Panola County vs. Mississippi
Comparative Trends Analysis:
Per Capita Personal Income Growth and Change, 1969-2022
Introduction
Panola County vs. Mississippi
Panola County:
2022 PCI = $40,423
2022 Percent of State = 87.18%
Mississippi:
2022 PCI = $46,370
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.
Panola County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Panola County Per Capita Personal Income, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Panola 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 Panola County over time.
When measured in current dollars, Panola County's per capita personal income increased 1,719.87%, from $2,221 in 1970 to $40,423 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 209.98%, from $11,237 in 1970 to $34,835 in 2022.
Real Per Capita Personal Income, 1969-2022
Real Per Capita Personal Income, 1969-2022
Figure 2.
Figure 2 tracks Panola County's and Mississippi'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, Panola County's real per capita personal income rose from $10,708 in 1969 to $34,835 in 2022, for a net gain of $24,126, or 225.31%. In comparison, Mississippi's real per capita personal income advanced from $13,217 in 1969 to $39,959 in 2022, for a net advance of $26,742, or 202.33%.
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Real Per Capita Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Panola County's real per capita personal income growth in a broader context by offering direct comparisons across time with Mississippi, 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.
Panola County's overall real per capita personal income growth was 225.31% over 1969-2022 outpaced Mississippi's increase of 202.33%, and outpaced 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 displays the trends for per capita personal income relative to the national average by tracing Panola County and Mississippi per capita personal income as a percent of the national average over 1969-2022.
In 1969, Panola County's per capita personal income amounted to 51.44% of the national average; in 2022, it approximated 61.74%. Similarly, in 1969, Mississippi's per capita personal income totaled 63.50% of the national average; in 2022, it consisted of 70.83%.
Panola County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Panola County Real Per Capita Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Panola 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, Panola County's real per capita personal income grew at an annual rate of 2.34% over 1970-2022. The county posted its highest growth in 1976 (15.02%) and recorded its lowest growth in 2022 (-10.42%). In 2022, Panola County's real per capita personal income declined by -10.42%
Panola County Real Per Capita Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Panola 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 Panola 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, Panola County's annual real per capita personal income growth rate averaged 4.42%. It averaged 1.80% in the 1980s, 1.85% in the 1990s, 2.10% during the 2000s, 1.56% throughout the 2010s, 2.13% 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 Panola County noted in the previous graph with the corresponding decade averages for Mississippi and the nation. As the chart reveals, Panola County's average annual real per capita personal income growth led Mississippi's average in the 1970s (4.42% vs. 3.67%), exceeded Mississippi's average in the 1980s (1.80% vs. 1.65%), lagged Mississippi's average throughout the 1990s (1.85% vs. 2.62%), registered above Mississippi's average throughout the 2000s (2.10% vs. 1.71%), outperformed Mississippi's average throughout the 2010s (1.56% vs. 1.08%), and outpaced Mississippi's average over the 3 year period of the current decade, 2020-2022 (2.13% vs. 2.03%).
Finally, relative to nationwide real per capita personal income growth trends, Panola County topped the nation over the 1970s (4.42% vs. 2.37%), fell below the nation throughout the 1980s (1.80% vs. 2.19%), lagged the nation during the 1990s (1.85% vs. 2.01%), exceeded the nation over the 2000s (2.10% vs. 1.10%), recorded underneath the nation in the 2010s (1.56% vs. 1.97%), and exceeded the nation over 2020-2022 (2.13% vs. 1.78%).
   
 
Real* Per Capita Personal Income Growth:
Average Annual Percent Change
 
 
 
2.34
4.42
1.80
1.85
2.10
1.56
2.13
-10.42
 
2.14
3.67
1.65
2.62
1.71
1.08
2.03
-6.49
 
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.

