Newaygo County vs. Michigan
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Newaygo County vs. Michigan
Newaygo County:
2022 TPI = $2,246,097K
2022 Percent of State = 0.39%
Michigan:
2022 TPI = $572,325,054K
2022 Percent of U.S. = 2.62%
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 Newaygo County and Michigan 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.
Newaygo County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Newaygo County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Newaygo 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 Newaygo County over time.
When measured in current dollars, Newaygo County's total personal income increased 2,323.58%, from $93M in 1970 to $2,246M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 312.82%, from $469M in 1970 to $1,936M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Newaygo County's and Michigan'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, Newaygo County's real total personal income rose from $459M in 1969 to $1,936M in 2022, for a net gain of $1,476M, or 321.28%. In comparison, Michigan's real total personal income advanced from $191,008M in 1969 to $493,201M in 2022, for a net gain of $302,193M, or 158.21%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Newaygo County's real total personal income growth in a broader context by offering direct comparisons across time with Michigan, 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.
Newaygo County's overall real total personal income growth was 321.28% over 1969-2022 outpaced Michigan's increase of 158.21%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the Michigan Total: 1969-2022
Total Personal Income as a Percent of the Michigan Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Newaygo County is to compare its individual percentage contributions to Michigan'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 Michigan's total personal income, while a declining share shows it grew more slowly.
In 1969, Newaygo County's total personal income comprised 0.24% of Michigan's total personal income, while in 2022 it totaled 0.39% thereby yielding a +0.15% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.15%
=
0.39%
-
0.24%
 
   
Newaygo County Real Total Personal Income:
Annual Percent Change, 1970-2022
Newaygo County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Newaygo 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, Newaygo County's real total personal income grew at an annual rate of 2.80% over 1970-2022. The county posted its highest growth in 2020 (11.04%) and posted its lowest growth in 2022 (-6.28%). In 2022, Newaygo County's real total personal income declined by -6.28%
Newaygo County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Newaygo 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 illustrates the annual percent change in Newaygo 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, Newaygo County's annual real total personal income growth rate averaged 4.29%. It averaged 2.16% during the 1980s, 4.88% throughout the 1990s, 0.56% during the 2000s, 2.14% in the 2010s, 2.68% 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 Newaygo County noted in the previous graph with the corresponding decade averages for Michigan and the nation. As the chart reveals, Newaygo County's average annual real total personal income growth led Michigan's average during the 1970s (4.29% vs. 2.86%), exceeded Michigan's average during the 1980s (2.16% vs. 1.68%), registered above Michigan's average throughout the 1990s (4.88% vs. 2.86%), recorded above Michigan's average throughout the 2000s (0.56% vs. -0.25%), posted below Michigan's average throughout the 2010s (2.14% vs. 2.18%), and registered above Michigan's average over the 3 year period of the current decade, 2020-2022 (2.68% vs. 1.55%).
Finally, relative to nationwide real total personal income growth trends, Newaygo County led the nation throughout the 1970s (4.29% vs. 3.50%), posted below the nation throughout the 1980s (2.16% vs. 3.16%), exceeded the nation in the 1990s (4.88% vs. 3.27%), trailed the nation over the 2000s (0.56% vs. 2.06%), trailed the nation during the 2010s (2.14% vs. 2.72%), and led the nation over 2020-2022 (2.68% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.80
4.29
2.16
4.88
0.56
2.14
2.68
-6.28
 
1.85
2.86
1.68
2.86
-0.25
2.18
1.55
-5.38
 
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.

   
 
