Mercer County vs. Pennsylvania
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Mercer County vs. Pennsylvania
Mercer County:
2022 Earnings = $3,275,420K
2022 Percent of State = 0.58%
Pennsylvania:
2022 Earnings = $562,602,855K
2022 Percent of U.S. = 3.70%
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.
Mercer County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Mercer County Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Mercer 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 Mercer County over time.
When measured in current dollars, Mercer County's total industry earnings increased 690.76%, from $414M in 1970 to $3,275M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 34.69%, from $2,096M in 1970 to $2,823M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Mercer County's and Pennsylvania'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, Mercer County's real total industry earnings rose from $2,140M in 1969 to $2,823M in 2022, for a net gain of $683M, or 31.91%. In comparison, Pennsylvania's real total industry earnings advanced from $203,553M in 1969 to $484,823M in 2022, for a net advance of $281,270M, or 138.18%.
Real Total Industry Earnings Indices (1969=100): 1969-2022
Real Total Industry Earnings Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Mercer County's real total industry earnings 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 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.
Mercer County's overall real total industry earnings growth was 31.91% over 1969-2022 trailed Pennsylvania's increase of 138.18%, and fell below the United States' increase of 278.59%.
Total Industry Earnings as a Percent of the Pennsylvania Total: 1969-2022
Total Industry Earnings as a Percent of the Pennsylvania Total: 1969-2022
Figure 4.
Another interesting and insightful way of contrasting the total industry earnings growth of Mercer County is to trace its individual percentage contributions to Pennsylvania'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 Pennsylvania's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Mercer County's total industry earnings totaled 1.05% of Pennsylvania's total industry earnings, while in 2022 it comprised 0.58% thereby yielding a -0.47% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.47%
=
0.58%
-
1.05%
 
   
Mercer County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Mercer County Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Mercer 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, Mercer County's real total industry earnings grew at an annual rate of 0.61% over 1970-2022. The county recorded its highest growth in 1988 (9.24%) and recorded its lowest growth in 1982 (-15.08%). In 2022, Mercer County's real total industry earnings declined by -0.56%
Mercer County Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Mercer 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 depicts the annual percent change in Mercer 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, Mercer County's annual real total industry earnings growth rate averaged 1.91%. It averaged -1.66% during the 1980s, 1.83% in the 1990s, 0.19% in the 2000s, 1.37% during the 2010s, -1.40% 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 Mercer County noted in the previous graph with the corresponding decade averages for Pennsylvania and the nation. As the chart reveals, Mercer County's average annual real total industry earnings growth lagged Pennsylvania's average in the 1970s (1.91% vs. 1.96%), recorded under Pennsylvania's average throughout the 1980s (-1.66% vs. 1.39%), posted below Pennsylvania's average in the 1990s (1.83% vs. 2.39%), lagged Pennsylvania's average throughout the 2000s (0.19% vs. 1.30%), amounted to less than Pennsylvania's average in the 2010s (1.37% vs. 1.92%), and amounted to less than Pennsylvania's average over the 3 year period of the current decade, 2020-2022 (-1.40% vs. -0.26%).
Finally, relative to nationwide real total industry earnings growth trends, Mercer County trailed the nation during the 1970s (1.91% vs. 3.13%), lagged the nation during the 1980s (-1.66% vs. 2.62%), fell under the nation throughout the 1990s (1.83% vs. 3.43%), trailed the nation over the 2000s (0.19% vs. 1.47%), lagged the nation over the 2010s (1.37% vs. 2.53%), and trailed the nation over 2020-2022 (-1.40% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
0.61
1.91
-1.66
1.83
0.19
1.37
-1.40
-0.56
 
1.68
1.96
1.39
2.39
1.30
1.92
-0.26
-0.78
 
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.

