Union County vs. Tennessee
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Union County vs. Tennessee
Union County:
2022 TPI = $835,701K
2022 Percent of State = 0.20%
Tennessee:
2022 TPI = $411,035,072K
2022 Percent of U.S. = 1.88%
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 Union County and Tennessee 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.
Union County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Union County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Union 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 Union County over time.
When measured in current dollars, Union County's total personal income increased 4,301.67%, from $19M in 1970 to $836M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 649.75%, from $96M in 1970 to $720M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Union County's and Tennessee'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, Union County's real total personal income rose from $94M in 1969 to $720M in 2022, for a net gain of $627M, or 669.91%. In comparison, Tennessee's real total personal income increased from $62,573M in 1969 to $354,209M in 2022, for a net gain of $291,637M, or 466.08%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Union County's real total personal income growth in a broader context by offering direct comparisons across time with Tennessee, 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.
Union County's overall real total personal income growth was 669.91% over 1969-2022 outpaced Tennessee's increase of 466.08%, and topped the United States' increase of 348.76%.
Total Personal Income as a Percent of the Tennessee Total: 1969-2022
Total Personal Income as a Percent of the Tennessee Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of Union County is to trace its individual percentage contributions to Tennessee'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 Tennessee's total personal income, while a declining share shows it grew more slowly.
In 1969, Union County's total personal income totaled 0.15% of Tennessee's total personal income, while in 2022 it totaled 0.20% thereby yielding a +0.05% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
+0.05%
=
0.20%
-
0.15%
 
   
Union County Real Total Personal Income:
Annual Percent Change, 1970-2022
Union County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Union 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 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, Union County's real total personal income grew at an annual rate of 3.99% over 1970-2022. The county posted its highest growth in 1976 (14.40%) and posted its lowest growth in 2022 (-4.00%). In 2022, Union County's real total personal income declined by -4.00%
Union County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Union 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 depicts the annual percent change in Union 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, Union County's annual real total personal income growth rate averaged 5.99%. It averaged 3.44% in the 1980s, 6.04% during the 1990s, 2.11% throughout the 2000s, 2.49% throughout the 2010s, 3.58% 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 Union County noted in the previous graph with the corresponding decade averages for Tennessee and the nation. As the chart reveals, Union County's average annual real total personal income growth surpassed Tennessee's average throughout the 1970s (5.99% vs. 4.66%), outpaced Tennessee's average in the 1980s (3.44% vs. 3.19%), outpaced Tennessee's average in the 1990s (6.04% vs. 4.17%), outgained Tennessee's average throughout the 2000s (2.11% vs. 1.93%), fell below Tennessee's average during the 2010s (2.49% vs. 2.88%), and outgained Tennessee's average over the 3 year period of the current decade, 2020-2022 (3.58% vs. 3.09%).
Finally, relative to nationwide real total personal income growth trends, Union County surpassed the nation over the 1970s (5.99% vs. 3.50%), outpaced the nation throughout the 1980s (3.44% vs. 3.16%), outpaced the nation during the 1990s (6.04% vs. 3.27%), exceeded the nation during the 2000s (2.11% vs. 2.06%), posted below the nation during the 2010s (2.49% vs. 2.72%), and exceeded the nation over 2020-2022 (3.58% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
3.99
5.99
3.44
6.04
2.11
2.49
3.58
-4.00
 
3.35
4.66
3.19
4.17
1.93
2.88
3.09
-2.74
 
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.

   
 