   
 
Panola County:
Per Capita Personal Income, 1969-2022
 
1969
 
2,022
0.189
10,708
100.0
N
81.02
51.44
1970
 
2,221
0.198
11,237
104.9
4.94
81.18
52.91
1971
 
2,411
0.206
11,700
109.3
4.12
81.07
53.93
1972
 
2,671
0.213
12,536
117.1
7.14
80.28
55.00
1973
 
3,047
0.225
13,571
126.7
8.25
81.56
56.82
1974
 
3,290
0.248
13,268
123.9
-2.23
81.10
56.37
1975
 
3,449
0.269
12,840
119.9
-3.23
79.11
54.54
1976
 
4,184
0.283
14,768
137.9
15.02
85.62
60.86
1977
 
4,594
0.302
15,223
142.2
3.08
85.46
61.12
1978
 
4,952
0.323
15,343
143.3
0.79
83.69
59.27
1979
 
5,734
0.351
16,315
152.4
6.34
86.43
62.10
1980
 
5,793
0.389
14,881
139.0
-8.79
80.81
56.88
1981
 
6,539
0.424
15,417
144.0
3.60
81.67
57.91
1982
 
6,793
0.448
15,173
141.7
-1.58
80.93
56.66
1983
 
7,198
0.467
15,421
144.0
1.63
82.29
56.67
1984
 
8,156
0.484
16,837
157.2
9.19
85.77
58.72
1985
 
8,601
0.501
17,157
160.2
1.90
86.23
58.32
1986
 
8,758
0.512
17,100
159.7
-0.33
84.83
56.57
1987
 
9,666
0.528
18,306
171.0
7.05
88.55
59.56
1988
 
10,471
0.549
19,085
178.2
4.26
89.21
60.04
1989
 
11,048
0.573
19,295
180.2
1.10
86.95
59.22
1990
 
11,750
0.598
19,657
183.6
1.88
87.99
59.89
1991
 
12,361
0.618
20,011
186.9
1.80
88.47
61.65
1992
 
13,126
0.634
20,697
193.3
3.43
88.21
62.28
1993
 
13,401
0.650
20,618
192.5
-0.38
85.60
61.72
1994
 
14,536
0.664
21,906
204.6
6.25
86.92
64.46
1995
 
14,978
0.678
22,106
206.4
0.91
85.73
63.53
1996
 
15,488
0.692
22,380
209.0
1.24
84.35
62.64
1997
 
16,045
0.704
22,788
212.8
1.82
83.48
61.89
1998
 
16,190
0.710
22,813
213.0
0.11
80.26
58.89
1999
 
16,670
0.720
23,153
216.2
1.49
80.61
58.30
2000
 
17,578
0.738
23,811
222.4
2.84
81.27
57.54
2001
 
19,406
0.753
25,771
240.7
8.23
85.09
61.51
2002
 
19,098
0.763
25,034
233.8
-2.86
82.31
60.06
2003
 
19,827
0.779
25,454
237.7
1.68
82.41
60.71
2004
 
20,806
0.798
26,064
243.4
2.40
82.28
60.87
2005
 
22,267
0.821
27,112
253.2
4.02
83.35
62.43
2006
 
23,314
0.844
27,610
257.8
1.83
83.78
61.61
2007
 
24,683
0.866
28,499
266.1
3.22
83.86
62.35
2008
 
25,349
0.892
28,428
265.5
-0.25
82.47
62.05
2009
 
25,258
0.889
28,405
265.3
-0.08
83.58
64.26
2010
 
26,593
0.905
29,380
274.4
3.43
85.20
65.57
2011
 
28,376
0.928
30,576
285.5
4.07
87.43
66.53
2012
 
29,640
0.945
31,354
292.8
2.54
88.63
67.00
2013
 
30,838
0.958
32,197
300.7
2.69
90.76
69.45
2014
 
30,309
0.971
31,208
291.4
-3.07
87.54
65.48
2015
 
30,805
0.973
31,660
295.7
1.45
87.76
64.10
2016
 
31,342
0.983
31,889
297.8
0.72
87.95
64.00
2017
 
32,238
1.000
32,238
301.1
1.09
88.13
63.21
2018
 
33,153
1.020
32,488
303.4
0.78
88.11
62.19
2019
 
34,283
1.035
33,120
309.3
1.95
87.55
61.72
2020
 
38,738
1.046
37,022
345.7
11.78
91.12
65.49
2021
 
42,386
1.090
38,885
363.1
5.03
91.00
65.79
2022
 
40,423
1.160
34,835
325.3
-10.42
87.18
61.74
Source: Calculations by the Mississippi Regional Economic Analysis Project (MS-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.

