
1999
 
28,675
0.763
37,564
191.3
2.53
2000
 
30,657
0.782
39,186
199.5
4.32
2001
 
31,589
0.797
39,616
201.7
1.10
2002
 
31,832
0.808
39,401
200.6
-0.54
2003
 
32,681
0.824
39,681
202.1
0.71
2004
 
34,251
0.844
40,576
206.6
2.26
2005
 
35,849
0.868
41,295
210.3
1.77
2006
 
38,114
0.892
42,742
217.6
3.50
2007
 
39,844
0.914
43,575
221.9
1.95
2008
 
40,904
0.942
43,431
221.2
-0.33
2009
 
39,284
0.941
41,750
212.6
-3.87
2010
 
40,547
0.957
42,366
215.7
1.48
2011
 
42,739
0.981
43,553
221.8
2.80
2012
 
44,605
1.000
44,605
227.1
2.42
2013
 
44,860
1.013
44,264
225.4
-0.76
2014
 
47,071
1.028
45,775
233.1
3.41
2015
 
49,019
1.030
47,571
242.2
3.92
2016
 
50,015
1.041
48,035
244.6
0.98
2017
 
52,118
1.060
49,175
250.4
2.37
2018
 
54,606
1.082
50,450
256.9
2.59
2019
 
56,490
1.099
51,424
261.9
1.93
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 2020
REAP_PI_CA1400_700_PN
 
   
Copyright © 2020. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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