   
 
Mercer County:
Total Industry Earnings, 1969-2022
 
1969
 
404,064
0.189
2,139,829
100.0
N
1.05
1970
 
414,212
0.198
2,095,578
97.9
-2.07
1.02
1971
 
428,670
0.206
2,080,417
97.2
-0.72
1.01
1972
 
476,169
0.213
2,234,696
104.4
7.42
1.03
1973
 
525,802
0.225
2,341,581
109.4
4.78
1.03
1974
 
577,889
0.248
2,330,855
108.9
-0.46
1.04
1975
 
599,719
0.269
2,232,759
104.3
-4.21
1.02
1976
 
649,787
0.283
2,293,393
107.2
2.72
1.01
1977
 
723,573
0.302
2,397,843
112.1
4.55
1.02
1978
 
813,889
0.323
2,521,654
117.8
5.16
1.04
1979
 
903,611
0.351
2,571,240
120.2
1.97
1.04
1980
 
976,466
0.389
2,508,390
117.2
-2.44
1.06
1981
 
1,057,308
0.424
2,492,769
116.5
-0.62
1.07
1982
 
947,690
0.448
2,116,750
98.9
-15.08
0.94
1983
 
906,991
0.467
1,943,164
90.8
-8.20
0.86
1984
 
969,169
0.484
2,000,803
93.5
2.97
0.84
1985
 
977,738
0.501
1,950,483
91.2
-2.52
0.80
1986
 
952,573
0.512
1,859,804
86.9
-4.65
0.74
1987
 
1,006,216
0.528
1,905,640
89.1
2.46
0.73
1988
 
1,142,141
0.549
2,081,730
97.3
9.24
0.76
1989
 
1,218,189
0.573
2,127,432
99.4
2.20
0.76
1990
 
1,309,551
0.598
2,190,801
102.4
2.98
0.77
1991
 
1,344,712
0.618
2,176,825
101.7
-0.64
0.77
1992
 
1,440,599
0.634
2,271,522
106.2
4.35
0.77
1993
 
1,388,805
0.650
2,136,623
99.9
-5.94
0.72
1994
 
1,489,887
0.664
2,245,294
104.9
5.09
0.74
1995
 
1,546,732
0.678
2,282,864
106.7
1.67
0.74
1996
 
1,600,524
0.692
2,312,796
108.1
1.31
0.74
1997
 
1,667,410
0.704
2,368,245
110.7
2.40
0.73
1998
 
1,745,045
0.710
2,458,953
114.9
3.83
0.72
1999
 
1,828,612
0.720
2,539,704
118.7
3.28
0.71
2000
 
1,959,508
0.738
2,654,369
124.0
4.51
0.72
2001
 
1,947,484
0.753
2,586,231
120.9
-2.57
0.68
2002
 
2,029,368
0.763
2,660,036
124.3
2.85
0.70
2003
 
2,097,064
0.779
2,692,202
125.8
1.21
0.69
2004
 
2,154,626
0.798
2,699,119
126.1
0.26
0.67
2005
 
2,238,728
0.821
2,725,934
127.4
0.99
0.67
2006
 
2,352,001
0.844
2,785,411
130.2
2.18
0.68
2007
 
2,436,587
0.866
2,813,383
131.5
1.00
0.67
2008
 
2,448,606
0.892
2,745,998
128.3
-2.40
0.66
2009
 
2,290,962
0.889
2,576,402
120.4
-6.18
0.64
2010
 
2,421,489
0.905
2,675,265
125.0
3.84
0.64
2011
 
2,573,344
0.928
2,772,880
129.6
3.65
0.65
2012
 
2,642,606
0.945
2,795,403
130.6
0.81
0.65
2013
 
2,723,120
0.958
2,843,069
132.9
1.71
0.65
2014
 
2,798,309
0.971
2,881,260
134.6
1.34
0.65
2015
 
2,882,713
0.973
2,962,737
138.5
2.83
0.64
2016
 
2,837,837
0.983
2,887,385
134.9
-2.54
0.62
2017
 
2,938,047
1.000
2,938,047
137.3
1.75
0.62
2018
 
3,007,028
1.020
2,946,709
137.7
0.29
0.61
2019
 
3,049,763
1.035
2,946,261
137.7
-0.02
0.60
2020
 
2,949,619
1.046
2,818,960
131.7
-4.32
0.59
2021
 
3,093,999
1.090
2,838,505
132.7
0.69
0.58
2022
 
3,275,420
1.160
2,822,592
131.9
-0.56
0.58
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_1200_PSN
 
   

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

   
 