   
 
Mississippi:
Per Capita Personal Income, 1969-2022
 
1969
 
2,496
0.189
13,217
100.0
N
63.50
1970
 
2,736
0.198
13,842
104.7
4.73
65.18
1971
 
2,974
0.206
14,432
109.2
4.26
66.52
1972
 
3,327
0.213
15,616
118.1
8.20
68.51
1973
 
3,736
0.225
16,638
125.9
6.55
69.66
1974
 
4,056
0.248
16,360
123.8
-1.67
69.51
1975
 
4,360
0.269
16,231
122.8
-0.79
68.94
1976
 
4,887
0.283
17,249
130.5
6.27
71.09
1977
 
5,375
0.302
17,813
134.8
3.27
71.52
1978
 
5,917
0.323
18,332
138.7
2.92
70.81
1979
 
6,634
0.351
18,876
142.8
2.96
71.85
1980
 
7,168
0.389
18,415
139.3
-2.44
70.39
1981
 
8,007
0.424
18,877
142.8
2.51
70.91
1982
 
8,394
0.448
18,749
141.9
-0.68
70.01
1983
 
8,746
0.467
18,738
141.8
-0.06
68.86
1984
 
9,509
0.484
19,630
148.5
4.76
68.46
1985
 
9,974
0.501
19,898
150.5
1.36
67.64
1986
 
10,324
0.512
20,157
152.5
1.30
66.68
1987
 
10,916
0.528
20,673
156.4
2.56
67.27
1988
 
11,737
0.549
21,393
161.9
3.48
67.29
1989
 
12,707
0.573
22,191
167.9
3.73
68.10
1990
 
13,353
0.598
22,339
169.0
0.67
68.06
1991
 
13,973
0.618
22,619
171.1
1.25
69.69
1992
 
14,881
0.634
23,463
177.5
3.73
70.60
1993
 
15,656
0.650
24,086
182.2
2.65
72.10
1994
 
16,724
0.664
25,203
190.7
4.63
74.16
1995
 
17,470
0.678
25,785
195.1
2.31
74.10
1996
 
18,360
0.692
26,531
200.7
2.89
74.26
1997
 
19,219
0.704
27,297
206.5
2.89
74.13
1998
 
20,173
0.710
28,425
215.1
4.14
73.37
1999
 
20,681
0.720
28,723
217.3
1.05
72.33
2000
 
21,628
0.738
29,298
221.7
2.00
70.79
2001
 
22,806
0.753
30,285
229.1
3.37
72.29
2002
 
23,202
0.763
30,412
230.1
0.42
72.96
2003
 
24,060
0.779
30,888
233.7
1.57
73.67
2004
 
25,287
0.798
31,677
239.7
2.55
73.98
2005
 
26,716
0.821
32,530
246.1
2.69
74.90
2006
 
27,827
0.844
32,954
249.3
1.30
73.53
2007
 
29,432
0.866
33,983
257.1
3.12
74.35
2008
 
30,736
0.892
34,469
260.8
1.43
75.23
2009
 
30,220
0.889
33,985
257.1
-1.40
76.88
2010
 
31,213
0.905
34,484
260.9
1.47
76.96
2011
 
32,454
0.928
34,970
264.6
1.41
76.09
2012
 
33,441
0.945
35,375
267.6
1.16
75.59
2013
 
33,976
0.958
35,473
268.4
0.28
76.52
2014
 
34,624
0.971
35,650
269.7
0.50
74.80
2015
 
35,100
0.973
36,074
272.9
1.19
73.03
2016
 
35,638
0.983
36,260
274.3
0.52
72.77
2017
 
36,580
1.000
36,580
276.8
0.88
71.72
2018
 
37,624
1.020
36,870
279.0
0.79
70.58
2019
 
39,157
1.035
37,828
286.2
2.60
70.49
2020
 
42,513
1.046
40,630
307.4
7.41
71.87
2021
 
46,577
1.090
42,730
323.3
5.17
72.29
2022
 
46,370
1.160
39,959
302.3
-6.49
70.83
Source: Calculations by the Mississippi Regional Economic Analysis Project (MS-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 Mississippi Regional Economic Analysis Project (MS-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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