Newaygo County:
Total Personal Income, 1969-2022
 
1969
 
86,759
0.189
459,456
100.0
N
0.24
1970
 
92,677
0.198
468,871
102.0
2.05
0.25
1971
 
100,794
0.206
489,173
106.5
4.33
0.25
1972
 
113,714
0.213
533,668
116.2
9.10
0.25
1973
 
125,433
0.225
558,597
121.6
4.67
0.25
1974
 
136,960
0.248
552,414
120.2
-1.11
0.25
1975
 
155,664
0.269
579,538
126.1
4.91
0.27
1976
 
174,739
0.283
616,733
134.2
6.42
0.27
1977
 
192,177
0.302
636,854
138.6
3.26
0.27
1978
 
219,624
0.323
680,456
148.1
6.85
0.27
1979
 
244,881
0.351
696,813
151.7
2.40
0.28
1980
 
265,467
0.389
681,944
148.4
-2.13
0.28
1981
 
288,423
0.424
680,002
148.0
-0.28
0.29
1982
 
309,145
0.448
690,503
150.3
1.54
0.30
1983
 
325,181
0.467
696,677
151.6
0.89
0.29
1984
 
361,811
0.484
746,942
162.6
7.21
0.29
1985
 
386,596
0.501
771,218
167.9
3.25
0.29
1986
 
403,216
0.512
787,239
171.3
2.08
0.28
1987
 
430,995
0.528
816,247
177.7
3.68
0.29
1988
 
448,150
0.549
816,823
177.8
0.07
0.28
1989
 
492,332
0.573
859,803
187.1
5.26
0.29
1990
 
528,230
0.598
883,697
192.3
2.78
0.30
1991
 
568,795
0.618
920,768
200.4
4.19
0.31
1992
 
615,968
0.634
971,252
211.4
5.48
0.32
1993
 
664,283
0.650
1,021,974
222.4
5.22
0.33
1994
 
749,050
0.664
1,128,835
245.7
10.46
0.34
1995
 
770,508
0.678
1,137,214
247.5
0.74
0.34
1996
 
830,625
0.692
1,200,273
261.2
5.55
0.34
1997
 
875,700
0.704
1,243,768
270.7
3.62
0.35
1998
 
940,771
0.710
1,325,646
288.5
6.58
0.35
1999
 
994,640
0.720
1,381,425
300.7
4.21
0.35
2000
 
1,049,728
0.738
1,421,972
309.5
2.94
0.35
2001
 
1,057,488
0.753
1,404,329
305.7
-1.24
0.34
2002
 
1,063,988
0.763
1,394,644
303.5
-0.69
0.35
2003
 
1,102,043
0.779
1,414,798
307.9
1.45
0.35
2004
 
1,168,492
0.798
1,463,780
318.6
3.46
0.36
2005
 
1,202,202
0.821
1,463,833
318.6
0.00
0.37
2006
 
1,250,255
0.844
1,480,643
322.3
1.15
0.37
2007
 
1,284,159
0.866
1,482,743
322.7
0.14
0.37
2008
 
1,327,698
0.892
1,488,951
324.1
0.42
0.37
2009
 
1,296,595
0.889
1,458,143
317.4
-2.07
0.38
2010
 
1,356,835
0.905
1,499,033
326.3
2.80
0.39
2011
 
1,425,443
0.928
1,535,972
334.3
2.46
0.38
2012
 
1,455,570
0.945
1,539,732
335.1
0.24
0.38
2013
 
1,482,734
0.958
1,548,046
336.9
0.54
0.38
2014
 
1,554,882
0.971
1,600,974
348.5
3.42
0.38
2015
 
1,627,167
0.973
1,672,337
364.0
4.46
0.38
2016
 
1,705,448
0.983
1,735,224
377.7
3.76
0.39
2017
 
1,765,255
1.000
1,765,255
384.2
1.73
0.39
2018
 
1,805,383
1.020
1,769,168
385.1
0.22
0.38
2019
 
1,864,057
1.035
1,800,795
391.9
1.79
0.38
2020
 
2,092,315
1.046
1,999,632
435.2
11.04
0.39
2021
 
2,251,234
1.090
2,065,333
449.5
3.29
0.40
2022
 
2,246,097
1.160
1,935,573
421.3
-6.28
0.39
Source: Calculations by the Michigan Regional Economic Analysis Project (MI-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.