Union County:
Total Personal Income, 1969-2022
 
1969
 
17,663
0.189
93,539
100.0
N
0.15
1970
 
18,986
0.198
96,054
102.7
2.69
0.15
1971
 
21,404
0.206
103,878
111.1
8.15
0.15
1972
 
24,445
0.213
114,722
122.6
10.44
0.15
1973
 
28,640
0.225
127,544
136.4
11.18
0.16
1974
 
31,039
0.248
125,193
133.8
-1.84
0.15
1975
 
33,690
0.269
125,428
134.1
0.19
0.15
1976
 
40,655
0.283
143,490
153.4
14.40
0.17
1977
 
43,845
0.302
145,298
155.3
1.26
0.16
1978
 
51,595
0.323
159,856
170.9
10.02
0.17
1979
 
58,090
0.351
165,296
176.7
3.40
0.17
1980
 
66,093
0.389
169,783
181.5
2.71
0.17
1981
 
75,129
0.424
177,128
189.4
4.33
0.18
1982
 
77,401
0.448
172,882
184.8
-2.40
0.17
1983
 
82,072
0.467
175,833
188.0
1.71
0.17
1984
 
91,861
0.484
189,643
202.7
7.85
0.17
1985
 
98,732
0.501
196,960
210.6
3.86
0.17
1986
 
103,370
0.512
201,820
215.8
2.47
0.17
1987
 
110,230
0.528
208,761
223.2
3.44
0.17
1988
 
120,950
0.549
220,450
235.7
5.60
0.17
1989
 
132,326
0.573
231,093
247.1
4.83
0.17
1990
 
144,691
0.598
242,059
258.8
4.75
0.18
1991
 
157,102
0.618
254,317
271.9
5.06
0.18
1992
 
173,829
0.634
274,092
293.0
7.78
0.18
1993
 
189,682
0.650
291,818
312.0
6.47
0.19
1994
 
205,390
0.664
309,527
330.9
6.07
0.19
1995
 
226,037
0.678
333,614
356.7
7.78
0.20
1996
 
242,438
0.692
350,329
374.5
5.01
0.20
1997
 
266,254
0.704
378,164
404.3
7.95
0.21
1998
 
288,465
0.710
406,478
434.6
7.49
0.21
1999
 
298,756
0.720
414,933
443.6
2.08
0.21
2000
 
319,082
0.738
432,232
462.1
4.17
0.21
2001
 
345,468
0.753
458,777
490.5
6.14
0.22
2002
 
353,911
0.763
463,896
495.9
1.12
0.22
2003
 
355,363
0.779
456,214
487.7
-1.66
0.21
2004
 
389,340
0.798
487,730
521.4
6.91
0.22
2005
 
409,491
0.821
498,607
533.0
2.23
0.22
2006
 
426,019
0.844
504,523
539.4
1.19
0.21
2007
 
436,685
0.866
504,214
539.0
-0.06
0.21
2008
 
457,322
0.892
512,865
548.3
1.72
0.21
2009
 
453,089
0.889
509,541
544.7
-0.65
0.21
2010
 
478,924
0.905
529,116
565.7
3.84
0.21
2011
 
497,321
0.928
535,883
572.9
1.28
0.21
2012
 
512,799
0.945
542,449
579.9
1.23
0.20
2013
 
517,362
0.958
540,151
577.5
-0.42
0.20
2014
 
528,141
0.971
543,797
581.4
0.67
0.20
2015
 
555,604
0.973
571,027
610.5
5.01
0.20
2016
 
575,949
0.983
586,005
626.5
2.62
0.20
2017
 
595,545
1.000
595,545
636.7
1.63
0.20
2018
 
632,536
1.020
619,848
662.7
4.08
0.20
2019
 
673,655
1.035
650,793
695.7
4.99
0.20
2020
 
728,130
1.046
695,876
743.9
6.93
0.20
2021
 
817,731
1.090
750,205
802.0
7.81
0.21
2022
 
835,701
1.160
720,165
769.9
-4.00
0.20
Source: Calculations by the Tennessee Regional Economic Analysis Project (TN-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.

   
 