Pennsylvania:
Total Industry Earnings, 1969-2022
 
1969
 
38,436,880
0.189
203,552,825
100.0
N
5.88
1970
 
40,518,691
0.198
204,991,860
100.7
0.71
5.84
1971
 
42,410,893
0.206
205,828,163
101.1
0.41
5.72
1972
 
46,349,756
0.213
217,522,790
106.9
5.68
5.65
1973
 
51,119,285
0.225
227,652,126
111.8
4.66
5.56
1974
 
55,468,407
0.248
223,726,080
109.9
-1.72
5.58
1975
 
58,846,636
0.269
219,086,508
107.6
-2.07
5.55
1976
 
64,245,467
0.283
226,751,375
111.4
3.50
5.48
1977
 
70,701,225
0.302
234,296,212
115.1
3.33
5.42
1978
 
78,472,312
0.323
243,128,987
119.4
3.77
5.32
1979
 
86,595,068
0.351
246,407,728
121.1
1.35
5.25
1980
 
91,820,100
0.389
235,871,609
115.9
-4.28
5.15
1981
 
98,824,648
0.424
232,994,573
114.5
-1.22
5.04
1982
 
101,160,396
0.448
225,950,718
111.0
-3.02
4.93
1983
 
105,242,230
0.467
225,473,969
110.8
-0.21
4.81
1984
 
114,855,224
0.484
237,113,120
116.5
5.16
4.72
1985
 
121,615,883
0.501
242,610,683
119.2
2.32
4.65
1986
 
128,098,226
0.512
250,099,037
122.9
3.09
4.60
1987
 
138,139,838
0.528
261,618,571
128.5
4.61
4.61
1988
 
150,812,088
0.549
274,878,498
135.0
5.07
4.63
1989
 
161,088,577
0.573
281,323,374
138.2
2.34
4.65
1990
 
170,011,240
0.598
284,418,637
139.7
1.10
4.62
1991
 
174,840,776
0.618
283,032,952
139.0
-0.49
4.61
1992
 
186,564,505
0.634
294,172,982
144.5
3.94
4.60
1993
 
193,773,307
0.650
298,112,780
146.5
1.34
4.57
1994
 
201,208,862
0.664
303,226,328
149.0
1.72
4.51
1995
 
208,258,794
0.678
307,374,906
151.0
1.37
4.45
1996
 
217,005,925
0.692
313,578,783
154.1
2.02
4.38
1997
 
228,564,468
0.704
324,633,159
159.5
3.53
4.32
1998
 
242,081,729
0.710
341,118,730
167.6
5.08
4.24
1999
 
256,072,351
0.720
355,651,103
174.7
4.26
4.20
2000
 
272,672,491
0.738
369,364,811
181.5
3.86
4.13
2001
 
284,766,797
0.753
378,166,313
185.8
2.38
4.15
2002
 
291,571,003
0.763
382,182,699
187.8
1.06
4.16
2003
 
301,757,851
0.779
387,395,500
190.3
1.36
4.17
2004
 
322,134,652
0.798
403,540,972
198.2
4.17
4.20
2005
 
334,688,190
0.821
407,525,162
200.2
0.99
4.16
2006
 
346,776,765
0.844
410,678,310
201.8
0.77
4.07
2007
 
363,028,142
0.866
419,167,206
205.9
2.07
4.09
2008
 
369,147,932
0.892
413,982,205
203.4
-1.24
4.10
2009
 
359,291,829
0.889
404,057,342
198.5
-2.40
4.14
2010
 
375,934,521
0.905
415,333,010
204.0
2.79
4.17
2011
 
393,318,810
0.928
423,816,657
208.2
2.04
4.16
2012
 
406,762,901
0.945
430,282,122
211.4
1.53
4.13
2013
 
421,457,423
0.958
440,021,949
216.2
2.26
4.14
2014
 
433,661,863
0.971
446,517,090
219.4
1.48
4.09
2015
 
450,231,554
0.973
462,729,888
227.3
3.63
4.08
2016
 
459,146,271
0.983
467,162,784
229.5
0.96
4.06
2017
 
472,978,177
1.000
472,978,177
232.4
1.24
3.99
2018
 
490,540,476
1.020
480,700,536
236.2
1.63
3.94
2019
 
505,967,594
1.035
488,796,184
240.1
1.68
3.90
2020
 
502,258,977
1.046
480,010,491
235.8
-1.80
3.82
2021
 
532,601,637
1.090
488,620,872
240.0
1.79
3.73
2022
 
562,602,855
1.160
484,822,742
238.2
-0.78
3.70
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_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 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_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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