   
 
Michigan:
Total Personal Income, 1969-2022
 
1969
 
36,067,948
0.189
191,007,509
100.0
N
4.56
1970
 
37,361,665
0.198
189,019,857
99.0
-1.04
4.37
1971
 
40,643,958
0.206
197,252,890
103.3
4.36
4.40
1972
 
45,132,028
0.213
211,807,903
110.9
7.38
4.44
1973
 
50,382,867
0.225
224,372,599
117.5
5.93
4.45
1974
 
53,913,200
0.248
217,453,313
113.8
-3.08
4.33
1975
 
57,745,117
0.269
214,985,544
112.6
-1.13
4.24
1976
 
64,457,792
0.283
227,500,766
119.1
5.82
4.31
1977
 
72,465,620
0.302
240,143,226
125.7
5.56
4.39
1978
 
80,772,906
0.323
250,256,866
131.0
4.21
4.35
1979
 
88,473,249
0.351
251,752,124
131.8
0.60
4.27
1980
 
94,701,793
0.389
243,274,232
127.4
-3.37
4.09
1981
 
101,183,597
0.424
238,556,164
124.9
-1.94
3.91
1982
 
104,753,909
0.448
233,977,148
122.5
-1.92
3.77
1983
 
111,587,381
0.467
239,068,003
125.2
2.18
3.76
1984
 
123,022,181
0.484
253,973,412
133.0
6.23
3.76
1985
 
133,511,635
0.501
266,341,436
139.4
4.87
3.81
1986
 
141,960,377
0.512
277,163,508
145.1
4.06
3.82
1987
 
147,028,829
0.528
278,453,144
145.8
0.47
3.74
1988
 
157,389,827
0.549
286,867,451
150.2
3.02
3.69
1989
 
169,457,810
0.573
295,939,313
154.9
3.16
3.68
1990
 
177,358,200
0.598
296,709,661
155.3
0.26
3.62
1991
 
181,544,360
0.618
293,884,741
153.9
-0.95
3.58
1992
 
192,090,223
0.634
302,885,877
158.6
3.06
3.55
1993
 
202,230,763
0.650
311,124,251
162.9
2.72
3.58
1994
 
217,482,045
0.664
327,750,384
171.6
5.34
3.67
1995
 
229,978,752
0.678
339,431,992
177.7
3.56
3.66
1996
 
241,755,067
0.692
349,341,888
182.9
2.92
3.63
1997
 
253,075,718
0.704
359,446,814
188.2
2.89
3.58
1998
 
268,711,943
0.710
378,643,515
198.2
5.34
3.54
1999
 
282,128,877
0.720
391,840,220
205.1
3.49
3.54
2000
 
301,060,433
0.738
407,819,394
213.5
4.08
3.49
2001
 
306,670,387
0.753
407,253,973
213.2
-0.14
3.41
2002
 
306,427,101
0.763
401,655,636
210.3
-1.37
3.35
2003
 
313,961,005
0.779
403,061,860
211.0
0.35
3.31
2004
 
322,698,379
0.798
404,247,158
211.6
0.29
3.22
2005
 
329,235,279
0.821
400,885,554
209.9
-0.83
3.12
2006
 
336,842,607
0.844
398,913,556
208.8
-0.49
2.98
2007
 
346,731,862
0.866
400,350,852
209.6
0.36
2.91
2008
 
356,356,155
0.892
399,636,823
209.2
-0.18
2.87
2009
 
339,099,994
0.889
381,349,731
199.7
-4.58
2.81
2010
 
352,074,311
0.905
388,972,215
203.6
2.00
2.81
2011
 
372,954,243
0.928
401,873,026
210.4
3.32
2.80
2012
 
387,339,206
0.945
409,735,340
214.5
1.96
2.79
2013
 
390,857,856
0.958
408,074,520
213.6
-0.41
2.78
2014
 
407,267,049
0.971
419,339,843
219.5
2.76
2.76
2015
 
429,284,900
0.973
441,201,760
231.0
5.21
2.78
2016
 
441,557,210
0.983
449,266,625
235.2
1.83
2.78
2017
 
454,894,818
1.000
454,894,818
238.2
1.25
2.73
2018
 
474,208,013
1.020
464,695,692
243.3
2.15
2.71
2019
 
489,493,146
1.035
472,880,842
247.6
1.76
2.67
2020
 
531,530,232
1.046
507,985,122
266.0
7.42
2.71
2021
 
568,132,011
1.090
521,217,247
272.9
2.60
2.66
2022
 
572,325,054
1.160
493,200,843
258.2
-5.38
2.62
Source: Calculations by the Michigan Regional Economic Analysis Project (MI-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 Michigan Regional Economic Analysis Project (MI-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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