Tennessee:
Total Personal Income, 1969-2022
 
1969
 
11,815,600
0.189
62,572,684
100.0
N
1.49
1970
 
12,849,372
0.198
65,007,447
103.9
3.89
1.50
1971
 
14,188,137
0.206
68,857,738
110.0
5.92
1.53
1972
 
15,970,576
0.213
74,951,079
119.8
8.85
1.57
1973
 
18,141,651
0.225
80,791,142
129.1
7.79
1.60
1974
 
20,073,602
0.248
80,964,797
129.4
0.21
1.61
1975
 
21,893,630
0.269
81,510,164
130.3
0.67
1.61
1976
 
24,519,691
0.283
86,541,104
138.3
6.17
1.64
1977
 
27,175,753
0.302
90,057,506
143.9
4.06
1.65
1978
 
30,979,262
0.323
95,982,346
153.4
6.58
1.67
1979
 
34,544,015
0.351
98,295,578
157.1
2.41
1.67
1980
 
38,090,043
0.389
97,847,418
156.4
-0.46
1.65
1981
 
42,374,357
0.424
99,904,178
159.7
2.10
1.64
1982
 
45,036,017
0.448
100,591,939
160.8
0.69
1.62
1983
 
48,073,556
0.467
102,994,164
164.6
2.39
1.62
1984
 
53,445,267
0.484
110,335,199
176.3
7.13
1.63
1985
 
57,197,621
0.501
114,103,138
182.4
3.41
1.63
1986
 
61,206,494
0.512
119,499,588
191.0
4.73
1.65
1987
 
65,770,270
0.528
124,560,187
199.1
4.23
1.67
1988
 
71,613,065
0.549
130,525,955
208.6
4.79
1.68
1989
 
76,875,704
0.573
134,254,910
214.6
2.86
1.67
1990
 
81,787,247
0.598
136,825,173
218.7
1.91
1.67
1991
 
86,093,139
0.618
139,367,920
222.7
1.86
1.70
1992
 
94,022,364
0.634
148,253,491
236.9
6.38
1.74
1993
 
100,041,604
0.650
153,910,160
246.0
3.82
1.77
1994
 
106,433,967
0.664
160,398,407
256.3
4.22
1.79
1995
 
114,276,071
0.678
168,663,210
269.5
5.15
1.82
1996
 
120,649,337
0.692
174,341,195
278.6
3.37
1.81
1997
 
127,785,224
0.704
181,495,056
290.1
4.10
1.81
1998
 
139,760,336
0.710
196,937,078
314.7
8.51
1.84
1999
 
145,231,941
0.720
201,708,228
322.4
2.42
1.82
2000
 
153,990,107
0.738
208,596,498
333.4
3.41
1.79
2001
 
158,125,252
0.753
209,988,117
335.6
0.67
1.76
2002
 
162,879,395
0.763
213,497,523
341.2
1.67
1.78
2003
 
169,929,514
0.779
218,154,818
348.6
2.18
1.79
2004
 
179,892,943
0.798
225,353,506
360.1
3.30
1.80
2005
 
188,177,577
0.821
229,129,978
366.2
1.68
1.79
2006
 
200,188,916
0.844
237,078,299
378.9
3.47
1.77
2007
 
209,746,788
0.866
242,182,258
387.0
2.15
1.76
2008
 
218,372,476
0.892
244,894,556
391.4
1.12
1.76
2009
 
217,094,703
0.889
244,143,344
390.2
-0.31
1.80
2010
 
227,613,018
0.905
251,467,196
401.9
3.00
1.81
2011
 
241,431,730
0.928
260,152,289
415.8
3.45
1.82
2012
 
252,592,322
0.945
267,197,328
427.0
2.71
1.82
2013
 
254,464,603
0.958
265,673,362
424.6
-0.57
1.81
2014
 
263,856,025
0.971
271,677,624
434.2
2.26
1.79
2015
 
277,356,111
0.973
285,055,459
455.6
4.92
1.79
2016
 
286,532,273
0.983
291,535,014
465.9
2.27
1.80
2017
 
299,307,669
1.000
299,307,669
478.3
2.67
1.80
2018
 
316,176,537
1.020
309,834,230
495.2
3.52
1.81
2019
 
335,496,924
1.035
324,110,908
518.0
4.61
1.83
2020
 
359,633,593
1.046
343,702,961
549.3
6.04
1.83
2021
 
396,986,140
1.090
364,204,127
582.0
5.96
1.86
2022
 
411,035,072
1.160
354,209,278
566.1
-2.74
1.88
Source: Calculations by the Tennessee Regional Economic Analysis Project (TN-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 Tennessee Regional Economic Analysis Project (TN-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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